How do you use a sales dashboard?
A sales monitor shows sales data visually. It has graphs, numbers, and charts that show the sales team the most up-to-date information on how sales are going and what they are doing.
Closed business (dollar amount), sales volume, lead conversion rates, pipeline data, and activity by salespersons are all standard metrics for sales dashboards. Since sales dashboards use real-time data, they show changes when a sales rep adds a new activity or deal to the CRM.
Sales managers use dashboards to monitor KPIs, report sales figures to executives, and monitor how healthy sales operations perform. They help sales reps track their success, set priorities, and see how close they are to meeting their sales goals.
Dashboard reporting can be a feature built into a company’s CRM or a separate tool that works with a CRM. Companies will sometimes use both an integrated solution and a native dashboard. For example, they might use both to see all of their marketing, sales, and customer success statistics at once.
Like words
- Dashboard for sales analysis
- Dashboard for sales KPIs
- Dashboard for sales performance
- Dashboard for the sales pipeline
- Pros of Using Sales Dashboards
There are a lot of benefits to measuring sales metrics and keeping track of sales action across the whole company. Without it, no one else in the company can know what’s going on with the sales team.
Here are ten of the best reasons to use a sales dashboard:
- Roughness. Since dashboards are built on real-time data from the CRM, they help ensure that tracking, reporting, and forecasting are done correctly.
- Accessibility.CEOs and managers can see at a glance how well their sales team is doing by looking at sales dashboards. These dashboards show critical data like volume, closed business, and lead conversion.
- They are tracking and diagnosing performance. Since success is tracked on a single dashboard, reps who do a great job get the praise they deserve. Since sales actions and KPIs are all in one place, managers can quickly figure out what problems reps who aren’t doing their jobs may be having and help them.
- Drivenness. With up-to-date sales results, sales reps can use their dashboards to stay motivated and on task. They also gain from using numbers to compare activities that lead to success or failure.
- Effectiveness. Reporting on the sales screen expedites manual tasks that could be inaccurate. Everything is handled in the CRM, so you don’t have to do reports or data entry by hand.
- They are making wise choices. Dashboards show management ongoing, real-time information about how sales are going, which can help them decide where to put their resources to get the best return on investment (ROI).
- They are making accurate predictions. When data is constantly coming in and out, managers can keep a close eye on how things are going and be sure what will happen. If you make dire sales predictions, you could end up with too much or too little product, miss your goals, and have a lower bottom line.
- Easy to understand. Executives and investors use sales data to make big choices. However, they are not experts. These people who make decisions can easily see where the company is going with sales screens.
- Score first. Any company, not just those that use AI-based lead-scoring tools, will have to put some leads ahead of others based on
- More chances to make sales. The technology behind CRM makes it possible to make sense of all the data it stores and reports on. One sales boss would never be able to see the whole picture of what’s going on in their sales funnel.
Examples of Sales Dashboards
For the most part, using a sales tool makes selling easier. Most sales teams use more than one to make sense of different kinds of data.
Take a look at these sales screen examples:
Dashboard for Sales Cycle Length
The lead conversion rate of a business is directly linked to how long its sales cycle is. When deals sit in the process for too long, they don’t close as often. Deals should be closed quickly for the sales team’s benefit.
As well as the average sales cycle length for the company, a sales cycle length dashboard shows the average sales cycle length for each market size, such as emerging, mid-market, and corporate. It shows these numbers next to how long each sales rep’s sales cycle lasts.
Based on how it relates to their performance, sales managers can use the length of a rep’s sales cycle to either set an example or figure out what’s wrong. One example is that a top rep may have a slightly longer than average time to close because they spend more time with their leads. If that same person wasn’t doing their job, it might mean they’re letting deals build up for too long.
Dashboard for converting sales
The number of eligible sales leads turned into customers is called sales conversions. A monitor for sales conversion usually shows the following:
- Total sales and pipeline steps for each rep, such as contacts made, opportunities opened, and proposals sent.
- How many leads, chances, talks, offers, and wins are there now?
- The lead-to-close rate for each person and the average for the whole company
- Key performance indicators (KPIs) include the usual deal size and the customer’s lifetime value.
- There is a close rate by channel and a conversion rate over time (YoY).
