5 Key Inside Sales Call Metrics – With Examples & Benchmarks
Inside sales calling: it’s a results-driven game. In order to maximize your chances of generating leads, crafting opportunities, and closing deals through the phone, you’ll need to set your sales team up with achievable key performance indicators (KPIs).
Sales KPIs shouldn’t be based on guesswork. Sure, we all dream of closing 20 record-breaking deals each day – but there’s no use blindly setting KPIs without first understanding what you want to achieve and how you can leverage your inside sales team to really achieve it.
If you want to scale your sales team, hit your revenue targets, and blow the competition out of the water, you need to first set your KPIs based on actionable data insights.
With what seems like an endless amount of inside sales call data types to choose from, it’s hard not to feel the effects of analysis paralysis – and that’s where we step in.
At InsideOut, we know a thing or two about inside sales success, and how you can measure sales rep performance to get the most out of your sales force. Whether you’re a sales manager looking to monitor team productivity or a sales rep aiming to be your team’s highest performer, this blog will enlist five of our key inside sales metrics to help measure your performance.
1. Calls Per Day
The calls per day metric is essentially the brains of productivity monitoring in the inside sales funnel.
As we all understand, the more calls that an inside sales rep makes, the more conversations they can have, and consequently, the more opportunities they can generate. By tracking the number of calls made on a daily basis, sales leaders can outline a generic, achievable benchmark for closing deals, based on rep productivity in relation to key targets and monthly quotas.
This metric isn’t just used to play a ‘big brother’ role over a sales team. Measuring the number of calls per day also goes a long way in helping individual reps to understand their own personal parameters for success – quite literally putting lead generation into numbers.
For example, if a rep recognizes that they generate a new lead for every 15 outbound calls made, they can leverage this data to create an actionable work schedule to meet their monthly quota. This makes workload management far more visualized and controlled, reducing the need for unrefined, ‘hit and hope’, cold calling strategies.
2. Call to Connect Rate
The call-to-connect metric is one of the most useful KPIs to measure the quality of call conversation amongst sales organizations. Your connect rate refers to the number of high-quality conversations and connections a rep has in comparison to the number of calls made in the customer acquisition channel. In simple terms, an increase in the connected rate equals an increase in sales opportunities.
The connect rate centers around the biggest barrier to lead generation: maintaining meaningful, impactful engagement with the intended prospect to successfully build interest and qualify the lead. Whether a rep is communicating with a decision-maker or gatekeeper, a healthy conversation that shows encouraging glimpses of sales potential signifies progress in the sales cycle. Like calls per day, this metric also provides a snapshot into a rep’s productivity – based on skill-set and ability rather than call volume.
Inside sales reps are generally pressed for time, and if a connection rate falls short of the benchmark, it may indicate time being wasted chasing unengaged prospects and leads. In essence, the connect rate helps to build an understanding of the lead generation funnel and effective prospect targeting.
3. Average Call Time
While tracking the number of calls per day is a valuable metric on its own, inside sales reps shouldn’t focus on blindly hitting a number; outreach needs to be targeted, meaningful, and genuine to generate sales. Merely hitting the calls-made benchmark doesn’t offer a full picture of sales productivity. Any half-decent inside sales rep can make 100 phone calls a day, but those who spark high-quality, engaged conversation from the get-go will stand out above the noise.
Reps should be encouraged to strike a balance between quantity and quality. Making one hundred 15 second calls isn’t nearly as promising as having ten meaningful, five-minute conversations – which is why it’s important to track the average time spent on the phone with a prospective buyer. If prospects don’t hang up within the first 30 seconds, there’s a better chance that they’re interested in the product or service. By leveraging this data, we attain valuable insight into the effectiveness of the conversation-flow and outreach approach used by the salesperson.
Through monitoring average call time, you’ll also better gauge the interest of the buyer, creating actionable insights for following up, closing deals, and repeat selling opportunities.
Overall, monitoring conversation time helps teams to identify shortcomings in their sales messaging and conversational strategy, making it easier to pinpoint pain points and take remedial action.
4. Call to Lead Conversion Rate
The call to lead conversion rate is the number of genuine leads identified, in relation to the number of connections or outreaches made.
While an inside sales rep will be expected to make 80+ calls a day, it’s essential that a healthy percentage of these calls convert into an authentic sales opportunity, generating a qualified lead. Ultimately, the goal of the outbound phone salesperson is to get through to a decision-maker and hold an engaging, meaningful conversation – sparking interest in the product/service and building up the groundwork for a sale.
At InsideOut, we generally set the benchmark for the call to lead conversion at 10%. If this target isn’t being met, it usually means a change in call tactic is required. This could be anything from adjusting calls to a different time of day to switching the outreach approach entirely to email or social selling to build up to that initial sales call.
Alternatively, if the lead conversion rate is lower than that, it likely means that the rep is reaching out to the wrong audience – and this is where this metric comes in handy. By deep-diving into this data, you’ll be able to determine the relationship between lead identification and qualified opportunity. The results can then be used to customize BuyerDNA and Ideal Customer Profiles to better tailor the lead identification process.
5. Closing Deal Rate
The closing deal rate refers to the number of deals closed across the organization compared to the number of outreach calls made. For example, if 1000 calls were made and 100 deals closed in the sales teams across one day, the closing deal ratio would be 10%.
Taken in isolation, the closing deal ratio offers little insight into an individual rep’s effectiveness in the sales funnel. It’s used more frequently to measure and monitor an organization’s sales strategy on a wide-scale basis.
The metric is useful in that it provides a sophisticated, high-level overview of the sales process across the board. It can essentially be condensed down to a rough summary of overall sales performance, indicating the strength of an outbound sales strategy as a whole.
But remember: it’s totally natural for some sales reps to perform better than others. If there are large discrepancies between the metrics above, it may be an indication that the wider strategy itself needs changing – not the individual.
If the closing deal rate is universally low, it may evidence increased competition, weakened market territory, shifting buyer trends, or other factors that could adversely affect sales.
Falling short of the outlined closing deal rate means a reevaluation of the sales approach is required. Analyze key messaging and identify which selling points are firing and which are falling short. It may be that your target is simply unrealistic, in which case you should leverage the metrics listed above to reengineer this KPI.
Time to Pick Up the Phone!
So there you have it: five key data types to propel your inside call sales success.
It’s important to note that KPIs should be designed to support your team, not alienate them. These metrics should be used to craft a culture of sales performance identity within your team, rooting benchmarking in actionable analytics and tried-and-tested practices.
Remember, you don’t need ALL the data types – just the right ones for your team. What works for you might not necessarily work for those in the office next door. Like everything inside sales, it’s about personalization, patience, and trial and error. While we all strive for rapid revenue growth, there’s no universal formula to sales performance success.
Invest the time to begin collating data and dig deeper into the results to build your understanding from the ground up – you’ll never know what you might find.
Business Intelligence Senior Manager at InsideOut. A specialist in giving decision makers the insights they need to strengthen their teams and tell their story within their data.