If you're ready to make data-driven decisions, you've come to the right place. Here's what you'll learn:
A sales dashboard is an application that provides a visual representation of your most recent performance metrics. Also known as a results dashboard , it gives you a concise view of key performance indicators ( KPIs ), such as the number of opportunities generated and the closing rate.
The sales dashboard is just the list of venezuela consumer email first step. Find out how to take your sales team to the next level in: 3 tips for successful sales management .
What is the importance of a sales dashboard?
The sales dashboard is important to better understand your team's performance, improve your sales strategy and plan your company's growth.
Look at the importance of these elements in numbers!
1. Understand team performance
According to a recent study , the percentage of salespeople who meet their quotas has dropped by 10% over the past six years. With a sales dashboard, you can easily track each salesperson's performance and plan training initiatives.
You may be interested in reading: 8 factors that affect sales productivity (+TIPS)
2. Improve the commercial strategy
A successful strategy depends on integrated efforts between different professionals. However, 4 out of 10 employees believe that there is not enough collaboration in their work environment.
From the sales dashboard, reps and leaders can see, for example, how many qualified leads reached the sales pipeline in a given period or which marketing campaigns generated the most sales.
If you are interested in results dashboards, we recommend reading: 11 sales management strategies for successful companies .
3. Plan the company's growth
According to KPMG research , 71% of organizations believe that data and analytics are critical to understanding business performance. However, the study reveals that only 47% of companies evaluate and monitor the effectiveness of their data models to support business decisions.
The sales dashboard turns this previously arduous task into a pleasurable activity. With just a few clicks, it's easy to discover what's working and what you can improve to ensure your business grows.
Does your results dashboard look promising? Get ready for the next step with this article: Market Development: Is It Time to Expand?
What should a dashboard include?
A sales dashboard is basically made up of metrics or key performance indicators relevant to your business. Of course, companies' needs vary depending on the items they sell, the country they operate in, and their long-term goals. However, there are some indicators that everyone should monitor to ensure success.
As the name suggests, sales by region refers to the performance of a good, product or service in a particular geographic area. This can be different countries for multinational companies or neighborhoods for smaller organizations.
2. Sales to date
Sales year-to-date is a metric used to track and evaluate total sales for the past year and compare the results dashboard to previous time periods. It is critical to assessing a company's progress, setbacks, or stagnation.
3. Sales per representative
Sales per rep refers to the ability of salespeople to generate revenue for your company. It can be used as a bonus or promotion criterion.
4. Average purchase value
Average purchase value refers to the division of your business's total revenue by the number of purchases in a given period of time. With this information in your sales dashboard, you are able to make a realistic sales forecast .
5. Lead conversion rate
The lead conversion rate is the ratio of the number of potential customers to the total number of people you attracted. In the sales dashboard, this metric is important to measure the effectiveness of your conversion funnel .
6. Closing quote percentage
Quote to close percentage is a sales dashboard metric used to determine the percentage of customers who contact a company and make a purchase.
7. Opportunities
In the sales dashboard, an opportunity means a qualified lead, i.e. a person who represents a potential deal.
Check out this article to learn the differences between lead types: What is an IQL, MQL, and SQL lead?
Get to know Zendesk's sales dashboard
In this article, you have learned what a sales dashboard is, why it is important to have one, and what are the main metrics it helps you monitor.
