Sales Reports and Dashboards

December 29th, 2010 by

By Pat Hinds,

Many of POIM customers’ sales objectives fall into two categories:

• Market Penetration – is a growth strategy where the business focuses on selling existing products into existing markets.
• Market Development – is a growth strategy where the business seeks to sell its existing products into new markets.

The implementation of a CRM system builds a structure that allows companies to focus sales activity on market penetration and development. Once POIM has implemented existing and prospective account and contact data (normalization and market model data services) within the CRM we work with companies to track opportunities against the accounts and contacts within the CRM. Tracking opportunities allows the customer to implement a series of reports that measure the company’s success in meeting the market penetration or development objectives.

CRM vendors like SalesForce.com supply reports as part of the product offering; my recommendation is to build a foundation that focuses on three areas: Closed Opportunities, New Opportunities, and and Top Ten – rather than solely over two time periods “current month and quarter”.

Closed Opportunity Reports (Did Well Reports)These reports and dashboards are designed to provide a snap shot of the deals won and lost. My recommendation is to build a summary report for two time periods; these include the current month and quarter. When building the dashboard I use the “gauge”, this allows you to measure your progress against your sales objective.

New Opportunity Reports (Do Better Reports)_these reports are designed to provide a snap of the sales funnel over a 30 and 90 day period providing insight on the deals that are intended to close prior to the end of the fiscal quarter. When building the dashboard I use the “funnel”, this allows you to measure future revenue by the sales stage that reflects the probability of closing.

Top Ten Reports (Wall of Shame) – The concept behind these reports is to showcase the sales performance of the reps from top producer to the bottom and highlight the top 10 closed deals and opportunities in the sales funnel. When building the dashboard I use the “table” this allows you to present the data in an easy to read format.

http://tutor2u.net/business/strategy/ansoff_matrix.htm

Once you have built the reporting and dashboard foundation to measure market penetration and development you will have lots of options to expand the historical and forecasting capabilities of a CRM to improve your reports.

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