KPIs - What should they include? How to measure? What happens if they are not met?

Think S M A R T E R

Some key components of effective KPIs can be summarised by the following acronym. 

Specific - clearly defined 
Measurable - easily quantifiable 
Attainable - are the KPIs reachable
Realistic - are they practical goals 
Timely - reviewed monthly/quarterly etc
Explainable - clearly understood by all stakeholders
Relative - to your business and flexible with change


What should be included in KPIs?

Some elements that should be present within most KPIs include;
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Acquiring new business - with a focus on quality clients
Research -  elements through qualifying prospects
Face to face sales - appointments & networking events
Retention - of your client customer base through account management processes 
Conversion rate - number of enquiries made vs actual conversions
Customer focus - quantifiable data through feedback and post event surveys
Processes - eg. proposal follow ups
Marketing activities - eg. social media, promotions
Personal growth - development through attending training courses, workshops etc
Financial targets - monthly dollar figures for the business to meet

KPIs are an important element of every sales professional's job so ensure that care is taken when creating them.
Happy Converting!