How To Calculate Magic Number in Mondays Sales CRM | Arithmix
Learn how to calculate the magic number in Monday Sales CRM with our step-by-step guide. Maximize your sales potential and improve your CRM strategy today.
Are you looking to improve your sales performance? One key metric that can help you do just that is the magic number. In this article, we'll explain what the magic number is and why it's valuable to calculate it. We'll also provide you with step-by-step instructions on how to calculate the magic number in Mondays Sales CRM.
What Is Magic Number?
The magic number is a metric that helps you understand how much revenue you can expect to generate from each salesperson on your team. It's calculated by dividing your monthly recurring revenue (MRR) by the number of salespeople on your team. The resulting number is the amount of revenue each salesperson needs to generate to meet your monthly revenue goals.
For example, if your MRR is $100,000 and you have 10 salespeople on your team, your magic number would be $10,000. This means that each salesperson needs to generate $10,000 in revenue each month to meet your revenue goals.
When Is It Valuable To Calculate Magic Number?
Calculating the magic number is valuable for several reasons. First, it helps you set realistic revenue goals for your team. By understanding how much revenue each salesperson needs to generate, you can set individual targets that are achievable and aligned with your overall revenue goals.
Second, the magic number can help you identify areas where you need to improve your sales performance. If your sales team is consistently falling short of the magic number, it may be an indication that you need to invest in additional training or resources to help them close more deals.
Finally, the magic number can help you make informed decisions about hiring new salespeople. If your team is consistently hitting or exceeding the magic number, it may be time to consider expanding your team to take advantage of the additional revenue opportunities.
How to Calculate Magic Number in Mondays Sales CRM
Calculating the magic number in Mondays Sales CRM is a straightforward process. Here are the steps:
- Log in to your Mondays Sales CRM account.
- Click on the "Reports" tab in the top navigation menu.
- Select "Monthly Recurring Revenue" from the list of available reports.
- Enter the date range for the report and click "Run Report."
- Divide the total MRR by the number of salespeople on your team to calculate the magic number.
Once you have calculated the magic number, you can use it to set individual sales targets for your team, identify areas for improvement, and make informed decisions about hiring new salespeople.
In conclusion, the magic number is a valuable metric that can help you improve your sales performance and achieve your revenue goals. By understanding what it is and how to calculate it in Mondays Sales CRM, you can take your sales strategy to the next level and drive more revenue for your business.
How Do You Calculate Magic Number in Mondays Sales CRM
Mondays Sales CRM itself isn’t naturally geared towards letting you calculate complex metrics like Magic Number. As an alternative, teams typically use products like Arithmix to import data from Mondays Sales CRM and build out dashboards.
What is Arithmix?
Arithmix is the next generation spreadsheet - a collaborative, web-based platform for working with numbers that’s powerful yet easy to use. With Arithmix you can import data from systems like Mondays Sales CRM, combine it with data from other systems, and create calculations like Magic Number.
In Arithmix, data is organized into Tables and referenced by name, not by cell location like a spreadsheet, simplifying calculation creation. Data and calculations can be shared with others and re-used like building blocks, vastly streamlining analysis, model building, and reporting in a highly scalable and easy to maintain platform. Data can be edited, categorized (by dimensions) and freely pivoted. Calculations are automatically copied across a dimension - eliminating copy and paste of formulas.
Arithmix is fully collaborative, giving your entire team access to your numbers and the ability to work together seamlessly.
Calculating Magic Number in Arithmix
Calculating metrics like Magic Number is simple in Arithmix. Once you've created your free account, you’ll be able to import your Mondays Sales CRM data, and use it to create natural language formulas for metrics like Magic Number.
Arithmix is designed to give you the power to build any calculations you want on top of your Mondays Sales CRM data, while also being easy to use and collaborate on. You can share your dashboards with users inside and outside of your organisation, making it easy to empower your whole team.Use Arithmix free