In the world of inside sales, tracking the right KPIs is crucial for optimising sales processes and achieving success. In this article, we highlight the five essential KPIs that every inside sales manager should track. From the number of calls made and CRM updates to quality conversations, appointments booked, and appointment conversion ratio, these metrics provide valuable insights for coaching, motivation, and process improvement.
5 Essential inside sales KPIs every manager should track for optimal results
In the world of inside sales, success goes beyond the number of phone calls made. While activity metrics are crucial for accountability and improvement, it's important to focus on the right key performance indicators (KPIs). By tracking the right metrics, inside sales managers can optimise their sales processes and prioritise activities that lead to success. In this article, we will highlight the five essential KPIs that every inside sales manager should track.
1. Number of calls made
To maximise success, SDRs should aim to make at least 100 calls per day. Increasing the number of calls leads to more conversations and, ultimately, more appointments booked. For deeper insights, managers can track the number of calls made at each stage of the sales funnel to understand the balance between cold and warm prospecting efforts.
2. Number of CRM updates
Regularly updating the CRM is crucial for maintaining accurate and relevant data. Inside sales reps should aim to add five to ten new contacts per day, including basic information such as name, company, and position. Additionally, reps should strive to gather nuanced purchase intent data during their interactions. This information helps in assessing a prospect's purchasing authority, identifying budget availability, and pinpointing other decision-makers within the organisation.
3. Number of quality conversations
Measuring the number of quality conversations is essential to ensure that reps are having meaningful interactions with qualified prospects. Instead of solely focusing on the quantity of calls, tracking the number of conversations that last longer than a minute provides valuable insights. Lengthy conversations may not always lead to appointments, but they indicate genuine interest and engagement from prospects. Wendy Weiss, president of ColdCallingResults.com, emphasises the importance of tracking this often-overlooked metric.
4. Number of appointments booked
Booking appointments is the ultimate goal of inside sales reps. Tracking the number of appointments booked over a period of 30 days or more provides an accurate reflection of an SDR's performance. It's crucial to focus on the overall number of appointments rather than getting caught up in the specific channels or methods used to book them. The emphasis should be on scheduling meetings with qualified prospects interested in your company's solution.
5. Appointment conversion ratio
While SDRs are not responsible for closing deals, their actions can influence the sales pipeline. Tracking metrics like the appointment conversion ratio and the value of the generated pipeline provides insights into the efficiency and effectiveness of the SDRs' efforts. It's also important to track the number of attended appointments to ensure that reps are booking meetings with genuine prospects.
By focusing on these five essential inside sales KPIs, managers can effectively monitor and optimise their team's performance. Tracking the number of calls made, CRM updates, quality conversations, appointments booked, and appointment conversion ratio provides valuable insights for coaching, motivation, and process improvement. Using these metrics as a foundation, inside sales managers can drive success and achieve optimal results.