the quickstart guide to tracking sales data

The Quickstart Guide to

Tracking Sales Data

Tracking sales data is a lot like dieting…

You know you should do it

You know it’s good for you

You might even know how to do it

But do you? Probably not.

Tracking your sales data isn’t hard

Activity | Quality | ConversionYou only need to worry about these three metrics:

Activity

How many cold calls did you make?

How many cold emails did you send?

How many storefronts did you visit?

Activity

Knowing your activity will help you

track where your time is being

invested

Quality

How many decision-makers did you reach?

How many of them were qualified for your product?

Quality

Use this to determine whether you’re

pursuing the right prospects and to

test the quality of your lead list.

Conversion

How many qualified decision-makers moved on to the next step?

(Demos, trials, call backs, purchases, etc…)

Conversion

The conversion metric highlights the

strengths and weaknesses of your pitch

and close

Okay, but how do you use your sales data?

Here are three examples of how you can

use sales data to identify and solve sales

problems

Example one: Low reach rates

Activity: 100 cold calls

Quality: Reached two (2%), qualified two (100%)

Conversion: Closed one (50%)

Where’s the problem?

Example one: Low reach rates

Although you have a qualification rate of 100%

and a conversion rate of 50%, you’re only

reaching 2% of the prospects you call.

Example one: Low reach rates

For a solution, you might consider:

• Calling at different times

• Visiting storefronts in person

• Sending cold emails

Example two: Low qualification rates

Activity: 100 cold calls

Quality: Reached 15 (15%), qualified two (13%)

Conversion: Closed one (50%)

Where’s the problem?

Example two: Low qualification rates

Although your reach rate is better and your close

rate is still acceptable, almost none of the leads

you are calling are qualified for your product.

Example two: Low qualification rates

For a solution, you might consider:

• Revising your customer profile

• Buying a new lead list

• Exploring inbound sales opportunities

Example three: Low conversion rates

Activity: 100 cold calls

Quality: Reached 15 (15%), qualified ten (66%)

Conversion: Closed one (10%)

Where’s the problem?

Example three: Low conversion rates

Your reach and qualification rates are much better,

but your conversion rates are through the floor.

Example three: Low conversion rates

For a solution, you might consider:

• Using a sales script

• Delegating or outsourcing sales

• Finding a new career

Data benchmarks

Use the following guidelines to

benchmark the success of your sales

campaigns

Cold calling minimum benchmarks

Reach rate: 15% of total called

Qualification rate: 30% of total reached

Conversion rate: 50% of total qualified

Cold emailing minimum benchmarks

Open (reach) rate: 30% of total sent

Response (qualification) rate: 30% of total

opened

Conversion rate: 50% of total responses

If your sales aren’t

bringing the results you

want, use this flow chart

and optimize from the

top down.

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