Jay Lee writes, "For example, if one stage of the sales funnel takes too long, it can impact your final conversion rate, as increased wait time can cause customers to lose interest in your product/service. By moving leads through the funnel faster, you can increase sales and keep potential customers interested in your product or service."
Paige Arnoff-Fenn (representative of Mavens & Moguls) agrees with the previous statement: “Sales cycle length is a key metric because it gives you insight into how effective your sales process is and helps you forecast sales more accurately.”
Here’s another expert opinion azerbaijan email list from Charlotte Utton: “The average sales cycle at Six & Flow is 60 days. We can track lags and leads and use this data to plan the resources required and assess the overall sales cycle. Also, because we have a team-first approach, we have a slightly longer sales cycle and it’s important for us that sales don’t go through too quickly and we also track those that are above average.”
And further: “If our closing times are consistently below average, we know we’re not doing enough to make sure we’re a good fit for the client and the client is a good fit for us and our team – that’s something we pay close attention to. When the data tells us the sales cycle is too short, we know we’re probably not moving prospects through our entire process, and that’s something we can fix.”
Number of points of contact
Experts emphasize the importance of the duration of the transaction in full-cycle marketing. However, an equally important KPI is Touchpoints, i.e. the number of points of contact. This refers to the total number of interactions with the lead through phone calls and emails.
Here's what Jeremy Cross (Team Building Phoenix) has to say about this: "We've found that it takes us an average of seven touchpoints to get a real lead. Maintaining that metric is critical to both maintaining and improving our sales."
And Home Grounds expert Alex Azuri argues that “the number of touchpoints a prospect has with marketing content and sales teams impacts customer acquisition cost.”
Projected sales volume
For example, Adam Smartshan (representative of Altitude Marketing) emphasizes that the volume of expected deals should definitely be forecasted in advance. The following formula can be used: the percentage of possible closing multiplied by the total volume of expected deals.
Specifically, he says, “This is a great check on the health of your sales funnel. It’s not a complicated metric, but that’s the whole point. It’s a clear picture of how you’re tracking. I call this the ‘sleep at night’ metric — if it’s above $X on the report, I can sleep well. If it’s below $X, it’s time to change something.”
Jamie Lee Kay (The Other Straw) shares the same opinion: “In our CRM system, I find it important to track the projected sales or deal volume. This helps us track the monthly projected sales revenue.”
Average income per account
No less important among all the recommended indicators to track is the average income per account.
According to Anton Ross (a specialist at Upgrow, Inc), “This metric is invaluable for comparing groups or cohorts of accounts month-over-month, identifying up and down trends.”
Lior Ohayon (of Hush Blankets) offers a broader comment: “Not only is this extremely important in terms of overall sales, but it’s also a great way to identify referral purchases. Most of the time, if someone buys more than one non-consumable item, it’s intended as a gift for a friend or family member.”