I would bet there is more universally accepted data on the former NFL linebacker, Willie McGinest, than a typical organization has on its own sales performance. This may seem like a silly comparison, but let me explain. The standardization of NFL defensive statistics and the accuracy of reporting present a nearly unequivocal view of performance over time. In sales, by contrast, the broadness of selling data can leave an organization rudderless when analyzing their own performance. If your Sales VP was asked whether they trusted their own pipeline and historical sales data, over the integrity of ESPN’s third and fourth-down conversion data, what do you think they would say? 

Choosing the appropriate key performance indicators (KPIs) to track can be an arduous endeavour. The increasing flexibility of sales management tools provides users a multitude of options for tracking sales behavior. From regional, product, and individual targets, to forecasting and pipeline accuracy, the trick is to not get bogged down by capturing superfluous data. It can start innocuously—for example, somebody begins by thinking, “Let’s just keep it simple by capturing the estimated close date and amount—but it might also be interesting to get the proposal request date on record...and if we’re already doing that, let’s ask for a summary of the proposal details. Actually, we probably want the contract date, the legal review date, the legal approval date, and, and, and..." Following this train of thought can take you down a rabbit hole of selling metrics. 

There are valid reasons to track this type of information: measuring efficiency, identifying roadblocks, the list goes on. However, the information requirements themselves become the roadblock and eventually slow down the salesperson to the point where almost nothing gets filled out.

One common driver that tends to crash the data vehicle is over-specificity. Trying to measure too many things without a defined objective can lead to data overload. Screens filled with hundreds of fields and validations are stable contributors to the modern salesperson’s frustration: all he or she really wants to do is spend time with customers and sell.  

It’s all about gathering the right analytics so that you can plan better. Mapping your sales data can sometimes seem more like an art than a science, so when deciding which key metrics to measure, consider these 5 tips: 

1. Track only data that is measurable and actionable
   You can’t change what you can’t measure. If the data you are measuring does not influence important decisions for your sales stakeholders (sales support, reps, managers, executives), it might not be worth capturing.
2. Start as broad as possible
   If you need to be more specific, then get more granular, but do it carefully, collaboratively, and, most importantly, make sure you continue to question whether the person filling it out is getting anything out of it.
3. Design for current behavior, not against it
   Current behavior changes at the mandate of a trusted leader for the sake of its people, and not of the CRM dashboard.
4. Break down processes into smaller steps and analyze things one at a time
   This helps you understand what is important within each stage of a business process, helping eliminate unnecessary data capture.
5. Invest in change management
   Getting accurate data requires the full adoption of a new technology or process. Consider a 2:1 investment ratio of people vs. technology—for every dollar you spend purchasing a new technology, spend two on the people who’ll use it.

Today’s environment requires nimble and decisive leadership. Sales leaders must be armed with clear insights to ensure consistent, real-time, and actionable visibility into your vital business activities. Learn how Bluewolf helps leaders enhance decision-making capabilities needed to drive transformation and growth.