How can we improve sales metrics in CRM?

  • 28 March 2023
  • 3 replies
  • 92 views
Jin Kim
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Userlevel 3
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Greetings community,

We would like your feedback with regards to improving our out of the box offerings for sales metrics?  We want to know how you are using the current sales metrics and if you are building any additional custom dashboards, reports, general inquiries, pivot tables to support your sales business.  What sales KPIs are you interested in seeing in CRM?  (i.e. opportunity conversion rates, time spent in each opportunity stage, etc)

If you are also interested in participating in a 1:1 customer feedback session with us, please specify that you are interested and i will reach out to you personally. 

Thank you!

Jin Kim

CRM Product Owner

3 replies

I
Rank

Hi Jin - 

We would definitely like some improved sales metrics in CRM related to the different stages of an opportunity.  Say that I have 5 stages an opportunity progresses through.  For each month I want to know...

  • How many opportunities progressed from stage 2 to stage 3, vs from stage 2 to Lost?
    • In Jan 45% were lost and 55% went to stage 3.  In Feb 35% were lost and 65% went to stage 3.  etc.  Trend over time can show the impact of process improvements, personnel changes, pricing changes, etc.
  • How long did it take for an opportunity to progress from stage 2 to stage 3/lost?  
    • In Jan it took an average of 4.3 days to progress through stage 2.  In Feb it took an average of 2.9 days to progress through stage 2, etc.  Trend over time shows the impact of process improvement, etc.
  • This would be the same for stage 1 to stage 2, …  stage 5 to Won, etc. 
  • Also, the overall number of opportunities each month that were won / lost and the average total time for an opportunity to progress.

Right now we are only able to see a snapshot of this instant in time…  how many opportunities are in each stage right now.  This doesn’t help us with process improvement.  We would welcome discussing this with you!!

IAN
Kandy Beatty
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Userlevel 7
Badge +16

Hi @Jin Kim 

I know I am right now implementing 2 CRM’s and one of the asks is a year over year metrics for opportunities. For example, what was the opportunities in 2022 and what were they in 2023? 

Another one would be, what is the Revenue potential for the next year? Based on say the prior year?

 

Kandy ~ If a member helped you, please *Like* their post, and if a member provided an answer to your question, please mark it as *Best Answer*.
D
Rank

Hi @Jin Kim,

A conversation I had with an Acumatica subscriber’s VP of Sales this morning brought me to the Community where I found this post.  The private equity firm that owns his company is requiring him to corroborate the sales potential of his pipeline.  Metrics needed to accomplish this are 1) start date, end date and duration of opportunities in each stage, 2) Each opportunity’s initial stage (some opportunities skip stages at the beginning of the process), and 3), the stage in which each opportunity was won or lost (this mostly applies for analyzing lost opportunities which can be lost anywhere along the sales process; most won opportunities progress through all the final stages in the sales process).  Based on our analysis of this information, conversion rates and other opportunity characteristics, we wish to assign each opportunity it’s own unique probability of being won.

Has this post and related efforts led to a roadmap for enhanced sales metrics?  Are you able to share your plans?  Knowing what you have planned might influence our work on a temporary custom solution.

I’ll gladly make an introduction and facilitate a discussion with the VP if you’re interested.

--John Beiler
john@jnbeiler.com

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