In order to stay competitive in today’s market, pump and fluid handling equipment manufacturers have to pay attention to two different sets of metrics:
Being transparent about product-related metrics is critical to building trust with customers, and helping them achieve greater success. However, the more performance data you offer customers, the more complicated your sales process will become.
Which metrics should fluid handling equipment manufacturers bother tracking? Here are the six highest priority measurements:
This measures the speed at which fluid moves through a pipe system. Fluid handling equipment is designed to manage a wide range of flow rates, so this metric helps match the customers’ conditions of service with the right product.
This measures how effectively the centrifugal pump is able to convert mechanical energy into pressure, flow, and other hydraulic energies. This KPI is critical in both the product selector and configuration stages of a sale so customers don’t overpay for a pump that generates more pressure than necessary.
This KPI measures the average value of each lead. Tracking this can help sales understand how effective their cross-selling and upselling strategies are. If AQV increases during a particular campaign, that signals that a certain product bundle or outreach strategy is more effective than others, and should be duplicated where possible for higher annual revenue.
This sales KPI tracks how many leads actually request a full quote. The metric is useful for breaking down and identifying inefficient sales processes that create the most risk. For example, if leads needing a specific type of pump have a low POOQ, it could indicate inefficiencies with the configuration process that result in them turning to another vendor for help.
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