the vital metrics every sales team should be measuring

The Vital Metrics Every Sales Team Should Be Measuring

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1. Introductions & Housekeeping……………………………………..32. Choosing the right metrics………………………………………….53. How to measure your metrics correctly…………………………...134. How to leverage data to find insights……………………………...205. Biggest mistakes when trying to make sense of their data……..236. How to make data-driven decisions……………………………….267. Q&A…………………………………………………………………...328. Get in touch…………………………………………………………..33

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Table of Contents

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Bob LempkeVP of Sales, Chartio

Pouyan SalehiCEO & Cofounder, PersistIQ

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Pouyan Salehi

PersistIQ

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Choosing the Right Sales Metrics

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Of all the things one could do to ensure the success of a sales organization, identifying, tracking, understanding, and incentivizing reps with sales metrics is perhaps one of the most important.

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“An increased access to data doesn’t always result in

an increase in sales performance.”

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1. Look at your sales process

Process first, then tactics

It’s going to be different for each company, so you’ll have to figure out what works best for you

Be strategic

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2. Establish a “Leading vs. Lagging” Mindset

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Leading Indicator: strategic steps taken to trigger future outcomes.

What short term activity will help us achieve our long term goals?

Examples: Calls made, emails sent, demos booked, etc.

Lagging Indicator: The results of the effort that came before it.

What was the outcome of the sales activity?

Examples: total sales, margins, number of customers, etc.

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2. Establish a “Leading vs. Lagging” Mindset

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3. Come Up with a Theory

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Ask yourself smart questions about your buying personas.

What are the most basic day-to-day activities that will help your reps reach your team and company goals?

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4. Interview Your Reps

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Ask Top Performers what they’re doing differently and why they think they’re doing well.

Ask your Bottom Performers what could they improve on and why they think they’re behind.

Any theme emerge?

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5. Polish Your Theory

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Your main KPIs will remain the same, but other important metrics will shift and move with your business and the market.

It’s important that the metrics that you track evolve with your company.

Turn this into a learning/insights engine.

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How to measure Your Metrics Correctly

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Main metrics and KPIs will look different for every company depending on many factors.

Start with results and move in reverse through the pipeline.

Then back forward through the funnel and draw correlations.

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Possible Metrics to Measure

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● Activities● Connects● Conversations with DMs● Meetings booked● Meetings happened● Meetings converted into qualified Opportunities● Pipeline Generated● Opportunities (or Pipeline) Closed Won● Opportunity Expansion

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Be Careful

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Incentives affect how reps perform.

The law of unintended consequences.

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“People (and sales reps) are motivated by incentives, so if you’re tracking and incentivizing the wrong

metrics, you could get very unintended outcomes.”

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Looking at the Funnel

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Go as high as you need up the funnel until you can fully understand your business model, but don’t lose focus on the fact that the end in itself is revenue generated.

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Bob Lempke

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Fired Up About Actionable Data

PersistIQ has help ID what is important…

What do you do with that insight?

● How do you leverage KPI’s to WIN?● What can go wrong?● Best Practices in Data Driven Decisions...

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How To leverage your KPIs

Make them yours…One size does not fit all…

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How To leverage your KPIsDiffering approaches can make a huge impact…Challenge the status quo…think differently!Allow problems to be attacked from different angles...

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How To leverage your KPIs

● New Sales Qualified Leads by SDR and team● Call volume and overall activity tied to SDR’s● New MRR and ARR by week/month● Average Selling Price (ASP)● Net new customers● Pipeline growth● Ongoing Trial activity and health of each

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Biggest Mistakes in Data...

Too much Data is Pushed…The Numbers say…

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Biggest Mistakes in Data...No ownership…Not my info…Different approaches…

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Biggest Mistakes in Data...Data diversity...Most Companies that are “data driven” push data to like roles…All Sales People should make 100 calls a week…

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Ideas for Data-Driven Decisions

The ones closest to decision, should have same access to actionable data…

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Ideas for Data-Driven Decisions

After all, they are closest to the action…

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Ideas for Data-Driven Decisions

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Data needs to be accurate and real time...look forward...allow adjustments before the problem…

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Ideas for Data-Driven Decisions

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Rear view DATA is never good…

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Data Governance

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Should be Governance…Accessible, Visible, Useable

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Summary

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Make your insights your own and find a tool that allows you to do so…

Don’t assume generic data applied to all….make it yours…allow for thought and customization...by role, by individual, by territory...

Let the people making decisions have visibility to the data that drives the best decisions…

And use data/insights to think ahead/predict...make it real time and adjust on the fly…not after bad things happen!!

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Bob@Chartio.com Pouyan@PersistIQ.com

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Get In Touch

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Want to see how PersistIQ can help your sales team be more effective?

Let us show you!

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CHARTIO

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Get More Out of Your Sales DataLearn how Chartio helps you make better business decisions.

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