Last time, we discussed using dynamic dashboards to look at related data from the perspective of one or more particular values, such as margin by product group. Continuing the conversation, if you are not in a position to manage your business using your data, let’s get started!
Traditionally, trend reporting is seeing input and/or a forecast over time on a line chart. However, I want you to break out of that ho-hum approach to take a closer look at whether your team has been spending its time wisely. Use data to allocate your resources going forward. This may mean reviewing data related to non-traditional reporting entities, such as suppliers, product or SKU, target customers … you get the idea.
In many cases, it’s useful to compare two (or more) values, such as sales vs. margin. Here are the sales, margin and goal in a “Quotes by Supplier” report from Selltis CRM:
Note that with a click of an icon (top right of window), we can flip the chart to review the data. Particularly troubling (an opportunity?) is the month where revenue went up, and margins down.
This leads us to the discussion on exception reporting, which is about identifying specific trouble spots or areas for opportunity. In addition to the above example, exception reporting allows us to view lists like “Opportunities over $75,000 by territory or product group.” Another exception report may include making sure “leads not worked in two weeks by user and/or by source” are reviewed.
Wow – in this chart, we see that most of our quotes are open for more than 179 days, or six months (large column on the right):
Quotes Open by Date Created/Duration Open
But we win most of those that are open 30 days or less (large column on the left) … this highlights an opportunity to manage our business more effectively with significant results!
Quotes Won by Date Closed/Duration to Close
At a Glance
It’s important to measure input to realize your desired output (for example, converting more quotes to sales, growing margin, etc). Consider analyzing the following through pre-built dashboards in your CRM:
- What’s worked?
- What hasn’t?
- Where are we spending our time?
The tools available to you include:
Trends analysis – usually compares time periods
Exceptions reporting –
- For example: “Leads or opportunities are falling through the cracks.”
Analyze:- Opportunities over $25,000 by territory
- Leads not worked in two weeks by credited user or by lead source
As a review, consider these categories for analysis in Selltis CRM:
‘Where We’ve Been’ or Input Trends by:
- Product analysis and profiling
- Vendor/principal analysis
- Territory/region analysis
- Division/product group analysis
- Quote analysis
- Lead qualification
- Billing by customer and location
- Margin versus top line
Or consider:
What Lies Ahead or Forecasting by:
- Salesperson
- Vendor/principal
- Product/product group/division
- Territory/region
or, a combination of these categories.
Give us a call if you have any questions on how to use trend or exception reporting in your business: 985-727-3455