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Converting Leads into Deals
This metric provides an answer to the employment data paqckage most important question for sales managers regarding the number of leads that transform into sales.
Calculation formula:
Conv = Sales / Leads
Where:
Conv – conversion rate.
Sales – number of closed deals.
Leads – the number of interested consumers or leads.
The metric is ideal for a daily report of a sales manager. This indicator is important for analyzing the performance of the entire sales department. Conversion demonstrates the effectiveness of customer acquisition. You can analyze the buyer's path from the completion of the transaction and identify successful acquisition strategies. This data can be used to optimize the process of acquiring new customers and improve results at different stages of the sales funnel.
Conversion improves understanding of the target audience. It allows you to define the portrait of the consumer for whom the promoted USP is ideal. Based on this, you can adapt your methods and strategies in accordance with the location and behavior of such clients.
Test launches and trial version activations
A customer can't often decide to buy immediately after viewing an ad or description of an offer. In many cases, making a purchase decision, especially in a subscription-based (SaaS) business model, requires direct experience with the product. In such conditions, a significant part of the customer acquisition task falls on the product itself.
Test launches and trial version activations
Source: shutterstock.com
Analysis of test launches and installations is critical for assessing the effectiveness of the sales department: the more of them, the higher the chances of attracting "ready to buy" clients at the next stage. In addition, this allows you to receive a large volume of feedback from the target audience.
Consumers who progress to this level of the sales funnel are usually more easily converted into transactions than those who only showed interest through advertising or visited the USP page. Analyzing the monthly dynamics of this indicator is a powerful tool for monitoring the effectiveness of the existing sales funnel.
Improving conversions also helps you better understand your ideal buyer persona and the best offer for them.
Sales structure
The best metrics for sales analysis include closed deal data. They can help you identify the most effective channels for successfully closing deals. For example, you can determine which types of interactions most often lead to sales: cold calls, emails, or personal contacts.
It is important to know which communication method is most effective. First impressions play a key role in the decision-making process, as there may not be a second chance to impress. An email that is poorly designed and written can permanently ruin the perception of your company.
When sales staff receive data on the types of contact options with the target audience that lead to successful deals, they can be directed down the right path early in the process.
Case: VT-metall
Find out how we reduced the cost of attracting an application by 13 times for a metalworking company in Moscow