Revenue teams are always looking for ways to measure and improve their success. In the world of SaaS Sales, there are a few key performance indicators (KPIs) that you should be keeping an eye on. In this blog post, we will discuss the 5 top Sales KPIs for SaaS Sales and how to measure and improve your sales success!
Sales productivity is a measure of how efficient your sales team is in generating revenue. You can calculate sales productivity by dividing the total number of sales by the number of working days in the period. This will give you a metric that tells you how many deals your team needs to close each day to meet their targets.
Sales productivity is a great Sales KPI because it helps you determine whether or not your sales team has enough time to focus their efforts on generating revenue and if they need more resources.
Average Deal Size
The average deal size is another Sales KPI that can help you track the success of your Sales Team. You will want to calculate this metric by dividing the total revenue by the number of deals. This will give you a measure of how much each deal is worth on average.
If your average deal size is decreasing, it could mean that your Sales Team is having trouble closing larger deals or that they are targeting the wrong customers. Alternatively, if your average deal size is increasing, it could mean that your Sales Team is closing more high-value deals or that they are targeting the right customers.
Sales Cycle Length
The sales cycle length is the time it takes for a deal to go from initial contact to closed won. This Sales KPI can be helpful in determining how efficient your Sales Team is and whether or not they are taking too long to close deals.
You can calculate the sales cycle length by dividing the total number of days it took to close a deal by the number of days in the period. This will give you a metric that tells you how many days it takes, on average, for your Sales Team to close a deal. If you are looking for an easy way to help shorten your sales cycle, check out our latest blog on it.
The Sales Win Rate is one of the most important Sales KPIs for SaaS Sales. You will want to calculate this metric by dividing the number of deals that were closed won by the total number of deals in a given period (including those that did not close). This will give you an idea as to how effective your Sales Team is at closing deals.
If your Sales Win Rate is low, it could mean that your sales team needs more training or that they are focusing on the wrong customers. Alternatively, if your sales Win Rate is high, this indicates success but also means you might be missing out on opportunities for new business by not targeting other customer segments with different needs. A quick way to increase win rate, is to start giving personalized sales demos. Find out why the product demo is the most important step in your sales funnel here.
The Sales Close Rate is another Sales KPI that can help you track the success of your Sales Team. You will want to calculate this metric by dividing the number of deals that were closed won by all potential leads in a given period (including those who did not close). This will give you an idea as to how effective your Sales Team is at converting leads into customers.
If your Sales Close Rate is low, it could mean that you need to improve your lead generation efforts or that you are targeting the wrong leads. Alternatively, if your Sales Close Rate is high, this indicates success but also means that you might be losing potential business by not following up on all leads.
Sales KPIs are important metrics that you can use to measure and improve the success of your Sales Team. By tracking these five top Sales KPIs for SaaS Sales, you will be able to determine where your team is having the most success and where they need improvement. Implementing these Sales KPIs into your business process will help you to increase Sales productivity and close more deals. If you are looking to increase your win rates, and shorten your sales cycle with personalized demos, schedule a demo with our team today!