We are excited to announce a new version of our Average Selling Price Card. This card combines the average bookings value on New Business and Existing Business opportunities in one card!
You may be familiar with the Average Selling Price - New Business and Average Selling Price - Existing Business cards in Atrium which help you measure the average bookings value of close won deals for new business and existing business opps respectively. We heard from customers that you would like to see these two cards combined into one so you can measure the total ASP value for your team. We have just released an Average Selling Price Card that shows the average bookings value of ALL closed won opportunities in the given time period, regardless of opp type.
How Should You Use This Card?
If you've been using the existing ASP cards, but your team closes both New and Existing Business deals and have been wanting to measure the combined performance for your team, this is the card for you! If you need some tips on how to incorporate the Average Selling Price cards into your flow, here are some common use cases:
- Average Selling Price is a variable in the Bookings Formula (Bookings = Opps * Win Rate * ASP / Deal Cycle) and gives a measure of a rep's selling quality. It is an important metric to use to evaluate for performance for your team or reps.
- Teams should track changes in ASP over time for teams and reps - especially as your organization makes changes to pricing or market strategy, like entering new verticals or new market segments (ENT, SMB, etc).
- Add this card to Forecasting Dashboards and Alert Feeds to use your team's historic ASP and current open opps and historic win rates to understand future bookings.
- Use the Opp Type filters on the Average Selling Price card to evaluate the ASP for your Opp Types (ie product specific or certain expansion type deal cycles. You can use this in conjunction with the Opps Owned card for a more granular view into Rep Performance and to use in Forecasting and Planning.
- Set Goals on this card to set a benchmark for the deal size you expect your team to be delivering in order to reach their quota. You can use filters in goals to make more specific targets, for example, set a goal for Average Selling Price for a specific type of Expansion opp type.