Home Advertise Contact Blog Advertiser Login RSS
Newsletter Signup

Business Opportunities to Own
Home-Based Businesses
Choosing a Business Opportunity Growth and Profit Marketing and Sales
Plans and Goals Running Your Own Business Start-Up
Working From Home Entrepreneur Exchange Feature Articles
Opportunity Community Opportunity Focus In The News

Everyone will be hearing a lot from the newest addition to our staff: Digital Marketing Manager Hired Margaret Mallonée! This hire was a strategic move to enhance our staff for the new digital media platform we will be introducing in the weeks and months to come. Chicago,...

Slammed last year by what will surely be one of the most expensive and devastating natural disasters to ever hit the Northeast, millions of individuals, many of whom are work-at-home or other small business owners, are only now years later truly beginning to recover from the damage that Hurricane...

Changing Your Life - Do you look around at your cubicle and dream of the day when you view the world from your yacht? You can do it if you follow the right steps.

Changing Your Life- The dreamer’s road from wage slave to millennial millionaire is paved with hopeful thoughts. The winner’s road...

Sponsors

STARSCAPES®
Imagine making up to $500 to $1,800 a day! Call or click now see how you can get your business for FREE! (602) 679-0257
Promotional Products Home Business
Run Your Own Business. Be Your Own Boss. Earn Great Profit Potential. Start At A Low Cost. Try It For Free! Learn More.
Hurricane Recovery Resources for Business Opportunity Owners
in the wake of a crisis of this magnitude can be especially maddening, DisasterAssistance.gov is good place to start...
How Many Leads Does It Take To Close A Sale?
This article is now live on our blog and I know could be very insightful for many. Read On
Residual Income Business Opportunities
Residual Income is the way that you work once and get paid multiple times—sounds great!... Read On
Productivity Hacks — Our Top 50
Productivity Hacks will help you make more from less this 2016. Here at BusinessOpportunity.com we want to... Read On
Top 7 Reasons to Consider a CMS
The internet loves obscure abbreviations. You can skip over most of them, but not CMS. What is CMS? read on...
The Ideal Length of Everything Online, Including Social Media Posts
When one of your busiest marketing channels limits you to 140 characters, you know that the internet sets its own rules.
It Takes a Hot Voicemail to Land a Warm Lead
If you're a successful entrepreneur who provides others like you the chance to follow in your footsteps... Read On
Low Cost Business Opportunities to Own
Are your right for a Low Cost Business Opportunities to Own? The desire to own your own business... Read On
Sales Hack To Increase Your ROI and Productivity
Sales Hack to make you more money! Sales Hacks are not new, but how you use them is. We receive lots of emails.. Read On
The Top 10 Reasons to Buy a Business Opportunity or Franchise
Starting your own small business is part of the American Dream, right up there with owning your own home. Read On
7 Keys to Leading Highly Effective Sales Conversations
Most people's sales conversations could be better. Not a little better, significantly better. Read On
I Want To Buy a Business Opportunity or Franchise
Who are the types of people who buy a business opportunity or small franchise? According to people in... Read on
 
Resource Center > Article
Predicting Sales Success Using the "New" Metrics
22 Oct 12 Posted by: Kathleen C Lanza
in Marketing & Sales
Share this Article:

Business opportunity and other small franchise owners are always looking for new and enlightening information and advice when it comes to sales, and rightly so. One trend in particular they need to be aware of concerns the evolution of the data being used to manage the overall sales cycle and evaluate results more accurately than in the past.

Rick McCord is the Vice President of Worldwide Sales and Services for Domo, a new and yet already award-winning company that is changing the business intelligence industry for good, making it easier for managers and executives to readily access and harness the power of their companies’ data in groundbreaking ways. In recent blog posts for the company’s website, McCord highlights the cutting-edge key performance indicators (KPIs) that are being used by his company to more accurately predict sales success.

Although Domo’s products and services are aimed at larger enterprises as opposed to small businesses, for the time being anyway, McCord asserts that the insights he provides with regard to these "new" metrics can be helpful to virtually any organization that has something to sell. “For sales leaders, the metrics we choose to watch make all the difference,” he writes. Where the old way of doing things wasn’t necessarily wrong, it “didn’t give me (or anyone else) “the deeper insight…needed to accurately predict sales.”

Although quite expansive, today's list of new KPIs contains five that McCord says can be particularly helpful to today’s sales leaders, enabling them to evaluate their processes, failures and accomplishments more effectively than ever before:

1. Pipeline Velocity—Knowing the total of what deals are in the pipeline is no longer enough because all of them are not guaranteed to close. This new metric asks how quickly things are moving through each stage of the sales process and then offers a more reliable predictor of future success.

2. Winning Percentage—The number of deals being worked on is important, but it’s not a good indicator of actual sales. This metric uses average close rates to more accurately predict conversions.

3. Closing Speed—Knowing how many deals closed in a given time period is good, but knowing how long it took to close each one is even better.

4. Acquisition Costs—A great deal is only great when it costs you less to close it than it’s worth. This new metric tracks the true profitability of any deal.

5. New Logos—Predicated on the fact that “all sales are not created equal,” this metric measures “real growth” in terms of net new customers as opposed to closed sales among existing customers.

To learn more about Domo and read McCord’s many blog entries as well as those of his colleagues, click here to access the company’s website now!

 

Related Blog Posts
21 Sep 17 Posted by: Anuj Mishra
in Marketing & Sales

Customer Service - In today’s competitive business world, the availability of customer service is a top priority. This is especially true for online businesses that strive on customer conversions and subscription purchases.

Customer Service - When someone lands on a page searching for a product,...
23 Aug 17 Posted by: Kevin James Culp
in Marketing & Sales

Marketing can pump buyers into your business quickly. There are multiple types of marketing methods, from paid advertising to social media. One of the most efficient is called drip marketing.

Here is a quick guide to drip marketing, an effective way to nurture leads using the power of automation. What...
6 May 17 Posted by: Kevin James Culp
in Marketing & Sales

Getting Started CRM - Customer Relationship Management software, usually called CRM, can keep your customers happy and boost your sales. The right one makes it easy to track who is buying from you and where they are in the sales cycle.

Getting Started
26 Mar 17 Posted by: Anuj Mishra
in Marketing & Sales

6 Principal Rules of Project Management - If you are about to become a project manager and take on this responsibility for the first time, then it is perfectly understandable if you are a bit anxious.

6 Principal Rules - Even though there is a lot of pressure on you, there is still a way to...
15 Mar 17 Posted by: Kevin James Culp
in Marketing & Sales

Sales Success Inspiration - Hello my friends and welcome to another installment of The Special Sauce Series on Sales.

Sales Success Inspiration is the name of the game today.  We left off with the last post "
 
   

I had the pleasure of setting down with Edwin Shoffner, CEO with Mattress by Appointment for BusinessOpportunity.com's very first Podcast that will be released on our new Digital Platform very soon.  Here is the transcript from that call for...
Read More

Video Spotlight

Virtual Financial A Home Business in Financial Services You are going to want to see this Video!

Virtual Financial Group


Premium Sponsor