What KPIs should be measured in the B2B sales funnel?
Ximena Hernández Buffa
“What is not defined cannot be measured. What is not measured cannot be improved. What is not improved will always degrade”, said physicist and mathematician William Thomson Kelvin.
This way of thinking should be applied to all the company’s activities.
To achieve continuous improvement of the sales process, it is key to consider qualitative and quantitative metrics as a whole. It must be considered that the B2B sales process is very different and different variables are considered compared to B2C.
Below we propose a measurement for the B2B sales process with KPIs (key performance indicators or performance or quality indicators).
Marketing Measurements
Marketing metrics can be divided into quantitative and qualitative. Quantitative metrics include:
Hint metrics
They should be noticed immediately, within the first 2 months of carrying out a new activity.
Hint metrics are as follows: Quality contacts, Views, Followers/Interactions on networks, Services stakeholders.
Maturity Metrics
They are perceived later, which means that we are having positive reception of our target audience. Some examples include:
Meetings, leads or proposals and inbound marketing.
Closing Metrics
These metrics are often best known for measuring the sales process:
Forecast and sale, buyback, upselling and cross selling, profits.
Other (qualitative and quantitative) sales metrics
- Customer comments/complaints: It is good for customers to give feedback, as it means they feel comfortable with your company and want to continue the relationship with you.
- New services sold
- Customer lifetime
- Sale time
- Average sale ticket
- Closing rate: It measures closed sales against the opportunities generated. If I generated 100 opportunities and sold 15, my closing rate is 15% (this percentage is a common standard in the technology industry).
- Conversion rates among other quantitative indicators.
- The 7-3-W model: qualitative metrics to measure the quality of leads and their progress in the funnel.
The value of KPIs
The measurement criteria are specific rules that allow for measuring the quality of work and the performance achieved and planning for the next year. You can perform business intelligence (BI): evaluate the activities that work the most, take data-driven actions and invest.
It is critical that business and marketing leaders measure KPIs. It is essential to provide platforms to record these KPIs (CRM, Marketing automation or similar). This way you can manage the measurement, have greater control of your sales process and perform BI.
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