This guide contains all the SaaS sales metrics and benchmarks to measure against for your sales outreach efforts. With this information, you can determine where your bottleneck lies so you can make the adjustments required for booking more sales meetings.
Measure Your SaaS Sales Metrics Against These Standard Benchmarks
Cold-Calling Metrics to Look Out For
- Dials: The number of dials you make in a day.
Are you making enough dials to get the results you’re looking for? We recommend about 50 dials a day. Making any less than 50 dials a day just isn’t enough to generate results.
- Pick-ups: The number of people who pick up the phone.
The industry average for pick-up rates is 6%. So if you are achieving 6-7% or more, you’re doing better than you think! This confirms that you have a good lead list
- Conversations: The number of times you enter into a conversation with somebody after making your introduction.
A typical benchmark for the number of conversations you should aim to achieve is 50% of your pickups. By achieving this number, what this tells you is that you’re speaking to the right people and your introduction in your cold calling script is working.
- Meetings booked: The number of conversations that convert into a booked meeting.
The typical benchmark for conversions to meetings is between 30-33% of your conversations. If you aren’t meeting this number, it may mean your ability to close the presentation part of the script, the value delivered through the conversation, the objection handling and/or your tonality needs improvement.
LinkedIn Metrics You Should Be Keeping Track Of
- Reach-outs: The number of people you send a connection invite to on LinkedIn.
We suggest sending 20 connection invite requests per day, considering LinkedIn has an invite limit of 100 per week. To ensure you’re playing within their rules and avoid getting flagged, make sure you don’t exceed the 100/week limit. Try out some of our provenly successful connection invite messages here.
- Connect rate: The percentage of people that accept your connection invite out of the number of people you reached out to.
For your connection rate, you should be aiming for an absolute minimum of 20%. If your connection rate is not up to par, it’s time to examine your invite message, your targeting, and even your LinkedIn profile to find the cause of this fault. It is important to set up your LinkedIn profile in a professional manner so people want to connect with you after viewing it. Sometimes people won’t connect if you have a low number of connections or common connections.
- Response rate: The percentage of people who respond to you after accepting your connection request.
Our recommended benchmark is that 50% of the people connecting with you should also be responding to you. If you’re meeting this number, it means that people are opening your messages, reading it and it’s good enough to at least get a response – even if the response is negative.
- Meetings booked: The percentage of meetings booked after people respond to your outreach.
The benchmark for this metric is 12.5% of the people who respond to your outreach. Meeting this goal confirms that your message is effective and relevant and that people want to talk to you.
Reminder: LinkedIn restricts its users to send a maximum of 100 invites per week, so make sure to stay within that limit.
Email Measurements & Benchmarks You Should Be Considering
- Emails sent: The number of people you reach out to by email.
We suggest keeping the maximum number of outreach emails to 150 per day after warming up your email. Staying within this limits allows you to perform your email campaigns while avoiding being flagged as a spammer.
- Open rate: The percentage of emails opened by the receivers.
The recommended email open rate is a minimum of 40%. Any lower open rate either means your emailing list is not good or there’s an issue with the deliverability. If you find you have a deliverability issue, you’ll have to go into your DNS settings which you can find more information about here. Make sure your emails aren’t going to spam and aim to achieve a minimum of a 40% open rate.
Your open rate will be influenced by the effectiveness of your subject line and the first line of your email. To ensure you get good results, make sure these are relevant.
- Response rate: The percentage of people who respond to your outreach.
Aim to achieve an average of 10% in response rate, out of the number of people you reach out to. If you find your bottleneck in this area, review your messaging and ensure that it is relevant. Your response rate shows you whether your message is something people think is worth their time to read and respond to.
- Meetings booked: The percentage of meetings booked from your email outreach.
The benchmarks for this metric vary depending on your industry and target market. Some industries are easier to book meetings than others.
It’s always good to know what benchmarks you should be measuring your outreach efforts against. Knowing whether you’re hitting the target or short of achieving it will tell you if your lead generation tactics are working, or where the issue may be present. When you discover the bottleneck in your process, you can then re-examine your technique and try different ways to reach your target outcome.
In our next article, we will cover the sales metrics to measure for in-the-funnel. With a dedicated Account Manager when you outsource your sales team, we will measure all lead generation metrics for you and strategize for improvements for your campaigns weekly. If you’d like to leave your lead generation up to a team of specialized professionals, let’s talk about it.