I know these are challenging times for all of us individually and for our businesses. And now, in particular, is the time to absolutely micro-manage your metrics. You need to be on top of your business metrics like never before.
In fact, many of my clients are tracking their metrics daily and meeting at the end of the day to track all of the activities, sales, profitabilities, and operational metrics. This will enable them to make course corrections on a minute-by-minute basis.
Specifically, for us as salespeople, that means tracking three key metrics daily:
1. Your sales velocity
2. Your gap to goal or your pipeline size
3. The number of calls, connects, and opportunities that are created
If you track those on a daily basis, you’ll spot trends. And the reason why I’m looking at this from a client perspective is that I want to know very quickly if I’m trending up, flat, or down.
If you’re trending up, ask yourself why? Are there certain markets that are being more receptive or more successful, and if so can you tilt your businesses towards those?
If you’re trending flat, ask yourself if that is a good thing or bad thing? Does that mean that your business is holding steady and your clients are engaging with you on a regular basis? Or does it mean that there’s a change coming?
If you’re trending down, evaluate how you can course correct that immediately. Look for trends and assess how you can reorient to a new market, new product, or new message.
Indeed, these metrics are important to track at this time on a daily basis. You have to be a micro-manager. I know some of you think that you don’t need to be a micro-manager during the best of times, but today is the time that you have to get intimate with your numbers.