Define your goals in stages

[mouakter13]

Analyze the indicators based on your type of product or service and your sales sector. However, there are three indicators you should always analyze and improve:

Volume: For example, the volume of leads generated per month (divided by lead generation strategy)
Conversion: for example, the conversion rate from lead to qualified prospect and from prospect to customer
Time: For example, sales cycle length (from lead capture to customer conversion). Time is a key factor in understanding which stages of your sales process slow down and what could be optimized.
Other important metrics to consider are:

Number of deals . Knowing how many qualified opportunities are in your pipeline at any given time, and where they are, allows you to assess the health of your sales process .
Deal Value . Adding up the total value of all the deals in your pipeline gives you an idea of ​​your potential revenue. It also shows you if you're on track to meet your sales quotas.
Average deal size. By dividing the total value of deals in your pipeline by the number of deals, you'll get your average sales contract size. With this information, you can calculate how many deals you need to achieve your sales revenue goals.
Deal closing rate . Knowing the average percentage of deals your team closes will help you identify training opportunities. It will also help you estimate monthly, quarterly, and annual revenue.
Sales velocity . Your sales velocity is the average time it takes to convert a qualified prospect into a customer. Knowing how long a deal typically spends in your funnel before closing reveals where in the process improvements can be made.
Every salesperson's pipeline changes regularly. This is why these types of metrics serve as valuable benchmarks for monitoring current results and predicting future sales trends.

It's also crucial to manage unhealthy sales metrics. For example, a common sign of an unhealthy pipeline is having too many unresolved deals in hand.

Capturing a large number of qualified leads is always a benefit. But without an efficient and organized sales pipeline , many of them will get stuck in the funnel. Dealing with so many deals at once can female database make it unclear where you should prioritize your time.

Visualizing where each prospect is in the funnel and what activities advance them makes sales failure less likely. The best way to keep your sales process flowing is to:

Identifying slow stages and prospects. Review your sales velocity metrics to identify which prospects are taking longer than average in your funnel. Observe which stages are taking longer than expected and why.
Decide the best course of action. Evaluate whether you should eliminate slow-moving prospects from your funnel or perform different activities at certain stages to improve your deal flow.
Follow up once and for all. Before permanently eliminating a potential client, send them an email to reassess their interest. If you still see potential, consider keeping them. If not, add them to a future follow-up list.
Another action you may want to take is benchmarking. That is, taking data from your KPIs and comparing them with market benchmarks.

Benchmarking helps you see how your product or service performs compared to other similar products or services. Some benchmarks you can evaluate include prices, annual sales , market type, etc.

Now that you know what to measure and analyze to optimize your sales process, it's time to set specific goals.