Podcast: Play in new window | Download (Duration: 23:24 — 21.5MB)
Subscribe: RSS
Sales Reporting
Sales reporting serves an important roll in business. The goal of this podcast is to help you take a look at your sales reporting process. This is the first of two podcast about sales reporting. To take a look at your sales reporting process we will talk about:
- Produce sales reports
- The sales metric you use
- How you use the information
Sales reporting, it has to serve the needs of:
- Senior Management
- Sales Management
- The sales team
Senior management need the information to determine the value of the investment they are making in the sales team. Managemnt need sales reporting it to measure key indicators. Key Indicators like cost per lead, cost per sale, close ratios, sales cycle, sales capacity and so on.
For sales managers, it’s a little different. Your priority should be to understand sales activity. To measure progress toward meeting your forecast. To use sales reporting to collect sales data that provides you with the information you need to improve production. You need to see it as more that just collecting numbers for upper management.
Sales people should see sales reporting as a way to better understand their sales territory and sales patterns. This requires the sales manager to provides them with an understanding of how producing those reports can help them. Not just management.
For a sales reporting system to be successfully adapted in any organization, it must serve the needs of both management and the sales team.
- Have a clear picture of the sales metric needed to drive results.
- Have a clear understanding of the KPI, key performance indicators
- Have a sales reporting system that worked on paper. Computerizing the process will not help a sales report that dosen’t work.
The important thing here is that in order to make your sales reporting relevant, you have to understand the key performance indicators, your sales metrics.
Sales Metrics In Sales Reporting
You have to determine which sales metrics have value. What are your key performance indicators? Sales Metrics are measurement of an activity or group of activities that your company attaches a strategic or tactical value to. These fall into two categories:
- The metrics for sales results, which represent the bottom line. This would include things like sales booked, gross sales, sales by product group, sales by channel or so on.
- The sales metrics for activity, which represents the strategy and tactics involved in making the sale. This would be the number of cold calls, phone calls, presentations, proposals, lost sales, and the like.
I hope you enjoy this episode.
Ask your questions or share your feedback:
- Comment on the this post
- Subscribe to our Newsletter To receive additional information
- Email @SalesManagementWorkshop.com
Let’s connect:
- If you have a chance, please leave me an honest rating and review in iTunes. It will help the show and its ranking. I appreciate it !!!! Thanks and I hope you enjoyed the show!
- Join the Facebook Page
- Follow @mcsalesworkshop