At Q Group, our ultimate goal is to “build your business…measurably.” And that’s why QMetrics are an integral part of what we deliver. Every element of the sales and marketing program must be monitored in order to ensure both the desired results and continuous improvement. That’s why Q isolates and analyzes these key metric indicators:
1. Sales Process. There are typically two key elements of the sales process which demand accountability. The first is obvious: how many leads are generated by the campaign and/or program? However, what’s often not done is an analysis of outcome. The Q Group recommends that each outcome is tracked and identified, be it a lead that results in a sale, or an objection which nullifies the sale, e.g., be it price, a competing offer, a corporate decision not to proceed, etc.
The second element is even more insightful—and highly beneficial in terms of future marketing approaches. That is, identifying the “point of no return” in the selling cycle. According to Q, the “point of no return” is when the momentum in the sales cycle shifts to the “buy” mode. That point may be when a prospect schedules
an in-person demonstration, when they request more information, or engage in a particular area of your website. It’s that singular action (or reaction) when the opportunity to close a sale dramatically increases.
2. Marketing Tactics. The second area to measure is precisely how are sales opportunities being generated? And this is where the chosen marketing tactics need to be integral to the sales process and the sales team. Exactly what method is being utilized to uncover opportunities? Is it sales promotion? Direct mail? An e-mail blast campaign, or a combination of direct sales techniques? Whatever strategies are being employed, they must be tracked diligently.
Naturally, every business and every prospect is different. And that’s why QMetrics are always highly customized to the opportunity and the challenge. Want an idea of what your metrics might look like? Click here to view some samples.