- Less necessary conversion measures, like MQL-to-SQL or SQL-to-opportunity conversions
Conversions, not leads, bring in more money in the end. So, it’s essential to keep a close eye on conversion numbers. Leads don’t get lost with the help of a sales success dashboard.
Dashboard for Sales Opportunities
A chance is not the same as a lead. Based on what they know about the buyer now, it’s a sales-qualified lead (SQL) that is likely to close.
The sales chance dashboard shows reps and managers all the opportunities still in the works.
It proves:
- The total number of chances divided by stage (for example, made contact, chance opened).
- Size and worth of the chance at each stage
- Rate of opportunity wins by group and for the team as a whole
- Average career value of a customer
- All the money is made from deals that are still in the works.
The dashboard for sales chances shows how well your sales reps are doing at closing deals. It also helps improve methods for managing opportunities, like setting priorities and following up.
Dashboard for Sales Productivity
Sales efficiency dashboards show how specific actions lead to better results and performance. They let sales teams keep track of many different measures of productivity.
Some of these are:
- A list of all the calls, meetings, and texts made and sent.
- Sales demos were given.
- Prospecting tasks like researching accounts, making connections, and cold-calling
- Follow up with leads and the last person you talked to
- Lead time for response
- Conversion rates by actions (for example, meetings from emails sent).
How long did each task last on average?
When you track and show sales reps their output, they have the information they need to do their jobs better. People in charge of sales can use the efficiency dashboard to show their reps what they should and shouldn’t be doing.
Dashboard for Sales Performance
The sales performance dashboard is the most complete type because it shows all the metrics necessary for sales, such as sales goals, quotas, opportunities, deals won or lost, income, leads, and conversions. It gives a complete picture of how the whole team is doing.
Most of the time, this panel shows the most critical data from all the others.
No new business opened at all.
The overall rate of change
- Total number of leads, chances, and finished deals
- The number of deals in each process stage
- What is the average deal size and customer term value?
- How many calls, texts, and demos did each rep make and give?
- How salespeople met KPIs, quotas, and goals
The sales success dashboard shows how the whole team is doing and can be used to find places where they can do better. It helps everyone stay on track to go above and beyond their goals.
The sales leaderboard
A sales leaderboard is a great way to reward and inspire reps because it shows how each rep is doing compared to the others. This can motivate the best reps to do even better and push the rest to work even harder.
Usually, the sales list shows:
- The number of leads created as a whole
- All changes were available.
- Values and numbers were used to close deals.
- The average size of a deal by rep
How many deals were made?
By putting this information into a scoring system, leaderboards turn the sales process into a game. Reps and leaders can always see who’s on top of the list and who needs more work.
10 KPIs that are often found in sales dashboards
Size of the sales cycle
The length of a company’s sales cycle can be found by looking at the time between when a lead enters the funnel and when it ends. The average is found by adding up all the sales contacts over time.
To make a valuable graph of sales cycle time, divide it into groups based on the sales team or cohort and the size of their market. Enterprise sales always have much longer sales cycles, so their numbers would differ significantly from those for developing and mid-market reps and vice versa.
Deal Size on Average
What does “average deal size” mean? It means the average value of all finished deals. It shows directly how much money the business made, which makes it an essential measure for budgeting and setting team goals.
A company should also keep a close eye on the average deal size because it tells them how long they need to keep a customer to return the cost of getting that customer (CAC). The sales team makes more money when the cost per acquisition (CAC) is cheap, and the average deal size is high.
Openings for Business
An open chance is a highly qualified lead that could turn into a sale that a sales rep is working on. Many open chances are almost ready to be contracted, negotiated, or closed if they haven’t already.
It is essential to keep track of open chances and the people who hold them so you don’t lose sight of them. It also helps sales reps organize their daily tasks and focus on the leads most likely to turn into sales.
Opportunities Gone Away
A chance that has passed could be either Closed Won or Closed Lost. Both should be tracked and analyzed because they show how well sales reps make deals.
Keeping everyone in the loop is essential, especially when selling with others. The screen for closed opportunities shows the reps all the deals they’ve won and lost in one place. During morning meetings, sales managers can look at these numbers and talk to any reps about the deals that have already closed.
When a chance is lost, it’s not always gone for good. Follow-up emails and new conversations can sometimes help sellers regain their lost chances.
