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The essential metrics you should track in your CRM system

April 19, 2017

Data tracked and stored in Salesforce has a story to tell. Your job is to listen.

Are you utilizing the awesome statistical capabilities that come with your Salesforce solution? If not, you’re missing out on some very important customer insights.

Salesforce statistics can be customized according to your overall strategy. The most easily measured are sales rep or sales team performance metrics. Conversion rate metrics would be of interest if you just launched a new product. And pipeline metrics are essential for growing your business.

All metrics should correspond directly to current strategic goals. Think critically and ask yourself the following:  Why do I need this metric? What time period am I tracking? Who can see these metrics?  What type of metric should I track?


Lead Source Metrics

What lead source generates the most traffic? lead sourceTracking lead sources can show you where the most leads originate. See how many leads are converted into sales and what source of traffic brings you the most Closed Won Opportunities. How many hot Leads convert into Opportunities?

With Lead Pipeline in mind, sales and marketing teams are able to make more weighted and informed decisions.


Opportunity Pipeline

Opportunity Pipeline is the first indicator of how well you’re doing. How many Opportunities do you have in total? Having more Leads than you can convert negatively affects customer service quality and can eventually lead to an Opportunity lost. The key to success is to have a balance and adequately allocate your resources.


Closed Won Opportunities

This metric will tell you how well your sales team is performing. What is the ultimate source that brings the most closed won opportunities? What can you do to bring in even more? This is how you plan for future growth.

Track the conversion rate and find out who on your sales team is your best closer.


Opportunities Conversion Rate

The Opportunity Conversion Rate indicates how well you’re selling across various channels. It gives you insight on what you’re doing right and where you need to focus more effort.

The ultimate goal of lead generation is to convert a Lead into a Closed Won Opportunity. Measuring this can uncover hidden problems such as low quality leads or inappropriate follow-up messaging.


Sandbox Story


Even if you think you have all the necessary metrics, you might still need some deeper analytics. This happened recently to one of our clients.

The client has a paid subscription portal for films, series, documentaries, and other video content. After experiencing four month’s worth of declining sales, the client asked CodeSWAT to develop a solution to pinpoint which videos have the greatest demand.

After further discussion with the client, CodeSWAT successfully implemented Wave Analytics, which delivered the following statistical functionality:

  • How many people watched, length of view, user location with a detailed location map
  • Total number of users from a particular region and Salesforce User profiles, if any
  • Time of viewing, number of rewinds, and number of pauses while watching.

Illustrative reporting indicating a detailed video performance along with interest rates resulted in a 30% increase of product sales.
In summary, having the proper metrics and statistics can help grow your business in the right direction. If you need help deciding what you should be tracking and how to set it up in Salesforce, we’re here to help. Click here to learn what metrics and solutions are essential for your business.

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