The average CRM sales process has about five open stages.
From our experience, 30% to 50% of lost deals fall out from one particular stage – often one of the final two open stages.
Spot a Pattern
A great way to improve your business is through marginal gains. Spot a pattern, such as 35% of your lost deals fall out at the “Quote Sent to Client” stage, and target that as a KPI for a few months.
The new target would be to get this down to 28%.
Once a week, get all your sales reps to target the opportunities in these stages: extra phone calls, emails, offering that extra bit of assistance to the client to get them over the line.
If you’re using Kluster, simply head over to our library of pre-built reports to spot immediate trends or you can get deeper insights with our custom-built sales reports.
Consistent selling is not just about hitting target each month.
It is about deciding on a goal, building a strategy to hit your goal, and reverse-engineering KPI targets to ensure you stay on track. The confidence boost from targeting an actionable KPI such as this, and succeeding, makes a massive impact.
If you’re a Kluster user and you want to get granular, you can drill down into individual insights to see exactly how each of your salespeople are performing and who’s hitting their KPIs.
Repeat this process with a new pattern or KPI every month or two, and watch as your reps become more focused, and bottom line improves.