One question that anyone who is into eCommerce should not be asking is, “what is a sales dashboard?” The sales dashboard is one of the most innovative tech advancements in the marketing scene. That coupled with the other eCommerce solutions online, you are guaranteed to easily have an explosive business campaign.
To put it into simple terms, a sales dashboard is a digital tool that shows real-time sales data. The best part is that the dashboards are quite simple and do not require much expertise to interpret. We will be delving into that a bit later on. First, let us check out how dashboards work.
How do sales dashboards work?
The working principle of sales dashboards is quite simple. All you have to do is to set it up to collect data, and the dashboard will run the analysis and offer a real-time data presentation that is concise and informative. The algorithm used in creating sales dashboards is a marvel. If you were wondering how some of your competitors always seemed to be a step ahead in the sales department, chances are they probably have a couple of sales dashboards.
One thing that you might not have known, though, is that there are several sales dashboards available. Some are more profound than others, but they all seem to provide the result, which is more sales and a smooth business. What types of sales dashboards are available? Before we go down that road, we have to assure you that there is a sales dashboard made just for you. Let's take a look and see which sales dashboard will give you the best results in your line of business.
Best sales dashboards examples
Sales dashboards show a whole menu of sales metrics. One thing that we know is that, regardless of your business, some metrics are more important than others. It means that rather than getting a bunch of sales dashboards, you can easily select the sales dashboards that give you the information that is important for your business. Some available sales dashboards examples include the following ones.
Remember back in the day when companies used to select their employee of the month based on supervisor goodwill? Well, that seems to be history in most companies' sales departments. The dashboards of Sales Leaderboards give real-time data on how different sales reps are performing in terms of sales. The leaderboards are calibrated to show the information that is essential in your employee evaluation.
You can calibrate your sales leaderboard to show revenue, the number of clients converted, and averages for any metric you choose. The freedom that comes with the sales rep dashboard is unrivaled, and the fact that you can fully customize the dashboard to show whatever metric that has to do with your team's performance pretty much makes it a multipurpose tool. The sales leaderboard helps in decision-making and increasing sales. It is a huge blessing for the HR department.
Product performance dashboard
Now, this is the sales dream in action. Most companies have multiple products. Manually trying to keep track of product progress and evaluation performance can be quite taxing. And don’t forget the possibility of a pool of inaccuracies! Now, the product performance sales dashboard is a perfect solution to that problem. Product performance is important overall, and, as part of the product life cycle, evaluation is essential. The best way to undertake product performance evaluation is using the product performance dashboard.
With revenue per product metrics, COGS per product, and even sales campaigns for product metrics, making decisions whether to discontinue promotion on a product or to invest more won't be difficult. The product performance sales dashboard is exactly the bordering difference between a successful product sales campaign and a brittle one.
The product performance dashboard is customizable. Depending on the service provider, you can get it calibrated to show exactly what metric you feel is essential in your product evaluation. The best part about the product performance dashboard is that if you feel like integrating a dashboard with your whole setup without testing it out, you can start with one product and see how well it fares. Then, it's up to you to decide on whether to get the whole business on board (it is a no-brainer, though, you will always decide to get a sales dashboard after testing it out).
Sales conversion length dashboard
Converting sales is the primary goal of any marketing department. If money has been invested into sales, the only expected outcome is a hike in sales. The sales conversion dashboard is somewhat the perfect tool to use to determine your turnaround time on your sales and marketing strategies.
The sales conversion length sales dashboard quantifies and rates the time it takes for your business to turn leads into clients. It is essential information. It can easily determine whether the pace at which your sales tactics are bringing in customers is perfect or needs a bit of tweaking.
Remember, it does not need to be too slow. That way, you will stir up “corporate boredom.” At the same time, you need to ensure that it is not a bit too quick. The last thing you would want is for potential customers to feel your marketing is too pushy or rather bullish. It is the best way to ensure that your business is taking on marketing at a rate that won't push your customers away. To do that, you need a sales conversion length dashboard.
Sales KPI dashboard
We have talked about the several types of dashboards available, and all of them are pretty used and yield amazing results. The sales KPI dashboard, in a way, tends to bring all the dashboard examples we have been discussing in this article in one place. The sales KPI dashboard is practically a dream sales dashboard, and there’s a couple of reasons why.
