B2B sales metrics helps one keep a tab on the performance of the sales process.
It also makes the process optimized as you become aware of the shortcomings and further improvise it to reach the target. Every organization needs to have the sales metrics to analyze and plan the right strategy for better performance.
The below infographic gives you a clear understanding of the sales metrics:
It is the sales garnered after reaching out to new markets.
New sales= (Sales from a new prospect/Total Sales)*100
Example: A business generated a good number of sales. The total sales included both the sales from the old market and the new market. Now you have to find the percentage of new sales from it, so it would be the new prospect sales (80) by total sales (180) multiplied by 100.
New sales = (80/180) *100= 44.44%
Closed deals are the number or percentage of deals within a specific time frame.
The success rate of closed deals in current month= (Number of deals won)/(Number of deals won + Number of deals lost)*100
Example: One can win a number of deals, along with losing a significant one.
If you win 20 deals this month and lose 10 deals, then the success rate = {20/(20+10)}*100= 66.66%
It is the amount of profit generated from a number of sales.
Profit= (Total income/ Total investment)*100
Example: You invested $10 billion and got sales of $100 billion then your income= $90 billion
Profit= (90,000,000,000/10,000,000,000)*100= 900
Every customer who used a service or product, has a certain level of trust on the brand, which can be known from the net promoter score. It helps quantify the customer reviews.
NPS= (Percentage of customers giving positive reviews) – (Percentage of customers giving negative reviews)
You should know whether a customer would promote the product or not.
Example: If the customer gives positive feedback like 9 or 10, then they are the promoters.
If they rate it as 7 or 8, then they are neutral. If they rate between 0 to 6, then they do not trust your brand, and are non-promoters
So, if the percentage of the customer giving positive reviews= 90%
Percentage of customers giving negative reviews= 10%
NPS = 90%-10%=80%
Sales representative spent a considerable amount of time speaking on the phone. To calculate the productivity, you need to have the data on the number of hours speaking on phone, and total working hours.
Productivity= (Time spent on phone/ Total number of working hours)*100
Example:
The number of working hours is 9, time spent on phone= 5
Productivity= (5/9)*100= 55.55%
Customer acquisition cost is measuring the investment in converting a prospect into a customer.
CAC= Money spend to acquire customers/ customers acquired
Example:
You spend $25000 to acquiring customers, and brought 50 new customers in the process.
So, CAC=$ 25000/50=$ 500 every customer
B2B sales metrics are required to streamline the sales process further and make it more effective. The above metrics could act as a perfect guide for your business process to achieve the target.