6 Hubspot CRM KPIs for every Sales Manager’s Dashboard
The Modern Sales Process
Every company’s main drive is the generating of sufficient revenues, which is highly related to survival. Thus, it becomes evident why monitoring the performance of the sales team is a must and a critical point to a sales manager’s everyday routine.
Nowadays, the use of different cloud applications like Customer Relationship Management (CRM) systems can create enough leverage for your sales team and ensure a modernized sales process. Using the valuable data residing in your CRM, you can produce all the necessary data for your key performance indicators.
Hubspot’s Data:
Hubspot as one of the most widely used CRM systems which can centralize all information regarding companies, contacts, and deals into records. Each combination of these object types can create unique properties for assisting you in generating meaningful business insights.
That being said, the appropriate key performance indicators (KPIs) for a sales manager can create the whole picture regarding the performance of the sales team.
If you are an SQL type of person you may go here and find the SQL code for these Hubspot CRM KPIs.
So far, we have explored a more comprehensive set of Sales KPIs, proven to be extremely useful for every sales team. Let’s see what we can build with the data that Hubspot CRM has available.
Using this dashboard, the key performance indicators which may be useful to monitor, as part of the prospecting activity and pipeline flow metrics, include the total number of deals generated in a specific period, e.g., month or quarter, or even their breakdown based on concrete Hubspot CRM pipelines.
Prospecting Activity & Pipeline Flow Analysis
Monthly Total Deals
Usually, an initial indicator is the analysis of the Total Monthly Deals.
This visualization allows you to see how your lead generation and the deals you generate advances over time. If you apply any improvements in your process, this is where you will start viewing the first results. You can also create more detailed visualizations to analyze your sales division:
Monthly Total Deals Organized by Pipeline ID
Furthermore, the analysis of the total deals can be used for evaluating every one of your pipelines.
By segmenting the total deals in smaller groups based on Pipeline ID, you can extract more conclusions. For example, insights about specific actions such as inbound or outbound sales or promotion through different channels and how their performance evolves in time.
You can also dive even more in-depth and monitor in details the flow through your sales pipeline. The key performance indicators that can calculate the total number of generated leads, how many of them were marked as qualified by your sales team and finally what percentage of them ended up as won or lost deals.
These metrics reflect the effectiveness of the client acquisition approach directly. The percentage of leads that finally converted into paying customers is an indicator of your salespersons’ performance but can also provide you with additional information.
For example, if you find out that the conversion rates dramatically decrease after a certain number of touches, you can use this knowledge as a benchmark to prevent your team from insisting more than they should.
Every deal in a microscope
In Hubspot, each deal at any given point in time belongs to a particular pipeline stage as it processes through the sales funnel.
In the general case, these stages include leads, qualified leads, and won or lost deals.
Your sales funnel, can include many more custom-made stages specific to your business case but for simplifying this post, let’s assume that the only four stages, which previously mentioned, exist.
Monitoring the number of deals at any of these stages can easily calculate the conversion and drop-out rates while in case the results are not satisfying enough you have to dig deeper to reveal what pushes your potential customers away.
Alternatively, you can define contacts as the units of your analysis. Exactly as we did with deals above, you can monitor the total number of new contacts created in a specific period.
You can also change the granularity of such an analysis by switching from daily to monthly intervals based on what is more suitable for your specific business case.
Contacts created by month
Additionally, you can create dashboards with the number of contacts every month.
Sales Productivity
Another aspect that is worth mentioning is the monitoring of productivity. Every manager wants to know how well the sales reps are performing in comparison with their co-workers. That can help him either reward those who demonstrate excellent performance and achieve the sales goals or provide further guidance to those who don’t.
For this purpose, metrics that are relevant to the distribution of lost and won deals among sales reps can be helpful.
Some of the metrics can be:
1) Deals distribution among sales reps
2) Deals distribution among sales reps organized by deal’s current stage
Monitoring the relative difference between won and lost deals for every sales representative, a manager can extract interesting information regarding his team.
In case a daily or monthly goal is set for every member of the team in terms of deal generation or deal wins, these metrics, along with other KPIs, are valuable in quantifying the extent to which these predefined goals are achieved.
Final Thoughts & Considerations
Conclusion
Thus, there are more possibilities you can read about Hubspot CRM KPIs.
Once you have defined a basic set of KPIs that suits your business, then you can start with analyzing the information you can get out of them. You may understand why you get these results, how you can improve your sales team performance and determine if there are other KPIs that you may need to monitor as well.
After all, establishing a complete KPIs dashboard is the result of an iterative process. It requires constant revisions until the selection of the final KPIs directly reflected or are tied to an overarching goal.
Further Considerations
To create fast and accurate reports, it is essential that each manager collects and synchronize his data.
That is why you need Blendo!
Blendo is a simple, ETL-as-a-service platform, designed to support the integration of data from multiple SaaS applications like Hubspot.
You can get more information or sign-up here:
Originally posted in Blendo Blog
