MPS Toolbox discussed strategies and targets to help business sales.
To help organisations achieve their revenue goals from 2017 through 2020, the six key performance indicators (KPI) point the way forward. As products change over periods of time, then so should sales tactics, said MPS Toolbox, and it also suggests when businesses need to sustain themselves and when they need to introduce new initiatives, the New Year is the best time.
KPIs are measurements that indicate how the company is doing, and new initiatives should be backed by these every time. As an example the article said that “10 years ago Apple didn’t sell phones, yet today phones are [two-thirds] of their revenue”, and that the “seeds you plant today may not immediately bear fruit, but all new initiatives need to start somewhere”.
The first KPI advises new accounts for customer relations management, which includes emails, and the target for this is five per week from each sales representative, which can increase the database by 1,000 contacts if four sales representatives do it. It is important because the sales team is the best option for building a lead database.
The second KPI is to target emailed and online sales quotes, and each representative should do two quotes a week, which is 100 a year, which improves the sales team’s online deliverance and improves sales to millennials. The third KPI is new online buyers, and the target is two per month, which if four representatives targeted would lead to over 100 e-commerce customers.
20 percent of business-to-business is through e-commerce, and so the business’s search engine optimisation will increase as site traffic and online sales do, which increases company value. The fourth KPI is for printer supply monitoring, and sales representatives should sell 20 devices a month, and as “most office printers are not under contract” supplies will be needed, and are the best product to “automate into e-commerce sales”.
The fifth KPI is to increase website visitors, and the target is 250 per month, which if not achievable then MPS Toolbox suggests changing the business’s marketing partner. The final KPI is the online revenue, and that target s $100,000 (€93,500) a year per sales representative. The reason this is important is because without “separating out an online quota [the] sales team will continue to ignore [the] website”.
By 2020 20 percent of all business-to-business revenue will be online, MPS Toolbox, states, so there is “no time to waste getting started”, and the six KPI should “enable most companies to still focus on sales activity on what drives revenue today”.