Key Metrics

1. Revenue Goal

Our experience shows that setting and tracking goals in CRM increases adoption and interest in the system. When team can see their targets and achievements, using CRM  turns into a game, and with proper incentives you can really boost motivation. Many CRM systems, thought not all of them, allow setting goals. At the same time the interface and process often is not very efficient, and you mind find setting goals in a spreadsheet more preferable. This is especially true for larger teams and organizations. While annual goal tracking is great for a high level overview, it is also crucial to create more granular goals. In fact, you may need to create a whole separate dashboard dedicated only to goals.

We would recommend to consider additional metrics:

  • Monthly and Quarterly Goals

  • Goals by Team Member

  • Goals by Line of Business

2. Goal Achievement Details

Remaining Goal shows us how much we still need to sell (Goal – Revenue), and Go % Attained shows what % of a goal we have achieved already. While these metrics may seem redundant, we could easily deduce these numbers from the first chart, adding them removes the necessity to make any mental calculations and allows users to focus on analysis and decision making. The next two numbers – Pipeline Value and Expected to Close, show total value of all the deals that still can be closed, and expected value of all those deals based on their probability of closing respectively. These last two metrics give you a better sense if you will hit your goal or not. If you can close every deal in the pipeline you could go well above your target, however based on your current probability mapping, you are less likely to hit your goal. Probability mapping is critical for accurate forecasting of your revenue, however it requires a lot of data to establish accurate probabilities, and many companies lack that. This is why we find it helpful to show both expected and total value of the pipeline, so you can better understand the range of possibilities.

Additional Metrics to Consider:

  • Setting more granular goals will require adding these metrics for each goal (by employee, product, month etc.)

  • Lost Revenue, broken out by reasons the deals have been lost.

  • Displaying stage probability mapping can provide better understanding of Pipeline Expected Value (Expected to Close)

3. Sales Pipeline

Sales Pipeline is probably the most famous CRM chart. It shows all your deals broken up by sales stage in a funnel like chart. You can spot issues and find opportunities in a glance, and you can see how much potential revenue is allocated at each stage and gain a better sense of how much you are likely to close and how soon. It is critical to make sure that your sales stages are customized properly and represent your sales cycle accurately, otherwise you will not be able to gain valuable insight from the data. We also recommend to add stage number to it’s name, so that you could sort stages properly based on their order in external tools.

Additional Metrics to Consider:

  • Sales Pipeline by Product and Deal Owner

  • Sales cycle duration, and length at each stage of the pipeline.

  • Won/Lost rate by Product and Deal Owner

4. Revenue Year over Year

While setting and pursuing goals is critical, being able to see your past performance as a point of reference is very important as well. The value of CRM system increases the more data it has, and being able to compare your sales year over year easily is very important. These two charts compare current year sales to previous year annually and monthly. You may choose to add more years, but it makes the chart busy and harder to read.

Additional Metrics to Consider:

  • Sales broken down by lead source

  • Profit Year over Year instead of sales. You may need to connect data from your accounting system to create such a report, unless you keep your margin and profitability data in CRM.

  • Customer satisfaction.

5. Revenue Year over Year as of Today

Comparing your sales to a previous year is great, but it is also very useful to see what were your sales previous year as of today. This gives you a more accurate understanding of where you stand comparing to previous year, especially if your sales have seasonality. We also show sales by team member and by line of business.

Additional Metrics to Consider:

  • Number of Leads Year over Year as of Today

  • Sales Lost Year over Year as of Today

  • Commission/Bonuses Paid Year over Year as of Today by Team Member