Knowing your numbers is imperative to successful sales. But are your salespeople tracking all the key metrics? Even if you have an amazing sales team, if they don’t keep up with their numbers, they could definitely fall short of their targets.
Of course, knowing what to track (as well as how to track it) is important. Sometimes the data can be overwhelming and hard to read. But if your reps are tracking the right metrics, it will help them succeed.
Here are three metrics every seller should pay attention to.
1. Inbound Leads
This one is probably the most obvious. Your salespeople need to keep track of all the new jobs they have in the pipeline. Some of the specific metrics that come with tracking inbound leads include the following data.
- The contact details of the prospect.
- How they discovered you.
- The date they reached out.
- The services that interest them.
- The result (did he become a client?).
By following this information, your salespeople will eventually become better at what they do. They’ll start to get a sense of what constitutes a “qualified lead” and which leads might not even be worth pursuing.
2. Lead conversion rate
Your lead conversion rate is a data on how many leads turn into real jobs. Some sellers call this their “success rate.” By tracking your lead conversion rate, you can find out more information about what helped that person become a customer. If you don’t pay attention to this information, you’re missing an important opportunity to understand what helps convert prospects into customers. This information should absolutely guide future sales.
3. Monitoring of existing works
While it’s easy for your salespeople to keep up to date with what’s going on in the pipeline, they also need to keep up with existing customers. Retaining existing customers is an important part of doing business. After all, happy customers often do some of your best sales and marketing work for you by recommending you to others.
You should definitely track “work in progress” via job cost data. This will help you ensure that your work is on budget. This is very important information when it comes to staying profitable.
You should also track existing work to look for opportunities to sell improvements. It is not uncommon for a client to suggest that they consider additional work in the future. It would be beneficial for you to keep track of this so you can follow up with them at a later date.
One of the best ways to track this information is through landscaping software. You can even set a reminder of when you need to contact that customer to make the sale.
Manage all this data
Keeping track of all these different metrics can seem overwhelming. But the power of data should not be overlooked. When you keep track of this information, you help support your sales process and increase your chances of success.
Although many companies still use QuickBooks or Excel spreadsheets to track this type of data, there are better ways. With landscape management software, you can have all the data you need at your fingertips. This will help you make informed decisions and push more leads into your sales funnel.