Rate of Wins and Losses
The win/loss rate is a straightforward metric that shows how many chances a sales rep closes and how many they don’t. It gives reps an idea of how well their sales processes are working and helps them figure out what they can do better, like better screening leads or negotiating.
The win/loss rate tells you valuable things about a company’s product-market fit, current sales method, and how well reps’ strategies work, but it doesn’t show how much the deals were worth.
Sources of Leads
Keeping track of leads by source helps sellers improve how they do things. When reps know which sources bring in the most business, they can put more effort into those outlets and do more of what works.
Companies usually add lead tracking tools to their CRM or enter the source of the lead every time they add a new customer to keep track of leads by source. This makes it easier to keep track of new leads, manage them, and figure out the return on investment (ROI) for marketing and recruiting.
Rate of Upsells
One of the best ways to make more money is to upsell. It doesn’t take extra work to get new leads, giving an already-loyal user more value. That’s why most businesses put it at the top of their list.
When businesses want outside funding or go public, they want all the revenue growth they can get. It’s better if the net income retention rate is high.
The increase ratio shows how often a seller tries to sell a customer something more expensive. It tells them a lot about how well their customer retention strategies are working and what else they can do to get the most out of their customers.
Rate of Customer Loss
To put it another way, the churn rate shows how many people have leftover time. It determines what percentage of customers quit their subscriptions or don’t buy anything else in a certain amount of time.
It helps sales reps determine which customers are most satisfied with the product. If most of your lost users are from a particular market or group, you’re either not giving them a good experience or the product isn’t right for them.
The value of a customer over their lifetime
The total amount of money a customer brings in throughout their career is called their customer lifetime value (CLV). To find it, multiply customer lifetime (how long a customer stays with the business) by total customer value (the average value of their sales times the frequency rate).
Companies use the customer lifetime value to make plans and programs to keep customers returning. It also helps them determine how long they must keep each customer to make money.
The average amount of money made per user
The average revenue per user (ARPU) is like the customer lifetime value (CLV), but it’s measured over a shorter time frame. It keeps track of how much money each person brings in on average over time when a business is open.
Besides that, ARPU can also show how healthy efforts to get new customers are working. This metric helps businesses determine which platforms bring in the most customers and how much they cost. They then use this information to decide how to spend their marketing budget.
ARPU is also a big part of the lead score. Customers from segments with better ARPUs get higher scores and move up the sales pipeline faster. It’s an excellent way to determine how valuable a customer is while qualifying leads.
Where to Get Data for Sales Dashboards
CRM stands for customer relationship management.
Most CRM software comes with sales screens that can be changed to fit your needs. CRM is the best place to start when making a dashboard because it’s where all sales jobs and data live.
Most CRMs can connect to other data sources right out of the box, such as marketing, banking, and customer service. This makes it simple to gather all the essential information in one place for the correct reports.
CRM gives you essential information, like general performance, sales cycle length, rep activity, and deal size, whether it’s a built-in feature or an API integration with another dashboarding and data visualization tool.
Set up, price, and quote (CPQ)
“Configure, Price, Quote” (CPQ) software helps sales teams make quotes and offers quickly and sometimes automatically.
CPQ is where most of the information on product sales comes from. As part of its job to quote, sign contracts, and finally handle payments, it also sends information to the dashboard, such as the average deal size and average revenue per user (ARPU).
Automation in Marketing
Marketing automation tells sales teams which lead sources to produce the best quality leads. This is the best way to keep track of leads by source and see if thriving salespeople are turning them into customers.
When you connect marketing automation to CRM and sales dashboards, you can see how prospects turn into buyers, where they come from, and how they purchase.
A platform for sales engagement
A sales engagement platform aims to help reps stay organized, set priorities for jobs and prospects, and keep track of their progress. All the sales process steps are in one place, so sales reps can see where they stand with each client at any time.
Platforms for sales interaction also show how well the team is doing at closing deals. Account reps can improve their sales approach by keeping track of which activities, like emails, calls, demos, and visits, work best.
Tools that help with sales
There are many types of tools that can help with sales. While some are meant to give sales workers the correct information, others are more focused on helping them develop better ways to close deals.
These tools can also keep track of success indicators over time, such as the number of wins and the size of the deals. For example, inside and outside sales teams must ensure they do this more than anyone else.
