The importance of KPIs and the use of Pipedrive
Every company wants its products and services to be sold successfully. But how successful is your own sales department? Relevant key figures alone can be used to measure whether the set operational goals have really been achieved and in which direction sales are developing. In the following we would like to explain to you what role the so-called KPIs play and how you can use a software tool like Pipedrive correctly for data analysis.
What are KPIs and what are they used for?
The key performance indicators, or KPIs for short, comprise a large number of relevant key data of your company and especially your sales. In the abundance of data that can be collected, it is not easy for many companies to filter out individually relevant KPIs and use them as a measure of sales success. The most important parameters include:
– Market share and market perspective
– Results, forecasts and sales achieved
– Sales efficiency (costs versus sales)
– Stability of sales development
– Market figures for new versus old products
– Lead development or general customer development
You will regularly collect these and many other figures in your company and show them in your annual financial statements or balance sheets. However, it is difficult for many companies to use the sales data meaningfully for an analysis and to use it as a basis for decision-making for further corporate development.
Use KPIs correctly in your sales department
The collection and evaluation of KPIs makes successes and company developments measurable. Without a strategic approach to make the numbers usable, you provide your sales department with a reliable overview of developments in your company.
The comparison of the target and actual state and an evaluation of the efficiency of implemented sales measures also provide one of the most important control and control functions. It is important here to understand the causes and to evaluate them objectively after recording the KPIs. On this basis, it is possible to advance sales in the long term and to turn the right screws for contemporary and intelligent sales.
Consolidation of all information is essential due to the large number of KPIs. Here, companies rely on software solutions that create meaningful analyzes from an abundance of collected figures without any effort.
How Pipedrive and the integrated Insight function can help
Pipedrive is one of the best-known software solutions for recording and evaluating KPIs. The application collects a large amount of information relevant to sales and creates various types of reports that make it easier to evaluate the key figures. The so-called insight function is available as a powerful feature.
In addition to creating reports, this enables dashboards to be set up. In the reports area, only a few clicks are necessary to create meaningful statements and analyzes from the existing data. These include, for example:
– Deal performance and deal conversion
– Deal progress in your sales cycle
– Total amount of recurring sales (e.g. subscriptions)
– Activity performance of yourself or your team
– Email performance in digital sales
Once you have created reports, you can add them to a new or an existing dashboard. Every Pipedrive user thus has the option of accessing different types of reports and integrating them into their own analyzes or reports. The content can of course be adapted; for read access, it is sufficient to simply send a link to leading to the report. The exchange of meaningful analyzes from the KPIs of your company could not be realized faster and more carefully.