And a single day is often too short to see any real, meaningful outcome-dependent information. Of course, the perfect time to measure sales rep performance depends on your business model, too. You can also check our resources for using a business report template to expand your knowledge. Here we will take a look at specific reports and KPIs you can track on a weekly basis based on a B2B and retail perspective. As mentioned, the week is a perfect time unit to track your team's performance and get a more detailed overview of your sales numbers.
Let's go through the top reports you can utilize for your weekly meetings. Telephone cold calling is another invaluable B2B KPI that can tell you which weekdays are the most promising for outbound calls.
Usually, Tuesdays, Wednesdays, and Thursdays are particularly valuable for B2B sales, but it might be useful to set your own benchmarks. You can set daily targets and track the performance during each day of the week, but do consider factors such as mentioned days of the week or local time.
Essentially, this report shows you what physical areas and methods of customer acquisition are pulling in the most revenue. The total sales volume can make it easy to see where you should be prioritizing your sales efforts so that you can adjust accordingly.
Scoring models will help you to set a standardized value to your opportunities since there are different classifications depending on the potential. That way, you can allocate your resources more effectively and spend more time with opportunities that have a higher potential.
This metric, created with modern dashboard software , will help you create an effective weekly strategy and action plan on where your sales reps should focus their time and energy. While a week may be slightly too short to get a meaningful revenue metric depending on the length of your sales cycle , this is still a useful report to run. For longer sales cycles, this report may provide some insight into what times of the month your reps tend to close sales, increasing the accuracy of your future projections.
As it is well known in the sales industry, it is much easier to sell additionally to your existing customers than acquiring new ones. This daily sales report sample is useful to track on a weekly basis since tracking it daily is just too short of a time span to evaluate your strongest and weakest points. When you compare the results of each rep, you can see each rate and educate others to implement the same tactics. That way your sales numbers will grow, but there is a high chance that you will also improve customer loyalty and satisfaction.
This is one of the most important KPIs you can track in a B2B sales setting, first on a weekly basis, and then expand over the months. It basically shows how much is expected to earn per customer, and you can monitor it on a weekly basis to see whether the average is rising or decreasing. The goal is, of course, to keep the lifetime value as long as possible.
Comprehensive sales analytics reports should include the average purchase value. It makes sense to compare this metric with the number of opportunities on a weekly basis since you can immediately spot direct correlations between the two.
In our example of a sales report, we can see the number of opportunities and average purchase value is divided into 3 categories: basic, premium, and professional. The numbers can help you to identify if you need to offer additional incentives to your clients or customers in order to increase your chances to sell higher-end products or services. This is very good for a weekly sales report format. Tracking this metric weekly will let you evaluate the number of unqualified versus qualified leads.
A qualified lead usually is an opportunity, i. The lead-to-opportunity ratio tells you the number of leads you need to stay on track with your objectives in terms of revenue. Once you have a baseline ratio, you know how many leads you need to create to reach your target growth — and at the same time, you have revenue that is predictable.
This reporting example can be assessed with the MQL marketing qualified lead and SQL sales qualified lead , as it interconnects the departments since you need to define which are the most promising prospects that can turn into customers. Over the weeks you can determine which of your potential customers convert the most, and adjust your sales and marketing strategies accordingly. This report displays a straightforward sales KPI that shows how effective each of your reps is at closing their opportunities.
But if these weekly reports continue to indicate the same trend, it could be time to help this rep out. This is one of the most important ratios for a sales team, as it gives a baseline to determine the number of leads the team needs to meet business objectives.
It will depend on each company and industry, but generally, a low lead-to-conversion ratio will alert you to the weakness of your sales pipeline. As one of the most sales-oriented businesses, retailers must also track, measure, and report on important sales values on a weekly basis to be able to get a bigger picture in comparison with daily reports. Our next example is a retail sales report template tracking the rate of return. Whether a big or small business, the rate of return can tell you a lot about what customers think of your merchandise.
No retailer is happy when their products are returned, therefore, tracking and reporting these values on a weekly basis will enable you to decrease this number in the future when you investigate why the goods are being returned, and what can you do to improve these items or your overall offer.
That way, you will be able to compare these values and implement various other marketing activities based on your results.
If you see a specific location outperforming others, see what makes it tick, and invest more resources to grow even further. A daily sales report is a management tool used by businesses, sales reps, and managers in order to extract the most relevant daily sales data such as the number of closed deals, client conversations, opportunities created, and many other sales-related KPIs. Instead, you want to focus more on process metrics.
On a daily basis, your reps are simply going to have some bad days and some good days due to reasons beyond their control. So, seeing that a rep has one low earning day, and then calling them into your office, would be a little premature, and arguably an example of micromanagement. As mentioned, each day in a sales department is different and there are many things simply out of human control.
