Leading Sales Productivity KPI’s: Keys to Accelerating Sales
By Michael J Griffin, Founder ELAvate Sales!
It is amazing how many large companies with B2B sales teams do an incomplete job of measuring both Leading and Lagging Sales Key Performance Indicators.
A Quick Review:
Lagging KPI’s are history. Driving your car, the kilometers you have driven are history, how far you have travelled. Monthly sales revenue, gross profit per deal and sales rep turnover are lagging and history as you cannot change these numbers to boost the past month’s revenue. Most companies do a decent job measuring these KPI’s.
Leading KPI’s are those that impact the Lagging KPI’s. When driving a car, your speedometer gives you a leading indicator of the time of when you will reach your destination. Your fuel tank gauge tells you do you have enough fuel to make it to your destination. In this case these two leading indicators can determine when you reach the lagging indicator: Arrival at your destination. For sales success, the best leading KPI’s are ratios. Think about the driving example. The ratio of “kilometers per hour” determines when you will arrive at your destination.
Effectively coaching your B2B sales team on leading KPI’s can greatly enhance your sales team success to exceed revenue and gross profit targets. Here are my favorite leading KPI’s for B2B sales. Employ them to practice Dr. Maxwell’s Law of Victory “ Sales Leaders find a way for the Sales Team to Win.” Coach on sales leading KPI’s and lead your team to win!
- Prospecting calls or correspondence/day
- New leads into the pipeline per week or month
- Sales calls/visits per day or week
- Joint coaching calls per salesperson/ month
- Pipeline growth per rep or team per month
- Win Loss Ratio per month
- Sales Predictions versus Actual for 3, 2 and 1 month
- Monthly Sales Manager Interviews for new reps per month
- Average Ramp up time per new Sales Person
- Training or Learning Hours per Sales person per month or quarter
Getting these KPI’s into a Sales Team or Sales Coaching Scorecard and tracking them monthly support sales team success by ensuring the sales manager is actively coaching his/her team to win.
Why not pick 2-3 of these Leading KPI’s and begin measuring them in July? Make sure you relate to your sales people that you are measuring these KPI’s to coach for their success and not to “beat them up.”
Have a great second half of the year coaching your sales team to win!
Michael J Griffin
Master Sales Coach for ELAvate Sales
MHG AchieveGlobal