Running an agency means wearing multiple hats. Whether it be preparing for a pitch, sending out proposals, communicating with clients, USA Phone Number reporting to Management, or simply keeping your employees satisfied—all those activities are just what’s visible on the outside. While managing all of the above, you need to constantly pay attention to keeping your agency in the black. Because workflows may vary, USA Phone Number but in the end, what matters most is constantly increasing profitability. How will you do that? In short, you need to keep a close eye on the metrics that keep your agency profitable. But knowing whether or not your agency is profitable isn’t something you’ll feel in your gut. Profitability is based on actual numbers and many different factors will influence those numbers.
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Below, USA Phone Number we’ve chosen and covered the seven key performance indicators that you can monitor in Productive. We believe these KPIs are essential to watch to keep your agency profitable. KPI #1: Number of Pre-qualified Leads In Your Sales Funnel We’re sure you have a system of attracting new leads and converting them into clients. The question here, though, is: how do you measure your number of pre-qualified leads? Knowing that number gives you a starting point for predicting where your sales will be in the next quarter. The key here is to focus on qualified leads. KPI #2: Number of Sent Proposals Now that the leads are in your sales pipeline, USA Phone Number you want to close them as quickly as you can. The next step in your sales process is sending out proposals. Many agencies face the challenge of proposals sitting in their funnel for over a month, sometimes even a few—without getting any closer to closing the deal. This is something that you have to focus on and dig into the reports.
Below We’ve Chosen and Covered the Seven USA Phone Number
Maybe the leads in your funnel aren’t qualified to become new business? Perhaps your sales team needs a different approach in following up on them? Whatever the method, you should look at your number of pre-qualified leads USA Phone Number and number of sent proposals together. KPI #3: Value of Your Sales Funnel The value of your sales funnel will help you forecast the near future for your agency’s resource planning, utilization, revenue and profit. But none of that forecasting matters if you aren’t closing those deals. Ideally, you’ll need both USA Phone Number a high close rate and a high value of your sales funnel. Still, out of the two, having a higher close rate is more important.