If you want to succeed in sales, you need to start tracking your data. Learn about the three sales metrics you should be tracking, and how to use those metrics to optimize your sales funnel.
2. Tracking sales data is a lot like dieting…
You know you should do it
You know it’s good for you
You might even know how to do it
But do you? Probably not.
3. Tracking your sales data isn’t hard
Activity | Quality | Conversion
You only need to worry about these three metrics:
4. Activity
How many cold calls did you make?
How many cold emails did you send?
How many storefronts did you visit?
10. Okay, but how do you use your sales data?
Here are three examples of how you can use sales
data to identify and solve sales problems
11. Example one: Low reach rates
Activity: 100 cold calls
Quality: Reached two (2%), qualified two (100%)
Conversion: Closed one (50%)
Where’s the problem?
12. Example one: Low reach rates
Although you have a qualification rate of 100% and a
conversion rate of 50%, you’re only reaching 2% of the
prospects you call.
13. Example one: Low reach rates
For a solution, you might consider:
• Calling at different times
• Visiting storefronts in person
• Sending cold emails
14. Example two: Low qualification rates
Activity: 100 cold calls
Quality: Reached 15 (15%), qualified two (13%)
Conversion: Closed one (50%)
Where’s the problem?
15. Example two: Low qualification rates
Although your reach rate is better and your close rate is still
acceptable, almost none of the leads you are calling are
qualified for your product.
16. Example two: Low qualification rates
For a solution, you might consider:
• Revising your customer profile
• Buying a new lead list
• Exploring inbound sales opportunities
17. Example three: Low conversion rates
Activity: 100 cold calls
Quality: Reached 15 (15%), qualified ten (66%)
Conversion: Closed one (10%)
Where’s the problem?
18. Example three: Low conversion rates
Your reach and qualification rates are much better, but your
conversion rates are through the floor.
19. Example three: Low conversion rates
For a solution, you might consider:
• Using a sales script
• Delegating or outsourcing sales
• Finding a new career
20. Data benchmarks
Use the following guidelines to benchmark the
success of your sales campaigns
21. Cold calling minimum benchmarks
Reach rate: 15% of total called
Qualification rate: 30% of total reached
Conversion rate: 50% of total qualified
22. Cold emailing minimum benchmarks
Open (reach) rate: 30% of total sent
Response (qualification) rate: 30% of total opened
Conversion rate: 50% of total responses
23. If your sales aren’t bringing the
results you want, use this flow
chart and optimize from the
top down.
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