Sales metrics for every stage of the sales cycle

As a consultant or coach, you need to know how your sales process will grow your business by selling more products and services, which can be done in an array of ways. The first step is understanding where you are in the sales cycle and what metrics to track at different stages to be successful. 

For example, when you are first getting started, it is often best to focus on lead conversion rates or the total number of leads. But once the sales cycle has matured and prospects have expressed interest in working with your company, then it becomes more important to look at things like close ratios or total revenue generated.

Let's talk about some of the KPIs to track in at different stages of your sales cycle.

- Lead to opportunity conversion rate: How many leads did you get in the past 30 days? What percentage of those leads turned into opportunities?

- Opportunity conversion rate: What percentage of your opportunities converted this month?

You should also measure lead generation success rates. That is, how many leads were you able to generate and what is the expected success rate on those leads.

- Revenue conversion: How many opportunities that converted this month made you revenue? What percentage of your sales qualified as closed deals versus lost deals?

- Lead to opportunity close rate per day: This metric is the most important one, which says how many leads need to be contacted each day for a sale to happen. For example, if the conversion rate is 20% and your team contacts 100 leads per day, you should close about two sales each day.

- Sales cycle length: This metrics looks at how long it takes from lead generation to opportunity close for a sale to measure progress to reduce bottlenecks within this process.

One of the most difficult parts about sales is knowing what to measure and how often. We’ve aggregated some key metrics as outlined above, which can be useful at different stages in your sales cycle. These are important numbers to watch so that you know if you need to increase or decrease marketing efforts around a certain part of your funnel - we hope they help! Which KPIs have been the best source of information for you? Share with us in the comments section below.