Improving what you measure will improve what you deliver. Fortunately, we have systems that help us do this really well. We can use CRM dashboards that present data in granular detail in real time in order to shape how we think about the business and focus our priorities. There are a host of reports you can run and present in dashboard form, but the following six report ideas will help improve your sales metrics and reinforce the habits that drive your team toward success.
Sales progress reports
These reports identify key sales metrics that show the progress of individuals and the team as they progress toward quarterly and weekly goals.
1. Individual sales metrics
Create a leaderboard that shows reps’ progress throughout the week. For SDRs, the primary metric presented should be demos set; AEs should show the revenue associated with deals closed. Displaying this report on the team dashboard for everyone to see helps with team accountability and provides general information to make everyone aware of the team’s weekly progress.
2. Forecast attainment
Create a report that shows where the team is as a percentage of the quarterly revenue forecast. As the team updates the CRM with closed / won opportunities, the report should automatically update and display the accurate number on a dashboard for the team to see. This number should be informative and motivating for the sales team because they will see how they are contributing to the overall goal. As a manager, you will always be able to see where the team is at and you’ll be able to quickly provide updates and coaching where necessary.
3. Daily demos held
The key input of pipeline health is demos held. A report that shows the trend of demos held daily is helpful toward understanding how well the funnel is functioning. If the demos held number is trending downward, closed won deals will suffer. Pay close attention to this number to make sure your funnel is being filled with solid opportunities that have a good chance of converting into customers.
It is important to track sales metrics that both contribute to and detract from your ultimate goal. Sales reps are busy and make common mistakes as they switch between various sales activities such as conducting demos, documenting activity within CRM records, and learning about new product features.
Some of these errors can result in material consequences such as stagnant deal cycles, missed follow-up, and lost business. These are a few reports you can generate to help your team catch errors and follow up on previous losses.
4. Closed / lost last quarter
Often, when a sales rep closes an opportunity as lost, they do not revisit that opportunity ever again. By creating a report for your reps that allows them to see which opportunities were lost 90 days ago, reps can be reminded to follow up in order to see if the customer’s decision to not move forward is still accurate. Creating a report like this supports good sales habits and will result in some nice win backs.
5. Aging opportunities
Poor CRM hygiene creates inaccurate pipelines and compromises your ability to forecast. Create a report that expose opportunities that are still in the pipeline but have not progressed through the stages of the sales process within your deal cycle time frame. This is a report that sales reps and managers should revisit weekly to ensure that forecasting is accurate and pipelines are realistic.
6. No next step
Opportunities that are missing a next step status and date have a high likelihood of being overlooked. These opportunity records should be identified and corrected in order to remind the sales rep to act and engage with the prospective customer in order to drive conversion.
Evaluate the report
Sales teams generate a lot of data. The ultimate data point is revenue, but there are many moving parts that need your attention on the way to this key goal. These granular components of the sales process are extremely important. The spotlight on these operational details should be bright and focused at all times.
Managers who pay attention to operational details have an advantage. You will be able to identify problems when they are manageable, before they result in negative outcomes like missed revenue targets. You will also have a pulse on the state of the business so there are minimal unknowns in terms of team performance and deal momentum.
Reporting infrastructure should be adjusted to provide the best picture of the future based on today’s activity. As you build your suite of reports to help you track the metrics that matter, think about how you can extract insights that give you foresight. As the business grows, you may notice that the sales metrics you have been tracking are not helpful. By keeping these reports relevant, you will be able to help your team track toward success.
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