Whatever information you decide to include in your team’s introduction to sales reporting, it’s important to never lose sight of the big picture. The sales cycle never really ends, and it’s up to the team leader to continually fine-tune it to deliver the maximum results. If your sales reporting strategy is closely aligned with your overall business growth strategy, you’re probably on the right track.
You will also be on the right track if your sales reporting includes a good balance of input measures and output measures. Input measures are things that sales reps can control, for example number of cold calls, follow-ups to enquiries, meetings with prospects, industry events attended etc. Because these are areas in which sales reps can exercise some control, they present the opportunity for improvement through extra coaching and training.
Output measures are the results of sales activities, eg number of sales, new prospects in the pipeline, profitability of recent deals, customer attrition and so on. These are critical areas to measure against targets but are less useful in providing a road map for individual performance improvement.
Once you have developed your sales reporting strategy and have applied it in the right way, you will certainly see, before too long, improved sales results. The insights you gain, and the actions you take in response to them, will help set your business up for long-term success. Read the Previous Blog.