6 Important KPIs Your Sales Campaign Should Be Tracking
Do you know how much engagement you are getting from your sales campaigns? With sales campaigns, it’s easy to lean into email metrics and focus on tracking open rates or reply rates. As you scale your sales campaigns do you and your Partner-Vendor teams agree on what KPIs to track? How about the goals for each? Without these targets in place, you may be running sales campaigns without focus.
To help you get on the right track, here are seven key performance indicators (KPIs) that you should be tracking in your sales campaigns.
1. Sales rep participation
Are your reps engaged in the communication you are sending them, are they showing up to scheduled meetings, and are they generating leads? Tracking your engagement rate can help you understand how well your sales campaigns are resonating with your audience. This KPI can include metrics like open rates, click-through rates, and lead generation. By knowing who is and is not engaged, campaign managers are able to tailor their approach to maximize results in real-time.
2. Conversion rate
The conversion rate is a crucial KPI to track in your campaigns, as it tells you how many people are taking the desired action. Some key conversation rates might be list penetration (how many target accounts were actioned/purchased), and rep participation (what percent of reps filled out a lead) Tracking multiple conversion rates can help you identify which parts of your campaign are most effective and adjust your strategy accordingly.
3. Net new logos
Net New Logos is often a key target in the campaigns we run, as they are a priority for both the Channel Partner and Manufacturer. When running a Net New Logo campaign, it is important that there is value for the sellers to partner together. Whitespace lists without clear directions do not get the same tracking. Including customer-facing email templates and documentation is key to give both sales teams a turn-key solution to win a net new customer.
4. Meeting feedback
After organizing Partner Days and setting up meetings between two sales organizations, it is important to get feedback. Was the meeting a valuable use of time? Was the meeting easy to schedule? By tracking these specific metrics, campaign teams can adjust future campaigns, identify both highlights and lowlights between the sales organizations and increase their return.
5. Sales pipeline
Tracking your sales pipeline can help you understand where your prospects are in the sales process, and how likely they are to convert. By tracking this KPI, you can prioritize your leads and focus your efforts on those that are most likely to result in a sale.
It’s also important to understand what moves a prospect from one stage of the pipeline to the next. What moves them further down in the funnel?
6. Revenue generated
At the end of the day, revenue is what drives your business. Tracking revenue generated from specific sales campaigns can give you an ROI, identify areas for improvement, and help you create goals for future campaigns.
Tracking these six key performance indicators can help you optimize your sales campaigns and ensure that you are getting the best possible ROI from your efforts. By analyzing and being thoughtful with how we look at the vast amount of data captured we can provide your teams with an analysis of performance and ROI. This provides key learnings for future campaigns.
By understanding how your campaigns are performing, you can identify areas for improvement and adjust your strategy accordingly. Remember, it's not just about tracking metrics for the sake of it but understanding how each metric contributes to your overall sales goals.
Most importantly, we always see the most successful campaigns have a strong Partner-Vendor team who work closely and establish clear goals and are able to communicate the program to their respective organizations.
HopperBlue can help facilitate the program and ensure you and your Partners are aligned and focused on driving results. Using a consultative approach, we use historic learnings and a data-driven strategy to deliver results and drive revenue for your businesses. By working together and utilizing HopperBlue, you can ensure that everyone is aligned and focused on driving results. With the right KPIs in place, you can build a data-driven sales campaign strategy that delivers results and drives revenue for your business.