Right after starting sales in the Japanese market, there can be so many numbers to track that it is hard to know what to look at. At first, it helps to narrow down to a few indicators and understand the state of sales activity.
- There are many sales numbers and it is unclear which to prioritize
- Only revenue is being watched, so the progress of sales activity along the way is unclear
- The numbers headquarters wants and the numbers that can be tracked in Japan do not match
- Deal progress is managed in a different way by each salesperson
This article explains which numbers to track first in sales activity in the Japan market.
Why Narrow Down the Numbers at First
In the launch phase, it takes time before revenue appears. Watching only revenue does not show whether sales activity is progressing smoothly or stalling along the way.
Too many numbers increase the effort of tallying and make it hard to turn them into improvements. It is important to choose a few indicators along the sales flow.
Indicators Along the Sales Flow
Divide the sales flow into stages and decide which indicators to check at each.
| Stage | Examples of Numbers to Track |
|---|---|
| Acquiring prospects | Number of new inquiries, companies contacted, and leads from referrals or exhibitions |
| Converting to meetings | Number and share of contacts that led to a first meeting |
| Proposal and quotation | Number of proposals and quotations submitted, and their value |
| Closing | Number and value of deals closed, win rate, and time from meeting to close |
| Continuation and expansion | Additional orders from existing customers and how they continue |
How to Read and Share the Numbers
Look at the numbers not only as absolute values but also as ratios between stages and trends over time. Knowing at which stage deals tend to stall makes it easier to set priorities for improvement.
Align the definitions of the numbers reported to headquarters and those tracked day to day in Japan. Because time to close tends to be long in the Japanese market, explaining this to headquarters makes it easier for them to read the numbers.
Summary
- In the launch phase, capture the progress of sales activity in numbers as well as revenue
- Set indicators for each stage: acquiring prospects, meetings, proposals, closing, and continuation
- Watch ratios between stages and trends over time to find where deals tend to stall
- Align the definitions of numbers with headquarters and explain the characteristics of the Japanese market
Contact
JBN supports foreign companies' sales activity in Japan, from designing indicators through to building the sales organization.
To discuss designing your sales metrics, please contact us.