These three metrics go beyond closing rates and click-throughs to uncover more opportunities to boost sales and revenue: 

1. Average customer relationship: How long does the average buyer continue doing business with your company? Does the average volume per sale increase or decrease over time? Does the frequency with which buyers make purchases decrease over time? If any of these numbers are shrinking, it may be time to survey past and current customers to find out why.
2. Average sales cycle: Are sales cycles longer than they were a few years ago? If so it could be an indication that: salespeople have drifted away from your company’s selling process, they’re spending too much time with stalling prospects or they’re not spending enough time building relationships with high-probability prospects.
3. Gross sales vs. net profit: What are reps doing to push high-profit products and services? Are they granting too many concessions? What’s your average profit margin and, more importantly, how does this year’s figure compare to what it was three or even five years ago? Shrinking profits may mean your salespeople are trying to add too much value to your products/services.

Also worth checking

How do your metrics stack up against major competitors? Figuring this out will certainly require a lot more digging, but getting some indication of your competitors’ key metrics is a good way to see how you measure up or determine if there’s something they’re doing that helps them close more.

Are you using any of these metrics at your organization? Let us know what’s working for you in the Comments Box below.

Tags: closing, concessions, metrics, revenue, sales, Value