Essential Sales Reports Every Sales Leader Needs to Have

Knowledge is power.

And as a sales leader, you already know this. Your sales reps’ deep knowledge of how prospects can leverage your product and their ability to craft a customized plan to help prospects achieve their goals are the only reasons prospects need reps in the first place.
But knowledge of just your product isn’t enough for your team to be successful. You need to understand the factors affecting your team’s performance as well, so you can tweak your sales process or make up gaps in knowledge as needed.
To collect all the data you need, try HubSpot’s free CRM software today.

The first step to gaining a deep understanding of performance is having the right data. Yet according to State of Inbound Sales 2015, a whopping 46% of salespeople don’t use any dedicated technology to track lead and customer data.

Without even basic information on contacts, sales leaders can’t hope to analyze their team’s performance or identify areas for improvement. Below are the six essential reports every sales leader needs.

6 Sales Reports All Sales Leaders Should Be Tracking

1) Pipeline

A complete and accurate pipeline is a must-have. Without one, there’s simply no way to assess the health of the business at any given time. As a sales leader, you need to know exactly which deals are sure things, which might push, which you could lose altogether, and how much of an impact each deal has on your bottom line.

Of course, accurate forecasting is directly linked to thorough sales qualification. Make sure your reps are doing their due diligence to guarantee a realistic pipeline.

2) Company-wide sales benchmarks

Another way to assess how much stock to put in your reps’ forecasts is by understanding typical conversion rates between each step of your sales process, average deal size, and average sales cycle length.

For example, maybe one of your account executives has had a first exploratory call with 17 buyers and swears that they’ll all close this month. If you know that companywide, only 60% of prospects move past this phase and that your average cycle is 40 days from exploratory call to close, you can sandbag his estimates a bit.

You can also slice and dice this data by lead source and deal type. Do inbound leads close at a higher rate than referrals? How does your team fare in competitive situations? Does one vertical or industry outspend all others, even if you haven’t been specifically targeting it? This report will provide the answers to those questions.

 

 

 

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