Reports are to Sales Leaders as stethoscopes are to doctors.
Diagnostic equipment – like stethoscopes – help health care providers measure and observe various aspects of a patient’s health so that they can form a diagnosis and prescribe a remedy.
Similarly, Sales leaders use metric reports to measure and observe the health – or performance – of their team to diagnose the root causes of success and course correct inefficiencies.
Most sales leaders are left without their diagnostic tools when it comes to traditional direct mail. The problem with traditional direct mail is a lack of reporting and visibility into what’s working and what’s not. Therefore, sales managers have difficulty coaching their team towards success in key areas like targeting the right accounts and contacts, how many meetings were booked, and how many opportunities were influenced, by direct mail.
Alyce Isn’t Traditional Direct Mail
Most sales managers using a direct mail solution are flying blind on its impact on their team. Alyce demystifies what happens after a gift is sent. Thanks to completely transparent reporting, Alyce has visibility into key milestones during every step of the gifting journey, including:
- When your gift invitation was sent, received, and viewed, and accepted
- If your gift invitation was accepted, exchanges, or declined
- If the value of the gift was donated to charity
As a result, with these data points available, you can now make real-time decisions using these gifting metrics.
The 3 Gifting Metrics in Sales To Care About
Most Sales leaders care more about net results than key performance indicators. Sales leaders using Alyce find these 3 gifting metrics in sales as most useful when assessing the impact of gifting for their reps:
1) Sent to Booked Rate:
Number of Meetings Booked / Total Number of Gifts Sent
Most managers look at this on a rep-by-rep basis so they can look for any outliers in high sent to booked vs low sent to booked rates.
When assessing Sent to Booked Rates, there are several variables to consider. For instance, are your reps sending this to a high-value contact at a high-value account? Where within the customer journey are you sending gifts? Where is Alyce within your outreach cadences? What messages are your teams composing alongside the gift?
Considering these variables and the type of gift invitation your reps are sending ( physical vs digital ), here are a few baseline metrics the Alyce team suggests:
Email Gift Invitation: Sent to Booked 8% – 10 %
Physical Gift Invitation: Sent to Booked – 14%
2) Amount ($) of Opportunities Influenced:
This is the total dollar amount of opportunities that Alyce has influenced. Sales leaders looking for emerging trends that produce results are looking at the tactics that have influenced the highest quality “at-bats” for their reps. By looking at the value of opportunities influenced, this indicates the overall effectiveness of using personal gifts to target key contacts at your accounts.
3) Pipeline to Spend Ratio:
The pipeline-to-spend ratio is one of our favorite SMarketing metrics. It acts as a valuable feedback loop between Marketing and Sales to measure the effectiveness of the campaigns run in Alyce.
This ratio looks at the cost associated with each Alyce campaign and its performance relative to the total dollar amount of pipeline it generated.
Here is how to calculate pipeline to spend:
Total Value ( ACV ) of all Opportunities / Total Alyce Campaign Spend
To clarify, the higher the ratio, the better the campaign performed. As you identify your highest performing Alyce prospecting campaign, start testing variables to increase the performance of your other campaigns.
The Bottom Line
Sales leaders use many reports and metrics to monitor and diagnose opportunities for their reps. However, the best Sales leaders arm themselves with metrics that highlight efficiencies or opportunities in their team. By learning what trends to monitor, Sales leaders can act quickly to adjust declining sales metrics and positively reinforce those on the rise. Make it part of your week to analyze these metrics and you’ll see a boost in your pipeline.
Want to more about other reports we love? Take a look at this article: The 3 Essential Reports to Set Up in Salesforce for Alyce.