Finding the best tool to accomplish success becomes the most crucial item on the agenda because statistics show that 39% of sales representatives do not meet their monthly goals.
The issue is that the sales team members can’t quickly access important information to close deals more quickly, restart stuck prospects, and determine which activities produce the best outcomes.
The effective solution to this issue is the use of dashboards with their “live reports,” which boosts teamwork, increases attention and rivalry among sales teams, and increases sales.
1. What is a sales management dashboard?
A visual depiction of all the accurate sales data is a sales management dashboard. The system gathers all pertinent information on a given trade or account from numerous sources and provides it in a clear and practical format.
Individual account executives, sales operations, sales management, and other team members can:
- save time on collecting and processing data;
- manage business processes more efficiently;
- easily and quickly identify interdependencies between various metrics,
- spot trends;
- prevent potential problems.
This is the quickest way to gather and process information.
You can use a variety of providers nowadays that offer various pre-made Quick base dashboards and/or the option to design your own, distinctive solutions. There are many various kinds of these, including tactical dashboards for managers and strategic dashboards for leaders
However, only you can choose which one will work best for your particular firm.
Try the Revenue Grid’s sales dashboard if you want an easy-to-use but cutting-edge solution. It will help you find the sweet spot between trying to track too many sales variables and analyzing too few, all while saving you money.
Revenue Grid offers 100% customizable Salesforce dashboards that offer quick & easy access and visibility of the key data that matters most to each specific user (based on personal preferences as well as job function), saving time and minimizing hassle. Revenue Grid fully supports desktop, mobile, and cloud.
Get your team activity reports quickly, see how well your team is interacting with important deals, and make sure you can react quickly to deals that matter.
2. How do sales management dashboards help to increase sales?
2.1. Creating visibility
The most crucial element in an organization’s operations nowadays is information. And the biggest issue facing contemporary firms is the challenges sales managers encounter when attempting to access data from multiple sources (CRM systems, MRP systems, spreadsheets, etc.).
You can acquire a visual representation of all the important data you require and a “360-degree” view of your company by using a dashboard that unifies several bits of information into a coherent whole (in an easily accessible and practical format).
The native Salesforce sales dashboards from Revenue Grid make it simple to track stalled opportunities and make sure to move quickly on the deals that count.
2.2. Taking advantage of data transparency
Finding out what works effectively within the business is critical, but it’s even more crucial to be aware of what needs to be changed right away. This makes it easier to identify issues with business processes immediately and identify the best fixes before everything goes wrong.
Some of the most common problems include:
- low MRR;
- gaps in the sales funnel;
- slow response time to leads;
- underperforming sales reps;
- low performing sales activities.
For instance, you should try to speed up the lead reaction time if there is a problem with the slow response time to leads (for example, make it 5 minutes instead of 20).
The lead receives a speedier response as a result and is more likely to convert into a customer. As a result of the company’s ability to create value, new recurring income is more likely to be produced.
2.3. Creating healthy competition
It fosters healthy competition within the team when your sales team members can access the “live” outcomes of their efforts via their phones, tablets, or laptops. Employees are highly motivated by the possibility to outsell a coworker, win the most sales, and receive a bonus.
With the Revenue Grid sales dashboard, you can quickly obtain team activity reports and stop speculating about which sales representative is the most proactive. Track both incoming and outgoing emails, tasks, calendar events, custom filters, incoming emails broken down by team member, and many other things directly in a Salesforce tab.
2.4. Setting new objectives based on historical data
Using historical data, you can determine whether there are fluctuations during particular times and plan for them. Performance and the use of particular levers can also be used to forecast the possibility of an increase in MRR.
If you tag certain target accounts in your CRM, you can track useful statistics in one place, for example:
- number of leads generated from them;
- amount of sales activity on these accounts;
- connection rate and account contacts;
- number of contacts engaged within the decision-making unit;
- lead scoring to evaluate the effectiveness of leads and pipeline opportunities;
- succession of these accounts through your pipeline;
- conversion rate you have against your target accounts;
- quarterly revenue generated from those accounts vs. forecast;
- predicted account revenue based on historic performance.
With this strategy, you can ensure that your marketing department’s investments are yielding results and discover what motivates response from your most pertinent prospects.
2.5. Using your time better
Dashboards assist you in focusing on the most pertinent data rather than generating routine reports so that you may address issues as they arise:
- if sales rep falls behind, you can see it in the first week of the month and fix the problem;
- if the number of leads or traffic to your website has dropped in the last week, you can immediately find out the reason and do something about it;
- if leads aren’t being tracked, you can nudge your team to respond before you lose opportunities.
2.6. Demonstrating results and increasing motivation
When your team or an individual achieves success, it’s critical that you as a sales leader rejoice and give them appreciation. You can highlight sales indicators using data from the sales dashboard when:
- total revenue increases;
- win rate grows up;
- quota is attained;
- average deal size grows up;
- number of sales reps hitting their quota increases.
High performing sales teams are motivated to raise the bar when they can see how far they have come in achieving their objectives.
For instance, you can quickly assess how well your team is interacting with important deals using the opportunity engagement insights included in the Revenue Inbox sales dashboard.
2.7. Focusing on the right sales metrics for success
Just concentrate on the indicators that are relevant right now. If meetings result from cold emails, confirm that open rates are dramatically increasing. Set a target of having 5 quality phone interactions per day if sales team members are only closing 5% of these calls.
Choose two to three measures and focus on them, putting the other metrics on hold while you work toward your business-critical goals.
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