In fact, with the right data, the company can judge the effectiveness of its domestic policy; Managers can make the right decisions to effectively control their teams; And sales reps can track their pipeline, business and business performance in real time.
The most used business performance indicators in the company are the rates and ratios
- Customer/Prospect Conversion rate
That’s the number of new customers compared to the numbers of people or companies surveyed. It Is without a doubt one of the KPI’s (key performance indicators) that interests most vendors, to judge the effectiveness of their discourse and commercial techniques.
However, to go further in the analysis of the relationship with the client is interesting to put in parallel this relationship with:
- Customer Retention Rate
In fact, the acquisition of new customers is important to the growth of the company, but it is an expensive process. Retaining and retaining customers guarantees the company’s long-term sustainability and profitability. In Addition, to generalize, loyal customers are satisfied customers, it can be deduced that the offer of the company is, therefore, according to the expectations of the market.
In Order To deepen the analysis of the conversion rate, it is also possible to analyze another key performance indicator that is:
- The conversion rate of each stage of the survey chain
Therefore, the Manager can measure the effectiveness of business strategies, control, judge and modify the weaknesses/strengths of this strategy. Optimizing the prospecting phases to accelerate your sales process maximizes customer’s conquest costs.
- Sales volume
Depending on the activity, sales volumes can be analyzed per day, per week, per month or even quarterly. The Manager can set the goals more accurately to make them motivating for vendors. With modern CRM, sales reps can see in real time and at any time are in the realization of their goals. The same is true if your goals are financial:
- Sales values
In the same way, sales can be tracked in the turnover. Reconcile The 2 allows the company to know the average basket of a customer. This information is useful for the marketing Department whose mission is to facilitate the work of the vendors and give them the keys to facilitate the sales. A commercial and phased marketing service should allow the company to see sales grow
The above examples are generic. The performance indicators and the measurable proportions are very numerous and depend to a large extent on the business activity and its objectives.
KPIS (key performance indicators) should be:
Relevant to your company’s expectations,
Achievable based on the data you collect