by Liesha Petrovich
The backbone of business is based on one simple activity – selling. Without sales, we are dead in the water. We know to track how many sales we’ve made, how many we’ve lost, and our ROI.
But what if we’re not measuring the right metrics? What if we’re looking in the wrong place?
According to infographic, by Sales Outsourcing Pros, when you direct growth from the bottom up, you’ll see results at all levels. Rather than simply applying a quota and demanding that sales meet the quota, measure the activities instead needed to achieve greater results regardless of the quota.
In other words, getting quotas met without ciphering the real data of how salespeople achieve the quota, you’ll be in the dark when they don’t.
Today, the entire sales process can cover a wide area, including emails, face-to-face meetings, phone calls, social media, and traditional ads. It’s time to take a second look at what we measure to make sure we focus on what’s important for our unique business.
We all know that smartphones are an essential part of daily life. Mobiles are used for communication, gaming, organization, social interactions and even tracking health and fitness levels. But mobile is also responsible for 29% of eCommerce transactions in the United States and 34% globally.
This means it’s essential to understand the effectiveness of your mobile sales process. Look at your current marketing efforts and see what mobile stats you can uncover. For example, you can partner with a Mobile Measuring Partner if you use Facebook ads for your business.
Abandoned Checkout Stats
It’s estimated that 70% of online consumers abandon filled shopping carts. While we can’t uncover the motivation why shoppers do this, we can analyze our entire sales process and plug any holes.
It’s not surprising the Google offers an easy way to check out this data. Using Google Analytics, you can see where in your process you’re losing customers. Not all eCommerce platforms are the same. Perhaps your checkout process is several pages long, and your customers are used to the one-click option offered by companies like Amazon. The point is you won’t know where the problem is unless you start measuring what’s going on.
Most businesses have at least a Facebook and Twitter page. But 41% of companies say they have no clue if their social media strategy works! And another 56% say they can’t link their social media efforts to actual business outcomes!
So why do we pour so much effort into something when we don’t know if it’s working?
But small businesses can actually track some aspects of social media easily. Along with email sign ups, direct contact messages, and downloads, you can also measure actual purchases. Again, Google Analytics has a Social Analytics option that you can set up to track your social media campaigns.
Learn to Leverage Data
Times have changed and the sales stats you measure should change as well. It’s one easy way to understand where you are failing, where you find the most success, and what you need to tweak.
Take a look at your unique business and analyze what’s the most important metrics to start measuring this year. Measure the right metrics and create a sales strategy based on your specific data, and you’ll see your sales grow.
Liesha Petrovich is the creator of Microbusiness Essentials, a blog dedicated to helping the smallest businesses succeed. In her free time, she’s working on a Doctorate in Entrepreneurship. Grab a free copy of her new book Killing Rapunzel: Learning how to save yourself through determination, grit, and self-employment
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3 Replies to “Want Killer Sales? Start Measuring the Right Metrics by @LieshaPetrovich”
Thank you for this! I am trying to gather stats and have my team do the same so that we understand what is happening. We use the Insights in Facebook, Twitter analysis, Google Analysis, AWeber reporting and my blog ranking in the e-learning world.
While this takes time the info is so powerful and telling as I hate wasting time and resources but want to be informed what is working and what is not.
I recently purchased Infusionsoft to connect to my soon-to-be-launched store (of e-course building tools and tutorials). I had to hire an expert to set up the tagging but wow! The info I will get, like cart abandonment is going to be very interesting to track.
I didn’t know about Social Analytics in Google – will have to check out.
Thanks for sharing,
You’re very welcome Kelly! I’m huge on data, and very results oriented. So having the right info is crucial. Good luck!
You hit the nail on the head! Selling is the backbone of business. Thanks for sharing!!! Enjoyed!