It’s the general nature of customers to be discriminating in their purchases. After all, they’re parting with their money but they do so for two reasons as confirmed by statistics – 70% of people make purchases to solve problems while 30% make purchases to gain something. Salespeople probably already know and exploit this. However, the fact remains that sales is not easy sailing. A measly 2% of initial sales meetings end up with on-the-spot customer purchase, leaving 98% as leads that need to be nurtured and followed up. Add to this the finding that 44% of salespeople give up after one follow up (when 80% of sales require five follow ups), then you’ve got a situation in your hands.
The normal remedy for you as the sales manager is to prep up and instill some discipline on your team during the regular sales meeting. But you need something to drive home the point to your people that single digit sales and performance figures simply will not cut it. You need a sales report to back you up and let everybody realize what and how they’ve been doing. Every business requires a system of sales reporting to get a view of what’s happening and to remedy any pitfalls or down slides. Businesses will eventually expand its sales teams and grow its sales pipeline and this is where reports become integral elements in your entire sales process. You need something in the level of Pipedrive’s sales reporting feature.
Undertaken the proper way, sales reports allows you to quickly examine individual and team performance, identify issues, make decisions, and take actions to help your business sell better and faster. Furthermore, good reports become vital sources of insights and relevant information that can be used for other purposes such as resource allocation, budgeting, and income or revenue forecasting.
You have many responsibilities as sales manager, foremost of which is to ensure your company’s profitability and keeping tabs of factors and people contributing to its progress (or decline). This is where sales reports become handy tools, enabling you to look into insights and analyze data at every stage of the sales process. You will be able to, among others, predict success points along the way, determine areas for improvement, pinpoint who your performers are, how many activities it takes to close a deal, how long a deal is (or should be) in the sales pipeline, and bottlenecks that hold up deals. The point is that with sales reports you not only get sales figures but also ascertain the factors responsible for those figures so that you can maintain or improve them.
Pipedrive is a highly-ranked and multi-awarded CRM and sales pipeline management software. Among its many robust features is it’s simple but effective Sales Reporting which comes hand in hand with the Statistics functionality. The latter provides you critical metrics so you can follow the performance of individual agents, the value of each separate deal, or the history of every lead. It also allows for vital comparisons such as between closed and lost deals.
Understanding the reasons behind your data and results is provided by the sales reporting feature. You get to know why one team member outperforms another, or whether you are on course to reach your annual target, or if you need to make decisive adjustments to your sales process. Pipedrive discovers them all for you and, to mention some of its reporting capabilities, lets you track and test your sales process, helps you understand your pipeline metrics, and shows you sales split by product. The last one is especially useful if you sell multiple products or services, where you can see key sales figures split by your products or services such as sales volume and value, average discount and time in pipeline. You can learn more on how Pipedrive manages your sales pipeline in our other article.
Sales insights and information can be presented through visual reports like compact tables and charts for greater clarity on your team’s performance. You can utilize Pipedrive’s reporting to compare individual results, identify opportunities for improvement, and comprehending statistics such as conversion rates. The platform can store all reports and information in a centralized database, from where you can export it to other systems, or use your own app to pull out detailed summaries. You can also follow sales and lead status on the Live Dashboard to see your wins, loses, people, and activities, or customize a special report that displays all aspects of your sales performance and lead management.
All in all, you will have a clearer idea of where to focus your sales team’s efforts aside from giving your salespeople visibility into where they stand in relation to everyone else. This promotes competitive performance and individual accountability across your team.
A good sales report becomes your basis for intelligent and actionable decisions. Reports provide you metrics which are quantifiable indicators that tell you how each aspect of your sales operations is doing and if you are realizing your targets. Reports make you aware of where your strengths and weaknesses are so you can act on them. It comes down to the needs of your business to grow, and measuring factors and areas that can push your leads forward to close sales.
Pipedrive’s sales reporting capability allows you to consistently track and visualize your data, giving you a real-time view of your sales activities. It gives you a clear picture of how your team is performing, compare performance results, and spot issues that need attending to. More often than not, salespeople see where they are deficient statistically but do not know how to improve those figures because they don’t have an idea of what exactly is causing the issue. Sales reports can clear matters and eliminate the guesswork, and put you in the position to guide your salespeople on what to do, what direction to take, and what issues to tackle. This is how you drive your sales, and your business forward.
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