Opportunities form the lifeblood of a sales organization. Your sales development reps (SDRs) spend their days trying to source opportunities. While your account executives spend their days trying to transform opportunities into customers.
As an inside sales manager, you need to keep a close eye on opportunity metrics. Because if your SDRs aren’t sourcing enough opps or your AEs are dropping the ball it can lead to a bad quarter. And as any sales manager knows, one bad sales quarter can quickly turn into a bad sales year.
In our recently-released Complete Guide to Inside Sales Analytics, we were sure to include a section on opportunity metrics, since opportunities are integral to predicting revenue. From our eBook, here are the three most important opportunity metrics that 100% of B2B inside sales leaders should be tracking.
How many dials should your team make per day to achieve your opportunity creation goals? This metric is both predictive and analytical, shows you both how much effort is needed to create an opportunity, as well as how efficient your current team is. Knowing approximately how many dials it takes to create opportunities can help ensure that your team is properly staffed and that reps are keeping busy enough to move leads to the next stage.
Sales development reps are often given an opportunity quota rather than a revenue quota. This means that they are expected to open a certain number of opportunities each month (known as an opportunity goal). By tracking how many opportunities are being sourced against this goal, you can predict whether there will be enough opps available for AEs to make their numbers.
If SDRs are falling short of their opportunity goal, it’s an excellent opportunity to take a deeper look at their individual metrics. How many prospects are they dialing or emailing? How many meetings are they booking? If their activity metrics look like they’re on point, then dive even deeper to check the quality of their emails and phone conversations. Listening to call recordings is a fantastic way to gauge whether an SDR is owning it or striking out. Our call evaluation checklist offers some awesome ways to help reps improve on their calls.
This metric measure the total number of times an account executive dials or emails a contact associated with an open opportunity. This is important since sometimes, deals get stuck and take a long time to close. It’s vital to ensure that reps are reaching out to open opportunities often enough to move deals forward. If you see opps that don’t have enough contact attempts, you might want to check in with AEs to make sure that they are doing their due diligence on each opportunity. After all, it can take many contacts with various decision makers at an account in order to move an opp forward.
Jesse WestDirector of Lifecycle MarketingRevenue.io
Jesse Davis West is Director of Lifecycle Marketing at Revenue.io, focusing on improving the experience and maximizing the lifetime value for customers across their entire journey. Drawing on 11 years of B2B marketing experience, Jesse is passionate about communication, branding and strategic marketing. He also plays a mean lead guitar and can throw down at karaoke.