Sales are the most important part of business operations. Without sales, there are no other operations. If you never close a deal you never have to worry about deciding on a network service for business. That is why creating a sales dashboard is so crucial. Sales dashboards give business owners a place to find the information they need at a glance. These sales metrics and performance data help you to make informed business decisions that will help you grow your business. There are some vital sales metrics in particular that should be included in all sales dashboard templates. Find out what they are below.
Obviously, you want to know how your sales pipeline is performing. Pipeline management is one of the most crucial factors for overall sales success. Create a pipeline performance dashboard that includes information on the number of deals open each month and the number of opportunities sourced and closing each month. You should also include data regarding your bookings trajectory versus your bookings goals. These pipeline performance metrics are a must for any effective sales dashboard.
Sales Cycle Duration
You also want to have the average duration of your sales cycle included on your sales performance dashboard. How long does it take for your sales team to close a deal? This information will be helpful to compare the age of each opportunity to the average sales cycle duration. That outcome will allow you to see if sales opportunities are moving through the sales funnel as anticipated. If not, it provides you the opportunity to identify bottlenecks and brainstorm solutions. That is certainly a metric you need when making decisions for your business.
Cumulative sales data is a must-have to determine overall sales performance for your business. That is why this is a must have metric for all types of sales dashboards. Include a place for data regarding cumulative sales for the month, quarter or year, or even all three. This will help you to create a sales performance dashboard that allows you to identify the ebbs and flows within your sales department. If you want to distinguish the slow periods and busy seasons for your business, this is certainly a metric to include when creating a sales dashboard.
Conversions Over Time
Another important element to have in your dashboards is the conversions over time metric. Converting consumers to the next stage of the sales pipeline is absolutely imperative for consistent revenue. Understanding this information allows your sales team to hone in on their most important, productive tasks that drive results. That helps them perform consistently, which provides your business consistent profits. Include the necessary information about sales periods and total conversions for each type of conversion. This is one of those sales metrics that will put your dashboard over the top.
Representative highlights can also be a useful section to have in your sales dashboard, particularly in small business. This section must include metrics for revenue by salesperson. It should show you how much revenue each and every sales professional has generated, whether on a monthly, quarterly or even yearly basis. That information will help you to distinguish employee performance to support employees with low numbers and reward high-performing sales reps. It will also help improve unified communications and collaboration among your sales team if you share this dashboard with them. If you need to keep track of your salespeople (and what manager does not need to do this?), this is a must have metric for your sales dashboard template.
If you are a business owner, creating a sales dashboard is a crucial part of operations. The information on these sales dashboard templates will provide the business intelligence you need to make sound business decisions that will help your business grow and improve. However, that is only true if you include the sales metrics mentioned above. These particular metrics provide the information about sales performance and pipeline performance that you need to identify problem areas in your sales process and create fixes for those issues. Be sure to include these metrics in your sales performance dashboard if you do not want to waste time creating an ineffective one.
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