Different sales metrics are often used as a way to identify and keep track of how specific sales strategies are performing. With so many different platforms that track sales strategies and tactics, it’s easy to get overwhelmed with numbers and data. Being able to weed out the numbers that actually matter is almost just as important as picking the right sales strategy to use for your sales team.
Getting lost in statistics and data is common, especially among those who are new to outbound sales. The right outbound sales metrics can help you create a better profile of the right group of prospects and customers that your team may want to focus their attention on and craft a message that your audience wants to hear.
When you’re able to track the right metrics, you can see the actual outcome of your strategies and you can get a better idea of how team members are performing. We’ve gone ahead and picked the five most important outbound sales metrics for you or your sales team that matter the most and can help you track the performance of your strategies.
5 Sales Metrics to Keep Your Eye On
1. Email Engagement Metrics
When it comes to sending outbound emails, you want to make sure to keep an eye on a couple of different email engagement metrics. These metrics include an open rate, a click-through rate, other click rates, as well as bounce rates and unsubscribe rates. These numbers can help ensure that you aren’t over or under-sending emails and that you aren’t overwhelming your leads with too many emails. Emails that are engaging will have steady open rates and CTR’s.
2. Average Sales Cycle
If you’re not sure what a sales cycle is, it’s essentially the number of days it takes to convert a lead into a customer or a subscriber. You can calculate an average sales cycle by dividing the number of days spent on a sale in a certain period of time by the number of deals closed. An average sales cycle varies by company, the size of the sales team, and more and can also depend on the product you are selling and what your strategy is.
3. Ratio of Leads to Marketing Qualified Leads
The higher the ratio of leads to MQL’s at your company the better. When you have a low ratio, your company may be attracting many leads through marketing or outreach efforts but cannot convert them into real leads. You can calculate this ratio by dividing the number of MQL’s you have by the number of actual leads you have.
4. Time to Action
The less time it takes for a sales representative to reach out to a lead the better – which is basically what time to action refers to, how long it takes a salesperson to reach out to contact them. You want to make sure your team keeps their ‘time to action’ low but with enough time for a sales rep to properly research their lead.
5. Average Deal Size
When looking at the average deal size, you want this number to be as high as possible. When a company is referring to this metric, they are referring to the average amount that a subscriber or team pays when they buy your product or service. You can calculate the average deal size by dividing the total revenue you’ve created from deals by the actual number of deals closed.
How to Access Sales Metrics Quickly and Easily
While there are a large variety of different applications and software that can help you and your team calculate these sales metrics, there are also options available that let you not only create outbound sales strategies and also calculate analytics that go along with them all from one platform. Covideo lets you record, send, and track video emails.
Covideo allows you to stand out in the inbox, put a face to the name, record and share from anywhere, and measure viewer engagement. Covideos’ analytics show when your video emails are viewed, how many times they’re viewed, and exactly who has viewed them. See how our video platform works for yourself with Start a free trial where you can record and send unlimited videos. With Start a free trial, you’ll get instant access to all of our standard features, and you’ll be able to upload, record, send, and track video emails within minutes. Start a free trial!