Which sales metrics should I track for my business?

If you run a business or are a Sales Leader in your organization, then you might have come across this question often.

Which Sales metrics should you track may vary depending on the line of business you operate in. Based on your industry vertical, certain sales metrics would be extremely important for you to track while the same metrics might not make any sense for someone in another industry.

Nevertheless, there are certain Sales Metrics that are Industry agnostic and can help you measure sales performance irrespective of the line of business.

Here are the top 5 sales metrics you can track in your business


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1. Conversion Rate

This refers to the number of leads that got converted to successful deal wins. Monitoring this metric will help you to channelize your effort on the leads which have a high probability of conversion so that you can improve your revenue faster.


2. Average Sales Cycle duration

This refers to the average time it takes for your sales team to move a prospect from the opportunity creation stage to final deal closure. Monitoring this metric and aiming it to keep lower helps you to close more sales in a lesser amount of time. If you want, you can go more granular by monitoring the duration of each sales stage so that you get a flag whenever a deal is stuck in a certain stage for longer than usual.


3. Average Deal Value

This measures the average revenue you are bringing with every deal win. Over time, you should try to increase the average deal value and aim to grow the high-value accounts. This can be a powerful level you can use to pull up your revenue with the same amount of effort.


4. Topline & Bottomline Growth

These metrics help you visualize your revenue (Topline) and margin (Bottomline) growth over a period of time say monthly, quarterly or yearly. When you see the growth in numbers, it gives a clear and quantified validation of your growth.


5. Average Customer Lifetime value

This is an often ignored metric and people tend to associate it only with Saas businesses, but this is extremely important for any kind of business. Whenever you notice your average customer lifetime value is dropping then it’s a clear flag that there is something wrong with your offering which is leading to customer churn. This helps you focus on nurturing & retention efforts.


By the way,

If you liked reading this post, feel free to check out our tool at - ToolsonCloud CRM, where you can create wonderful custom sales reports and visualize your sales performance in real-time.

Moreover, it’s free.


How to drive CRM adoption in Sales teams?

You invested a lot of time as well as money trying to implement a CRM solution across your organization but it ended up as a failed project.

How does it feel? It doesn’t sound cool. Isn’t it?

But this is often the case with many organizations who are unable to derive value from their CRM implementation even after making huge investment in this regard. The biggest reason for CRM project failure is low CRM adoption among the end users of the system. If sales leaders can lead their team to adopt CRM faster, they can quickly start reaping tangible benefits out of their CRM implementation. 


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Here is what you can do to drive CRM adoption within your sales team:

By the way if you are still looking for a CRM software for your sales team, do check out ToolsonCloud Sales CRM.


1. Keep team involved from the beginning

When you are implementing a CRM solution in your organization, try to involve the end users from the beginning. Listen to their challenges, ask for feedback, implement their feedback. This way you make them a stakeholder in the implementation. When you respect others’ input, they tend to associate themselves as a part of the project. They tend to own it end to end. This way you stand lesser chances of failure since the end users are going to drive it in future on their own.


2. Choose an easy to use CRM

One reason why users tend to avoid using a CRM is due to the complexity of using it. The objective of implementing a CRM is to make the lives of the sales team simpler and easier rather than making it more complex by asking them to use a hard to use CRM. Always ensure to take trial of the CRM software and test its usability and user experience before making a final purchase.


3. Provide adequate Training

If the end users are not familiar with the terminologies, various stages and workflows in a CRM, they would hardly use it to maximum potential. Always provide adequate training to your end users on the various functions of a CRM and the purpose of using it. Making people familiar with the basic controls and letting them know the purpose of using it makes it much easier for driving faster adoption.


4. Provide appropriate user guide

When you are providing training, the users may tend to forget it overtime unless and until they are actually using it. Conducting regular CRM training sessions may not be feasible for numerous reasons. Assigning a peer to help a new employee to learn the tool may not bring out consistent knowledge transfer. This problem can be solved if you have a well documented User guide. It can serve the purpose of looking up for some on-demand information or clarification which the end user may have. You may request your CRM vendor to provide the same or may also refer to the knowledge base section of the respective product page such as we have it for ToolsonCloud Sales CRM.


