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 battling to be the top dog, this blog will enlist five of our key inside sales metrics to help measure your performance.
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.
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.
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.