Traditional metrics are important, as long as they’re considered within the context of what’s happened to our industry and how it’s likely to be forever changed, not only by this economy but by new technologies that are emerging with lightning speed.

 

Nonetheless, here are the key indicators of any sales data report that you should review: 1Sales vs. Last Year: You’re right on target. But don’t just use last year’s data as a comparison — use previous years as well. 2Condition of the Pipeline: Pipelines are right up there with No. 1. How much revenue and net square footage? How many companies?

 

How does the condition of the pipeline compare to the past? And are prospects converting on a consistent basis? Is the churn being replaced by new opportunities? Pipelines should always be fat. If they’re not, have a sit down with your marketing and sales departments and find out why.

 

3Nonselects:

How many of your exhibitors who have not re-signed from last year are still outstanding? How does this compare? If it’s drastically higher than usual, it’s very telling. 4Forecasts: On a weekly basis, I’m furnished with a forecast of where we’ll finish for our show. I always compare that forecast to previous years and look for trends or red flags.

 

5Collections:

Is the percentage collected on par with past years, or are you deeply behind? 6Shoe Leather: There’s no better barometer of what’s going on out there than to hit the streets and sit down face to face with your customers, and simply ask how they’re doing, what they’re hearing and what keeps them up at night.

 

And if you can’t get in front of them, at least call them. Here’s the bottom line: Inspect what you expect. Ingest the data and involve your entire organization in your conclusions and your plans to address your concerns. Inspect what you expect, and expect excellence. Dan Cole is Vice President of Sales and Business Development for the Consumer Electronics Association, which draws more than 3,000 exhibitors to its largest annual show, the International Consumer Electronics Show. Cole is a regular speaker on sales-related topics at industry events. In 2005, the International Business Awards named him Best Sales Executive. He can be reached at dcole@ce.org.