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How to Identify and Measure the Sales Metrics That Matter - VanillaSoft - ContactCenterWorld.com Blog

How to Identify and Measure the Sales Metrics That Matter

Sales teams care about numbers. From revenue to growth, from conversion rate to customer lifetime value – sales metrics that matter helps us understand what’s going on and what we need to accomplish. After all, “what gets measured gets managed.”

So life should be good when today’s sales and marketing technologies are enabling us to collect as much data as we can, right?

Well, not so fast… now we’ve got a different problem.

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We have too much data! Many sales managers are trying to measure anything and everything without a clear sense of what’s really driving business. Meanwhile, salespeople are drowning in metrics and getting lost in the noise.

The real challenge in utilizing data to drive sales is identifying the right key performance metrics (KPIs) so you can focus on activities that have a high impact on your bottom line and profitability.

How to Identify Sales Metrics That Matter

A KPI-driven sales approach provides the focus a sales team needs to grow a business in the right direction. For such an approach to be productive, you first have to identify what needs to be measured and here’s how:

1. Start with the Big Picture

First and foremost, you need to define the primary business goals you want to focus on in a specific timeframe.

Do you want higher revenue or more growth? Do you want to increase customer acquisition or improve customer retention?

The KPIs you measure needs to support the achievement of your goals. Otherwise, your sales teams will be doing a lot of busy work that isn’t aligned with the company’s vision.

2. Look for Leading, Not Lagging, Indicators

The most important question you need to ask is, “What activities are really significant?”

To get a good answer to that question, you need to identify the leading indicators.

Leading indicators measure the proactive steps required to create long-term success. Examples include the number of sales calls made per period, total opportunities added/lost, compliance with the sales process, and pipeline weighted value.

On the other hand, don’t get overly distracted by lagging indicators. This data shows what’s already happened – total sales, renewals, acquisition costs, etc. – and your sales team can’t change the past. Measuring lagging indicators is important; it lets you know if you’ve achieved your goals. However, only focusing on lagging indicators doesn’t allow you to change outcomes – you can only use the information to change behaviors for the next month or quarter. If you’re monitoring leading indicator KPIs, you can course correct during the period to reach your sales goals (lagging indicators).

Here’s an infographic from Sales Hacker that identifies leading indicators and how to know what the data you have available means.

3. Understand What Makes Your Customers Tick

What would you do if you knew what triggered your customers to buy? You would do more of it, wouldn’t you?

To find out what makes your customers proceed further down the purchasing path, you need to deconstruct your sales funnel by examining the different stages: prospecting, qualifying, advancing opportunities, closing, and post-sale.

Look at each stage from the customer’s perspective – what happened during the purchasing path that triggered them to move closer to conversion? Was it a phone call from your sales team? Did an email elicit a response? Maybe a social media message piqued the prospect’s interest. At what point in the sales cycle did these actions take place? Identify the triggers and evaluate their effectiveness. Try A/B testing scripts, emails, and other messaging to improve effectiveness.

Analyze your sales and marketing activities and their impact at different phases of the buyer’s journey. Use this information to help formulate some of your leading indicators to ensure your team consistently takes actions required to generate sales.

4. Get the View from the Frontline

Your salespeople interact with leads and customers every day and are a valuable source of information to help identify the right triggers and activities.

Don’t just interview your top performers. Instead, talk to sales reps with different track records so you can compare and understand what activities correlate with sales success.

Your sales reps are on the frontline and have insights about customers that management isn’t aware of. Listen to them, enjoy the front row seat, and do your best to understand what makes your customers tick and how you can best equip your sales representatives to address the pain points and needs of potential customers.

5. Assess Information to Identify Trends

After gathering input from many sources, it may feel like you have a lot to measure.

However, tracking too many KPIs can make things too complicated and dilute your team’s focus.

Sometimes you just have to pick a horse and ride it. Identify commonalities and trends from all the information you’ve gathered and choose three to five KPIs to focus on. Keep track of the results so you can fine-tune what and how you measure.

Make the Metrics Work For You

Gathering and measuring KPIs is just the beginning. You must also communicate their impacts and implications to the sales team clearly and improve visibility and transparency of sales with the organization at large.

Use sales tools that allow organization-wide access to these metrics and encourage salespeople to chime in with their insights. Summarize and visualize the data using dashboards, scorecards, and reports to make the data easy-to-digest. Use role-based access to make sure team members can get the appropriate type and amount of information.

Of course, KPIs aren’t set in stone, and they can change as a response to market trends and customer preferences. Revisit these steps periodically to validate you’re tracking the sales metrics that matter to help you stay on top of your game.

