Modern sales dashboards
A great deal has changed in the world of sales, but certain aspects remain critically important. For example, call reporting, calendar planning, and prospecting are still fundamental to a successful sales strategy. The application of digital tools to these tasks has made them even more effective, giving the sales dashboard a new look. Modern sales dashboards drive performance through focused, actionable metrics.
What Defines True Success
For the outside sales rep (OSR) to be successful, he must have a strong bond with the sales manager. The rep must understand specifically what he or she needs to do.
The macro view of year-to-date sales and margins is not enough to direct a successful sales strategy. Economic changes, supply chain disruptions, product availability, pricing pressures, and delivery times all impact a rep’s ability to close deals and maintain customer satisfaction. While these macro external considerations are important, reps must also pay attention to key micro indicators to ensure the business is moving forward.
Key Micro Indicators
- New Business Margin – tracks your ability to expand your customer base and generate revenue.
- Penetration Margin – measures you’re growing wallet share within your current customer base.
- In the Funnel Margin (ITF) – the minimum total of margin dollars for all prospects that close in 3 months.
- Prospective Calls – Each manager and rep agrees on a specific number of calls to complete each month.
- New contracts – record and review new and renewed contracts.
Dashboards drive performance
Amber Johnson, a leadership development consultant, informs us: “When teamwork is stressful, it’s often because you have expectations others don’t share. Unfortunately, you may be missing expectations others have for you as well. To prevent these frustrations and ensure that your team performs better over time, design the team by defining clear goals, roles, and protocols.” Creating a sales dashboard with the proper micro metrics enables your team to move forward toward a shared goal. Dashboards drive performance and success in today’s marketplace.
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