A business organization without a sales KPI will act like a blind man in front of a manhole. Why? According to The Sales Experts report, 79% of active business leads fail due to insufficient practice of sales KPI tracking. Especially, when your company is large, you could forget the leads easily for an overload of work. But when we released ProKPI, our clients had only 3% fail in leads.

There, the question comes, why tracking sales targets through KPI works and how to effectively track using ProKPI. The short answer is, that ProKPI gave users the opportunity for data visualization and goal setting in one place. Recent data statistics pointed out that data visualization removed 24% of the need for meetings, and managers are getting 28% more chances to find timely information.

But that’s a lot of mathematics! Without any of that complexity, let’s unveil the mysteries of KPI and sales targets in the easiest way. If you are new to KPI management, don’t worry. Our guide will provide you with the definition, examples, and best method of tracking sales targets through ProKPI.

Key Takeways in the Blog:

• The definition of sales target and how does it work in a business
• The benefits of sales tracking via a KPI management software like ProKPI
• The working process of ProKPI and how it is different from other KPI measurement tools.

Definition of Sales Target and Behind the Reasons

Sales target is the goals set by the sales team for better performance. It is the ideal unit of measuring the team success. Primarily, managers use four types of metrics to identify the sales target. They rely on some criteria to determine the sales target, such as company goals, future growth prospects, and shifting market dynamics. 

Metrics for Sales Target:

1. The total units sold
2. The revenue earned from sales
3. The amount of sales
4. The new leads or clients after the sale

How Does Sales Target Work in a Business?

Sales targets are specific goals for sales amounts, often tied to revenue or units sold. They act like a road map, keeping everyone on track to achieve the company’s overall sales objectives. They motivate salespeople to push for success and provide a benchmark to measure performance. Regularly tracking progress helps identify areas for improvement and celebrate achievements.

Why Companies Set Sales Targets?

• Direction & Focus: Targets give both employees and the company a clear direction that keeps everyone motivated and accountable for their progress and regress.
• Continuous Improvement: By comparing past targets with current sales, companies can track progress and identify areas for improvement. 
• Performance Measurement: Sales targets act as benchmarks to assess the effectiveness of sales teams and individual salespeople.
• Profitability: Setting realistic targets based on revenue needs helps young companies build a profitable sales force. Once they make a sales standard, they never back down from it.
• Understanding Potential: Sales targets are learning tools. Companies can set more accurate goals by analyzing past performance and unlock their full sales potential.

Importance of Sales Tracking with KPI Software like ProKPI

ProKPI proves its features through its name. Professionals often need an automated KPI tracking system that not only keeps notes of the sales target but also has options to get reviews and feedback from the supervisor. Here, feedback is one of the eight performance factors that made 60% of employees better by developing soft skills. It helps in the learning KPI to grow employee quality, which is important for sales related jobs. Ultimately, sales tracking through KPI software will provide growth opportunities for better skills. 

Benefits of Sales Tracking via ProKPI

The main feature of KPI management software like ProKPI is to analyze the KPI achievement patterns. When managers have a pattern to reach their target sales, they need the employees to follow it. The reasons are:

• Understand Project Performance: If the project performs badly, more sales are not possible. Using ProKPI allows you to understand how the sales are performing. You can stop manufacturing if the project fails in performance.
• Identify the Need for Training: A salesperson who fails to deliver the right information indeed requires vast training. ProKPI shows details results of the project and tasks, so it becomes easier for management to send employees to training for better sales.
• Learning Communication Skill: Communication is the key to sales. Using ProKPI, you can send the KPIs back and forth for feedback. It develops a better communicative approach that ultimately helps the employee communicate with management and the customer both.

The Work Process of ProKPI and Its Usefulness

ProKPI users can set strategic KPIs based on their quarterly or yearly goals. Strategic KPIs are quantifiable measurements that track a company’s progress toward its long-term goals and vision. Imagine them as guideposts on a road trip. They ensure everyone is headed in the right direction to reach the final destination.

How to Retain?

• Strategic KPIs ensure all departments and employees are working towards the same vision.
• These KPIs go beyond short-term wins to make strategic choices that drive sustainable growth.
• They track progress towards those long-term goals, revealing areas that need adjustments.

How Strategic KPIs Help in Reaching Sales Target?

Strategic KPIs are the guideposts that keep sales teams on the right track. In ProKPI, the strategic metrics look beyond daily wins, focusing on long-term goals like customer acquisition, retention, and market share. The software is designed in a way that all industries can set their targets and track them efficiently. 

Furthermore, the RainmakerCloud tracking report states that, the average win rate for sales target tracking is 47% across a number of industries. Using top rated KPI management software like ProKPI allows them to set alarms off for any fluctuations in sales targets. Strategic KPIs also act as early warning systems. In short, strategic KPIs are the secret weapon for sales teams, helping them navigate the long journey toward achieving and surpassing sales goals.

How to Use ProKPI?

https://www.youtube.com/watch?v=QuMz-TsGhXo&list=PLT79q8xBIzXJDSFErf71_vR76oShY10a_&pp=iAQB 

[Complete Tutorials]

Conclusion

The main motto of ProKPI is to “ignite your team performance.” It is the perfect chamber to convert B player to A player in terms of sales-related corporations. In the market, there are few KPI tracking and management software. 

Not to mention, all of them are overpriced and complex. But you can purchase ProKPI at the most affordable prices. We have experienced the organic sales of the ProKPI after a week of launching. That establishes the fact that ProKPI is a name of hope to track sales targets for any kind of business.

FAQs

What features can I get from ProKPI to track my sales target?

You will get customizable metrics and reports that help you make evaluations. There are advantages of real-time tracking, so each member can get real-time feedback for timely decision making. Lastly, the hierarchy system is excellent for supervision, who likes to check the sales target and provide their opinions based on current conditions.

Do I have to install ProKPI?

No. You do not have to install ProKPI. Once you get your email and password, you can directly log on to the dashboard and start your operation. You have to set up the company user-profiles and start project monitoring. The employees will set their goals according to your meeting, and then you will have full access to overwatch anything until the evaluation period.

Can I test ProKPI without an account?

Of course, you can try ProKPI without an account. For that, you have to click on the “Demo” button from the menu of the ProKPI website and then log in using the provided credentials on the page. There is one account for the admin and one account for the user. Remember that this is a minimal version of ProKPI to give an overview. Also, the main version contains more functionalities.