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How can you measure the success of your Technical Sales efforts when selling CRM software?

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Technical sales is a challenging and rewarding field that requires a combination of technical expertise, communication skills, and business acumen. If you are a technical sales professional who sells customer relationship management (CRM) software, you know how important it is to demonstrate the value and benefits of your solution to potential and existing customers. But how can you measure the success of your technical sales efforts and optimize your performance? In this article, we will explore some key metrics and methods that can help you evaluate and improve your technical sales results when selling CRM software.

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Chris Brown

SVP of Sales @ Fathom | GTM & Sales Leadership Lifetime Learner | Engineering and Supply Chain Nerd | Ask Me…
Jeffrey Khater

I help Software Companies Build and Sell amazing Products. Ex-Unicorn | Consultant | Coach | Public Speaker | Women's…
Yusak Siswanto

Sales Professional | Full-Cycle & Strategic Sales | Tech-Savvy with a Passion for Emerging Technologies

1 Revenue and profitability

The most obvious and essential metric to measure your technical sales success is the revenue and profitability that you generate from your CRM software sales. Revenue is the amount of money that you earn from selling your solution, while profitability is the difference between your revenue and your costs. You can track your revenue and profitability by using various indicators, such as the number and size of deals, the average selling price, the gross margin, the customer lifetime value, and the return on investment. These indicators can help you assess how well you are meeting your sales targets, how competitive your pricing is, and how loyal and satisfied your customers are.

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Chris Brown

SVP of Sales @ Fathom | GTM & Sales Leadership Lifetime Learner | Engineering and Supply Chain Nerd | Ask Me About My Farm
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When using TS as an overlay to AEs, determining ROI becomes more challenging. Instead use a ROMI model where by which you increase the revenue associated to the TS based on interactions captured in your CRM by your TS. Based on time and other customer actions across the org you can modify the associable revenue up and down or apply minimum and maximum percentages. You can then divide that revenue in a year by their cost to the org to finish the equation. I’ve only conceptualized this with my peers in SalesOps. If you’ve put this into practice, I’d like to hear from you.

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Yusak Siswanto

Sales Professional | Full-Cycle & Strategic Sales | Tech-Savvy with a Passion for Emerging Technologies
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Revenue is one indicator of sales performance, alongside metrics such as sales growth, conversion rate, sales pipeline metrics, and customer acquisition cost. These are common measurements used to assess sales performance. Unlike leading indicators, which are based on the number of activities and quantitative data, sales performance is based on both qualitative and quantitative data. Effective sales leadership requires a balanced approach that incorporates ongoing communication and collaboration with sales teams to gather qualitative insights. This means sales leaders need to spend time talking with their sales team to measure their performance and assess the success rate of sales efforts.

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2 Sales cycle and conversion rate

Another important metric to measure your technical sales success is the sales cycle and conversion rate. The sales cycle is the time it takes from the first contact with a prospect to the final purchase of your CRM software. The conversion rate is the percentage of prospects who become customers. You can measure your sales cycle and conversion rate by using tools such as a CRM system, a sales funnel, and a sales pipeline. These tools can help you monitor how efficiently and effectively you are moving your prospects through the different stages of the sales process, such as awareness, interest, evaluation, decision, and action. You can also identify and address any bottlenecks or challenges that may slow down or hinder your sales cycle and conversion rate.

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Yusak Siswanto

Sales Professional | Full-Cycle & Strategic Sales | Tech-Savvy with a Passion for Emerging Technologies
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To minimize obstacles in the sales cycle and sales conversion , sales teams and sales leaders need to understand the sales pipeline and sales funnel. Understanding these concepts enables sales teams to identify and address bottlenecks or challenges that may slow down the sales cycle. By qualifying leads and prioritizing those most likely to convert, teams can reduce time spent on less promising prospects. Providing the right information and support can help move leads through the funnel more quickly. Additionally, analyzing the sales pipeline allows teams to optimize or automate the sales process by streamlining communication, implementing sales tools, or removing unnecessary steps.

