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Are financial indicators the only metric to measure sales team success?

Are financial indicators the only metric to...

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MyCustomer.com is currently researching what metrics sales leaders are using to monitor their teams, for inclusion in a feature later this month. We'd love to hear your thoughts and experiences about what performance measures you use in your sales teams. 

Do you stick to tried and tested financial measures, or do you have other metrics that you have found to be useful indicators of performance?

Please do let us know!

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By LinkedIn Group Member
16th Jul 2013 09:30

Comment on this post from the MyCustomer LinkedIn community

Client satisfaction scores are critical. It is imperative that your sales team sell, but ultimately your organization should also measure how good they are at selling to and retaining their customers. 

If sales is meeting clients expectations by offering them products that meet their companies needs, then the sales team should be able to continue to provide additional product s and services over the life of their respective customers. 

This can only be achieved if the customers are satisfied with the products and services sold to them by the sales organization.

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By LinkedIn Group Member
16th Jul 2013 09:31

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No but because financial measures are easily identifiable in sales, that is why financial ala cost/revenue are used. That is why sales is a love/hate kind of area. It is very accountable when some may not want something that direct.

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By GooglePlusUser
16th Jul 2013 15:32

Metrics or  Key Performance Indicators (KPIs) are unique to each business. There are no "Golden" set of KPIs in place. My advice is if you have the resource you monitor a combination of top level KPIs as well as tactical KPIs as the business may ask why this top level KPI has changed then the technical team can fire from the hip and explain the reason for this change.  I have uploaded my KPI template to share with this community. I hope it serves

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By LinkedIn Group Member
01st Aug 2013 16:04

Comment on this post from the MyCustomer LinkedIn community

I'm not a sales leader but as part of a sales team, I can say that financial indicators are the most tangible measures. However, we use metrics such as customer satisfaction, the amount of proposals we offer, and expanding the network of our agents for measuring sales team success.

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By LinkedIn Group Member
01st Aug 2013 16:05

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Ultimately financial indicators are THE indicator on the success or failure of anyone in sales - I mean, come on, to measure the success or failure of sales on anything else seems ludicrous. However, depending on the business or product there are a number of other "sub"-metrics to take into account in evaluating the relative success of a sales team. I would think these include any progress through the pipeline and closing ratio as well. Although with closing ratio, again depending on the business, one would also have to account for the lead source as a possible factor influencing this. 

There are a number of other factors that can predict future difficulties in sales including faulty services or products, bad public relations and inadequate marketing. 

But ultimately the buck stops at the buck!

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By Visebility
21st Feb 2014 11:43

I agree that financial indicators are by far the best indicator of success, a company I work for specialises in ROI and has recently implemented a process of business scorecarding to evaluate L&D initiatives when financial gains are hard to measure - it looks to be working well.

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