Example: This year, SpinzFlip aims to increase customer CLV by 15% year-over-year by extending customer tenure and introducing add-ons and cross-sells.
NPS is an important metric used to gauge customer loyalty. NPS scores are measured with a single question:
“On a scale from 1-10, how likely is it that you would recommend [company, product, service] to a friend or colleague?”
After surveying some customers with that question, an NPS score is calculated from -100 to +100, with the higher number being a better score.
Example: SpinzFlip sells an awesome pair of roller skates. When customers were surveyed about the buying experience, they averaged a score in the high 70s. But when customers were asked about SpinzFlip’s podcast, it scored closer to 40. SpinzFlip clearly needs to set a goal to improve the NPS score for its podcast.
13. Reduce the length of the sales cycle
A sales cycle is the average length of time that it takes for a rep afghanistan phone number list to convert a lead into a closed sale. Shortening the sales cycle can help sales reps close more and grow revenue.
Example: It takes a SpinzFlip rep three months, on average, to go through an entire sales cycle. This includes a discovery call with a prospect, a roller skate demo, proposal drafting, negotiation, and finally closing the deal. This year, SpinzFlip set a goal of shortening its average sales cycle from three months to two. This will give SpinzFlip’s reps an extra month to get more prospects in the pipeline.
14. Reduce the average number of touches
Touches are contacts with prospects — over the phone, online, or face-to-face. In my experience, it takes the average sales rep nine or 10 touches to close a deal. Ideally, you want to reduce this to five, six, or seven touches, and that takes finessing. You get there by doing more research and coming prepared with solutions and value prospects understand.