Would you get in the car to drive to a place you’ve never been without directions, GPS, or Waze? Of course not. So why do so many companies think they can get to the “next level” without metrics, goals, or KPI’s?
I’m seeing Sales teams without revenue goals, Marketing teams without monthly lead, MQL, or SQL targets, and Customer Success teams without renewal or up-sell goals. It’s baffling. How do your employees know when they leave work each day if they have had a successful or unsuccessful day? How does the company know if they are on track to reach their revenue target for the year?
Here are ideas for metrics, by department, to get you started if you are ready to put your pants on and be a “Big Girl” company.
The SDR team:
Activity Metrics:
- Calls
- Contacts connected with
- e-mails sent
- Appointments set
- Appointments completed
- Appointments that converted to pipeline deals
- % of deals closed that originated from the SDR team
The Sales Team:
- Appointments set
- Appointments completed
- Opportunities created
- Opportunities advanced
- Total Pipeline value
- Change in net pipeline value
- Revenue YTD vs. LY vs. goal
Customer Success Teams:
- Churn rate/ Renewal rate- $ and units
- Code Red Accounts
- Failure to launch accounts
- Upsell/Cross-sell revenue generated
This should get you started.
I recently saw a 10% increase in renewal rates the same month I put a target in place for a client I’m working.
Sometimes all it takes is a map to the destination!
