KPI – KEY PERFORMANCE INDICATORS
Key Performance Indicators (KPIs) are the elements of your plan that express what you want to achieve by when.
They are the quantifiable, outcome-based statements you’ll use to measure if you’re on track to meet your goals or objectives.
A MEASURE
Every KPI must have a measure. The best KPIs have more expressive measures.
A TARGET
Every KPI needs to have a target that matches your measure and the time period of your goal. These are generally a numeric value you’re seeking to achieve.
A DATA SOURCE
Every KPI needs to have a clearly defined data source so there is no gray area in how each is being measured and tracked.
REPORTING FREQUENCY
Different KPIs may have different reporting needs, but a good rule to follow is to report on them at least monthly.
Examples of Sales KPIs
- Number of New Contracts Signed Per Period
- Dollar Value for New Contracts Signed Per Period
- Number of Engaged Qualified Leads in Sales Funnel
- Hours of Resources Spent on Sales Follow Up
- Average Time for Conversion
- Net Sales – Dollar or Percentage Growth