Sales KPIs are a tricky endeavor. First of all, it is a paradise for every person dealing with KPIs. The sales area of a company is predicated for KPIs. There’s so much data available, allowing us to track and monitor so many KPIs. However, on the flip side, that can lead to a so-called KPIs paralysis. More isn’t always better — especially when it comes to KPIs.
The Idea Behind This Sales KPI Post
So why did we put together this blog post with so many potential sales KPIs? Because we want to inspire. Or in other words, we want to show what can be possible. Nonetheless, you should definitely not go for all —or even a considerable portion— of the KPIs.
On the contrary, you should carefully select those KPIs that are in line with your business goals. Moreover, it is essential to select only those KPIs that fit your company culture — keep that in mind.
20 Sales KPIs Overview
For all you experts who don’t need detailed explanation here’s a quick overview of the sales KPIs introduced with this blog post:
- Sales Growth
- Sales Opportunities
- Number of Calls/Mails
- Quote Volume
- Sales Closing Ratio
- Average Quote Value
- Sales Cycle Length
- Positive vs. Negative Reply Rates
- Pipeline Value
- Sales By Region
- Quote Ratio
- Sales By Contact Method
- Average Cost Per Lead
- Customer Lifetime Value
- Number of Meeting
- Sales Per Representative
- Average Profit Margin
- Inbound Leads
- Upsell Rates
- Sales Revenue
Want to know more about KPI visualization? Here’s our approach
The Details: 20 Sales KPIs You Should Consider To Track
1 — Sales Growth
Probably one of the most basic yet most important KPIs. The KPI puts sales revenue numbers in a certain period in relation to a similar period. Monthly Sales Growth is probably the most prominent example in this context. However, depending on your business, it can also make sense to use different periods (daily, weekly, quarterly, etc.)
2 — Sales Opportunities
The KPI counts the number of newly created sales opportunities, aka persons/companies interested in your service/goods.
3 — Number of calls/mails
Very often, calls and/or emails represent the very first step of a sales cycle. Therefore, it is crucial to track the sheer number of calls and emails. Worth mentioning that it is super important to put that KPI in relation with subsequent (number of leads, etc.) KPIs. However, the KPIs build an important fundament to assess the results of your entire sales process.
4 — Quote Volume
The KPI collects the financial volume of quotes provided to potential clients in a defined period. Again, usually, this KPI is calculated on a monthly basis.
5 — Sales Closing Ratio
A highly relevant KPI to identify the weaknesses of your sales process. The KPI puts your signed deals to relation with the opportunities of previous sales stages (prospects, leads, quotes, etc.). Accordingly, you can identify which steps of your sales process are working smoothly or need improvements.
6 — Average Quote Value
The KPI calculates the average value of your proposals. The KPI is hugely relevant to provide proper forecasts.
7 — Sales Cycle Length
Another KPI that is highly relevant when it comes to forecasts. The KPI measures the number of days (weeks, months) from the first outreach (or inbound touch) to the final contract sign-off.
8 — Positive vs. Negative Reply Rates
A KPI that assesses the replies you receive in the context of emails or calls.
9 — Pipeline value
The KPI Calculates the value of your entire sales pipeline. Accordingly, it takes all stages (prospects, leads, quotes, etc.) into account.
10 — Sales by Region
A KPI that calculates the revenues of your products or services according to sales regions. Of course, the regions depend on your business.
11 — Quote Ratio
The KPI calculates the number of quotes you’ve submitted in a certain period concerning the resulting orders. Like other KPIs, you can apply different periods (day, week, month, etc.) to the KPI.
12 — Sales By Contact Method
The KPI assesses the performance of different contact methods. Worth to mention that this KPI only works if you are applying different contact methods (email, calls, inbound, etc.)
13 — Average Cost Per Lead
A highly relevant KPI that provides insights on both marketing and sales activities. The KPI calculates the costs related to the creation of a single lead. Costs can be connected to marketing campaigns, the effort for calls, emails, etc.
14 — Customer Lifetime Value
A KPI that no solely focus on short-term sales but on strategic aspects. Therefore, it is a vital KPI that shows how much revenue is generated by a single client over time.
The KPI is calculated as:
Lifetime Value = Gross Margin % X ( 1 / Monthly Churn ) X Avg. Monthly Subscription Revenue per Customer.
15 — Number of Meetings
Meetings, either on-site or digital, are usually part of longer sales processes. Most often, you require meetings after approaching potential clients with emails or calls. Of course, it massively depends on the service or goods you’re are offering. Again, you should put the KPI in context with other KPIs.
16 — Sales Per Representative
An essential KPI, especially if you are running a more extensive sales department with many representatives. It merely calculates the revenue generated by each sales representative.
17 — Average Profit Margin
Obviously, sales teams first and foremost concentrate on revenue. However, it is also essential to take cost into account and create KPIs that highlight the profit margin. Again, this works best for a specified period (weeks, months, etc.)
18 — Inbound Leads
Although the KPI does not directly assess your sales representatives’ performance, you should consider measuring it. The KPI calculates the number of leads created due to inbound approaches.
19 — Upsell Sales Rates
Instead of measuring revenue with entirely new clients, the KPIs calculates revenue that has been created with existing clients.
20 — Sales Revenue KPI
Last but not least, probably the most important KPI. The KPI simply measures revenues that have been realized in a defined period. The KPI is actually the most aggregated yet prominent figure.