What are KPIs?
KPIs or Key Performance Indicators are key performance indicators that are used to measure the success of a company in different areas, such as production, finance, customer service or the sales department. Knowing these indicators allows us to know the state of our company at a given moment and helps us make strategic decisions to improve its performance.
Why are sales KPIs important?
In the sales area, KPIs allow us to know the performance of our team and help us identify areas for improvement and solve problems as soon as they occur.
In addition, they help us set clear goals and measure progress toward them. By knowing our KPIs, we can set realistic and achievable goals, which will allow us to improve our performance and increase our sales.
What sales KPIs should sales managers know?
Quite frequently our customer service receives inquiries from managers of different areas in relation to the possibilities of obtaining statistical data from their service.
As it is a service that, in addition to companies, is used by large call centers, we have a statistical system that offers a huge amount of data and that can also be exported to a spreadsheet or software such as Looker Studio.
However, on many occasions, it is better to have 4 or 5 very simple and well-recognized indicators that we can later develop based on a specific dimension.
There are different KPIs that can be useful in the sales area, the most basic are usually:
- Number of sales opportunities generated: measures the number of sales opportunities that are identified by the team.
- Sales conversion rate: measures the number of sales opportunities that are converted into effective sales.
- Average Order Value: Measures the average value of each order placed by the sales team.
- Sales target achievement rate: measures the number of sales targets that are achieved by the team.
These sales indicators are usually the simplest to know since they are aggregated data, given their simplicity they can only offer us information on the general progress of the business, but they will be of little help for decision making.
We will extract the true valuable information if we achieve that the company’s information systems are capable, at least, of providing said data disaggregated for different dimensions.
For example, one of the advantages of the Fonvirtual service is that, as it is a multi-channel communications system (that is, it manages calls from different types of numbers to instant messaging) and also integrates with the company’s CRM, it allows determine the initial contact channel of the potential client so that we can break down the previous metrics for these channels, knowing which ones work best and promoting them.
Another possible dimension may be to know the basic KPIs but broken down by the agent in charge of that lead or by agent who has attended to that possible client at some point, in organizations where the client can contact several times and is not always attended by the same person. .
Continuing with the distinction by agent, in the cases of recurring purchase customers where customer service can be a very important element of the commercial department, we must take into account KPIs of the type
- Customer retention rate: measures the number of customers who return to make purchases from the company.
- Quantity/value of orders per customer: measures how many times a customer places an order with the company.
In summary, knowing and measuring these KPIs will help us to understand the performance of our sales team and will allow us to identify areas for improvement. This will allow us to increase our sales and improve our overall performance.
How can Fonvirtual help measure and improve these KPIs?
Fonvirtual offers a multi-channel virtual switchboard that integrates with the company’s information systems, such as CRM. This allows our agents to have all the necessary information about our customers in one place and improve our customer service. Thanks to this integration, we can measure and monitor our sales KPIs effectively. In addition, all of this helps us improve our lead-to-customer conversion rate and increase our retention rate.
In short, Fonvirtual helps us measure and monitor our sales KPIs, which allows us to make strategic decisions and improve our performance in the sales area. If you want to know more about our services and how we can help you improve your sales, do not hesitate to contact us.