Training your sales team without sales data is like training for an archery competition with your eyes closed. You’ll definitely miss the bull’s eye!
If you want to hit that sales revenue bullseye, you will need clear sales performance dashboards.
Sales dashboards are visual representations of your data used to better analyze and guide your sales team towards success. It shows you which areas are doing good and which areas need improvement, from a scientific angle.
Source: Giphy
If you have a CRM - You should use it :)
The big elephant in the room is managing your team with spreadsheets.
How’s a sales dashboard better than maintaining sales information in excel? You may ask… These dashboards allow you to represent data in various formats such as pie charts, bar charts, graphs, etc. Dashboards also have the ability to automatically update the visualisations based on the data that’s fed into it from your technology stack(a combination of software/technologies used to run a project).
Because all the information is displayed in one place in excel, it’s tough to interpret what’s valuable and what’s not. On the contrary, visualisation dashboards can be used to highlight important aspects of the data set.
Here are 3 power-packed sales dashboards every sales team should use to hit the gong more in 2023.
Dashboards act as critical evaluation tools to analyse every stage of the pipeline, right from the lead creation through to won/lost deals. You can use this visualized data to uncover important information about potential issues at different areas of the pipeline, such as lead generation shortcomings, slow/inefficient follow-ups, or lack of sales enablement materials after the demo etc.
Source: HubSpot
After you know which areas of the pipeline are clogged, by looking at the data, you’ll be able to come up with tactics to unclog it. Then you can take those tactics to your reps to get the pipeline moving again and increase your close rates!
A sales cycle dashboard can also be used to identify the changes in the sales cycle after implementing new sales strategies learnt from the dashboard insights itself.
The information you get through the pipeline analysis dashboard is broken down by the sales cycle dashboard. Further deep-dive into each deal is done and insights are shared about where each deal is within the sales funnel.
Source: Engagebay
This further tells you whether the right leads are being targeted, whether or not your product/service is what the audience needs, and whether your sales rep's performance is good.
A sales rep performance dashboard can be used to identify your sales rep’s performance. You can know which sales rep is over or underperforming and why. You can compare their performance with the average performance of all your reps.
Source: Zendesk
Key insights like how many more reps need to be brought into the sales system to achieve the sales goals can also be uncovered.
Important: You can also know how much time will it take to make a rep fully productive.
Complete visibility of your sales pipeline and team performance takes a lot of effort in normal spreadsheets. Using robust sales dashboards can help you manage your pipeline, forecasts, and rep performance more effectively and efficiently than spreadsheets.
Next-level upgrades: Integrating these dashboards with other business intelligence tools makes your work life even easier. These tools help depict all useful sales data in one place and can be tailored to your team’s needs. - (keep an eye out for articles on this subject.)
You can build custom sales dashboards with tools like HubSpot, Marketo, Salesforce, and others.
Not sure how to build insightful sales dashboards for your business or don’t have the bandwidth to do that? We know your plate is already full and you want to focus on meeting customer expectations, building your brand, and doing awesome storytelling.
RevX can assist you with creating sales and marketing dashboards tailored to your exact business needs while you focus on building your business.