Using Key Performance Indicators
Learn to measure what matters
Key learning outcomes:
- Learn that key performance indicators can help you to manage your business’s future success.
- Differentiate between lagging and leading indicators.
- Distinguish between using indicators to lead and using indicators to manage your team.
- Recognise that key performance indicators enable you to fine tune your coaching processes.
A lot of people ask us about key performance indicators and whether they are effective for managing a sales team. The quick answer is yes. Key performance indicators are essential when managing your sales team; the trick is to ensure that you are measuring the right things and that you are using the indicators in the right way. In this article we will explain the different types of key performance indicators and show how you can use them effectively to boost your team’s performance.
What are key performance indicators?
Key performance indicators measure activities or results so you can gain an insight into how your team is performing. But more importantly, they can help you to predict future performance. To ensure you are measuring what matters, you need to ensure that you are measuring an activity that is key to the performance of the sales individual or team. For example, it may be the number of times a salesperson presents to a customer or the number of generation calls they make each day or week. It is important to only measure activities that the salesperson has control over, so it gives you a picture of their performance. To be able to use the information effectively, you want to measure activities that are indicators of future performance, rather than simply measuring what has already happened. We can break down common key performance indicators into two categories: lagging and leading indicators. They are discussed below.Would you like to see the whole article?
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