The Most Important Sales Funnel KPIs That You Need to Track

The sales funnel is a series of steps that a salesperson takes when converting a lead into a customer. The sales funnel starts with acquiring new leads and ends with making a sale.

The sales funnel is an essential tool to help you find out how your sales process is working. Once you know what’s happening in your sales funnel, you’ll be able to make data-driven decisions about the direction of your business.

The best way to start this process? Tracking KPIs related to the sales funnel.

Here are the most critical sales funnel KPIs that you need to track.

Number of Sales Qualified Leads

The number of sales-qualified leads you have is a crucial output from your sales team. Do they turn these sales-qualified opportunities into deals?

Tracking this metric will help you know how effectively your salespeople can find and convert new prospects to paying customers. It’s also an indicator that shows if marketing activities, such as lead generation campaigns, are working or not.

Leads Lost Via Inactivity

How many sales-qualified leads did you lose because they didn’t engage with your salespeople? If a lead doesn’t follow up after being contacted by sales, it’s critical to track this.

Leads lost via inactivity are an essential metric that helps marketers understand where the sales process is falling short and implement changes for improvement. The data can also be used when creating new marketing campaigns so you’ll have more success converting prospects into customers next time around.

Sales Cycle Length

This KPI measures how long it takes from the point when a lead is first contacted until they become a customer. Knowing this information can help you determine if there are bottlenecks in your sales process causing delays and preventing deals from being closed.

If you see that the average sales cycle length is getting longer, it’s time to investigate what might be slowing down the process.

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Sales Productivity

Do you know how many leads your sales team needs to contact to make one sale? This is what’s called the “sales productivity” metric. It measures how efficient your salespeople are at converting leads into paying customers.

This KPI is essential for understanding if you have enough leads coming in to keep your sales team busy or not. You might also need to adjust your lead generation activities based on this information.

Sales Revenue

This is the total amount of income that’s generated by deals closed. It includes all revenue, including up-sells and down-sells to customers after they’ve purchased a product or service.

Tracking this metric will help you know if your salespeople are making effective deals with customers.

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Best Sales Funnel KPIs You Need To Know

When it comes to the sales funnel, tracking KPIs is key to making data-driven decisions about the health of your business.

By monitoring these four sales funnel KPIs, you’ll be able to see where things are going well and where they could use some improvement. Please make sure you track them consistently to make necessary changes and see an increase in sales.

For more information about innovative marketing and the marketing industry in general, check out the other posts on our blog.