Sales Reports are summarized enunciated outline of sales activities of the sales team. This report is period-specific for the sales managers and management.
Sales reports are the first point of convergence, for the sales management and the market activity. Concisely it highlights the opportunities, prospects, and possibilities of sales. It echoes the health of sales revenue, in another word it is considered as ECG of the company.
There is no room for guesswork in sales, sales reports eliminate the scope for presumptions and speculations. It shows an existent company position and future measurable sales activities.
A Goal Properly Set Is Halfway Reached:
Sales Reports offer invaluable inestimable data of the customers. It gives a complete insight into the customer and the likelihood of closing the deal.
This essential informative report gives a depth analysis of sales activities. On the basis of this necessary remedial steps can be taken to increase the success rate.
Different Types of Sales Reports:
Daily Sales Report (DSR):
DSR is the checklist of your sales team, it shows the tasks accomplished and pending for the day. It's the best methodology for tracking and controlling sales performance and forecasting future sales.
DSR is not the end result of any activity, it's just a daily activity of the salesperson. It shows the number of customers visited, follow-up, and deals that can be closed. It also focuses on calls made and emails sent to potential customers.
This report helps in micro-managing the team and do damage control drills if things are going out of control.
Weekly Sales Report:
A weekly sales report gives the direction where the sales team is heading. This report calls exigency plans to address before any clients and major deals are lost. This report is also viewed by the top management, giving them an accurate picture of the sales activities. Weekly sales reports also provide an opportunity to address the potential problems on a weekly basis, whilst things are still manageable and under control.
Monthly Sales Report:
Monthly reports are way different from your daily and weekly reports. If any issues are not addressed based on daily and weekly reports; their consequences will be shown in monthly reports. Sometimes the damage done might not be repairable. Monthly reports will show the overall team performance.
Stitch In Time Saves Nine:
A good sales manager understands the value of different types of sales reports. Modern sales analytic software and tools will help you in generating timely actionable reports. It will give you real-time analysis and actionable insight. At the same, it will also assist the sales team in performing more better.