Mindful Metrics

12 sales metrics to kick-start your sales analytics

12 must-have metrics to fuel your sales analytics

Few teams within an organization are as data-driven as your sales team. Each and every activity is measurable, and your challenge is often knowing what to track. With the proliferation of sales software tools like Salesforce, Pipedrive, and Hubspot, you now have more data at your disposal than ever before.

The question is, do you have more control over your sales performance than before?

In this post, we’ll help you unlock the power of your sales metrics using sales analytics. Read on to empower you team.

What is sales analytics?

Sales analytics is the practice of generating insights from sales data, trends, and metrics to set targets and forecast future sales performance. The best practice for sales analytics is to closely tie all activities to determining revenue outcomes and for setting objectives for your sales team.

Analysis should focus on improvement and developing a strategy for improving your sales performance in both the short- and long-term. A common example of a sales analytics activity is setting role-specific objectives for your team in the form of KPIs or metrics. For instance, setting a revenue target for your sales director while setting a sales productivity goal for your account management team.

Why monitor sales analytics?

If your business was a rock band, sales would be the lead singer. All eyes are on sales and revenue performance, and a strong (or weak) performance can become a potent rallying force for your entire team.

Monitoring sales analytics in the form of sales metrics helps increase your performance, optimize sales activities, and improve accountability. Your sales team has a wide range of activities to focus on and operate in a fast-paced environment. A well-defined sales analytics strategy provides your team with focus and clarity so they can concentrate on doing what they do best.

Sale analytics reports and dashboards

Data transparency when it comes to sales analytics is tricky. Many members of your team lack the training required needed to do ad-hoc reporting in CRM tools and are more focused on revenue generating activities like logging calls and completing demos.

That’s fair, too. You want your best reps selling, and your sales analysis should accelerate that, not hinder that.

A solution for team analytics is to display analytics on a sales dashboard. Ideally, the dashboard will be straightforward, intuitive, and communicate a clear message. This can be done using free tools like Google Sheets, PowerPoint, or Excel. Or it can be hooked up to a dashboard software solution (like Klipfolio).

Here’s an example of a sales analytics report generated using Klipfolio.

Sales Analytics | Sales Analytics Dashboard

Sales leaderboards for general consumption

Another positive way to increase transparency and accountability for your sales analytics process is to display a sales leaderboard. A leaderboard can be displayed on a TV and used to track revenue performance against a time-bound target. For example, tracking your team’s performance towards a monthly revenue objective.

Sales Analytics | Sales Leaderboard

12 examples of sales analytics metrics to monitor

When implementing sales analytics at your organization, you will want to start by taking stock of your sales metrics. Think about which metrics will inspire action and provide your team with focus.

If you’re just learning about sales analytics, then you may find it helpful to review a few examples. Here are 12 sales analytics metrics you may consider tracking.

Also see:

The 19 sales KPIs of modern sales teams

The death (and rebirth) of the salesman

How to create a KPI dashboard

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