The sales performance report provides companies the sales team’s performance on a leader board. Top-level metrics and graphic bar graphs are used to represent this data.
This report will offer companies with an overview of their sales team’s recent performance as well as past data.
Sales performance reporting aids leadership and management decision-making and is a key information management priority for several companies. This report allows companies to see how well their salespeople are doing. Companies can track results and enhance their sales strategy this way.
Benefits of Sales Performance Report
The following are some of the tangible benefits of sales performance reporting:
If you are a small business with fewer than ten employees and a monthly lead inflow of less than 100, an excel sheet can simply keep track of them. But what happens if your employees increase?
It makes things easier for you as well as your team if you have a CRM that provides real-time sales performance reports. Your sales process becomes more complex as the company grows.
The sale performance report can take your new processes into account and monitor all activities of your sales team. Having real-time reporting allows you to monitor the quality of your processes and, if needed, take remedial action.
Set Realistic Goals
One of your many responsibilities as a sales manager is to set the team’s goals. As your company grows and expands, you are forced to stretch your ambitions to accommodate more projects as more demands come in.
Some companies tend to set unrealistic objectives that are impossible to achieve no matter how hard employees strive.
However, at the end of the day, you would have only worn out your sales team members without meeting the unrealistic goals. With a robust analytics system, however, this would not be the case.
A sales performance report gives you a clear image of how far your sales team can push themselves, allowing you to set a more realistic goal that could be met with a little extra effort.
It’s not unusual to have some salesperson at the bottom of the rankings. With a sales performance report, you will be able to know which salesperson is at the bottom and how long they have been there.
This will go a long way toward assisting you in rapidly determining what went wrong and why, thus making it easier to resolve a lag before it becomes a major issue.
Displaying the sales representatives’ sales performance report can also help to ramp up the heat. By posting your sales representatives’ performance, they get to know how others representatives are doing.
Hence, the pressure tends to increase, and everyone is on their toes, working nonstop to increase their numbers. From one perspective, it may appear to be negative pressure, but it leads to a positive outcome and improved productivity.
Sale Performance Reporting Using Google Analytics
The sales performance report is a sophisticated Google Analytics tool for assessing revenue and overall sales over a specified time period.
Companies can observe whether they are making more revenue year over year, stores’ seasonality, and any other sales trends by viewing the graphical representations of sales performance.
Conversion rate, total revenue, and average order value are the three main metrics shown in the Google Analytics sales performance report. It displays both numerical and graphical representations of the data, making it easy to see significant patterns and specific metric shifts.
Because time is the most important factor in designing this report, companies can choose either a specific day or a specified time period. The major purpose for customizing the report’s time frame is to see if any of these metrics have recurrent time-based trends (for example, greater sales in the second half of the month) and if there is a general trend toward increased improvement.
Along with the main performance metrics shown in the tabs at the top of the report, the sales performance report tracks additional granular metrics. These comprise total shipping charges, total tax charges, the number of units sold, total eCommerce transactions, and total refund amount.
How is Google Analytics Sales Performance Reporting Beneficial?
The sales performance report shows you which days generated the most revenue for your online store. This is extremely useful when it comes to creating customized advertising and marketing campaigns, promotions, and even product offerings.
If the report shows that the majority of the sales occur on weekends, for example, the company may want to retool its advertising strategy to focus on weekend shoppers. If the data shows that the summer months yield the most revenue, the company may retool its product offers for the winter months.
Alternatively, the company may try expanding into new shipping global markets where its warm-weather products could generate revenue during off-seasons.
The sales performance report displays the overall growth of the company’s online stores. As the strongest indication of a thriving business, the company may want to see month-over-month and year-over-year progress across all three metrics (average order value, sales, and conversion rate).
If these metrics appear to be flagging, the company can improve one or two of those key metrics and make it metrics for the next sales cycle.
Alternatively, if the company notices a dip in these key performance indicators following a specific event (say, a site makeover), the company may make improvements to recoup some of the lost sales bases.
How to Create the Report?
The sales performance report is part of Google analytics’ enhanced eCommerce offerings. To access the data, you will need to enable enhanced eCommerce on your website.
Then go to the Dashboard and pick Sales Performance to build the report. Using the drop-down menu, you can change the date range for the report results.
The purpose of sales performance reporting is to show you how well your sales team is doing. This may be in relation to the amount of revenue they bring in, the number of deals they close, or the number of tasks they complete.
Some people are now hesitant to track their salespeople. They do so primarily because they believe they are micromanaging them.
However, these reports are not simply for keeping track of what your team is up to. It’s also about determining how well the method you created is working and whether there’s an opportunity for improvement.
An all-in-one analytic tool that includes all of the necessary reports for a business to prosper. As a result, you have everything you need on one platform, making it easier to manage the team and perform other tasks. It’s a win-win situation for your company.