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What metrics are key for improving sales processes with institutional clients?

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If you are a sales engineer, you know that selling to institutional clients is not a simple task. You have to deal with complex decision-making processes, long sales cycles, and high expectations. How can you optimize your sales processes and increase your chances of closing deals with these clients? One way is to measure and improve your performance using key metrics. In this article, we will discuss what metrics are essential for sales engineers and how they can help you improve your sales processes with institutional clients.

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Galen Holliday

· Senior Sales Engineer · Automation Specialist · Low Code No Code Platforms
Tiago Sestari

Data Projects at Quality Digital | Solution Architecture, Data Specialist, Integration Architecture, Tech Product…

1 Sales cycle length

The sales cycle length is the average time it takes from the first contact with a prospect to the final contract signing. This metric is important because it reflects how efficient and effective your sales process is, and how well you manage your pipeline. A shorter sales cycle means you can close more deals in less time, reduce the risk of losing opportunities, and increase your revenue. To reduce your sales cycle length, you need to identify and eliminate bottlenecks, qualify your leads better, and align your sales stages with your buyer's journey.

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Galen Holliday

· Senior Sales Engineer · Automation Specialist · Low Code No Code Platforms
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In my experience, most sales are won through good discovery and active listening. The reason is that sales happen if you know their business critical issues and the pains causing those issues. Everything is dependent on understanding the highest priority problem, how it affects the business, what has been tried in order to solve the problem, how it impacts the business and importantly individuals day to day-to-day function, and what solving the problem means. If you do not have alignment on these topics deals typically don't close, they will stall in the pipeline, and account executives lose the one thing they cannot afford to lose which is time. How many deals slip between quarters is key metric.

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Tiago Sestari

Data Projects at Quality Digital | Solution Architecture, Data Specialist, Integration Architecture, Tech Product Manager | Python, Node, GoLang, SQL, NoSQL, Cloud, Docker
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As a Sales Engineer, keep in mind that you are a Sales person more than anything. Focus the technical pitch in helping the client feel reassured that they are buying exactly what they need and in how you have considered risks and premisses so that are no catches. POCs and Demonstrations should be tailored aiming for that goal if you want to accelerate your sales cycle, avoiding wasting time in boilerplate standard presentations.

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2 Win rate

The win rate is the percentage of opportunities that you convert into customers. This metric is important because it shows how competitive and persuasive you are, and how well you match your solution to your buyer's needs. A higher win rate means you can generate more revenue from fewer opportunities, and increase your market share and reputation. To increase your win rate, you need to understand your buyer's pain points, challenges, and goals, and demonstrate how your solution can solve them better than your competitors.

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Tiago Sestari

Data Projects at Quality Digital | Solution Architecture, Data Specialist, Integration Architecture, Tech Product Manager | Python, Node, GoLang, SQL, NoSQL, Cloud, Docker
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Be mindful of your margin. No single metric can measure sales performance alone. Sometimes a low win rate with big margins can be just as healthy. Consider the overall business impact and rely on a good S&OP strategy, specially for demand planning. Knowing what you need avoids just going all in every opportunity to increase win rate.

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3 Customer satisfaction

The customer satisfaction is the degree to which your customers are happy with your solution and your service. This metric is important because it indicates how loyal and engaged your customers are, and how likely they are to renew, refer, or upsell. A higher customer satisfaction means you can retain more customers, reduce churn, and increase your lifetime value. To increase your customer satisfaction, you need to deliver on your promises, provide ongoing support and training, and solicit feedback and reviews.

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4 Revenue per account

The revenue per account is the average amount of revenue that you generate from each customer. This metric is important because it reflects how profitable and scalable your solution is, and how well you leverage your existing customer base. A higher revenue per account means you can maximize your return on investment, lower your customer acquisition cost, and grow your business. To increase your revenue per account, you need to identify and target your ideal customer profile, offer value-added services and features, and create cross-selling and upselling opportunities.

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Tiago Sestari

Data Projects at Quality Digital | Solution Architecture, Data Specialist, Integration Architecture, Tech Product Manager | Python, Node, GoLang, SQL, NoSQL, Cloud, Docker
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Not only revenue, but margin. Big revenues with tiny margins can lead to a break even. If possible, consider the cost of resources invested in closing the deal, those can surprise you in a long sales cycle.

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5 Conversion rate

The conversion rate is the percentage of prospects that move from one stage of your sales process to the next. This metric is important because it reveals how effective your sales activities and tactics are, and how well you nurture and progress your leads. A higher conversion rate means you can move more prospects through your funnel, increase your pipeline quality, and close more deals. To increase your conversion rate, you need to align your sales process with your buyer's journey, use relevant and engaging content and tools, and follow up and follow through.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Tiago Sestari

Data Projects at Quality Digital | Solution Architecture, Data Specialist, Integration Architecture, Tech Product Manager | Python, Node, GoLang, SQL, NoSQL, Cloud, Docker
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As a sale engineer you’ll probably work on many POCs. Those can get costly if not careful and delay the closing date. Do just enough to prove the concept, and make clear you’re aware of risks and premisses.

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What metrics are key for improving sales processes with institutional clients?

1

2

3

4

5

6

1 Sales cycle length

2 Win rate

3 Customer satisfaction

4 Revenue per account

5 Conversion rate

6 Here’s what else to consider

Sales Engineering

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What metrics are key for improving sales processes with institutional clients?

1

2

3

4

5

6

1 Sales cycle length

2 Win rate

3 Customer satisfaction

4 Revenue per account

5 Conversion rate

6 Here’s what else to consider

Sales Engineering

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