Sales KPIs that are key performance indicators show how the business is performing in terms of numbers. These are the essential numbers, the headlines of any business. What are these KPIs? Several indicators are key whenever people audit the performance of a business. The main one being total revenue. Total revenue shows the total amount the business is racking in and a pretty clear picture of how the business is progressing. The fact that total revenue can be tracked quarterly or monthly means that you can easily put a number on the company progression, which is quite amazing.
Profit margin and sales growth are also some key metrics that are part of the sales KPI dashboard. Yes, you can see in real-time how big a chunk of the revenue is that your business is getting. It means you do not need to be punching a calculator down frequently to determine whether your business is profiting or is hitting down the negative road. Amazing, right?
The sales performance dashboard is by far the most popular sales dashboard. The main reason for this is for most companies, KPIs are enough to help in decision-making. The other fragments of data are essential, but it is difficult to conclude them. With the sales performance dashboard, it's quite different. A general overview of business success can be drawn from there, and a conclusion can be made. If you get a sales performance dashboard, sales will pop. If you want a single sales dashboard that gives you all the information you need, then this is right here.
Sales performance dashboard and sales KPI dashboard. Are they the same thing?
In the sales dashboard world, sales dashboards and sales KPI dashboards tend to be used interchangeably. The reason for this is they all mean the same thing. The sales performance dashboard represents the business's key performance indicators. Because of that, most people tend to refer to the dashboard as the sales KPI dashboard.
These sales dashboard examples are some of the best, but there are several others that we have not mentioned that will work just as well.
Choosing a sales reporting dashboard
When you are choosing your sales reporting dashboard, there are several factors you have to consider. Several elements will make your business amazing. Here are some tips on the elements you have to look out for when choosing a sales reporting dashboard.
Accessibility is one of the main elements you need to consider when creating and setting up a sales dashboard. The sales dashboard shows the progress of the business. It means that allowing people to easily access the sales dashboard will give the motivation the team needs. Remember, business is a team effort. If everyone can see how the company is progressing, they are most likely going to put in a lot more effort and work for the company’s success. Most companies might be skeptical, especially when showing people they work with how much money they are making. If this is your fear, though, then you can always opt for a sales dashboard that hides the information you deem to be sensitive.
Yeah, we know that with sales dashboards, numbers are everything, but that does not mean you have to essentially ignore how your dashboard looks. Such an approach will make it easy to understand the data. The main reason why you choose to have a sales dashboard is to understand the data quite easily.
One thing that tends to make dashboards unappealing and difficult to understand is clutter. Having a large number of metrics on your sales dashboard will make it difficult to understand - quite an eyesore. The very moment you decide to have more than eight metrics on one dashboard, just know that you have already transcended the limit. We recommend that you limit your metrics on one dashboard to less than eight. Make sure that you choose power metrics, though.
Pick a reliable service provider
If you do decide to get a sales dashboard, you will need to pick a reliable service provider. Setting up a sales dashboard needs quite a large amount of work. That means you would not want to be hopping from one service provider to the next. It means that you have to make sure that you pick a trusted provider with a proven track record.
We have already highlighted that a sales dashboard is data-driven. It means that you might need to pick a service provider that gives an inclusive package with visualization tools. One tool that can sync your information and create sales dashboards is CRM. It is not the only tool available, though. There are several other tools that you can use to create sales dashboards. It is essential to make sure that you do not go cheap. In most instances, even if a service provider might seem a bit expensive, chances are, you will enjoy the service. Don’t go cheap! Always make sure you choose the best service.
Do you need a sales dashboard?
We have highlighted how the service works. The last question we have to answer is whether having a sales dashboard is essential. Well, the answer to that question is quite obvious: Sales dashboards are important. It is one of the best things that you can do for your business.
Having a sales dashboard allows you to have on-the-go information on how your business is succeeding. On the business scene, information is everything, and sales dashboards give you all the information you need. It makes it an essential tool in the business world.
A sales dashboard gives you high-quality analytics. You would need a lot of money if you decided to hire human capital to do it. If you thought that getting a sales dashboard would be expensive, trust on this one: It is cheaper than the alternative. The fact that you can get B2B sales leads in your sales dashboard is also another good reason to get one.
These two reasons should be enough to convince you that having a sales dashboard is an essential business tool. Business decisions require a lot of information. We can't emphasize this enough.
Sales dashboards are great on their own, but getting business-to-business lead generation with Belkins along with your sales dashboard will propel your business to success. Try it today.