92 percent of all customer interactions happen over the phone, making call management a key component of any sales process.
Taking further steps to capture key call metrics will give your team insights into process improvements and coaching opportunities that can increase sales even further. Here are four key call metrics that can help provide your team with real-time insights into your sales calls so you can convert more leads into customers and generate more revenue.
1. Call Volume
Call volume is the number of calls your sales development reps and account executives make in a given time period—an 8-hour working day, a week, a month, etc. This metric tracks the quantity of outbound sales calls by your sales team to give leadership a quantitative view into the activities that reps are completing to drive engagement and push deals forward. It is important to have a system or process that automatically logs call activities so you don’t have to do it manually, which reduces both time spent and human error.
Call volume provides you with valuable insights into the quality of a lead (his or her level of interest and openness to talk further), the effectiveness of phone calls per sales stage, and the effort that individual team members are putting into their daily activities. From an inbound perspective, this can also be used to track call volumes coming into your organization and give management better visibility into how they can better allocate resources and structure the day to day operations.
Speed-to-lead is the time it takes your sales team to contact a lead who has requested information about your services—via phone, email, online form, etc. This is a really useful metric because you can track how long it takes your employees to contact leads after they express interest in your products and services.
Research shows that quick responses to new leads improve conversions significantly, especially within the first hour. Companies, on average, also generate a 38 percent engagement rate after engaging with leads within 60 minutes. This drops to eight percent when companies engage with leads within the first 24 hours. As you can see, the speed-to-lead metric is extremely effective for sales. After benchmarking this metric, your team can look at CTI and sales engagement solutions to better manage call campaigns and develop a process that will automatically queue up the warmest leads for your reps.
3. Talk Time
Talk time is a metric that measures the time your reps are spending in conversation with prospects. This is a vital data point to measure opportunity engagement and also understand the amount of time it takes to effectively understand the pain points and use cases of a prospect as well as educate them on your product or solution. This metric tracks each conversation from the initial greeting through to the final goodbye.
Tracking this information lets you compare the average talk time in your organization to the talk time of your highest performing reps. It gives insight into the level of engagement that a rep has with a prospect and it can serve as an indicator for next steps such as when to send out a quote or when to add a lead into a nurture campaign. Monitoring individual talk times for each of your employees will also give you an understanding into which members of your sales team are most effective at building rapport or communicating about your product most effectively.
Research shows that, on average, shorter sales calls produce more results. In one study, prospects were 12 percent more likely to engage in a sales call if it lasted for 30 minutes rather than a full hour. Insights like these might help in shaping how you engage with prospects and even give you insight into a better way to structure your discovery process or product demo.
4. Conversation Outcomes
Conversation outcomes contain a great deal of insight into the performance of your sales team and the effectiveness of your messaging; however, measuring qualitative aspects of your sales process can be difficult without an effective process. By standardizing conversation outcomes and tracking them within CRM, you give your management team a data set for which to measure what is typically hard to quantify.
One way to solve this challenge is by creating custom dispositions, that align with the different call outcomes for each stage of your sales process, to be able to standardize the data points and better understand what each conversation is doing to progress an opportunity. Dispositions give insight into a prospect’s interest and engagement during a call so you can understand what type of content — call scripts, greetings, sales strategies, etc. — works best for your customers. Measuring call outcomes by individual rep, campaign and even hour of the day makes it easier to identify talk trends and other information for accelerating sales and prescribing next steps. Conversation outcomes provide you with an actionable sales measurement strategy that will help you coach your reps and develop a more efficient sales process.
Applying These Call Metrics Into Your Sales Strategy
The four call metrics on this list will enable you to increase sales acceleration in your organization. Call volume, speed to lead, talk time, and conversation outcomes — these metrics provide you with valuable intelligence about your employees, customers, and call management strategies.
When developing a strategy and process to capture these metrics, make sure to focus on the enablement of your reps. As valuable as these metrics are, it will not be sustainable to have all of this information manually entered into CRM. When developing your sales technology stack, choose a sales engagement solution that will let you automate the capture of these and other call metrics while allowing management to analyze the data within your native CRM reporting for better sales insights.