KPIs Every Sales Manager Must Measure And Track (5 TOP KPIs)

About this Video

• Video Title: KPIs Every Sales Manager Must Measure And Track (5 TOP KPIs)
• Channel: DoerPreneur Soft
• Speakers: Sean Phone
• Duration: 00:07:28

Introduction

This video explains five key performance indicators (KPIs) crucial for sales managers to measure and track. The speaker emphasizes that while metrics are essential for sales team growth, focusing on the right ones is key to avoid analysis paralysis. The video aims to highlight the five most important KPIs used by top sales teams to improve prospects, close more leads, and increase profitability.

Key Takeaways

• Customer Acquisition Cost (CAC): This KPI measures the cost of acquiring a customer, considering marketing, lead generation, etc. It helps calculate net profit per customer and cost per product/service.
• Sales Opportunities and Leads: Tracking sales opportunities and leads provides insights into generating sales. Leads help reach clients, while opportunities (from existing situations) contribute to high sales. This helps identify the right audience for product marketing and closing deals.
• Monthly Sales Growth: This metric shows the sales growth rate for an organization monthly. It's important for tracking targets, profit, and growth performance, as increased sales directly correlate with increased profit and target achievement.
• Customer Lifetime Value (CLTV): Although often ignored, CLTV is beneficial. It showcases the value generated by a customer over their relationship with the company, informing future strategies, profit, and product development. It helps understand customer profitability and how to allocate resources effectively.
• Sales Cycle Length: Analyzing the length of the average sales cycle helps identify optimal sales strategies. It's important to consider both speed and the long-term success of deals (customer satisfaction and retention).