At a glance
- Measure the right outbound sales metrics to track success.
- Key metrics: ROI, Deals to Close ratio, Pipeline, Discovery Calls to Close Won, Booked vs Sat, Conversations to Discovery Calls.
- Optimise each funnel stage based on KPI data.
- Use data to make informed decisions and adjust strategy as needed.
Outbound sales can be a tough nut to crack. You’re out there, hustling every day, trying to generate leads and close deals. But how do you really know if your efforts are paying off? .
I’ve been there. I remember my first outbound sales gig – I was eager to crush it and prove myself. But after a few months of grinding, I realized I had no idea if I was actually making progress. It was like running on a treadmill – a lot of sweat, but no real movement.
That’s when I learned the importance of measuring the right outbound sales metrics and KPIs. Because let’s be real, if you’re not tracking your performance, you might as well be throwing darts blindfolded.
Table of contents
So, let’s dive into the 6 key performance indicators (KPIs) you need to ask to assess to establish whether your outbound strategy is actually successful.
1. Return on Investment (ROI)
Is your outbound sales strategy actually generating a return on investment? This is where you need to put on your accountant hat and crunch some numbers.
The simple way to do this is to look at your total outbound sales expenses (salaries, tools, tech, etc.) and compare them to the revenue generated from your outbound efforts. If you’re spending more than you’re bringing in, it’s time to re-evaluate your approach.
Treat your outbound strategy like a business – if it’s not profitable, it’s not sustainable.
2. Deals to Close Rate
Generating pipeline is great, but if those opportunities aren’t converting into closed won, something’s off. Your deals to close ratio is a critical outbound sales metric that tells you how effective your team is at sealing the deal.
Take a look at the number of closed deals compared to the total number of opportunities generated. If your close ratio is low, it could be a sign that your sales process needs some tweaking. Are you qualifying leads properly? Are you addressing objections effectively? Are you following up enough?
3. Pipeline
Generating pipeline is the lifeblood of any outbound sales strategy. When your pipeline is inconsistent, so is revenue. A steady revenue flow requires the right mix of demand generation, account nurture and deal close.
Track your pipeline generation over time – are you seeing a steady increase in the number of qualified leads entering your funnel? If not, it’s time to take a hard look at your outreach tactics and messaging. Your sales team’s capacity can also impact the pipeline: if they’re too busy closing deals, prospecting efforts can be neglected, leaving the pipeline to dry up.
Don’t let your pipeline generation become an afterthought, or you risk a future dip in revenue.
4. Discovery Calls to Close Won Rate
Okay, so you’ve had a great discovery call – the prospect is engaged, asking all the right questions, and seems genuinely interested. But how often do those calls actually convert into closed deals?
Your discovery call to close ratio is a crucial outbound sales metric that sheds light on the effectiveness of your sales process. If you’re having killer discovery calls but struggling to close, it’s time to examine your follow-up game.
Are you sending personalized, value-driven proposals? Are you addressing any lingering concerns or objections? Are you staying top-of-mind with timely check-ins and valuable insights?
Remember, the fortune is in the follow-up. Don’t let those hard-earned discovery calls go to waste.
5. Discovery Calls Booked vs. Sat
You’ve booked the discovery call – great!
But if the prospect doesn’t show up, it’s all for naught. Tracking your discovery calls booked to discovery calls sat ratio is key to identifying any issues with your booking process.
Are you making it easy for prospects to schedule and attend calls? Are you sending reminders and providing clear instructions? Are you booking calls at times that work for your prospects’ busy schedules?
No-shows are a bummer, but they’re also an opportunity to optimize your process and improve your show rate.
6. Conversations to Discovery Calls Rate
Finally, let’s talk about the top of the funnel – the initial conversations you’re having with prospects. Whether it’s through cold calls, emails, or social media outreach, these chats are the first step in building a relationship and generating interest.
Track your conversations to discovery calls booked ratio to gauge the effectiveness of your outreach. If you’re having a ton of conversations but struggling to book discovery calls, it’s time to reassess your approach.
Are you targeting the right people? Is your messaging compelling and customer-centric? Are you asking for the meeting at the right time, in the right way?
Optimising your outreach strategy can have a big impact on your overall pipeline generation and revenue growth. So don’t neglect this critical piece of the puzzle.
Final Word
Whew, that was a lot to take in! But trust me, asking these 6 key questions and tracking the right outbound sales metrics is absolutely essential to the success of your outbound strategy.
It’s not about working harder, it’s about working smarter. By consistently measuring and optimising your performance, you can make data-driven decisions that lead to real, tangible results.
You may even realize that your current solution is not working, your sales team lack capacity to attend successfully to each of the KPIs, or that it’s time to approach an agency (like Punch! 😉) to help you solve challenges in your outbound efforts.