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3 Customer satisfaction and retention

A third key metric to measure your technical sales success is customer satisfaction and retention. Customer satisfaction is the degree to which your customers are happy and satisfied with your CRM software and your service. Customer retention is the percentage of customers who continue to use your solution and renew their contracts. You can measure your customer satisfaction and retention by using methods such as surveys, feedback forms, reviews, testimonials, referrals, and loyalty programs. These methods can help you understand how well you are meeting your customers' needs and expectations, how loyal and engaged your customers are, and how likely they are to recommend your solution to others.

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4 Technical skills and knowledge

A fourth crucial metric to measure your technical sales success is your technical skills and knowledge. Technical skills and knowledge are the abilities and expertise that you have in relation to your CRM software and the industry that you serve. You can measure your technical skills and knowledge by using sources such as certifications, training courses, exams, quizzes, webinars, podcasts, blogs, and books. These sources can help you update and enhance your technical skills and knowledge, as well as demonstrate your credibility and authority to your customers and prospects.

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Jeffrey Khater

I help Software Companies Build and Sell amazing Products. Ex-Unicorn | Consultant | Coach | Public Speaker | Women's Empowerment
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I've sold Enterprise CRM software for 10 years straight, and the summary of it is Socrates' quote: "All that I know is that I know nothing". CRM is an all encompassing term, which includes core modules such as Sales, Marketing and Customer Service, which in turn have many features, functionalities, add-in, and many others, which makes things very difficult to track. To try to simplify the approach for technical investments in the Sales cycle, keep an eye on these points: 1. Demos, their timing and their impact. 2. POCs, their overall cost and the subsequent closure rate. 3. Number of ready technical documentations including proposal template and FAQs. 4. Training of Salespersons vs reliance on Presales teams. 5. Trainings and exams grades.

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5 Communication and relationship skills

A fifth vital metric to measure your technical sales success is your communication and relationship skills. Communication and relationship skills are the abilities and techniques that you use to communicate and interact with your customers and prospects, as well as your colleagues and managers. You can measure your communication and relationship skills by using indicators such as the quality and frequency of your communication, the rapport and trust that you build, the feedback and recognition that you receive, and the referrals and repeat business that you generate. These indicators can help you evaluate and improve your communication and relationship skills, as well as your personal and professional reputation.

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6 Innovation and creativity

A sixth important metric to measure your technical sales success is your innovation and creativity. Innovation and creativity are the abilities and approaches that you use to create and deliver unique and valuable solutions to your customers and prospects. You can measure your innovation and creativity by using criteria such as the novelty and relevance of your ideas, the feasibility and scalability of your solutions, the impact and results of your implementations, and the differentiation and competitive advantage of your offerings. These criteria can help you assess and enhance your innovation and creativity, as well as your value proposition and market position.

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7 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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Román Ezequiel Weiss

Técnico superior en Venta Directa / Marketing Digital & Coaching Ontológico
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Hay varías metodologías de ventas consultivas, particularmente me gusta Sandler. En la mísma se habla sobre el triangulo de éxito (Actitud, Técnica y Comportamiento). Una buena forma de medir los esfuerzos es conocer estos 3 factores en el vendedor: Actitud : quiere hacerlo ? Técnica : sabe como hacerlo ? Comportamiento : esta comprometido a cumplir con acciones especificas y conoce las métricas que debe cumplir para alcanzar sus objetivos ?

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How can you measure the success of your Technical Sales efforts when selling CRM software?

1

2

3

4

5

6

7

1 Revenue and profitability

2 Sales cycle and conversion rate

3 Customer satisfaction and retention

4 Technical skills and knowledge

5 Communication and relationship skills

6 Innovation and creativity

7 Here’s what else to consider

Technical Sales

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How can you measure the success of your Technical Sales efforts when selling CRM software?

1

2

3

4

5

6

7

1 Revenue and profitability

2 Sales cycle and conversion rate

3 Customer satisfaction and retention

4 Technical skills and knowledge

5 Communication and relationship skills

6 Innovation and creativity

7 Here’s what else to consider

Technical Sales

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