Metrics are important, but if you do not follow the path through to key performance indicators (KPIs) you will never reach the answer to your ultimate question which is return on investment (ROI).
Define KPIs vs Metrics
Measure Your Performance
Analyze Your Results
Iterate Based on Data
Key Performance Indicators (KPI) help a company define and quantitatively measure the progress toward key business objectives. Whether you have an inside sales team, sdr team, bdr team, or field sales team selecting the right metrics and kpis to track is essential in establishing a predictable revenue streams.
One of the biggest issues that large and small companies both face is eliminating vanity metrics. These are the metrics that seemingly show performance, but by themselves do not track growth.
One example of a vanity metric is Email Open Rate. While the open rate feels like something good, by itself it means very little. Without additional information like responses rates or click rates, the open rate is merely vanity. If you have to ask additional questions about your data then you are not tracking a real KPI. A better example of a KPI would be email positive response rate.
Metrics are important, but if you do not follow the path through to KPIs you will never reach the answer to your ultimate question which is economic impact.
Understanding KPIs vs metrics is essential for business growth. Need help defining your KPIs?
To define your ICP, we recommend starting by asking these questions:
The more you have around this, the closer you can get to define your IPP intent data needs.
"Your training reminded me that everyone in the organization is selling, not just sales."
Ted S.
CFO, GainSight.com
I've used Richard's training at multiple companies to help us shape our lead generation efforts with our SDR teams as well as outside sales executives. He helped us examine our process, tune it up, as well as train the team on the NEAT methodology which had an immediate impact on our selling efforts.
Bryan S.
VP Sales
Sometimes trainers do not acknowledge that specific industries have specific eccentricities to their sales process so it was nice that he did not assume anything and gave us time to share our input on situations too. I have used a lot of what I learned each day and feel more confident in the sales process.
Team Member in Computer Software
Mid-Market
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Donal T.
Small Business Owner
He easily adjusted to our environment and nuances, and his suggestions have proven to bear fruit with getting prospects on the line. I'd definitely work with Richard again.
Freddy D.
Enterprise Account Executive
Richard was adaptable to our needs and our ambitious timeline. He delivered CONCRETE tools that our team was able to apply the DAY AFTER. We credit him with enabling us to create a string of breakthroughs in the days and weeks following our training.
Natalie P.
VP Sales
Richard helped provide insights into how to successfully lead a discovery call. His wisdom and expertise will leave you in a better position to sell more.
Team Member in Information Technology and Services
Small Business
Understanding KPIs vs metrics is essential for business growth.