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The Complete Guide to Sales Reporting

The Complete Guide to Sales Reporting

What is Sales Reporting?

Simply put, sales reporting is exactly what it sounds like: generating information on your sales, contacts, and reps in order to improve your sales later. There are so many moving parts in sales that you need to be able to pinpoint exactly where things are working (and where they are not), in order to make the proper adjustments.

This may seem a bit daunting at first, but luckily there are so many great sales solutions out there that can essentially do this reporting for you. For instance, your proactive relationship management platform can build these reports, giving you incredible insights into your sales forecast.

Who Needs Sales Reporting?

Well, the truth is that every sales team needs sales reporting. But needs vary depending on the structure of your team. Smaller teams make it easier to keep tabs on what everyone is doing, but you still want to make sure all prospects are tracked and followed up on accordingly. With larger teams, unfortunately, it’s easy for things to slip through the cracks.

The 9 Most Important Sales Reporting Metrics

1.  Opportunity Stage

As a sales leader, you need to know exactly where your team’s opportunities stand, and who they belong to. By knowing the stage of each opportunity, you can more easily predict how many deals are likely to close, and the next best steps for each.

2. Opportunities Created

To determine the number of deals that your team is going to close each month, as well as mark progress towards your end of the year goals, sales leaders must monitor how many opportunities are created each week. Once you start tracking this information, you can then measure if the number is increasing over time.

3. Average Deal Size

To successfully guide your team toward the optimal deals to pursue, you must know your average deal size. Then, you can compare incoming deals to that benchmark, and determine whether they are worth pursuing. Additionally, track your average deal size over time, to ensure it is staying consistent and/or increasing.

4. Revenue Source

Companies need to know where their revenue is coming from. It’s also important for sales leaders to be aware of revenue breakdown by lead source, product, and even rep, in order to create targeted solutions for any issues that may appear.

Report showing average deal size by marketing source
5. Sales Cycle

The length of your sales cycle is an extremely important piece of information for sales managers to know. Every industry has a typical sales cycle length, with some that may last years, and others only a few days. It is key to know whether your sales cycle aligns with that of similar companies, and if there are certain reps whose deals are taking longer to close than the average.

6. Win Rate

Create a report for the deals you win and lose in real time, so you know which deals close and who is actually closing them. And then you can determine how you are performing against industry benchmarks and your goals.

7. Rep Activity

Managing a sales team is all about coaching your team to success. A good sales manager needs visibility into the number of calls, emails, and texts each rep is completing every day. Once you have insight into those stats, you know who needs a little extra coaching, and where things might be going wrong.

8. Lead Aging

How long are your reps leaving a deal before following up? It’s possible that your reps are dropping the ball and losing out on potential deals as a result of failing to follow-up. After all, most deals don’t close until after the fifth point of contact.

9. Churn

Customer churn is an important metric for any company that has recurring revenue. Put simply, churn is the number of customers that stop using your service in a given time period. This number provides information on the health of your customer relationships and on product performance.

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