Anything can be tracked. And once it is tracked, it can be improved.
Sales and marketing activities are no different. Unfortunately, filling out reports is often viewed as one of the least satisfying aspects of selling.
Smart sales professionals understand they must understand and control their own sales activities to maximize their production. They keep accurate records and review expense, sales, and call reports on a regular basis. They carefully monitor their own performance and watch trends and averages closely.
For the smart sales professional, it is one of the most important aspects of the selling process. Reviewing their sales reports at least once a month gives them early signs of changes in buyer behavior, the effectiveness of advertising and sales methods, any reduction in sales efficiency, and much more.
The reports your business needs will vary depending on the complexity of your marketing and sales. Here is a sample of the more important sales reports that should be reviewed.
- Salesman expense and travel reports.
- Sales activity.
- Call reports.
- Prospect reports.
- Proposal reports.
- Average order size.
- Average cost per call.
- Average cost per sale.
- Direct selling expenses-to-sales ratios.
- Number of new accounts opened.
- Number of orders taken.
- Number of canceled orders.
- Number of sales calls made.
- Order-to-call ratio.
- Percentage deviation from last year’s sales.
- Percentage deviation from sales quotas.
- Ratio of new accounts to established accounts.
- Total sales volume.
- Other reports specific to your business.