What is a Sales Report?
A sales report, also known as a sales analysis report, is a document that summarizes a business’s sales activities. This report typically includes information on sales volume, leads, new accounts, revenue and costs for a given period. It may also analyze this information along each step of the sales funnel and indicate your sales team’s performance (or any gaps therein).
These reports might help your company modify its sales approach and other growth initiatives. They can provide insights into sales methodology successes, predictions of future sales data, analyses of performance compared to previous periods, and greater understanding of customer motivations.
Key takeaway: A sales report summarizes all your company’s sales activity and offers meaningful insight into what your company should do differently.
What are the different types of sales reports?
No two sales reports look exactly the same. Different types of sales reports focus on different sales metrics, needs or strategies. These are some of the report types:
Sales forecasts. These reports predict the number of sales your team will make in a given period. You can use them to anticipate seasonal slowdowns or plan for issues that might affect business.
Sales funnel reports. These reports show how close a lead is to buying your product or service. Sales funnels help you understand how to best nurture leads and, ultimately, convert them into customers. By comparing back-to-back sales funnel reports, you can identify weaknesses in your sales pipeline.
Conversion reports. These reports resemble sales funnel reports in that they assess the progress of leads along the sales funnel, though they look specifically at the conversion of leads to customers, not the status of leads along the funnel. A standard conversion tracking report includes information about contacts, leads generated and qualified, and wins, with period-to-period change rates indicated as well.
Opportunity score reports. Opportunity score reports are based on the Einstein opportunity score. This metric, which artificial intelligence determines, rates leads from one to 99, where a higher score means a higher likelihood of a sales win. These reports are useful for planning how to divide your team’s time pursuing leads.
Upsell and cross-sell reports. These reports detail the number and value of items upsold or cross-sold to customers. Your team can review these reports to identify future upselling and cross-selling opportunities or flag certain products and services as especially suited for these sales approaches.
Sales call reports. These sales reports concern calls placed to leads, prospects and customers to encourage purchases. Through these reports, you can gain insights into your reps’ performance and your leads’ qualities.
Sales reports can be set to various frequencies and tied to key performance indicators (KPIs), helping you to monitor your success over time. These are some common frequencies:
Daily sales reports. A daily sales report can track KPIs such as a rep’s number of daily calls and leads generated.
Weekly sales reports. A weekly sales report can track KPIs such as the entire sales team’s deals closed or revenue earned.
Monthly sales reports. A monthly sales report can provide a longer-term overview of the metrics tracked in either a daily or weekly sales report.
Annual sales reports. An annual sales report is an especially lengthy, detailed version of a monthly sales report. It may be the most useful for determining a subsequent year’s sales quotas. It can also help you address sales management issues, indicate seasonal fluctuations, observe the impacts of marketing campaigns, and identify especially successful sales reps.
Key takeaway: Several sales report types exist, measuring different KPIs and running at different intervals.