We are excited to announce our newest card - the Average Sales Cycle Card! The Average Sales Cycle card measures the average number of days from an opportunity's creation to Closed Won in order to measure how long it takes to close a deal.
The Average Sales Cycle card measures the average number of days from an opportunity's creation to Closed Won in order to measure how long it takes to close a deal.
This card will default to show you New Business opportunities to help teams focus on the sales cycle for new business acquisition.
Why It's Important
Average Sales Cycle is a key input in the Revenue Formula, as it measures how long it takes a team or reps to win a deal. When assessing team and rep performance, average sales cycle is an important metric to investigate either sales velocity issues or outperformance.
How Do I Use It?
You should use this card in Dashboards & Alert Feeds you use to measure team and rep performance along with our other Revenue Formula Metrics (Bookings = Opps Owned * Win Rate * ASP / Sales Cycle) to understand performance issues or successes.
Average Sales Cycle should be tracked as it changes over time - especially as your sales process changes. For example, if you move into new verticals, change pricing, or move up market, its important to inspect how these changes affect how long it takes for deals to close.
Average Sales Cycle can also be used in your Forecasting and Planning Saved Views as historical deal cycles crossed with current open opps can help accurately plan potential future bookings.
Use Data Filters on the Average Sales Cycle card to inspect particular types of opps or accounts to better understand more specific cases like different Account Types, Opp Types, or Verticals.
Examples of how to use this in practice:
Diagnose where individual reps have longer sales cycles for coaching.
Track changes sales cycle for your team over time: