Sales metrics dashboard

Sales metrics dashboards are designed to give the viewer a quick, high-level view of pertinent information that can illustrate progress, inform decisions, and shine light on the efficacy of business strategies. If used to their full potential, sales metrics dashboards guide sellers, managers, and leaders along their path to meeting or exceeding their quota by making sales activity tracking simple.

Read more about sales metrics dashboards below.

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Sales metrics dashboards

Sales metrics dashboards are designed to give the viewer a quick, high-level view of pertinent information that can illustrate progress, inform decisions, and shine light on the efficacy of business strategies. If used to their full potential, sales metrics dashboards guide sellers, managers, and leaders along their path to meeting or exceeding their quota by making sales activity tracking simple.

Recent data by Gartner says that sales representatives have a lower data proficiency than all other teams in an organization. Informative, user-friendly sales metrics dashboards help sales reps overcome this hurdle because they display large amounts of complex data in a way that’s easy to understand and digest.

But how do you create a sales dashboard, what sales metrics should be included, and what are the principles of a good dashboard? This article will explore how to measure sales performance by creating a sales metrics dashboard to meet the needs of a company.

What is a sales dashboard?

A sales metrics dashboard is a display of sales metrics and business data. Sales dashboards are generally digital and can range from a sales dashboard in Excel to Tableau dashboards built right into CRMs and other sales platforms. The dashboard is designed to show sales metrics and key performance indicators (KPIs) that measure revenue operations, sales performance, sales activities, sales pipeline, sales forecasting, lead generation information, and more. Leadership, managers, and sales team members can use a sales dashboard to quickly view business health, measure sales goals, and make adjustments in real time.

Sales dashboards work by consolidating data and metrics from multiple tools into one place, making it a perfect at-a-glance tool for teams. Generally speaking, there are three kinds of sales metrics dashboards:

  • Individual: Individual dashboards display information about a specific seller and their outcomes and performance. Individuals can access their own dashboard to track their progress toward their quota, and managers can use their dashboard to monitor progress and determine training or coaching opportunities.
  • Team: Team dashboards display information for a team. For smaller companies, a single dashboard may be for the entire sales team. For larger companies that have more than one sales team or multiple branches, the dashboard can show each sales team’s results separately.
  • Company: Company dashboards are used for C-suite leaders to review their company’s overall progress, revenue streams, and the impact of individual efforts such as a new sales or marketing campaign.

What should a sales dashboard include?

At the highest level, a sales KPI dashboard should include sales metrics. But the sales dashboard design shouldn’t feature every metric available — that would become unmanageable fast and would confuse users, which defeats the purpose. Instead, a sales dashboard should include all the relevant sales metrics that sellers, managers, and leadership executives want or need to look at regularly. The relevant metrics will vary company to company depending on overall goals, structure, and needs.

The next section includes examples of common sales metrics to display in a dashboard. But first, let’s dive into how companies can figure out what kinds of information they want or need to track.

Step 1: Determine the purpose

Is the dashboard designed to track progress, give viewers a better understanding of their quotas, or help managers identify effective and ineffective strategies? Each of these purposes requires unique metrics to provide the right picture. Before forming a sales dashboard design, determine why the dashboard is needed.

Step 2: Understand the audience

Sellers, managers, and C-suite executives will all have different needs for a dashboard, so they’ll all be interested in different sales metrics. Determine who will primarily use the dashboard, and select metrics that will be relevant and informational for that audience.

Step 3: Choose a time period

While some dashboards may display daily or weekly data, others are designed to show quarterly or yearly information. Determine what time period the dashboard will cover, and select the most relevant metrics.

Step 4: Identify the right amount of data

It’s not practical to display every possible sales metric on a dashboard. Narrowing the displayed metrics will make the dashboard much more effective. A sales dashboard should be easy to use and understand and should drive action quickly. Sellers, managers, and executives alike are all busy people. Figure out the relevant needs for the dashboard users and identify the best metrics to meet those needs.

Step 5: Select the best types of charts

There are a number of chart types for displaying data: those that offer comparison, illustrate composition, show trends, and more. Decide which chart types are needed, and ensure that the charts are easy for dashboard users to interpret.

What are sales metrics?

As discussed above, sales metrics are KPIs that are used to measure and monitor overall sales performance for a business. Depending on the goal, sales metrics can be used to assess individual, team, or overall company performance. They help leaders track progress toward sales goals, identify strategic issues and opportunities for training, make dynamic adjustments when necessary, prepare for the future, and more.

There are a variety of types of sales metrics, and each business needs to choose which sales metrics are most important to its overall structure and success. Here are some of the most important B2B sales metrics that may be useful in a dashboard.

Sales company metrics

Sales company metrics are designed to measure company-wide performance. These are especially helpful for companies with multiple sales divisions, for quarterly and year-end reviews, and for making sales forecasts or projections about the future. Examples include:

  • Total revenue: The amount of revenue that was generated from every product and from every department
  • Revenue by product or service: Used by companies that offer multiple products or services to understand revenue generated by each of them
  • Revenue from new business: How much revenue a company is generating from new customers over a set period of time
  • Revenue from existing business: How much revenue a company is generating from existing customers via cross-selling, upselling, renewals, expanded contracts, etc., over a set period of time
  • Year-over-year growth: Compares revenue from year to year
  • Win-loss rate: The number of deals lost and won in a given time period

Sales activity metrics

Sales activity metrics include the various day-to-day sales activities that are completed by sales teams to drive revenue and move business along the sales pipeline. Tracking sales activity metrics can provide sales managers with keen insights into their teams’ work. Sales activity metrics are generally either qualitative ( subjective, opinion-based information) or quantitative (objective, numbers-based information). Both are necessary for a full picture. Examples include:

  • Calls: Sales, training, or troubleshooting calls made over a certain period of time to current or prospective clients
  • Emails: Emails sent over a certain period of time to current or prospective clients
  • Social media: Social media interactions, including the platform it took place on
  • Lead time: The average amount of time a sales representative spends on a lead
  • Meetings: Interactions, including demos, sales presentations, training sessions, and other virtual or face-to-face gatherings
  • Customer complaints or issues: Objections or pain points that sales reps run into

Sales activity metrics can be enhanced by using tools that support the best sales activities for a business. Collective[i]’s Intelligent InsightsTM, for example, replicates the judgement of a company’s top sellers and provides the entire sales team with a list of daily recommended activities.

