Businesses that are able to maximize efficiency – accomplishing the most tasks with the least amount of resources (namely time and money) – generally come out on top.
And data and analytics metrics provided by Salesforce CRM is the answer to many businesses’ quests for efficiency. Salesforce metrics give you the power to manage your big data to make it work for you, leading the charge to your success.
Here are a few of the most important Salesforce metrics a CRM can provide to your business right when you need it.
1. Lead Conversion
Wouldn’t it be nice to see where you may be wasting money and where you’re getting the biggest bang for your IT buck?
The information gathered by the Lead Conversion metric can help ensure that your funds are going towards the marketing efforts which are bringing you the highest return or the most leads. That equates to less time and money wasted.
Additionally, this is key in partner scenarios to enable effective partner relationships while minimizing time on those that do not grow business.
2. Sales Cycle
Speaking of time wasted, do you know the average time it takes to close a deal right now in your organization.
If you’re able to spot areas where it seems that the amount of time put into a sales effort is outweighing the time it takes to close a deal, it may be time to look at and revise your sales cycle processes.
Additionally, detecting and minimizing leakage at varying points in the Sales Cycle is key to determining appropriate sales opportunity velocity and indicators that may keep fewer deals from being lost.
Salesforce analytics can show you this data quickly and drive actionable insights that are business-appropriate.
Understanding the sales funnel is key for forecasting and tracking performance of your business. It’s therefore important to be able to easily measure and communicate pipeline trends, and Salesforce’s pipeline metrics allow you to do just that.
Salesforce supports both weighted and unweighted pipeline to give you additional insight as well as support for annualized revenue as pipeline.
Using the pipeline, you can track your lead nurturing efforts, and see if they’re working.
4. Open Opportunities
As you track your leads through the pipeline, it’s also good to know how many leads you may be juggling at once. The Open Opportunities metric will let you know that number.
Salesforce natively allows you to segment this on stage, last activity, probability, and owner. This allows for quick insights into the pipeline health, areas for focus (both for potential and coaching) and gamification through leaderboards to promote effective sales behaviors in accordance with key business strategies.
For more information on the many other Salesforce metrics in your CRM and other data analytics solutions for enterprises, contact Ad Victoriam Solutions.