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This question has been closed, and points have been awarded.
Sales Kpi For Sales Analysis
Posted By: Sylvester* on 9/14/2004 11:14 AM (CST) 250 Points
Which KPI do you use for sales analysis purposes? How would you carry out sales analysis for the purpose of management planning?

Posted by: W.M.M.A. Accepted Answer
9/14/2004 11:34 AM (CST)
There are various indicators:
New Business from old customers
New Business from certain vertical
They depend upon what you are attempting to achieve...sometimes project by project.

Do you want to know about B2B or B2C? May we have a bit more information about the type of project you are working on?
Thanks,

Randall
WMMA
 
Posted by: thinkmor Accepted Answer
9/14/2004 12:27 PM (CST)
Hi Sylvester

Do you know your business' key performance drivers?

Are you monitoring, interpreting or wanting to optimize your sales?

Are you selling products/services? use a sales team?

A little more info will help everyone to help you more.


Zahid Adil
 
Posted by: ASVP/ChrisB Accepted Answer
9/14/2004 10:10 PM (CST)
My business is in developing measurable strategic plans which involves looking for all the right measures - and KPIs are just a particular type of measure - for all aspects of a multitude of business types and industries.

There are too many answers to your question - because the question itself lacks specificity - which makes me think you have not really challenged yourself about what you really want to measure.

Here's a few questions for you:

What kind of business is this?

Industrial, Retail, Wholesale, Manufacturing, B2b, B2g, B2c, B2Whatever, etc...

What are you measuring? Strategy, Tactics, Departments, Individuals?

What is the objective you have in measuring? In other words, when the KPIs come in, what will you do with them?

Exactly what do YOU mean by Management Planning?

Look forward to your reply...

ChrisB
 
Posted by: jose04 Accepted Answer
9/15/2004 7:27 AM (CST)
Hello Sylvester

What i understand from your note is your need to understand what KPI's are used for sales analysis and how to carry them out.

The Sales Department could have a Key Performance Indicator (KPI) like "Minutes A Customer Is On Hold Before A Sales Rep Answers". Other KPI's could be the NO. of cheques dishonoured to the No. of cheques collected, the down time for customers, the % of increase in profits, % of increase in sales through new accounts et. al. The list can be finalised and optimised keeping in mind the resources you have (no. of salespersons, amount of money and time you have on hand etc.), the stakeholders interests, motivation level of staff etc. THere is no limit on the innovations you can have to churn out KPI's. It makes a sales task more fun and quite challenging while getting you the obvious rewards for sincerity and sheer effort.

Hope these thoughts help!!
 
Posted by: mbarber Accepted Answer
9/15/2004 11:30 PM (CST)
Conversion rates is the CRITICAL component.

Lots of call centre managers miss the point completely when they try and include minutes per call as a metric. IT JUST DOESN'T HELP! Immature managers and bosses use it as a means of trying to keep costs down.

The true costs is getting a customer to call in the first place. Spending an extra few seconds or minutes converting that call into a sales is critical.

If they insist on looking at timing, combine it with a look at conversions - how many long calls were converted (on that call or subsequently?) then you have a realistic measuring tool.

Another to look at is cross selling add ons in the call and upselling of the call from one level to the next.

And of course you might want the bean counters to compare things to some other sales divisions like - the cost of that phone call versus the cost of a face to face rep on salary, driving out in a company car to the prospects house for an appointment made three weeks later and that the prospect forgot all about.

I'm not advocating either stream (f2f above phone) just that businesses need to be honest and realistic when establishing measurement matrices.
 
Posted by: carstens* Accepted Answer
10/2/2004 4:11 PM (CST)
My suggestion is to look, independently, at each stage your prospect has contact with you during the sales process. In a B2B environment, this may be introduction (ad, pr, etc), prospecting (phone, tradeshow, in person), presentation (inperson, brochure, etc.), proposal, close. There could be many more stages. If you track the numbers and review key messages, value proposition and uncovered objections at each stage you should begine to see correlation.

Over time, tracking the numbers will give you more direction as to the number of prospects you need to reach to get to presentation, numbers of presentations needed to get to proposal, number of proposals written to get to closes, etc.

Reviewing the messages, value props and objections is often harder since it is qualitative, but can provide much insight.

Hope this helps. It's based on B2B (products and services). I think I've worked on only one consumer based account in my 14 years!
 
Posted by: Val (Moderator)* Moderator Response
10/6/2004 9:14 PM (CST)
Hello all. I am closing this question, since its more than 2 weeks old. We do this to make sure members' contributions are rewarded in a timely manner and to improve the visibility of newer questions. Thanks, so much, for participating!

Val (Moderator)
 


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