Selling to other businesses is completely different than selling direct-to-consumer. In B2B sales, the stakes are often much higher, and closing the deal can be a more involved process.
That’s why defining and tracking relevant metrics for your B2B sales organisation is critical for success.
But which metrics should we be monitoring?
Here are a few suggestions…
1. B2B sales key performance indicators (KPIs)
Sales by product or product type
Sales from new business
Net profit margin
2. Sales productivity metrics
Percentage of time spent demoing
Percentage of time spent on the phone
Percentage of closed-won deals
3. New leads by source
4. Estimated revenue by lead source
5. Average lead response time
6. Pipeline creation by month
7. Marketing qualified leads (MQL) to sales qualified leads (SQL) conversion rate
8. Opportunities by lead source
9. Closed won opportunities by month
10. Customer Acquisition Cost (CAC)
Regularly tracking the right metrics for your B2B business and implementing changes based on what the data tells you can be a game-changer for efficiently driving sales.
If you’re unsure what metrics to be tracking, or want to explore any of these suggested KPIs in more detail, then get in touch.