5 Metrics for Measuring Lead, Pipeline and Sales Talent
How can you quantify a rep’s product knowledge or engagement ability?
All leads are not created equal. By evaluating them by industry, location and determining the conversions, you can identify leads that will most likely not close and stop wasting your time on them.
We all know that prospecting is a lot of “no’s” and no responses. But Rob says, “the only thing that really matters is engagement.”
Some sales representatives do this by making a lot of calls and sending a lot of emails. Others personalize their messages and use strategy to boost their engagement numbers.
Despite what approach you use, make notes of whenever an activity results in something and you will begin to see patterns that you can then act upon.
How do you know when a pipeline is, at least, somewhat accurate? Rob points to three factors to consider in order to understand how your deals are progressing.
- Is this a big deal compared to other deals? Is it a deal that matters?
- Is it a deal that is unlikely to close?
- Has something happened that would make you think the deal is less likely to close?
“Many sales managers underestimate the importance of product knowledge in a rep’s performance,” he explains. “But either way, when a rep starts out at a business, they won’t have as much product knowledge as someone working there for 3 or 4 years.”
The easiest way to measure your rep’s product knowledge is just to ask them, but it doesn’t always mean that your best product knowledge is your best performer.
It’s not that you need to know every single factor of the product or the industry. You just need to know enough to be credible.
If you are able to generate a lot of engagement, you’re probably a good communicator.
Rob’s advice is to tell the prospect something they’re actually interested in, rather than using stock phrases and email templates that make them think, “this is just another sales email.”
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