5. Establish easy to follow CRM processes

Often the sales team tends to think of a CRM to be a database rather than a modern tool to manage your sales process. This ideology may prevent them from updating their sales activities in real time and they will end up updating the tool once in a while just to keep the data in place. This way the CRM system will end up reflecting stale and unusable data for the sales leaders to analyze and get insights as to where they can step in for certain tangible help. To solve this, you may need to establish well defined guidelines and processes which can serve as a single stop blueprint for your team to follow.


6. Create CRM Advocates

Creating CRM advocates or ambassadors from the end user of the tool is always helpful. Modern marketing revolves a lot around influencer marketing. You are much more likely to religiously try a new product if you were told about its benefit by an influencer having a similar background as yours. Your sales team will be able to appreciate the value of crm implementation only when they start using it. They will religiously use it for sometime only when you have CRM ambassadors from the team guiding them on the best practices and effective utilization of the tools.


7. Reward early practitioners

Getting the sales team to adopt a new tool can be tough. But it can be made easier if you start rewarding those early adopters who shall be setting up a benchmark and advocating best practices to peers. Reward the users who religiously update the tool and keep the status up to date. Reward the users whose CRM data is clean and is of high quality to derive fruitful insights out of it.


I hope you will find these tips useful for you. 

If you are looking for a CRM solution for your team, feel free to try out ToolsonCloud Sales CRM. It’s Free!


What is a Sales process and why do I need one?

This is one of the commonly asked questions from sales professionals as well as entrepreneurs who are getting into sales for their startup.

Let us explore more about the Sales process and the need for it in detail


What is a Sales Process?

Sales process refers to the well-defined steps for sales comprising various sales activities which helps in closing the deal thus leading to final conversion. The process of every organization may differ depending upon the industry in which they operate and the complexity of the business. However, there are certain common steps that are part of the sales process which are used as a reference. These are:


  1. Prospecting for Qualified Leads
  2. Pitching them the solution to generate interest
  3. Based on their interest, having further discussions with a detailed presentation, demo, etc.
  4. Negotiation on contract, pricing, and terms & conditions.
  5. Deal Closure
  6. Order, Invoicing, Payment follow-up, etc.

Sales Cycle

Using these steps as a reference, a Sales Manager or an Entrepreneur can easily build their sales process as per the context of their organization structure and process.

Well before we proceed, if you are planning to make use of CRM software to help organize your sales process, feel free to check out ToolsonCloud Sales CRM.


Why do you need a well-defined Sales Process?

More often we may find a defined sales process is only present in large organizations and not followed religiously in small businesses or startups. When the startups start scaling up, they realize their sales process is too complex to scale fast. This is where they start looking towards building an effective sales process.

Here are some of the reasons why you may need a well-defined sales process…


1. Scalability

When you have defined steps to follow as part of your sales process, it becomes a framework or a blueprint for your team to follow. Your team can just follow the blueprint and easily close the deal faster compared to when each of the sales representatives tries to follow their own approach which might work or might not.


2. Easy to Learn, Train, Mentor

Having a clear process that is followed across the team helps your team to easily learn that and they are equipped to easily train your new joiners to onboard them faster. Otherwise, if there is no process, whenever you assign a mentor to the new joiner, the takeaways will always be different for each new joiner and may lead to misalignment.


3. Low Customer Acquisition Cost

When you have a well-defined process, teams tend to spend less time recreating already validated experiments and focus on what works. This allows them to close more deals in a lesser amount of time which automatically brings down your sales operation cost. Lower the sales operation cost, lower becomes your customer acquisition cost. This way, you will be ready to close more deals with the same amount of sales budget.


4. Better Brand Image and Customer Loyalty

Customers often love organizations that follow a well-structured approach to whatever they do. This also includes how they sell and onboard the customers. If the sales process is streamlined and smooth, the customers will also be able to sense it based on the different sales touchpoints they experienced and how fast they were onboarded. Having a good onboarding experience always helps build a better brand image and customer loyalty. Loyal customers often become evangelists and they refer more customers to you.


I hope you liked reading this post. A good CRM tool always helps the sales team to work on a pre-planned and streamlined sales process. This also helps the sales manager keep track of the state of any particular lead so that they can pitch in to help out the team at the right moment. 


If you are yet to try out a CRM tool for your team, feel free to check out ToolsonCloud Sales CRM. ToolonCloud CRM allows you to create your own sales process with the help of customizable deal pipelines and stages.


How to manage Remote Sales teams?

