In this digital world, a far greater emphasis is being placed on data and analytics. All this data gives you an idea of how successful (or unsuccessful!) your company is, and gives an indication as to how you can improve. There are many ways to report sales, so it’s important to make sure you’re doing it right. Here are a few do’s and don’ts of sales reporting to help up your game.
What Is Sales Reporting?
Managing your sales team effectively involves more than just assessing the total revenue brought in by each member of the team. Sales reporting gives you good insight into how effective your team is as a whole, and if there are any areas for improvement. Wondering how to report sales? Set up a series of sales dashboards, taking into account the sales strategy, operations and analysis. The best sales reporting formats should show you where you are most successful, identify any areas you need to improve, and give an indication of future performance. Discover our do’s and don’ts for how to report sales.
Do – Report Consistently
However often you decide to report on sales, make sure it’s consistent. Set your team reporting deadlines to submit their data and information – perhaps make sure it’s the last thing they do on a Friday. It’s a great way to review the past week, and plan for the next. Create regular sales dashboards to give your team an idea of where they can improve and increase your team’s overall performance.
Don’t – Be A Time Waster
Take the time to perfect your sales report format. If your team spends all their time suppling data and reading through reports, overall productivity is going to plummet. If you supply daily sales reports, keep them short and sweet, and only include key information. No two days are the same, so don’t get bogged down with the nitty gritty details by comparing individual days. Try to keep all your reports short and to the point too as this will save preparation time.
Do – Identify Opportunities
Ever thought to yourself “how can I increase sales in my business?”. You can use your sales dashboards and reports to identify opportunities or to help your team improve. Make sure you choose a sales report format that includes opportunities. For example, if one member of your team has a ton of prospects in the pipeline but is struggling to convert, maybe get one of your closing champions to talk to some of their prospects. This way, you may stand a better chance of increasing your sales and overall performance.
Don’t – Use Reports Just For Information
Don’t just rely on your sales dashboards to get the information on how your team is performing. You should be using reports to give your team feedback on their performance, so they can constantly improve. Giving advice in your sales reports will make your team members feel valued, and will push them to amp up their overall performance. Be generous with your praise, and maybe even set your team different challenges to try and get the most out of them.
These simple tips should help you get more out of your sales reports, and get the most out of your whole sales team. Looking for more ways to improve your whole sales performance? Find out what sales-i can do to help.