Fatal Mistake 6: Sloppy Tracking And Measurement You can’t have predictability without having repeatable processes. You can’t make what counts repeatable if you’re not regularly measuring what matters (and that doesn’t include the number of dials per day your salespeople make). How effectively are you measuring your sales and marketing activities and results? If you aren’t… why do you keep putting it off? “We’ll do that next week, quarter, year…” Unless you understand what works and doesn’t work, you are only guessing at how to improve. If You Only Track Five Metrics… Track as many of these as you can in your sales force automation system’s dashboards: 1. New leads created per month (also, from what source). 2. Conversion rate of leads to opportunities. 3. Number of, and pipeline dollar value of, qualified opportunities created per month. This is the most important leading indicator of revenue! 4. Conversion rates of opportunities to closed deals. 5. Booked revenues in three categories: New Business, Add-On Business, Renewal Business. Solution: Start tracking 3-5 key activities or results now. Keep experimenting with new metrics, old ones, and how you can use them to improve your business. Review them weekly with a core team.
Predictable Revenue Page 164 Page 166