Winning New Business For Dummies

Chapter 22

Ten Key Metrics to Watch

IN THIS CHAPTER

Knowing your numbers

Keeping your pipeline filled

Growing more efficient

In any new business sales role, you have a number of measurements, generally handed down by your sales line management. Paramount among these is your revenue target. You may also get targets such as number of new appointments in a week or number of prospecting calls made. These secondary targets are actually worthless in nearly all cases, and although they may satisfy a sales reporting structure, they won’t do anything to assist you in reaching your overall revenue goal.

This chapter explores ten key metrics to help you achieve your revenue goal and shows you how to set, track, and measure them. To succeed in winning new business, you always need to know your numbers. When you understand the ten key metrics, you’ll be in a good position to determine how many suspects and prospects you need to have at each stage of the pipeline to meet your new business revenue target.

Initial Decision Maker Contact (IDMC)

The initial decision maker contact (IDMC) is where a sales cycle really begins; it’s the point where the prospecting of that client turns into real sales ...