The Sales Performance report contains estimates of your pipeline’s total and expected value. You can use this report to see how well your sales representatives are doing. You can track results and enhance your sales strategy this way.   

A Sales Dashboard allows you to display your sales data, which is useful for making quick decisions, analyzing, and sales performance reporting. With the advancement of technology, data-driven sales teams require dynamic and intuitive dashboards. 

A dashboard enables a company to be completely aware of key indicators and performance benchmarks. To improve sales performance, a measure or KPI (Key Performance Indicator) is used to track the efficacy of certain sales operations.

What are Sales Dashboards?

Sales dashboards distill down complex data into comprehensible portions that may be used to gain actionable insights about your company. A sales dashboard’s job is to collect the most useful data from your CRM (Customer Relationship Management) system and show it in a more user-friendly style.

Sales dashboards are a way to get a bird’s eye view of your sales performance reporting. They aid in the measurement of key performance indicators, individual team members, and sales activities.

Understanding the particular goals you’re aiming to achieve is the most difficult part of creating a sales dashboard. To achieve maximal efficiency, one can begin by selecting the critical parameters to monitor.

Decide What Information You Require on Your Sales Dashboard

Consider the following questions to determine what information should be included in your dashboard.

• Which data points and metrics appear in your reports the most?
• Are there certain KPIs that are regularly evaluated or perceived as more essential than others in sales team meetings and one-on-one salesperson reviews?
• What metrics have you chosen as your key performance indicators (KPIs)?
• Do you have separate sales teams for inside sales and field sales, for example?

Start building your own dashboard while you complete your research and look at examples. It’s essential to ensure your dashboard has actionable metrics. Some data points will be clear, and you will be aware of which sales indicators should be included in your own sales dashboard.

Dashboards are most useful when they provide an overview while also ensuring that you are aware of the intricacies. A number of big-picture metrics must be juggled by salespeople and sales managers, including:

• Forecasts
• Individual salesperson performance
• Pipeline performance
• Product performance
• Your company’s competition

With this in mind, the ideal sales dashboard should have some mix of the following KPIs

Leads  by Source

Gain a better grasp of your consumers’ motivations.  This data allows you to prioritize which leads to contact first and concentrate on the most profitable sources. It also allows you to determine whether you need to diversify your lead sources so that you aren’t just relying on one or two.

Open activities (calls, demos, visits)

Consider these items to be your to-do list. The tasks you must complete in order to stay proactive in your sales efforts are known as open activities. Open activities are beneficial, but if you have too many, review your schedule to see where your time could be better spent.

Open Cases

Cases are opened whenever a customer initiates contact. These activities, as well as open ones, should be viewed as time-sensitive. Take care to close these cases as soon as possible, as this could improve customer retention.

Open Opportunities

These are your bread and butter opportunities, and they affect your win/loss ratio. This can be used to keep track of your leads and delegate them when you have too many. When you wish to increase the number of available positions you have, it’s time to expand your pipeline.

Closed Opportunities

See how much money your sales have brought in. This measure is especially useful if your sales quota is based on revenue, and it could assist you oversee your commission goals.

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Sales Cycle

It is the average time it takes a salesperson or your team to close a deal, measured in days. You can determine if your current opportunities are going through the funnel as expected by comparing this average to the age of each opportunity.

Pipeline

Check to see where each open opportunity is in the process and how close it is to being finalized. Use this data to personalize your conversations based on where leads are in the buying process and when to instruct vs. pitch.

New Business and Upsell Ratio

Selling to existing customers is easier and more cost-effective than selling to new customers. You must balance new business with upsells as a salesperson. This metric ensures that you stay on track.

Win/Loss Rate

As a salesperson, one of your most basic metrics is the percentage of opportunities proposed/quoted that you won. The need for research is indicated by lower-than-average win rates: Are your leads getting stuck at the same spot in your funnel? When speaking about lukewarm leads, your pitch should be tweaked, or your handoff from a marketing-qualified lead (MQL) to a sales-qualified lead (SQL) should be examined. Find out what percentage is considered acceptable in your business, then work to meet it on a regular basis with the goal of raising the standard.

Sale by Closed Date

A deal’s timing is equally as essential, if not more, than its value: Sales representatives have quarterly and monthly goals, sales VPs are held to company-wide revenue objectives, and CEOs anticipate ‘hockey stick’ growth as fast as possible.” Closed dates help in forecasting and spotting trends and determining how long it takes most customers to convert.

Conclusion 

Sales dashboards are an essential part of sales performance reporting. It’s difficult to maintain track of your sales growth and enhance your sales efforts without a sales dashboard. 

Keeping an eye on the metrics listed above is beneficial to most salespeople. However, the key to a successful sales dashboard is to examine your reports, personal sales goals, and what your organisation requires of you in order to identify which metrics are most crucial for your current requirements.