 Since the start of the Covid19 pandemic, a majority of workers have moved to remote work. This has equally impacted sales teams in both positive as well as negative ways. On one side, the workforce is able to save more time for families which was earlier spent on travel. At the same time, organizations feel they miss the benefits of working with a co-located team such as more collaboration, more knowledge sharing, healthy competition as well as team relationships.

Moreover, sales teams tend to be more impacted with this since a majority of sales used to be face-to-face sales and while working with co-workers, they used to get trained on various sales techniques while watching their peers do the same.

Like it or not, Industry analysts predict that remote work culture is here to stay for longer than we would have imagined. In this post, let us explore the ways you can manage your remote sales teams better.

Remote workers

1. Well Defined Sales Process

When the sales teams are co-located, teams can easily align themselves with the process their peers follow for sales. But when it comes to remote teams, salespeople rarely get to watch their peers throughout the day to learn the best practices. As a sales manager, the best you can do is to define a well structured sales process for your team so that team can follow them as a guidebook. This way you can avoid unnecessary experimentations by every team member to reinvent the same wheel.


2. Make SMART goals specific to remote selling context

Remote selling differs from the way sales happen in co-located teams or face to face selling. So you may be required to redefine your sales goals for remote sales context by assessing your past sales data. Try to make SMART (Specific, Measurable, Achievable, Relevant and Time-bound) goals for your team as per the remote sales context. This will ensure the team can quickly align themselves on the same.


3. Make team aware of goals and commitments

Remote teams get very less chance to meet the sales leaders of the organization. This may bring in the risk of working in silos where the team is not having a clear and common understanding of the organizational goals and commitments. It is the duty of the sales leaders to constantly communicate their business objectives, short term and long term goals. Keeping everyone on the same page and reinforcing it with constant communication helps everyone aligned to common goals and timelines.


4. Invest in remote tools for effective sales and team collaboration

While working remotely, a team may require a set of tools which can help them collaborate in real time as well as engage in remote sales. Some of the tools may include online messenger for your organization, VoIP telephony, video meeting tools like Zoom, Google Meet, etc. 

In addition to these, the sales team shall require a CRM software so that the team can collaborate together on multiple leads, deals, sales tasks, etc. If you are yet to adopt a CRM software for your business, feel free to check out our cloud based CRM software which is built for startups and small businesses.


5. Monitor sales reports & metrics

In order to gauge the performance of your team, it is necessary to regularly track your sales reports and metrics. This helps you step in at the right time and help out your team members exactly at the time when they need some help closing a deal. 

You can track the same via an excel sheet or if you have a notable team size, it is recommended to use a cloud CRM which can generate real time reports for you without you having to manually extract data, clean it up and create dashboards in excel sheets over and over again.


6. Organize remote social gatherings for team building and connect

The real missing element in remote teams is the social connect and the relationship which they have with their peers. Organizing online social gatherings periodically helps build the connection and relationship among the co-workers. Nobody likes to be working in a factory around machines. They like it when they find humans with whom they connect, share and learn from them.


7. Take every opportunity to celebrate, appreciate and motivate

To keep up the momentum, you should make use of every opportunity to celebrate small milestones, appreciate the performers to drive innovation as well as motivate your team to keep up the same momentum. Sales is largely motivation driven. Do every bit to keep the team’s motivation level high.


8. Train, Give feedback and Mentor

During the course, many new members shall join the team who may be new to your way of working. Support them with good training, give constant feedback and mentor them towards success. This way you shall build a successful team work culture for long term growth and success.


By the way if you are yet to try our CRM software, feel free to try out 

ToolsonCloud Sales CRM, It’s Free.

Stop committing these 15 Costly Sales Mistakes
I tend to read a lot of books on Sales Methodologies. Now that I have read a numerous materials on Sales, I felt let me share a list of Costly Sales Mistakes or Situations which every sales professional should try to avoid in a Sales Process.

As per my experiences, the following 15 types of sales mistakes should be avoided at any cost:
Sales Negotiation Guide for Beginners

What is Sales Negotiation?

Sales negotiation is a strategic discussion between the Buyer and Seller before finalizing the terms and conditions of the deal. 

The Objective of any Sales Negotiation process is to arrive at an agreement on the terms and conditions of the deal.

The best practice for a long-term relationship between Buyer and Seller is to try to cut the deal with a Win-Win for both parties. Sometimes, it may also require the parties to lead to a little bit of compromise on certain terms but ultimately helps close the deal.