But having a closer look at your daily sales operations, the better you can conclude what works in your sales process and whatnot. Now we will focus on some examples you can track on a daily basis. And this contains an important lesson about KPIs, even daily ones — they have to serve your overall goals. This is assuming that you are qualifying your leads properly of course, which at times can be easier said than done.
This daily sales report template can be tricky and controversial sometimes since it can vary greatly, based on the type of lead and actual scenario. The optimal response time should be determined after different strategies are tested. That means you should decide when is the right time to react when prospects download a free trial or whitepaper, whereas prospects requesting an offer should be contacted as soon as possible.
After you have your benchmarks, you can track on a daily basis how your sales reps are performing, and what their averages are. That way you can better analyze the effects on your overall strategy. You can track the number of outbound calls made by each of your rep on a daily basis and see how effective they are in their performance and take appropriate measures if there are significant deviations from set targets.
An opportunity is basically a lead that gets qualified, because of the good response and interaction it had — meaning, this is no junk email address nor a fake phone number. An opportunity can be a conversation that ends at a meeting, paving the way to further sales interaction. Valid qualified leads are extremely important to sales as well as comparing the number of opportunities against the purchase volume.
This sales analysis template will show you the potential purchase value of new opportunities and it would make sense to track it daily but also its development so that you can easily pinpoint successful days and try to recreate the processes in the future optimization of your sales funnel.
This is a pretty straightforward report. Quite straightforward, this KPI counts the number of sales performed on the day. This is particularly important for small retailers who have a lot of items with low-added value, and who hence need to close as many deals as possible to make a profit margin. The retail KPIs we will explain next are indispensable in the retail industry. Retailers must track these KPIs since they need to have a daily overview of their operations, costs, and expenses to be able to generate profit.
This is one of a clear-cut daily report that focuses on the number of sales achieved on a daily basis. It is quite important to track, especially in the retail industry, since daily volumes can indicate which days of the week perform best, and how you can use this to your advantage. The goal is to keep your daily sales volumes growing, but don't panic if it starts to decrease - instead, investigate why, and adjust your strategies. Some companies or organizations require a weekly activity report on a project or from its staff.
It usually summarizes what has been done by the team during the week in terms of project implementation or development, and what individual contributors were able to achieve or accomplish during the week. This weekly activity report helps the management understand how each employee performs and how well they are doing their jobs.
It is helpful in identifying the strengths and weaknesses of an employee. Through the weekly activity report, the management is able to assess and make informed decisions in terms of the needed training and development interventions for each staff and in assigning responsibilities to each one. Weekly status report does not have to contain too many details, just enough to make it informative to allow the management to have an overall picture of how the employee is performing.
Sometimes, the weekly activity report may also include a summary of the planned activities of the team and its individual members for the following week. A weekly activity report allows employees to think about how their work will contribute to the overall progress of the project or to the achievement of the team and the organization.
Instead of just reacting to an event, they will be able to establish a long-term perspective on their duties. Take the time to consider what the reader of your report might want to know.
This is easier if the company provided a format or template for the weekly activity report. If there is none, defining the purpose and the readers of the report other than the management will help in determining what the report should contain. Focus what boss needs: Collect all the related data and information that the boss demands, so the report is focused and assists in taking the best data-driven decisions.
Dig out the relevant data as much as possible and organize them well, so you have a background to provide and a ground to play. Make it presentable: Prepare a well-presented report that is pleasing to the eye and easy to absorb. The data should be well presented in the form of graphics and illustration that it communicates the figures well.
Use a graph to depict sales activity. To provide overview opt for dashboards, they help in visualizing the insights to data. Dashboards work in real-time data and always present up-to-date information. Summarize: Provide an executive summary at the end. The summary is key in terms of delivering your point and then gives legitimate findings of your data. As the top management does not have time to go into details, a summary draws major insights and gives a clear picture of the present and questions the future course of action.
Daily sales report: It contains information about daily progress achieved. Daily sales report considers on factors that vary daily and creates a difference in the sales, for instance, number of calls made, talk time, client attained, number of meetings booked, emails sent, and quality of the lead. Weekly sales report: Reports the sales activity on a weekly basis. It helps in keeping track of the productivity and performance of the company week by week, thus providing the picture until the end of the month without waiting for the monthly report to come.
Factors that should be listed in weekly reports are a number of new clients acquired that week, weekly revenue generated, comparing weekly figures, and the phase of client present in the pipeline. Monthly sales report: Monthly reports generally present a broader perspective of sales activity undergone throughout the month.
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