Annual contract value (ACV): This is the average sales amount of a customer contract over the course of a year.
Customer lifetime value (CLV): The value of all purchases, including upsells, cross-sells, and renewals, that a customer makes over the course of their relationship with your company.
key performance indicators (KPIs)Opens in a new window for a more in-depth look at what you can (and should) be tracking.
How do you use metrics and data to improve your B2B sales process?
The depth of data available about market trends, customer behavior, and the effectiveness of various sales tactics can be helpful in tweaking your sales process approach. Here’s a look at how you can use data to improve your performance:
Targeting the right prospects. Data about your prospects, especially from your sales tools, can help you target the best leads for the products and services you sell.
Personalizing messages and sales pitches. With more data about america phone number list your target customers, you can better personalize and customize the pitchesOpens in a new window you send. Personalization will help you connect more with your prospects and increase your likelihood of success.
Lead prioritization. With up-to-date sales data, you can create lead-scoring rubrics to identify which leads are most likely to convert. From there, you can prioritize leads and, ideally, increase win rates.
Forecasting sales for company planning. Sales data can help you predict outcomes and make highly accurate forecasts about future sales and revenue. This is key to planning budgets, pay, and targets for the company.
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How do you measure B2B sales performance?
Knowing the right B2B sales metrics to track is all well and good, but how do you track it? Via a comprehensive sales dashboard. A dashboard lets you see all the most relevant information about past, current, and pending sales so that you can make better decisions that drive better win rates. It also aggregates completed sales data so that you can measure sales performance over periods of time, such as year-over-year or over a specific quarter. All of this can be used to inform sales strategiesOpens in a new window, hiring decisions, and tactics.