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. Similarly, Sales leaders use reports to measure and observe the health – or performance – of their team to diagnose the root causes of success and course correct inefficiencies.
When it comes to traditional direct mail, most sales leaders are left without their diagnostic tools. The problem with traditional direct mail a lack of reporting and visibility into what’s working and what’s not. Without visibility into a sales tool, sales managers have difficulty coaching their team towards success on key areas like targeting the right accounts, targeting the right contact in an account, how many meetings were booked, and how many opportunities were influenced, by direct mail.
Alyce isn’t Traditional Direct Mail
While most sales managers using a direct mail solution are flying blind on their teams’ performance, Alyce demystifies what happens after a gift is sent. Thanks to completely transparent reporting, Alyce has visibility into key metrics of success during every step of the gifting journey.
During the gifting journey, Alyce tracks the following milestones on every gift you send:
- When your gift invitation was sent
- When your gift invitation was received
- When your gift invitation was viewed
- If your gift invitation was accepted
- If your gift was exchanged
- If the value of the gift was donated to charity
- If your gift was declined
With these data points available, not only can you make real-time decisions about your outreach, your sales manager can report on 3 key metrics that will ultimately improve your performance.
The 3 Personal Gifting Metrics Your Sales Manager Actually Cares About
Most Sales leaders care more about net results than key performance indicators. These three metrics are what the Sales leaders using Alyce found most useful when assessing the performance of reps using Alyce:
1) Sent to Booked:
This is the total amount of gifts sent to prospects divided by the number of meetings booked. Most managers want to look at this on a rep-by-rep basis to look for any outliers in high sent to booked ratios vs low sent to booked ratios.
When assessing Sent to Booked, there are several variables to consider: 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 amount of opportunities influenced, this indicates the overall effectiveness of using personal gifts to target key contacts at your accounts.
Keep an eye quality over quantity. While the overall number of opportunities influenced by Alyce might increase slightly, the dollar amount of each opportunity influenced by Alyce should increase. This indicates Alyce is influencing higher quality deals for your company which means higher ACV and better retention rates.
3) Pipeline to Spend:
The pipeline-to-spend ratio is one of our favorite SMarketing metrics. This ratio looks at the cost associated with each Alyce campaign and analyzes its performance relative to the total dollar amount of pipeline it generated. This ratio is a valuable feedback loop between Marketing and Sales to measure the effectiveness of the campaigns run in Alyce. Here is how to calculate pipeline to spend:
Total Value ( ACV ) of all Opportunities / Total Alyce Campaign Spend
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. The best Sales leaders equip themselves with metrics that highlight efficiencies or inefficiencies 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 weekly 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.