When was the last time when you were happy with the performance of your sales?
Well, if it was a long while ago, then we really feel you because almost every business on this earth faces ups and downs now and then.
But what if we tell you that a few simple TRACKING strategies can just help you optimize your sales and give you visible improved sales results?
Yes, you read that right, as today’s blog post is all about monitoring ROI and boosting sales in your call center, where we discuss some amazing strategies that are sure to rock your revenues.
So sit back, relax, take a sip of your coffee, and keep reading the article right till the end to know more.
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6 Top KPIs To Monitor Lead Source ROI
Let’s head to the following, which lists the top KPIs that your sales team needs to monitor to track the lead source ROI.
1. Return on investment (ROI)
The first one we have on the list is a fiscal KPI that gives you an idea of how much profit your investment generated.
Keeping an eye on this KPI is very important because if the ROI comes as positive, it’ll mean that you’ve just secured a profit. If it’s the other way around, then a loss is your way.
Monitoring ROI also helps you justify your investments and determine whether they are worth it or not.
The formula for ROI calculation: ((amount gained – the amount spent) / amount spent ) x 100.
2. Lead Conversion Rate
This is a measure of the percentage of sales made calls out of the total calls that were made.
And! From this, you can understand how important it is to measure.
If the lead conversion rate’s percentage is low or poor, it means you’re unable to make enough sales, but you’re spending more on lead acquisition.
And no one wants that, right?
So, continuous monitoring of this KPI is crucial. The following highlights some tips that can help you improve your lead conversion rate:
- Reviewing agent scripts regularly
- Training agents well
- Researching more on your leads
The benchmark rate for the KPI: anything above 10%
3. Cost Per Acquisition
Would you ever spend your money somewhere where you’re only spending dollars but don’t see any visible outcome?
Never right?
That’s what this KPI monitors. It is a measure of the average cost of gaining new leads. With this KPI, you can easily track your profitability and whether your money is spent in the right place or not.
Since profit margins and business criteria for every business are different, there’s no specific benchmark for CPA.
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4. Email Deliverability Rate
It is a measure of how successfully the email was received by your recipient or lead without any bouncebacks or spam reports. It is a crucial KPI because lead generation itself only starts growing from this email.
Not only this, but the KPI also helps you to ensure that your mail was received by the right recipient.
Formula: (emails delivered / emails sent) x 100.
5. Click-to-open Rate
This gives you a measure of how many prospects opened the mail you gave.
So it’s a no-brainer that a high percentage of it means your email actually did wonder, and leads are interested in taking your services.
Businesses should aim for a click-to-open Rate of at least 70%. However, several factors are there to improve this KPI, such as:
- Proper email timing
- Catchy email subject line
- Your brand value
Formula to calculate Email open rate: (number of emails opened / number of delivered emails) x 100.
6. Demo Booked To Deal Close Rate
This KPI is a measure of how often a demo of yours converted into a successful closed sale.
Therefore, a high percentage of it is always desirable, which would mean that your demos are pretty effective and help leads to get convinced.
However, a lower rate of the KPI indicates that you gotta work hard on your demos and perhaps make a few changes in your demo strategies so they can attract prospects.
Formula: (number of closed deals/number of demo bookings) x 100.
End Note: Optimize Your Lead Source ROI by Tracking These KPIs
So that was all of it from us today on optimize your lead source roi by tracking these KPIs
As you saw, implementing a few simple yet efficient monitoring strategies can simply do wonders for your sales.
If you are also running a call center business and perhaps want to increase your sales, don’t forget to use the KPIs that we mentioned and witness the dramatic improvement of your revenues.
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