A sales dashboard is a great tool to stay on top of your relevant sales KPIs and monitor them in one central place. These dashboards are relevant for sales managers and C-level executives at the same time and help you to reach your planned sales goals through detailed analyses of your sales performance, sales cycle length and sales funnel.
This sales dashboard example provides the perfect overview of the progress of the sales department by focusing on sales growth, sales targets, ARPU, CAC, and CLV. This visualization of every aspect of your sales portfolio affords you a unique opportunity to quickly and easily take a full picture of your sales operations, without losing any information.
As a sales manager, you need to have at-a-glance information that can show you whether or not your team is meeting their individual goals. The sales performance dashboard above is your one-stop-shop for sales insights. First you can see whether or not your team is on track to meet their planned goals by looking at the sales target KPI. These insights can help you plan for the future, as well as identify if your sales team might need additional training. Using this sales dashboard template, you can gain an insight into how this sort of real-time sales monitoring can augment your operational management and improve your profit margins.
Our first sales dashboard example enables you to drill down deeper into critical KPIs like Average Revenue per Unit (ARPU), Customer Acquisition Cost (CAC) and Customer Lifetime Value (CLV). Average Revenue per Unit is a great benchmark of the average money generated across all sales; although this measure does not take into consideration the varying acquisition costs of different customers or products, it is a great overview snapshot of the average value amongst your various customers. Customer Lifetime Value is a sort of forecasting prediction, that indicates to you the worth of your customers over the entire future relationship with your customers.
The goal, of course, is to increase Customer Lifetime Value and Average Revenue per Unit or user/account, while cutting acquisition costs. It is business basics to attempt to maximize profits which can be generated from customers and revenue returns per sale; however, this sales dashboard gives you the ability to quickly, easily and efficiently track and monitor changes in these indicators so you don’t miss a beat. It enables you to easily compare these important numbers and monitor if you are on the right track, and identify where you can make strategic changes to improve further.
A Sales Cycle is a reflection of the time it takes to go from start to finish, from potential opportunity to make a sale to a handshake and a paid invoice. However, in the midst of the exhilaration of making the sale, details get lost, productivity is not always at its highest and you might not be operating as productively as you image or hope. Obviously, shortening the Sales Cycle can significantly impact your bottom line, put more money in the bank and ensure a happier and more devoted customer base. However, before you can optimize the cycle, you must first understand it. Enter our sales dashboard software and build your individual sales cycle length dashboard. You can start with the basics, by first looking at your current sales cycle length over time to use as a benchmark.
In this sales dashboard template, the length of a Sales Cycle is depicted as a sales funnel with four steps in making a sale; Opportunities, Proposals, Negotiations and Closings. Each step in this process takes a certain amount of time and the average length of the Sales Cycle is a reflection of the average time each stage needs to be completed, across all representatives within your sales team.
After setting up and customizing your own Sales Cycle stages, as it pertains to your business and particular product inventory, you can start assessing your sales productivity and that of each individual sales representative as well. Is one rep significantly outperforming other team members? Now that you have that information at your fingertips, you can drill down to find out what is and isn’t working. You can also use this sales dashboard to track individual rep’s progress over time. This helps with goal setting for individuals, and for the sales team as a whole.
You already know that the bottom line is to maximize profits and improve productivity; employing state of the art Sales Cycle Length visualizations will help you immediately determine the strengths and weaknesses in your sales team and operations, and give you the information you need to respond accordingly.
There are numerous stages in the process of making a sale; ascertaining potential leads, turning those leads into opportunities, commencing negotiations, initiating proposals and hopefully, ultimately ending with sales / wins. Of course, leads don’t always turn into opportunities and proposals don’t always yield wins; this is the nature of the business. However, as a business owner or sales manager, you should not be content with accepting that proposals don’t eventuate into wins, for your company. Rather, you should monitor your operations down to the smallest detail and ensure that your business is operating as effectively as possible.
Our third sales dashboard example - the sales conversion dashboard - enables you to look at details of the individual stages of the sales process, in order to improve your all-over conversion rate. This sales dashboard template does not just provide you with the raw information, but rather translates it into a more meaningful form and puts that information at your fingertips, namely by means of succinct visualizations of different aspects of the sales conversions process. You are given a Lead-to-Opportunity ratio, depicting the ratio between potential leads and those converted into real opportunities. Perhaps your Lead-to-Opportunity KPI is through the roof, which tells you that your salespeople are extremely effective at the beginning stage of the cycle.
The example dashboard further provides you with information related to Opportunity-to-Win ratio, demonstrating the percentage of opportunities that your sales team was able to convert into actual wins and profits for your operation. If the Opportunity-to-Win ratio doesn’t match the Lead-to-Opportunity ratio, that could alert you that there are issues in the later stage and provide you with invaluable insight about changing certain aspects of your sales operations, in order to maximize efficiency; perhaps additional training would be valuable, or maybe you have to look at the leads you are targeting in the first place. By analyzing the opportunity, proposal, negotiation, and closing stages you can identify and address room for improvement with the goal of increasing sales conversions.
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