Key Performance Indicators (KPI's) are performance metrics that drive important management decisions. This strategic Webinar educates attendees on why to utilize KPI’s, teaches the difference between Measures, Metrics, and KPI’s, reveals the top KPI’s for sales force effectiveness, and shares tips on communicating KPI’s to the sales force.
While every organization is different, the course highlights four strategic reasons for using Key Perfomance Indicators. A clear, every day example using a car dashboard is shared to help attendees understand the difference between a Measure, Metric, and KPI. The speakers also present Gartner’s recommendations for groups of sales KPI’s. The course reviews the five elements required to have a good KPI and shares challenges that are faced when developing effective KPI’s.
There are many commonly used sales performance metrics, including total sales revenues, number of products sold, average order value, and year-to-date sales. Individually, these metrics yield significant insight, but management sometimes lacks deeper knowledge into how specific metrics impact overall business performance. However, effective KPI’s will increase efficiency, boost performance, and enhance sales.
Effective KPI’s are essential, but success also depends on a company’s ability to communicate is KPI’s in a meaningful way. The course highlights how technology can be leveraged to keep KPI’s in the forefront of the sales team’s mind, as well as enable sales teams and sales leaders to take proactive steps when KPI’s start to slip.
In short, by analyzing trends and relationships between individual KPIs, a more complete picture emerges than informs and enables more effective strategic decision making.