It is very important to look after the right KPI’s to track field sales executives. Focusing on wrong ones could lead to a loss in potential sales. Hence align the right KPI’s to unlock sales reps’ maximum productivity. The challenge is to pick KPI’s that are relevant to both – Industry and your Business goals.
Here are 10 KPI’s not only to track field sales executives but also to help them get better at selling on a daily basis.
1. Individual Sales Numbers
How much each member of the field sales team is contributing towards selling is important so that you can compare it with other members. This metric helps to create healthy competition amongst field sales representatives and motivates them to perform better.
2. Increase in New Contacts
This metric calculates how much each sales reps are contributing to your new business in their respective territory. It will let you know the rate at which individuals are meeting their quota. Also, it shows at what percentage of your team is meeting their quota. For example, if the contact rate of most of the members of your team is low, you can find out where the problem lies- is it because of goals, or that they are spending their time on unproductive activities.
Visiting clients alone is not a goal, converting them is the right way to track field sales executives performance. How many reps are successfully turning prospects into new clients is important to generate KPI. If this number is low, it means that he is good at getting near doorstep but could need someone else to close the deal. Looking into these nuances, you will be able to gauge who is failing at conversion for a particular representative and who needs training for the same.
4. Relationship with Clients
It is said customer is the king. Growing them and maintaining relationship with existing clients is an important factor to generate KPI among members within the team. Building trust is not easy. When sales reps are regularly in touch with their clients, it automatically creates a bond and it becomes easy for clients to share their concerns.
How you will track field sales executives is a major concern. What you can do is to ask your sales reps to track the average number of interactions they have in each day with their customers. This might enable us to check their effectiveness by comparing each interaction with the average length of the customer relationship.
5. Sales representative’s Satisfaction
The biggest challenge is to keep sales reps motivated. This can be a problem if they feel disconnected from you or from the team. Have one on one meeting with them on regular intervals; address their concerns with immediate effect. So, the satisfaction level of each sales reps is an important KPI that you need to track to ensure that they perform to the fullest of their capabilities.
6. Goals v/s results
It can be one of the KPI so as to identify how individuals are performing over a period of time. This could give an insight as to how attainable your monthly goals were. You can even use this data as a source of inspiration for other sales reps who need additional training to reach their goals
7. Average Deal Size
Numbers are important when you want to compare the average of deal closed and deals won by each field sales representative. So for this, you should make sure your field sales representatives are skilled in managing their time efficiently and effectively. This could highlight sales executives that are closing deals that aren’t really worth pursuing. You can analyze through this data if some field sales representatives are deliberately going after small accounts because they may find them quick to close instead of pursuing a larger, more complicated opportunity.
8. Successful Event Metric
This metric will show you detailed lists of calls and appointments. You can track field sales executives from this data which events were the most successful ones by field sales representatives and accordingly you can shift your focus based on what is working in your favor from business point of view.
9. Rejection and Churn Codes
This tool helps to track the reasons as to why your field sales representatives’ accounts are walking away. You can keep an eye out for any changes or trends so that you can focus on areas where you can see the same codes popping up on a repeated basis.
10. Follow – Up Rate
Even after the deal is closed, it is important to follow –up with each field sales representative’s respective clients. In order to check whether they have been following up, this metric will dig into how often each representative is contacting their respective clients over time. You will also know how much interactions are made after initial contact.