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<\/a><\/p>\nTable of Contents<\/strong><\/p>\n <\/a> <\/p>\n Data is an indispensable component of successful sales teams. Sales data can help representatives avoid pursuing bad-fit customers<\/a>, and it can inform new opportunities that sales teams wouldn\u2019t detect otherwise.<\/p>\n However, data on its own can be intimidating, especially for teams that are getting used to such an analytical culture. I\u2019ve also seen sales teams that avoid their own data like the plague, afraid that if they look too closely, they might not like what they find.<\/p>\n That being said, sales teams don\u2019t need to make use of every single metric. Some data just exists without providing insights, and that\u2019s fine. Before I dive into the types of sales data your team should track, let\u2019s start with how to approach sales data so it benefits your team and company goals.<\/p>\n When I\u2019m working with a sales and marketing team on performance tracking, I always start with business objective(s). This step isn\u2019t about what data can do for you; it\u2019s about the goals within your business. So, I recommend focusing on what you want for your<\/em> sales team.<\/p>\n Example<\/strong>: We want to shorten our sales cycle in Q2.<\/em><\/p>\n Next, I make a note of what questions arise from the objective.<\/p>\n Example<\/strong>: How long is our current sales cycle? What\u2019s causing it to be at this length? How long would we like it to be? How much money would this save us? What do we need to shorten the current sales cycle?<\/em><\/p>\n Finally, I identify which sales metrics are needed to answer these questions. (I\u2019ll cover the types of sales data below.)<\/p>\n Now, the sales team should know which specific sales metrics to leverage as we work to meet the objective. Over time, as the objectives change, I may need to add or remove various data points based on need.<\/p>\n The following section will cover the types of data your team should know.<\/p>\n <\/a> <\/p>\n In this section, I cover the most common sales key performance indicators<\/a> (KPIs). These are important for covering company-wide performance as well as tracking how your sales team is impacting your broader company goals. Let\u2019s look at them in more detail in the following chart. I\u2019ll talk about how to actually collect this data later.<\/p>\n For a list of over 50 sales metrics, as well as a breakdown of sales KPIs per team type, check out our Ultimate Guide to Sales Metrics<\/a>.<\/p>\n\n
Sales Data<\/strong><\/h2>\n
How to Approach Sales Data<\/strong><\/h3>\n
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