Success is sustained growth. But how can you tell whether you’re growing, or not? While revenue tells part of the story, KPIs tell the rest. Key Performance Indicators tell you where you are and help set a map for where you need to go. But to increase KPIs, you need to know what yours are and which ones need help.
To get your organization on the road to sustained growth, follow these four steps:
1. Identify KPIs
Which KPIs matter differs from industry to industry and from business to business. Do a quick Google search, and you’ll find some of the most common KPIs. But that doesn’t mean each is right for you. Take a look at the list and determine which are actionable, measurable, and critical factors to success for your particular organization. Each should also connect to an overall goal, i.e., bring in more business, expand reach in X market, etc.
Now that you know what data matters, you need a way to track it. CRMs are the best tool for tracking KPIs. With a CRM, you can determine your baseline and set up automation to track KPI-relevant data. Here’s where customization is important: you need the right fields and reports to track the data you want.
Though CRM automation can aid in KPI-data tracking, you must also establish systems among your team to track KPIs. Decide who will record data, how often, and in what format. Craft dashboards for leadership so they can easily access and assess performance, enabling them to respond quickly if processes break down or need adjustment.
3. Segment KPI Data
While tracking overall KPIs is important, you need to dig deeper with segmentation. Divide your KPIs by specific go-to-market campaigns, buyer personas, industry, and even sales rep. By segmenting your data, you get a clearer picture of how you’re performing in your distinct market segments. This targeted approach allows you to hone in on one area so you can see problem areas easily. Rather than looking at the complex macro level, focusing on segmented data means you’re more likely to identify change that works.
4. Assess KPI Progress
After tracking your KPI-data, it’s time to see what you see. Your CRM is essential again, as is custom reporting and dashboards. The easier it is for managers and other team leaders to see what’s happening, the quicker they can implement change. As you assess progress, be sure to celebrate successes while identifying problem areas. The goal is growth.
5. Do Something About KPI Issues
Celebrating successes is simple (and necessary), but fixing problem areas is more complicated. If you’re struggling to understand your performance issues or grappling with how to enact effective change, the experts at NuGrowth Solutions are here to help.
Our results-driven sales as a service (SaaS) team provides custom solutions to help set and track goals and personalize your CRM system for lasting progress. And, our latest CRM sales tool, NuGrowth Accelerator, is poised to activate your Salesforce system with:
- 14 go-to-market strategies
- Buyer persona profiling
- List progressions
- Built-in call cadence
- Custom dashboards and reporting
Discover more about the NuGrowth SaaS team and our innovative Salesforce® Accelerator pipeline management technology. Sign up for doubling contact and meeting set rates over average percentages: get in touch with us at nugrowth.com/contact or 614.304.3917