Let us face reality. In sales, there are few easy closes. According to studies on sales and marketing, only 2 percent of the first meetings with the prospects culminate in an on-the-spot sale, while the rest 98 percent of leads needs to be followed-up, advised, entertained, and therefore nurtured through the sales processes.
Even when your customer count is in the single digits, you still need to keep track of your customer’s activities over weekly meetings and remember their details by putting them in a spreadsheet.
However, as it occurs with many businesses, as your customer pipeline and sales teams grow, it is natural that you tend to lose your overview of this crucial process, especially when you as an owner of small business or startup have responsibilities to take care of and shoulder beyond sales activities.
This is exactly why businesses and brands need to buy CRM and require a reporting system for sales.
Performed rightly, sales reports can help managers quickly spot issues, analyze performances, and take necessary action to aid businesses to sell and grow faster. Moreover, proper sales reports can also provide income-related business forecasting, budgeting plans and resourcing oriented business decisions for predictive sales.
Hence, in nutshell, the bottom line is, sales reports are priceless for any organization.
Here are 3 types of sales reports that businesses must ensure to have once they buy CRM for comprehending their growth.
Real-time sales report can be documented in several types, but these 3 reporting formats are easy to create and so can be recommended as an utmost necessity for your sales strategy:
Daily sales reports are not to measure outcomes; rather it is a measurement of the number of activities that have been performed with your leads and prospects within the last 24 hours.
It helps you to evaluate how many emails or calls your sales team is sending every day so that you can monitor your sales rep’s individual performance and identify their inefficiencies.
Therefore, the key to sales performance indicator is daily sales reports which you can generate with most easy to use CRM that ensures your team remains successful while performing their day in and day out activities.
Beyond the granularity of the daily sales reports, weekly sales reports help in revealing any immediate trends that you need to address with your sales process.
Apart from this, weekly sales reporting generated by business growth technology and tools even offers good enough grounds for a sales team meeting to aid you address sales-related pitfalls before business and revenues are lost.
Having a well-throughout weekly report also provides you to have a data-oriented and direct conversation with your sales team.
Monthly sales reports are meant for understanding your sales performance curve and highlighting any seasonal trends that can affect your business.
Once you buy CRM it helps you to understand the state of your sales funnel, your conversion rate, and your overall team performance and so are not related to any immediate and preventive actions that you may need to take for your business growth.
How Can You Put Together A Sales Report?
The ideal sales reports use metrics found in easy to use CRM platforms to make you aware of how deals are advancing in the software. Here are some of the most critical things that you would most certainly want to measure in your report using the best CRM for small and medium business for sales growth:
The Most Essential Tool That You Require To Create A Sales Report
Although sales reports can be created out of spreadsheets, however as your business grows spreadsheets get complicated. Therefore, generating timely sales reports are far easier with purpose-built business growth tools like CRM.
This is because easy to use CRM be it Salesforce or any other Salesforce Alternative CRM software platforms used by small businesses not only helps in combining detailed reporting with its user-friendly interface but it also aids in monitoring your sales process and your teams.
Hence, sales reporting when utilized properly not only aids in tweaking and perfecting your sales process, but it even helps to guide your business forward by helping you to close more deals.