Pipeline metrics

Pipeline metrics are those measurements that help illustrate the health of your sales pipeline, including which sales activities are working, which aren’t, and where improvements can be made to the pipeline. Examples include:

  • Sales cycle length: The average length of a sales cycle from start to finish
  • Total open and closed opportunities: The number of open deals and the number of closed-won deals by a person or team over a given time period
  • Weighted value of pipeline: The estimated value of each deal as it moves through the sales pipeline
  • Conversion rate: The number of leads that convert at each state of the sales pipeline

For companies looking to better understand their pipeline, Collective[i]’s Predictive PipelinesTM provides leaders with on-demand inspection capabilities, health assessments, and critical information to help teams course-correct. This tool also provides coaching opportunities to help develop sellers at all levels.

Lead-generation metrics

Lead-generation metrics measure the performance of sales prospecting by team or by individual sales representative. By looking at these metrics, managers better understand where leads are coming from and the average time frame to secure a lead. Example metrics include:

  • Frequency of leads: The quantity of new leads added to the sales pipeline over a given period of time
  • Average lead response time: How quickly a lead takes to respond. Companies with a long lead response time may be interested in improving it with products such as Collective[i]’s ConnectorsTM tool, which analyzes the professional network of a company to find connections with leads that may not be immediately apparent.
  • Lead follow-ups: The percentage of leads that receive a follow-up communication from the sales team and the average time frame for a sales representative to follow up
  • Leads dropped and acquired: How many leads are dropped and acquired over a given time period

Conversion metrics

Conversion metrics are designed to measure specific information about the conversion of leads into wins or losses. These can be used to examine the work of a company as a whole, a team, or an individual. Examples include:

  • Opportunities closed: The percentage of opportunities that were won
  • Opportunities lost: The percentage of opportunities that were lost
  • Conversion rate per lead source: The conversion rate by lead source (e.g., website and email)
  • Cost per acquisition: The average price companies pay to convert a customer

Sales productivity metrics

Sales productivity metrics measure how efficiently a sales team or individual seller hits quotas. Generally speaking, the faster a team or person is at meeting the quota, the higher the productivity. If all salespeople are meeting their quotas quickly, that productivity score may be a sign that the quota is too low, and a company can adjust accordingly. It is important to use sales productivity metric tracking as a form of coaching, not a form of micro-managing sellers’ time. Some examples of sales productivity metrics include:

  • Time spent on selling activities: The total time spent on selling activities for a given week, or a breakdown of time spent on individual activities such as emails, phone calls, or demos
  • Time spent on data entry: How long sellers spend manually entering data into a CRM or other system. Companies that notice their sellers spend too much time entering data may be interested in Collective[i]’s Intelligent WriteBackTM, which automates CRM capture from any tools sellers use, cutting down on the possibility of human error and giving sales teams a productivity boost of up to 15% to 20%.

Sales process and tools metrics

It’s just as important to understand sellers’ process and tool usage as it is to understand sellers’ performance and activities. Tracking the performance of sales processes and tools can help managers understand which resources are helpful or not to sellers and identify any gaps.

  • Amount of representatives following the sales process: Most companies have a fairly standard sales process, making it easy to identify sales reps who are deviating and why.
  • Sales and marketing collateral use: Pinpointing which pieces of collateral are useful can help marketing teams develop better materials.
  • Amount of representatives using a specific tool: Having a grasp on which tools reps find useful or cumbersome can help inform decisions about technology. For example, if a company finds that none of its representatives are fond of a certain collaboration tool and avoid using it, the company can opt for a better tool. Collective[i]’s Virtual DealRoomsTM, for example, streamlines the selling process by enabling everyone who is involved in a deal to collaborate in one dedicated communication space.

What makes a good sales dashboard?

A good sales dashboard tracks the pieces of data and information that companies need to understand their sales pipeline, the work of their sellers, and the efficacy of their processes. It then presents that information in a way that teams can easily understand. Additionally, a good sales dashboard is:

  • Focused: Sales dashboards are designed to be used. While the information displayed in them may be complex, usability needs to be quick and painless. If sellers, managers, or executives have a difficult time understanding how to operate the dashboard to find the information they need, they’re less likely to use it.
  • Consistent: Sales metrics, and the sales dashboard they’re displayed in, must be consistent to be informative and actionable. Companies should set a standard for how data is collected, what data is collected, and how frequently it’s collected.
  • Accurate: Sales metrics data is essentially useless if it’s inaccurate. On the other hand, when data is accurate, sales metrics dashboards can illustrate what’s working, what isn’t, what steps need to be taken to improve, and what kinds of training opportunities there are for sellers.
  • Actionable: A good sales dashboard should be actionable, providing sellers and managers with the information they need to take the next and best steps for generating revenue.

With Collective[i], teams gain access to well-designed dashboards that provide the sales metrics, tools, and information necessary to easily interpret data and identify actionable next steps. Find out how Collective[i] is modernizing sales with our sales metrics dashboards powered by artificial intelligence, and reach out to us today to get started.

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