Their report example works great if you want to improve your understanding of your funnel, and if you haven’t been tracking a lot so far.
The very least your sales funnel report should contain is:
Sales funnel stages
In order to be able to review the information at a glance, you can even put it in a neat graphical format with a chart.
By the time you’ve reviewed it, you’ll know exactly which stage holds the most opportunities. It’s easy to optimize accordingly after that.
2. Revenue matters: highlight it with your sales funnel report
While opportunity counts broken down by stages matter, what matters most is the end goal: your revenue, and how you earn it.
Our next example from Gary Smith depicts a sales funnel report that incorporates:
Sum of amount
When you create such a report, you can easily see the revenue you are bringing in (or failing to bring in) at each stage.
Additionally, you’ll be able to make more accurate financial projections when you know how much money you’ll likely earn in a given time.
Creating such a report won’t take up too much of your time. However, once you’re done, you’ll know exactly what to do next.
3. Funnel leakage
When you’re struggling with funnel leakage, the most important thing is defining where the leakage occurs.
However, the main prerequisite for this is tracking your sales funnel stages and revenue generated through each.
This Trump Excel sales funnel report example sums up everything you need to know about your leakage.
It shows you exactly how much money leaks through your funnel – stage by stage. In this particular example, we can see that the most notable decrease is between the identification and qualification stages.
They may be different for your sales team. However, you need to see the hole to plug the leak.
4. The fluidity of your sales funnel
In many ways, a sales funnel is like a clock; all the mechanisms have to work seamlessly in order to tell you the time.
If your customers feel like they are naturally progressing through each stage (and if your chosen methods are efficient), you will be able to gauge it from a phase-by-phase funnel conversion report.
The folks at Chandoo are using the two major elements to every sales funnel report (the value of opportunities/opportunities count, and the phases). However, they are visualizing the phases, as well as adding a phase-by-phase conversion rate.
This way, they can see that the worst performer is the closing stage; from which only 48% of prospects successfully convert to customers.
5. Team (member) performance
In addition to monitoring your overall results, you can also use a sales funnel report to monitor the performance of your sales teams.
Spinify dashboards not only motivate employees; they track their performance and progress.
After setting the KPIs that matter most to your company and your team, you and individual team members will get automatic achievement notifications whenever they perform actions which bring you closer to your target.
This way, you aren’t just getting a sales funnel report. You’re actively improving the figures you’ll see on it.
6. Holistic view of your sales performance
If you are ready to take your sales funnel report game to the next level, you’ll need an executive sales funnel dashboard.
Not only will it include opportunities and stages; it should also include team performance, closed deals, and so much more.
This Salesforce report example may seem complicated, but it is actually allowing you to understand:
The types of deals you’re closing at certain stages
The performance of your sales reps
Key clients you should focus on
7. Double-down on what works
Finally, a sales funnel report shouldn’t just help you identify what’s wrong.
It should also help you see and repeat what you’re doing right; be that certain actions or phases that simply win customers over.
This Salesforce example is particularly good for getting a detailed look at every phase of your sales funnel.
With a report like this, you’ll be able to see which actions within each stage are driving the most success. And when you can see it, you can repeat it.
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