- The 3 sales metrics that will matter most this year
What sales metrics are going to matter to your sales team next year? Will it be the amount of calls you make? The amount of free trials you are generating? What if something new and exciting comes along? The 'old' sales game is another year older and a new way of thinking is starting to show amongst sales professionals...
The general consensus is that sales metrics are going to be far less activity based - like those phone calls and free trials - and more about the quality of the relationships built with prospects. In short, there is a shift from quantity to quality. We are moving our focus away from customer acquisition and instead focusing on customer retention. After all, there is more value in a strong, healthy client to company relationship.
Based on this consensus, we've found the sales metrics that will matter most in 2019.
2019 sees a change in the pitching attitude that angles itself more towards finding out and valuing customers' opinions. To make the most of this metric, you might need to create a method for customers to provide their feedback at every possible opportunity. By doing this, you give your customers a voice. This is one of the best ways to create a long and meaningful relationship with your customer.
You could even hold a customer focus day. Invite your most prominent prospects and have an informal conversation over coffee or lunch to find out exactly what it is they have to say about your company.
Your product success depends on how successfully it performs for your customer. Did you manage to solve a pain point that was so key in the sales conversation? Does it improve their performance in the desired area? Ultimately, this metric focuses on how your customer feels long after they have purchased the product. Selling with no after care is no longer best practice. Instead, you should follow up and keep in touch with clients to keep your relationships strong. It might seem like more effort, but it makes your upsell opportunities greater in the future.
What is your customer retention rate? This is the number one metric to indicate the loyalty of your customers and if you have become a brand-focused business customers are attracted to. If your customers are leaving the minute their contract is up, it's likely you aren't developing a deep enough relationship. You need that loyalty to keep your customers purchasing time and time again. This will make a huge difference to your retention rate, and in the long run to your purchase level. Loyal customers are 83% more likely to recommend your business. This, in turn, will help build your brand authenticity, credibility and drive more customers towards you.
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