Every Sales Manager Should Measure in 2021
Posted: Tue Dec 17, 2024 6:13 am
Sales managers, and field sales managers in particular, can often feel stuck in a fog. Without a physical presence in the field, it’s difficult to monitor your team’s performance.
Instead, they rely heavily on their field reps to be their eyes and ears. The best way for field managers to gain visibility into their team’s activity is to collect and measure their performance through KPIs.
In this post, we will cover what KPIs are in sales and all audit directors auditors email lists the KPIs and metrics you should be measuring. At the end of this article, we will share a free sales KPI template and calculator that you can use to start measuring your team’s performance.
What are KPIs in sales?
KPIs are metrics used to track how a company, department, or individual is performing against goals. Choosing the KPIs that are most relevant to your industry and business goals is key; focusing on the wrong ones can be costly for your business.
KPI stands for key performance indicator. In sales, KPIs can come in many different forms to measure specific activities. Sales managers, reps, and even marketers all have sales KPIs they need to track.
To save you some time, we’ve narrowed down a list of commonly used KPIs, identifying the ones we believe are most important for managing field sales teams.
KPIs for sales managers
Sales volume by location
By comparing sales volumes across all locations, including brick-and-mortar stores and online transactions, you'll see where demand for your product is highest and lowest. From there, you can figure out why.
If sales volume is high in region A, there may be higher demand there, in which case you can focus on customizing certain products and services for that region. Or, if you're comparing numbers across brick-and-mortar stores, you can take advantage of A/B testing.
For example, if two locations see relatively similar sales volume in January, try running a promotional sale at one location and not the other in February to see if it boosts sales.
In addition to promotional sales, you can try other tactics such as shelf displays, discounts, coupons, demonstrations, or samples.
Competitive prices
While managers and business owners shouldn't track every move of competitors, keeping track of their prices can help create a competitive strategy. If your prices don't differ much, you may want to consider a price-matching strategy to ensure your customers get the lowest prices and you get the most sales.
Instead, they rely heavily on their field reps to be their eyes and ears. The best way for field managers to gain visibility into their team’s activity is to collect and measure their performance through KPIs.
In this post, we will cover what KPIs are in sales and all audit directors auditors email lists the KPIs and metrics you should be measuring. At the end of this article, we will share a free sales KPI template and calculator that you can use to start measuring your team’s performance.
What are KPIs in sales?
KPIs are metrics used to track how a company, department, or individual is performing against goals. Choosing the KPIs that are most relevant to your industry and business goals is key; focusing on the wrong ones can be costly for your business.
KPI stands for key performance indicator. In sales, KPIs can come in many different forms to measure specific activities. Sales managers, reps, and even marketers all have sales KPIs they need to track.
To save you some time, we’ve narrowed down a list of commonly used KPIs, identifying the ones we believe are most important for managing field sales teams.
KPIs for sales managers
Sales volume by location
By comparing sales volumes across all locations, including brick-and-mortar stores and online transactions, you'll see where demand for your product is highest and lowest. From there, you can figure out why.
If sales volume is high in region A, there may be higher demand there, in which case you can focus on customizing certain products and services for that region. Or, if you're comparing numbers across brick-and-mortar stores, you can take advantage of A/B testing.
For example, if two locations see relatively similar sales volume in January, try running a promotional sale at one location and not the other in February to see if it boosts sales.
In addition to promotional sales, you can try other tactics such as shelf displays, discounts, coupons, demonstrations, or samples.
Competitive prices
While managers and business owners shouldn't track every move of competitors, keeping track of their prices can help create a competitive strategy. If your prices don't differ much, you may want to consider a price-matching strategy to ensure your customers get the lowest prices and you get the most sales.