5 Must-Track Metrics If You’re Going To Sell Anything
In today’s world of social selling, companies must be remarkable to get their message out or they just won’t succeed in their efforts to sell and keep selling. It’s critical that the sales force step up and take on social as part of their selling efforts.
As you start planning out your 2014, Sales Benchmark Index offers a quick wrap-up of five different metrics, which are leading indicators for success. Here’s what they have to say, with our thoughts below.
- Social reach: It’s critical to figure out how many buyers of your offerings you’ve got. By tagging connections and grouping by target persona, you can send laser-focused messages.
- Social debt: These days more than half of the buying process (57 percent) happens without a salesperson involved. More than half! That means when buyers do seek help online you need to be there. You want them to find you? Share articles through your LinkedIn profile and offer to connect buyers with channel partners.
- Generated referrals: Most (84 percent) B2B decision-makers start their research with a referral. They’ll use LinkedIn to find resources through your network. “You may only be one connection removed from a pipeline of opportunities,” the article states. “If you’ve created social debt with your connections, they are likely to help.”
- Lead to conversion rate: Most people track this metric. But did you know that five times more socially sourced leads actually convert into opportunities versus marketing-sourced leads? It makes sense to track social debt and referrals through the pipeline to the lead.
- Production of content: In the next year, it will be commonplace for sales reps to generate their own content. Be sure you’re tracking and sharing these articles, blogs and videos.
The Tellwise Nutshell (TTN): Don’t get us wrong; at the end of the day, a sale is a sale, but these indicators help in frontline pipeline generation and take advantage of new social ways to connect with customers. Don’t get left behind and leave it to marketing to own social! Your role as a seller is equally important, and the five points mentioned are a great way to get started and make it count.
Source: Sales Benchmark Index, October 2013