Strategic KPI’s for Manufacturing Growth - Sales and Marketing
There are thousands of facets of your manufacturing business that can be monitored and adjusted to drive improvement and grow success. It can be overwhelming to keep track of every metric - work smarter by focusing on the crucial components that will grow your business strategically.
In this 4 part series of blog posts we will be highlighting the Key Performance Indicators that successful manufacturers use to grow their business strategically. Next is Sales and Marketing.
Sales & Marketing KPI’s for Manufacturers
Estimates/Quotes:
Your sales pipeline is a leading indicator of future revenue and manufacturing demand. Companies that experience lower estimate conversion rates or reduced quote volume will inevitably see revenue drop and decreased manufacturing demand in future periods. Monitor estimate and quote levels and conversions for better revenue forecasts.
Marketing Leads:
Manufacturing sales can be a lengthy process. It is vital to maintain and grow a pipeline of leads through various marketing activities. Measurement of lead volume, marketing activities, and conversion rates are leading indicators of future sales.
Customer Metrics:
Manufacturers should monitor several metrics related to customers. These include total customer lifetime value, customer retention (or churn), customer acquisition costs, and customer growth in customer revenue and number of accounts.
Acumatica ERP’s Manufacturing Solution is fully integrated with distribution, accounting and CRM putting all your KPI’s at your fingertips with anywhere anytime access.
Take a deeper dive…
Dive into Acumatica’s eBook Manufacturing Metrics That Really Matter for more information about strategic manufacturing KPI’s and metrics.
Implement Acumatica ERP with Hudson River Computing to optimize your business operations and grow your success.
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