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What metrics should I track for a pipeline management software?
We just implemented a pipeline management software and I'm curious to know what metrics I should track? There's a few that I'm planning on tracking- e.g. time to close, number of open prospects, etc. I'm wondering if there's any hidden ones that I could be missing? What metrics do you track?
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2 Answers
Normally I would track also time to close. But also probability of closure. If you multiply this with the expected revenue you can see how things progress. In addition you can see how accurate your sales team fills in the pipeline software from one point of measure to the next.
There are many questions I have for you in order to properly answer this question, but I will do my best going in "blindly". If you have a sales team environment, I'd want to know close ratio per sales rep and against one another; I'd want to know how each team (if applicable) works together; prospects by stage/status; by service/product offering; by source (referrals, website, marketing campaign, etc.) -- what's working for your company on the marketing side to get to sales?
These are just a few without knowing more about your company. I hope this helps!
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