How do you ensure that sales reps are ready for each and every buyer interaction?
This blog post was originally published by Rekener, now a Brainshark company.
Stage to stage duration measures the average amount of time it takes for opportunities or deals to move from one stage to the next. For example, if a rep had had 100 opportunities that moved from Stage 1 to Stage 2 in the sales process, and the total number of days between Stage 1 and 2 (if you added them all up) was 1,000 days, then the Stage 1 to Stage 2 Duration would be 1,000 days / 100 opps = 10 days.
To measure Stage to Stage Duration with Salesforce data,
you need to use both Opportunity and Opportunity History data. For each Opportunity, you want to determine the date that the opp made it to each stage. This will be indicated by an Opportunity History record existing in the stage in question. You want to use the Created Date of the first Opportunity History record that is in that stage. Meaning, if you are tracking the date an opp moved to Stage 2, then you would look at the earliest created date of any Opportunity History record in Stage 2 for that opp. You also need to track how many opps have made it to each stage.
To calculate the average Stage Duration, you need to subtract the Stage 1 Date from the Stage 2 Date for each opp that made it to Stage 2. Then, you need to sum up that total number of days. Then, divide the total number of days, by the number of opportunities that made it to Stage 2.
To measure Stage to Stage Duration with HubSpot CRM data,
you need to use data from the Deal object with DealStage History data. For each Deal, you want to determine the date that the deal made it to each stage, which will be indicated in the DealStage History.
To calculate the average Stage Duration, you need to subtract the Stage 1 Date from the Stage 2 Date for each deal that made it to Stage 2. Then, you need to sum up that total number of days. Then, divide the total number of days, by the number of deals that made it to Stage 2.
Rekener can calculate Stage to Stage Duration automatically,
and can measure it by sales rep, by account, or any other breakdown. Check out our Sales Rep Scorecard app to see how you can track Stage Duration by sales rep automatically. With scorecards, you can calculate the duration from stage to stage for all of your stages, as well as duration from each stage to close for all your stages.
Looking for more sales metrics know-how? Our comprehensive Sales Metrics Glossary will show you how to calculate 30 critical KPIs using CRM data.