Key Performance Indicators or KPIs are the strong metrics that helps businesses to keep in track of their orders and helps to determine the overall relative effectiveness of business’s marketing & sales efforts. Analysing and determining the KPIs will help businesses in many ways, also configuring of KPIs supports businesses to meet the needs of every team. The right key performance indicators, can determine what strategies will work and which ones aren’t.
Here are the top KPIs that help businesses to boost sales:
Return on investment(ROI) helps in measuring how much revenue is being generated by a specific marketing prospect. ROI is also considered as the most important indicator to monitor and assess revenue generated with an investment. This KPI is significant for every business as it has direct impact on sales.
Customer retention measures the business’s effectiveness in supporting customer requirements also its cost effective for every business to engage and retain with old customers, as engaging with new customer’s costs more than engaging current customers. Adapting to this KPI will help in reducing sales time and sharpen business’s reputation.
Client Acquisition Rates
It’s natural that capability of every sales executive is different and client acquisition rates for some salespeople will be better than others. If there are large discrepancies between conversion rates, then that will be the pain point for business and monthly sales target achievement will get deviated. Hence this KPI will help to analyse the effective executives whose work will directly business.
On the whole, the above discussed KPI’s has direct impact on sales and by proper monitoring of these KPI will helps to boost sales and also results in improved business values. To know more about sales team and service team management techniques visit www.trinetraiway.com or feel free to contact us we can clarify your queries.