You’re driving along when all of the sudden, your gas gage flashes “E.” You have 2 choices. You can ignore it, eventually running out of gas, or you can find the nearest gas station so you don’t end up stranded on the side of the road. In this example, the gas gage telling you that you’re almost out of gas is an insight provided by data. The insight is only useful though if you resolve your looming gas problem by filling up your tank.
In sales, we’re faced with a much more complex, but similar issue: data that we don’t know how to use or act on. Data that we get from our CRM or marketing automation software, while very useful, can be overwhelming. And yet, the best way to identify where the real problems lie is to analyze hard data. As sales leaders and marketers we need to understand how to analyze data in order to make good decisions for our businesses. Otherwise, we’re operating in the dark.
To help solve this problem, we designed Base with meaningful out-of-box reports that drive actionable insights. If you haven’t taken advantage of the robust reporting functionality yet, login to your account as soon as you read this post. If you haven’t tried Base yet, you can start your free trial here.
Forecasted Sales Report
Need to know exactly how much revenue you expect to earn in the next quarter or even the next year? The sales forecasting report provides the total incoming dollars over any given time period. Then it compares these forecasted sales to actual sales. And then, it goes way beyond. Base CRM analyzes the data in your sales pipeline to estimate the likelihood of closing the deals in your pipeline. The potential sales dollars and closure likelihood appear on the dashboard. This reminds you and your sales team where to focus and when to move on. The report also breaks down forecasted sales by the source that generates the lead, so you can track the accuracy of your sources.
Sales Funnel Analysis
This report highlights the status of potential sales in the company pipeline and then provides insight on how to convert a lead into a sale along every step of the process. Using your sales team’s individual histories, it shows you who might be taking too long to close a sale, and who isn’t converting quotes to sales at all. Knowing the strengths and weaknesses of your sales team members can help you get them on the right track to success. It’s Base’s Sales Funnel Analysis tool that can fix your leaky pipeline.
Incoming Deals Volume Report
The incoming deals volume reporting feature of Base CRM identifies the effectiveness of your company’s marketing efforts. Want to know which marketing effort worked and secured new business? Want to know how much business was generated from each of your campaigns? Then this is the place to go. It can compare how each event and email performed against the others, and how these campaigns performed collectively. The report is even smart enough to sort this data by time period, team member and other parameters.
Sales Revenue Goals
Sales are what makes a company’s world go around – which is why they demand setting specific, measureable, attainable, time based sales revenue goals. But it doesn’t do any good to set these goals if you can’t meet them. The sales revenue goals report helps you incorporate these goals into the daily work life for each member of your team. Then it records the results and tells you at a glance who is getting the job done and who’s falling short. You and your team can always check in to view a quick snapshot of where each team member stands against performance goals.
Won Deals Report
This is the screen that can cause celebration by showing how your hard work has paid off. The dashboard tells you how many deals you’ve won and the number of potential deals for each team member. Is the newest hire on your team closing daily? It will also tally lost deals for every individual. Is your most experienced agent getting by only by retaining existing business? Base makes it easy to identify your current superstars and those who need motivation.
For full disclosure, many CRM’s provide information about various aspects of your business. But Base focuses on providing you with beautiful, meaningful reports with little to no data entry. Forecasted sales reports, sales funnel analyses, incoming deals volume reports, sales goals reports and won deals reports offer hard data and direct insights into existing and prospective sales to directly impact your company’s bottom line.
If you’re already using Base reports, which ones do you find the most useful? If you’re not yet a Base customer, you can start your free trial here.