Many salespeople spend their time focusing outward on prospecting. However, the most successful salespeople also look inward — at the treasure trove of information just waiting in their CRM.Salespeople often struggle to understand lead behavior across different channels. Yet the solution to this challenge — and others such as scheduling, follow-up, delegation, goal tracking, and more — are all in one place: Your CRM software.CRM reports enable you to capture, monitor, and understand your contacts and leads by the numbers. Reports won’t look the same in every CRM, but most modern platforms will offer some variety of the following essential reports.1) Contacts ReportAnyone in sales can attest — your contacts are your most valuable asset. Not only are your contacts your leads, they are also your potential customers and your network to more leads. A contacts report gives you both a bird’s-eye view of which contacts are in your database and detailed views of pipeline stage, source, industry, date of last contact, and other attributes.This report can help you identify new opportunities, find networking connections, or spot weak points in your funnel.2) Leads BreakdownA leads breakdown shows you exactly which stage every lead is in in your pipeline. You can also organize this report by product or source channel in order to compare and analyze various groups of leads and their progress.Of course, in order to get an accurate read of where your leads are coming from, your CRM database will need to be integrated with compatible marketing automation software. 3) Revenue SummaryCreate monthly and quarterly versions of this report to measure your progress against goals and new revenue broken down by source, product, and sales rep.This can help you understand what tactics — social, email, search, etc. — are driving the most sales and where you need to double down your efforts. Revenue visibility is especially important for staying accountable to executives and other stakeholders. You can also use a revenue summary to forecast and set new goals based on your current close rates.4) Companies ReportA list of individual leads can become messy when two-plus leads come from the same company. A companies report is an excellent tool to ensure you’re correctly tracking leads, revenue, and behavior by monitoring buying groups versus individuals.This report is a must for account-based sales (and marketing) strategies. Combining individual lead scoring with account/company-level reports is a great way to keep your ABM on track and target the most promising opportunities.5) Wins/Losses ReportA wins/losses report displays which deals you’re closing or losing in real time, which reps are responsible for those deals, and how your close rate measures against industry benchmarks or your own goals.6) Custom ReportsThese five reports are essential to any successful sales strategy, but you’ll also want to consider custom reports that reflect the nuances of your product line or buying cycle. Once you get comfortable with the basic reports, it will become easier to develop custom reports to delve even deeper into your data.Other metrics you can include in a custom sales report might include:Average deal sizeLead-to-close timeCost per leadIndividual sales rep performanceOutstanding opportunitiesInbound versus outbound leadsThe more you study your data, the more you’ll be able to improve. If you’re already using CRM software, you don’t have to look far to find critical insights that will make your company and your sales team more competitive.What reports does your team use? Let us know in the comments.
6 Reports Your Sales Reps Need to Be Successful
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