Enterprise companies need to constantly improve the way they sell, or else risk falling behind the competition. Basic sales analytics is important, of course, but often metrics like “units sold” or “average price” don’t tell the full story. Today’s highest performing sales teams are taking advantage of advanced sales enablement analytics.
The following are four vital metrics made possible by sales enablement technology that can help to sophisticate any sales process.
1. Admin Time Spent
One of the biggest challenges to sales departments around the country is being bogged down by administrative work. Top salespeople can waste hours per day using legacy systems, significantly cutting into productivity. Tracking the ratio of admin time to time spent selling can elicit some important insights into your company’s sales process, and clearly identify any systems that are the most counterproductive to improving sales.
2. Most Effective Assets
Throughout the lifecycle of a sale, a salesperson might end up using dozens of different marketing and sales materials, including brochures, PDFs, videos, and images. Knowing which of these materials resonated with customers and pushed them closer to a buying decision is extremely valuable. The most effective assets can be promoted to other salespeople, and future asset creation by the marketing team can be driven by data.
3. New Tech ROI
For many sales managers and directors, huge investments in technology – mobile apps, CRM, databases – can leave a bitter taste in the mouth. How do you really know that these expensive investments are actually improving sales? Tracking technology engagement against sales effectiveness is a great way to establish structure around measurement of tech ROI. Get answers about what works and what doesn’t and see if future investments in technology would be worth it.
4. Sales to Existing Customers vs New Customers
Not all sales are created equal. It’s important to track which sales are to existing customers versus those made to new customers. Both are highly valuable: repeat customers represent long-lasting, high value relationships, while new customers represent expanded reach and opportunity for your sales teams. Tracking this metric can also help you identify strengths of sales teams and individual salespeople.