Source: https://blog.vanillasoft.com/how-to-identify-and-measure-the-sales-metrics-that-matter/

Publish Date: November 20, 2017 5:00 AM


2020 Buyers Guide Outsourced Contact Center Services

Page: 123
1.) 
2P Perfect Presentation

Customer Experience Services
Outsourced contact center services It is one of the most important service that provided by "2P" and specialize to provide services for the establishment and operation of contact centers, customer service and Customer Experience, the most important services provided by this unit are:

• Establish, manage and operate call centers and supply the required systems and applications.
• Customer Feedback Technology
• Social Account Management System (customer interaction, reports, marketing and e-publishing services)
• Customer Relationship Management System (CRM)
• Artificial Intelligence Systems and Automation Services (AI & Automation)
• Business Intelligence Technologies and Performance...
(read more)
PH: +9661151099888

2.) 
31 West Global Services

We offer after-hours, business hours & 24/7 customer support & help desk services. Over the last 17 years, we have helped 130+ small & mid-sized business companies across US & Europe.
PH: 877-262-5030

3.) 
Abacus Cambridge Partners

Combining unmatched experience and specialised skills across more than 40 industries and business functions, Abacus works at the intersection of business and technology to help organisations meet their key priorities and create sustainable value for their stakeholders. Headquartered in the United Kingdom and offices in the United Arab Emirates, the Kingdom of Saudi Arabia, Pakistan and Egypt, Abacus has more than 800 global customers and over 2800 customer-focused employees working in 30+ countries.

We offer the following services:

Business Process Outsourcing
Customer Experience and Customer Relationship Management
Enterprise Resource Planning
AI & Robotic Process Automation
API...
(read more)
PH: +44 (0) 207 397 8725

4.) 
Advantage Communications

Our industry is changing fast, consumers want the best service and a seamless contact center customer experience. In response, we've re-invented our contact centers with next-generation technologies and new, improvements to customer service.

Conversational AI. IVR. 100% Natural Language. Operational Intelligence. Social Media Customer Support Services. ChatBots - all supported by our skilled contact center agents to make the customer experience better.

We're now ready to PowerUp your contact center customer service to new levels of excellence with our winning combination of people, passion, and technology.
Are You Ready?

5.) 
American Help Desk

Help Desk Services
24/7/365, 100% US-based help desk, with phone, chat, sms and email capabilities as well as ticket and alert management/remediation services.
PH: 800-997-0977

6.) 
Ameridial Inc.

Inbound customer service and sales support
With 25+ years of experience and stability, Ameridial offers clients an unparalleled record of providing reliable, cost-effective inbound and outbound live-voice solutions. We also offer click-to-call services, live chat, social media monitoring and IVR. Ameridial is headquartered in Canton, Ohio with nine call center locations in Ohio, Maine, and North Carolina. Specialists in: Healthcare, Communications, Direct Response TV and Radio, Non-profit. Results-based pricing.
PH: (866) 775-4755

7.) 
Ballena Media

Business Process Outsourcing
Ballena Media provides near-shore Business Process Outsourcing for Contact Center services to companies seeking to improve quality and efficiency while saving 30% to 40 % for similar services in the U.S. The company’s value proposition is based on its long term relationship with clients showing it can meet or exceed any metrics performed whether in-house or outsourced.
SERVICES
-Contact Center Services
-Customer Service Support
-Sales Support
-Web Data Collection
-Telephone Data Collection
-Data Services
-Infrastructure Design
-Workforce Support
-And More
RESPONSIVE
24/7 coverage, always finding the best solution for your business
PH: (760) 338-7057

8.) 
Bgcomm Contact Solutions

Outsourcing
Our Professional Services cuts across multiple verticals and horizontals. Our services cater to both the Private and Public sectors, providing the technology and resources in the transformation and improvements of our clients’ people, processes, and profits.
PH: +1 213-660-2066

9.) 
Boomerang Marketing SA

BPO, Financial and Customer Services
Boomerang SA provides BPO, Financial and Customer Services. We are an Outbound Contact Centre with a proficiency of selling Short and Long Term Insurance products, as well as cross-selling Value Added Products. We provide Inbound Customer Services to the International Market. We service both B2B and B2C sectors, ranging from but not limited to Lead Generation, Appointment Setting, and a full sales spectrum.
PH: +27216738100

10.) 
CallNovo Contact Center

Multilingual Customer Service
Inbound and outbound customer service/after sales support is the two general types of call center services offered globally by Callnovo. Inbound services are performed by reps who field calls from customers. Outbound reps make calls to customers to follow up on or inquire about account issues.

Regardless if you are looking for a telephone, email, live chat or email customer service/after sales support, Callnovo outsourcing call center team is right here to help. With more than 10 years’ experience, Callnovo one-stop multi-language customer service/after sales support call center team takes care of clients’ every single detailed customer service/after sales support need. We are happy to pr...
(read more)

11.) 
CGS

CGS is a global provider of business applications, enterprise learning, and outsourcing services that support clients’ most fundamental business activities.

With optimized call center resources to serve global clients, CGS offers a unique hybrid approach through automation and live agents in its contact centers located in North America, South America, Europe, Asia and the Middle East. Its AI-enriched chatbot and RPA technologies complement the customer support services provided by thousands of multilingual call center agents. CGS supports many of the world's industry-leading global brands from retail, hospitality, healthcare, technology, and telecom. The company's innovative, scalable and...
(read more)
PH: 1 (212) 408-3800

12.) 
CLCA Call Direct

Virtual Assistant Services
Ensuring you have an efficient back office team is vital to running a reliable and cost-effective business. Our virtual PA services allow you to have either a live call answering solution that will transfer a call or take messages in absences or a non-voiced option for back-end operations meaning your business is always available to customers.

