3 Key Sales Metrics That Benefit From Visual Tracking
Sales will always be the lifeline of any business, regardless of the evolution of sales technology. Closely tracking team metrics helps to reveal ways in which your department may continuously improve. Through digital signage that tracks KPIs, sales managers and front-line staff can quickly understand and act upon important data for lead generation, pitching and conversion ratios.
1. Contacting New and Qualified Leads
The number of new and qualified leads determines the quantity of cold and hot leads for sales staff to convert through pitches. Consistently replenishing the number of leads at the top section of your funnel improves volume in the middle and final portion of the sales process. Lead generation should always remain a priority. Without fresh leads, growth isn’t possible. Digital displays that provide real-time updates on progress toward lead generation objectives help to keep the sales team on track. Instead of bombarding personnel with numbers and reports, the display may include a simple chart that compares targeted and actual OKRs in real time.
2. Qualified Lead Pitch Rate
In the middle of the funnel, your sales team interacts with qualified leads who have the means and desire to purchase your product or service. Explaining the details of what you’re selling to someone who isn’t interested tends to be inefficient. As such, pitching to qualified leads represents a productive use of time and effort. This metric also provides the basis for conversion statistics, linking the beginning of the sales funnel with the final portion of the process. Visual workplaces may arrange their digital displays to communicate a variety of information pertaining to the pitch process. A chart displaying the volume of pitches alongside a daily goal motivates staff to exceed their quota. The most common objections noted by qualified leads can help salespeople prepare to respond well to frequently asked questions that derail pitches. For sales teams that use a segmented pitch approach, displays could reveal bottlenecks in the delivery, helping personnel adjust scripts and techniques accordingly. Visually tracking qualified lead stats preserves one of the most valuable resources for your business.
3. Conversion and Churn Percentages
Tracking conversion ratios closely ensure that all the time spent acquiring, qualifying, and pitching leads doesn’t go to waste. Closing doesn’t stop when a customer agrees to buy. To reduce returns and churns, staff must reassure and support the buyer, locking in the conversion. Displays that compare the amount of sales lost after conversion remind sales personnel that after-sales duties are as valuable in the process as pre-sales duties. A pie chart that helps visualize the chunk of sales lost after conversion communicates the message quickly and clearly. Broadcasting conversion rates of top sales staff over displays serves as a motivational reminder for other members of the team, while acknowledging the good work of high achievers. Adding pictures of staff makes this type of metrics display more effective. Some team members may visualize what it takes for their face to appear as a top producer in front of their peers. Visual tracking of sales metric communicates OKRs rapidly, regardless of the portion of the sales funnel you target for improvement. Strategic placement of monitors and TVs may serve as reminder, motivation and congratulations for sales staff, combining multiple streams of information into seamless visual aids.