DETROIT, MI--(Marketwired - February 22, 2016) - Sales teams are driven by results, but it's not always easy to know where to focus the energy and attention required to close more business. LevelEleven, whose platform helps companies keep their salespeople and sales managers focused on the activities that will lead to sales, has released its inaugural Sales KPI Report that examines the elements necessary to manage a team around the key performance indicators (KPIs) that lead to sales.
The first-of-its kind study incorporates data from some of world's leading sales teams. LevelEleven analyzed the use of 1,500+ sales activities across 15,000 salespeople within 100+ sales teams that are using the company's sales activity management platform. Its aim was to identify the most common behaviors across sales roles and industries, as well as the timeframes generally used in goal setting.
The study reveals that calls (26%), wins (23%), and opportunities created (19%) were the most common KPIs set by sales teams. Other KPIs, like meetings (8%), demo completed (6%) and conversations (2%), while clearly important to the sales process, registered in much lower than expected. While that's not an entirely unexpected result, it does show that leading sales teams are consistent in the indicators they use.
"Trying to determine the sales activities that lead to sales has long been a mystery and guessing game for sales leaders. Top-performing salespeople just naturally do what's necessary to win, but the reality is that 80% of your salespeople aren't those natural born stars. Our goal with this study is to help sales leaders really think about what the correct metrics are for their sales teams, so they can manage with discipline and enable their front line managers to coach their sellers to success," said LevelEleven Founder and CEO Bob Marsh.
Marsh added that data revealing KPI trends is unprecedented: "The study provides a unique glimpse into how successful sales teams recognize the importance of managing around the leading indicators in the sales process, rather than just around lagging indicators, which you can't really control. While wins are the top priority for any sales team, and in today's technology-enabled sales organization, companies can finally help salespeople focus on the behaviors that matter and will lead to more revenue."
Furthermore, KPIs measuring quality, rather than quantity, aren't as prevalent as they could be. For example, "calls" is the No. 1 KPI for sales development teams (29%), but "talk time" only qualified as a unique mention. "We wanted to call out some of these less used KPIs, such as talk time and VP-Level Meetings, because we think they are progressive and that more sales teams should be considering these. Our goal is to not only report what top sales teams are doing, but also to inspire companies to think differently," said Marsh.
Other findings from "The Sales KPI Report" suggest that:
- Setting industry-specific KPIs is crucial, as these are often more compelling for teams than generic goals
- Teams are more motivated by short-term goals than long-term ones
LevelEleven is empowering a new movement in modern selling by helping companies identify the key activities and behaviors that lead to sales, and giving salespeople and sales managers a highly engaging continuous feedback loop on how they are performing and where they need to focus their time. Sales teams don't need to do more work faster; they need to know which key activities to focus on, which is what LevelEleven determines for them.
"Today's salespeople want to engage with their performance, and they want real-time feedback and coaching," said Marsh. "LevelEleven helps teams stay focused on the activities that lead to wins. Rather than merely reporting on KPIs, LevelEleven helps drive them."
LevelEleven helps companies increase the capacity of their sales teams by creating real-time visibility into day-to-day performance, predicting when performance is out of line and telling salespeople and sales leaders what to do about it. Founded in October 2012, LevelEleven has secured 200+ customers including Comcast, Zendesk, Symantec and Ford.