Your dedicated virtual PA will be matched to your business and your requirements and will answer any calls or emails with your company name and a tailored script that you will approve before our team take live calls.

This means that non-essential business or personal tasks are taking off your plate which can only benefit your essential business p...
(read more)
PH: 0333 600 5005

13.) 
Conectys

Conectys delivers a wide range of contact center services and call center outsourcing solutions. We service clients in over 35 languages from our locations in Romania, Belgium, Philippines, United States, Poland, Turkey, Portugal, and Taiwan as well as through a robust Work from Home team.

We speak English, German, French, Spanish, Italian, Dutch, Portuguese, Polish, Czech, Romanian, Hungarian, Bulgarian, Russian, Greek, Turkish, Arabic, Swedish, Norwegian, Finnish, Danish, Mandarin Chinese, Japanese and more – all for seamless communication across cultures.
PH: 646-381-1599

14.) 
Connecta Center

- Prospecting, commercial appointments
- Collection
- Surveys
- Customer Care
- Technical Support
PH: 5222690888

15.) 
ContactWorks

We specialize in all aspects of customer contact services:
• Customer Service
• Technical Support
• Employee Help Desk
• Customer Acquisition / Retention
• Order Processing / Administration
• Quality Monitoring
• Consulting
PH: 512-220-2200

16.) 
CPM Group

Sales, Service and Support
Sales: Customer Acquisition, Lead Generation, Cross Sell, Retention, Intervention and Win-Back

Service: Care Lines, Customer Service, Product Recall and Data Breach Notification

Support: Analytics, Data Entry, Quality Assurance, Fulfilment, Receivables Management, Social Media Management and Mystery Shopping
PH: +61 3 9211 2300

17.) 
Eckoh

Contact Centre Services
Our agents can supplement your existing contact centre by providing help with taking Secure Payment, donation requests, overflow and out-of-hours calls, IVR support, Web Chat and Social Media responses. We ensure your customer card data is completely secure, thanks to our PCI DSS compliant environment.

Unified Agent Desktop solution brings together disparate solutions into one user-friendly interface. It improves efficiency and enhances both the agent and customer experience.
PH: 01442 458300

18.) 
EMS

EMS provides a complete offering of customer support services:
Inbound/Outbound Abilities
Email/Text Solutions
Interactive Voice Response (IVR)
FAQ/Knowledge Base Maintenance
Live Chat
Preemptive Chat
Web Call Back/Co-Browsing Services
Social Networking
Forum Monitoring
Foreign Languages

Methods of communication and support can vary widely for each unique program. Different goals need to be addressed with different customer support strategies. Many of our clients take advantage of multiple support strategies to provide superior service for their end-users.
PH: 800-233-8811

19.) 
Gatestone & Co.

Customer Contact Center and Business Process Outsourcing (BPO) Solutions.
Since 1978, Gatestone & Co. has been providing Customer Contact Center and Business Process Outsourcing (BPO) solutions to a variety of markets globally.

We offer fully-integrated multilingual Contact Center facilities operating 24/7 x 365, located in North America, Latin America and Asia. We have made tremendous investment in our technologies and process innovations to ensure all the right business outcomes while elevating customer satisfaction and brand loyalty.
PH: 1-800-900-4238

20.) 
InfoCision

Over nearly 4 decades, InfoCision’s passion for performance and proven results have driven an evolution to become much more than a contact center. Leverage our contact center resources, or we can help your internal center become more efficient and effective.

We are interaction experts committed to delivering superior customer experience and KPIs, while simultaneously reducing overhead, increasing return on investment, saving time, and minimizing risk. Our people and technology help your brand thrive with 24-7-365 support (phone, chat, email, text, social media monitoring etc.), Level 1 PCI compliance, and a complete, customizable suite of enhancements for internal customer care organizat...
(read more)
PH: 330-670-5817
 
Page: 123



View more from VanillaSoft

Recent Blog Posts:
5 Ways to Improve Call Productivity and Boost Your Bottom LineNovember 27, 2017 5:00 AM
How to Identify and Measure the Sales Metrics That MatterNovember 20, 2017 5:00 AM
Tips for Hiring The Right Inside Sales RepresentativeNovember 13, 2017 5:00 AM
Cold Calling: What Kind of First Impression Are You Making on Prospects?October 13, 2017 5:00 AM
Have You Asked Your Sales Reps What They Need to be Successful?August 17, 2017 5:00 AM
Are You Guessing or Asking What Your Customers Want?August 9, 2017 5:00 AM
Sales Call Tips: One Bad Sales Call Doesn’t Define Your Ability to SellJuly 28, 2017 5:00 AM
Call Recordings; The Good, Bad, and UglyJune 28, 2017 5:00 AM
Call Center Tips and Tools for Your Sales TeamMay 26, 2017 5:00 AM
How to Sell Insurance Over the PhoneMay 5, 2017 5:00 AM

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