Running a sales organization is a lot more complicated than fielding calls, sitting at a desk, and answering emails. Effective sales leaders know that at the end of the day, it’s not necessarily about the number of calls or emails, but rather the quality of each interaction and how those activities translate into dollars.
That’s why many organizations run a daily sales activity report. We’re going to dive deeper into what should be on your report to give you the most accurate picture of your sales department each day.
But first —
What is a Daily Sales Activity Report?
By definition, a daily sales activity report is a data-driven report that highlights specific metrics from a single day’s work. Think of it as a report card that shows you exactly what activities were performed in a day. Sales leaders use daily activity reports to monitor productivity, make predictions, and motivate performers, among other things.
It’s not enough to see a buzzy sales department and believe it’s generating revenue. They need proof of how each rep contributes to the company’s greater goals so they can make accurate forecasts and take action when the pieces just aren’t coming together.
Your daily sales report metrics will be unique to your organization, but here are four key components that most companies find valuable:
1. Number of Prospects
The number of prospects refers to the total number of potential customers currently in your sales pipeline. This may be a combination of prospects who are actively considering your prospect, those who are about to close, and those who have recently reached out for more information.
You can even take this metric a step further by reviewing the number of hot, warm, and cold leads, the lead quality score, number of prospects by rep, and where each prospect is in the deal pipeline.
2. Deal Size
In most sales organizations, no two deals are created equal. You may have five customers on the hook for your lowest priced service, but another customer who’s interested in your most expensive service could be worth more than the other five combined.
In a daily sales activity report, the average deal size represents all the deals in your pipeline. Again, you may be able to dial in closer to figure out the average deal size of those most likely to close.
Looking at deal size on a daily basis can help you deliver accurate forecasts to the higher-ups, plus it may help you to identify trends or develop a strategy on how to proceed.
3. Closed Deals
Do you know how much revenue your sales department generates on a daily basis? Using a daily sales report can help you know with certainty.
The report should show you at a glance how many deals were closed that day, their average worth, and the total amount of revenue they generated for the company. Many organizations have daily sales goals they need to meet to stay viable in the marketplace, and adding this metric to your sales report can give you direct insight into whether or not you’re meeting this goal.
4. Sales Rep Productivity
Not all reps are created equal, either, and you can tell a lot about a rep’s performance and work ethic in a daily sales report.
If a rep struggles to meet their sales quota, their productivity compared to other reps could be to blame. Are they making the same number of calls as an average producer? Are they sending the same number of emails or have worked with the same number of prospects?
If their productivity metrics are lower than a successful sales rep, then you know they’re simply not doing enough to bring their numbers up. However, if their numbers are higher than the organization average, it could be that the quality of their efforts is suffering. If they’re nearly equal with an average sales rep but their sales just don’t reflect the amount of work they put into it, leaders may need to investigate where they’re missing opportunities to close more deals.
A daily sales activity report shouldn’t be used as a tool to spy or micromanage, but it can be a helpful piece of data that reveals coaching opportunities to help your rep (and entire organization) perform better.
Customize Your Daily Sales Activity Report with LeadSquared!
Do you review a daily sales activity report? If not, then you already know the benefits of making it a daily habit. And if you are, now you know exactly what you should be looking for and why it matters!
LeadSquared makes it easy to customize and generate daily sales activity reports with just a few clicks. You get to see the information that matters most to you and tune out the rest that can create confusion and complexities.
Learn how to create customized reports with LeadSquared by scheduling a free demo today!