It’s simple – The answer is data. Loads of it.
Data helps decide direction and making the right reports helps you use this data to track your activities better and smarter. It helps find the detour the moment it happens. Jamie and millions of sales leads across the globe can be on top of their game and twenty leagues ahead of competition, if they follow the following steps in this order.
2. Record the data on that hustle
3. Track the data via smart reports and always KNOW.
Assuming you Hustle and are already onto your data, let’s have a look at some sales reports that need to be monitored daily by sales managers to keep them on the top of their game.
As a best practice, I’d suggest you have a clear process mapped out with each deal stage defined. Corresponding to each deal stage have a report which tracks the metrics around that stage for maximum productivity. If you’re one of the smart ones who has already invested in sales automation then congratulations ! You’re already many steps ahead in the game.
The Sales Reports
1. Pipeline per salesperson:
This very simple but essential report needs to have the pipeline chalked out for each sales person detailed for the number of people in the monthly sales pipeline. For eg. you have six salespeople in your team, how many people are in the pipeline for each of these six, whats the probability, type etc.
2. Opportunity-to-win Ratio:
This is a very important sales report that tells you how many wins did your sales team get after bringing the prospects to the opportunity stage. In simpler terms – the number of closed opportunities that you won. Sales managers need to assess the opportunity-to-win ratio to make sure it’s not declining, and to make sure the sales team is capturing all those essential deals for the company!
3. Lead Response Time:
When it comes to sales, speed is the prime factor that can help you increase your odds of success. Sales managers need to check the lead response time of their firm and look at how quickly their sales team, on average, responds. This time needs to be minimised so as to keep your prospects interested and close the deal –making it a win-win situation for both parties!
4. Daily sales report :
Whatever way you’d like to collect it is your call depending upon what kind of business you run. For eg if you’re a SaaS company or a super cool Gym, the number of reach-outs you make daily matters whereas if you’re selling oil and Gas or a law firm – You should be hustling with monthly targets in mind and not daily. But always know your revenues to the smallest unit you can break them into to figure out any fluctuations in trends.
5. Leads per Source:
This is a wonderful report to track and maintain because it tells you how many leads you’re generating per source and where you should focus most- are your leads coming in from social media, events, cold calling, Influencers etc. For eg If LinkedIn is bring in most leads then it should mean more digital marketing budgets would be good for you on LinkedIn.
6. Rate of Contact or No of demos:
If there is one performance metric that can give a sales manager a good view of sales activity – it’s definitely rate of contact. Every effective sales team wants to make sure that the outbound call volume is high and the rate of contact lets a manager know how many opportunities are being generated on the basis of outbound calls or how many demos is the sales executive giving. So, keep a keen eye on your call logs and make sure they are impactful enough to work the pitch and keep your sales funnel oiled!
7. Social Media Usage:
It’s the age of social media and every sales manager needs to check out social analytics reports to get to know how customers are responding to your sales pitch on social media sites. It’s important to understand that there is a direct correlation between sales representatives that are social media enthusiasts and revenue as a corresponding result through the channel. So go ahead and leverage the power of social media sales reports to gain a competitive edge!
8. Clicks from Sales Follow-Up Emails:
It’s important for sales managers to track the rate of success on sales follow-up emails. They need to be engaging, get prospects hooked on and grab their attention enough to propel them into action. If your follow-up mails are ending up in the spam, then steps have to be taken to realign them towards marketing success.
I guess these sales reports will keep any manager armed with a great snapshot of their sales activity! Make sure to check these leading indicators to keep your sales numbers at an all-time high!
Also, if you’re a sales manager looking to triple your teams productivity and are wondering how, sign up for a 14 day free trial of a CRM software. Experiment for yourself on how automation takes your business development to a whole new level. Sign up on Alore CRM or any other that you want to but give CRMs a try.
P.S. If you’re gonna be trying Alore, then install the chrome extension and see the magic unfold when your sales and marketing needs streamline into a single place and you can manage and track your team in real time !!