This is a guest blog from our friends at Dialpad.
Are you looking at developing and modernizing your business with the use of sales dashboards? You can use many different types of dashboards, depending on what data you want to show. We have found 10 of the most useful dashboards you and your team should familiarize yourselves with.
What is a Sales Dashboard?
A sales dashboard is a visual tool that helps you keep track of your data. Whether you are looking at the average time it takes to close a deal or how often your sales team is likely to queue a call, a dashboard can help. Data and analytics can be confusing. But a sales dashboard will show your data in a simple way that is easy to understand.
As a sales manager, you can use a sales dashboard to monitor the performance of your sales team. With the right dashboard, you can create a visual representation of your key sales metrics. Sales dashboards can also be helpful for teams to track their own progress.
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10 Sales Dashboards To Familiarise Yourself With
- Win/Loss Dashboard
A Win/Loss Dashboard shows the overall deals that were closed within a certain period of time. It also shows losses and open or pending sales. These dashboards are useful for tracking sales as they show strengths, as well as areas with room for improvement.
These dashboards are also useful for sales managers as they can track the performance of individuals within their team. Team performance can also be compared to previous periods to measure overall performance.
- Sales Activities Dashboard
The Sales Activities Dashboard will help you learn more about what your employees do during the workday. This dashboard uses charts to show which sales activities are undertaken by each team member.
For example, if your company uses VoIP calling for its sales calls, you can analyze data, such as the duration of calls and the number of phone calls made to secure a sale. Using your dashboard, you can see which employees are more productive and how sales relate to the activities they are doing.
- Time-Tracking Sales Dashboard
This dashboard is another way to track your sales team’s activities. But the Time-Tracking Sales Dashboard looks specifically at how much time is spent on each activity. This can be useful when looking for ways to increase productivity. If too much time is regularly spent on certain activities, you can look into ways to streamline that process.
Time-tracking can also be used to work out how much time is spent on individual clients. For example, to give a more accurate bill to clients who are charged by the hour.
- Product Performance Dashboard
A Product Performance Dashboard looks at the sales of individual products. This is very useful for keeping track of sales so you can create a realistic inventory projection. It should be easy for both your buyers and sales team to use and keep your business running smoothly
If sales have declined, a Product Performance Dashboard can help your team decide which lines to discontinue. It can also help build a bigger picture of trends in different periods. This keeps your business one step ahead with ordering in the future. This prevents surplus stock, selling out of stock too quickly, or bringing in new lines that will not sell..
- Deal Performance Dashboard
If you want to focus your dashboard on sales forecasts, you need to look into Deal Performance Dashboards. These dashboards use data from previously closed deals and current ongoing deals to predict sales for the upcoming year.
This dashboard is also suitable for analyzing the different stages of the deal process. You can track changes to ongoing deals, as well as how many deals each of your sales team has closed in each period.
- Sales Manager Dashboard
This is the dashboard that every sales manager should familiarize themselves with. With this, they can look at day-to-day sales performances, or monitor them weekly, monthly, and yearly. They can use this information to manage their teams more effectively.
A Sales Manager Dashboard ensures that managers can keep track of targets. They can see how their team is progressing and make adjustments if they are not. Larger companies can also track their sales regionally. Being able to analyze regional sales gives managers the ability to measure performance better.
- Sales KPI Dashboard
Key Performance Indicators (KPIs) are goals set by a company to measure its performance. But if you want a clear, concise way to analyze your KPIs with your team, you should create a Sales KPI Dashboard.
The Sales KPI Dashboard should be accessible to the whole team so that they can keep track of their own progress. You can use it during meetings to show areas to work on, give feedback, and help with training.
- Sales Cycle Length Dashboard
A Sales Cycle Length Dashboard is used to monitor how long sales take, from identifying a lead to closing the deal. This dashboard is ideal for teams looking to shorten their sales cycles. You can also look at average sales cycle lengths over certain periods.
Your team can monitor exactly which parts of the sales are more time-consuming and which parts can be easily streamlined. You can also analyze individual team members to see if they have found a better process that the whole team can utilize.
- Sales Conversion Rate Dashboard
A team’s sales conversion rate is how well it converts leads into paying customers. Your sales team may be getting a lot of leads but struggling to follow them through to close a deal. Alternatively, you may be getting fewer high-quality leads with a higher conversion rate.
If you are keen to increase your sales rates, this is the dashboard for you. It can highlight your lead-to-sales ratios, as well as loss rates. A Sales Conversion Rate Dashboard will give you a clearer look at the bigger picture.
- Sales Opportunity Dashboard
If you are looking to expand your business and build on your sales, you need to look at the Sales Opportunity Dashboard. You can monitor how new customers and sales channels will increase your revenue, as well as identify challenges.
For example, is your sales team using all the resources available to them? A potential customer may have a query a call operator can’t answer. Are they using call transferring to redirect the customer to a colleague who will be able to help? Or do they regularly keep customers on hold while they look for answers?
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How to Create Your Sales Dashboard
- Establish why you want to create a sales dashboard: Are you making it to track sales, monitor employees, or is there a specific problem you want to address?
- Decide what sales metrics you will be tracking: There’s no one-size-fits-all dashboard, so you need to know exactly what data you want to show.
- Choose your dashboard: There are many dashboards to choose from, so make sure you are choosing the correct one for your purpose.
- Decide how you want to use the sales dashboard: Your dashboard will be different depending on what it will be used for, who will be using it and what period it covers. You may want to simplify it if your whole sales team needs to use it.
- Choose a sales provider (or do it yourself): If you have the know-how, you could create your dashboard yourself using Excel. But if you don’t have the technical skills to make one yourself, there are many sales tools to choose from
Some examples of popular sales data software providers are Klipfolio, Zoho Reports, Hubspot CRM, and Salesforce.
- Create your reports: If you are using a sales provider, you just need to input the information, and everything will be put together for you. But you will still need to choose how you want your sales dashboard to be laid out. If you are creating it yourself, you will need to create your own charts and graphs.
- Keep it simple: This is not the time for overdesigning. Choose a clear layout that is easy to read. You need to think about how the sales dashboard will be accessed. Will employees use their phones, laptops, or desktop computers? Can the sales report be seen clearly on small and larger screens?
Your Sales Dashboard
Sales dashboards are a visual tool to enhance your business. It’s not just about data. Dashboards assist with employee communication, reaching targets, and finding problems as they arise. You should be asking yourself exactly what you want from your sales dashboard.
Keep your dashboard simple, clean, and clear. It should be easy to read and interpret by anyone on your sales team. Don’t worry about pretty colors and overcomplicated graphs. Make it accessible to everyone.
The most important thing to think about when creating your sales dashboard should be whether it is user-friendly. A sales dashboard is an example of modern data architecture, meaning it should be designed and structured well. It should be a reliable way to access and process data.
About the author: Jenna Bunnell, Senior Manager, Content Marketing, Dialpad
Jenna Bunnell is the Senior Manager for Content Marketing at Dialpad, a call recording software and AI-incorporated cloud-hosted unified communications system that provides valuable call details for business owners and sales representatives. She is driven and passionate about communicating a brand’s design sensibility and visualizing how content can be presented in creative and comprehensive ways. Check out her LinkedIn profile.