Sales Velocity: 4 key metrics controlling your income
The definition of Sales Velocity is the speed at which your team is making money. The Velocity Formula: If normal velocity is "miles-per-hour" you can think of sales velocity as "money-per-month".
Invoke sales velocity formula step by step
Take an Overview with
Sales and marketing initiatives have to be calculated and well planned. The best way to prepare for that is to have a clear picture of your current sales “health”. Sales Dashboard gives you an insightful glance into your sales performance. Each analytical chart presents key areas in sales that require constant monitoring.
One of the key charts on the Sales Dashboard is the “Win Ratio”. This insight is based on a calculation of efforts required to close a deal. The chart presents two calculations for a deeper understanding of a “Win Ratio”. First, it calculates the amount of opportunities (deals) required to achieve one successful sale. Second, it calculates the number of leads required to achieve one successful sale.
With everything being tracked these days, there are enormous amounts of data. Don’t waste it - put it to a good use. Teamgate analyses your sales actions, tracks your activities and presents data in a visually appealing, yet extremely informative way. It is more than your activity or action summary. Teamgate Insights presents visual graphs and charts, derived from all collected data, with forecasts, projections or analysis.
Would you agree on quantity over quality? We suggest optimizing your sales efforts. Instead of pursuing every lead you have, you may rank them according to their value to your business. The lead scoring solution solution offers exactly what you need and can help you focus on the leads that matter the most. Imagine your ideal customer profile and Teamgate will highlight them for you.
Leads in a “List view” show you all new and current leads that you are working on. By checking Lead’s score, you can quickly establish which leads you should concentrate on and which ones can be unqualified straight away. Focusing on the leads that carry the most value will help you spend less time on weak leads, while giving more time to focus on valuable leads.
Dive into a day-to-day playground for sales people - your Sales Pipeline, the place where a focus on average deal size and value is visible. It is crucial to stay focused on the most valuable deals in your pipeline and not let them stay too long in the same stage. Use all the necessary actions in your sales toolkit to constantly push deals that matter most.
Be a timekeeper with your sales efforts as every bit of it counts. Set specific durations for each of your sales stages to keep your sales process in tact. It will keep your sales pipeline clean and clear, without a clutter of pending deals. By keeping your pre-made sales timeline, you will be able to control the length of the sales cycle.
Drag and Drop
In order to be efficient with your valuable time, Sales CRM solutions have to work like an invisible assistant, saving you time, and allow you to concentrate on selling. The drag and drop functionality helps you quickly move opportunities across sales stages. This interface detail is simple, yet smart and effective
Find and add products
Make it easier to find and add your optional products into your sales opportunities. Apply custom discounts or markups when necessary, so there’s no need to change initial price.
Extensions & Integrations
Positively influence sales velocity formula with external, yet closely bonded solutions to Teamgate. As a sales CRM, Teamgate covers entire sales process and much more - from the first contact with an interested person, right up to analysis of your quarterly sales, and future projections. But, a salesperson needs much more than an easy-to-use pipeline and clean customer database. That’s why Teamgate offers additional solutions to support basic sales activities.
Number of Opportunities
Set up your sales for success from the beginning. The sales velocity formula is directly affected by the quantity of incoming leads. From an inbound perspective, the number of new leads will be based on traffic to the web, which is ultimately based on your brand awareness, SEO positions, referral quality, popularity and content engagement on social media. Once a stable stream of incoming leads is put in place, Teamgate takes care of lead capturing and lead grabbing. Teamgate also takes care of all the figures to allow you calculate your sales velocity automatically.
From the outbound perspective, the number of gathered leads will be based on the quality, as well as quantity, of your cold calling initiatives. These figures will also vastly affect your overall sales velocity.
Boost your outbound sales initiatives by exploring full MailChimp integrations capabilities.
Teamgate + Zapier = Cyfe
Nothing motivates you better than great results. Connect Teamgate with Cyfe and track your results on informative dashboards. Add all the necessary indicators, which require constant monitoring. We strongly believe that sales velocity should be one of them. To go one step forward, place screens on your wall and monitor necessary dashboards at all times.