List 5 KPIs each for Salesman, Order booker, Territory Manager, Area Manager, Regional Manager and National Sales Manager. Please mention the performance measurement criteria against each KPIs as well.
(Hint: The KPIs need to be SMART)

Answer :-

The Most Important Sales KPIs To Track For Measuring Sales Success

Work-styles may be changing, but there are still ways to keep track of your sales team’s productivity and success by tracking KPIs for sales. Thoroughly evaluate the metrics against the set goals for your team to ensure proper tracking, improve siloed workflows, and ramp up sales productivity.

Remember, today’s buyers are digitally savvy and expect a personalized experience.

1. Customer Lifetime Value :- Customer lifetime value (CLV) is an educated prediction of the total revenue expected from a single customer throughout the transactional relationship. Unlike sales quotas, CLV encourages sales reps to develop mutual connections with their prospects. How to Track Customer Lifetime Value

To configure the CLV metric, start by multiplying the average customer retention rate by the average number of purchases. Once you have the total, multiply that number by the average deal total.

2. Customer Retention Rate ;- In sales, the customer retention rate refers to the number of recurring customers over a specific amount of time. To determine your customer retention rate, you’ll need to know:

A)The number of customers at the start of a period

B) The number of customers at the end of a period

C)The number of new customers gained during that time frame

3. Sales Conversion Rate :- Marketing and sales should be working in tandem to qualify new leads and transform them into paying customers. Implementing a sales conversion rate is an efficient way to integrate both departments and increase sales success.

How to Track Sales Conversion Rate

The two most popular ways to measure the sales conversation rate are as follows:

Conversion Rate = (Total Number of Sales / Number of Qualified Leads) X 100

4. Sales Cycle Length :- The average amount of time between the first touchpoint with a prospect to closing the deal is also known as the sales cycle length.A short sales cycle is usually optimal. However, there is a sweet spot.You don’t want to rush a potential buyer into a sale they aren’t ready to make. Conversely, a long sales cycle can make them feel undervalued.By measuring the length of your sales cycle, you can forecast won deals based on the number of leads in your pipeline during a specific time. How to Track Sales Cycle Length To get your average sales cycle length within your specified time frame:

Sales Cycle Length = Length of all Deals by the Day / Total Number of Deals

5.Conversational Intelligence :- While individual and team quotas are intrinsically connected to the sales process, look beyond the numbers when it comes to prospects. Put yourself in their shoes. A deeper emotional connection is necessary to sway today’s tech-savvy decision-makers.Enter conversational intelligence — arguably the most important sales KPI you should be tracking, and for a good reason. How to Track Conversational Intelligence

he searchable timeline format located directly in your inbox gives you a birds-eye-view into your entire sales team’s communications. Browse historical Salesforce data, and gain insight into every email chain, meeting, and call, all in one place.

With streamlined visibility into customer conversations, you can evaluate the quality of communication, identify action steps, and personalize any needed follow-ups.