It is not enough to use CRM. The Customer Relationship Management system provides several valuable insights for your company, but you need to know how to use them strategically . Only then will the sales team be able to extract the best information and leverage the results of your business.
In this article you will learn:
What are the main CRM reports?
how to use the reports of the chosen system
Happy reading!
What are the main CRM reports?
The reports available in the CRM system will depend on the tool you choose. Despite this, most offer basic reports. They are:
Sales reports
Sales reports include pipelines, target reports, and revenue reports.
Campaign reports
Campaign reports include email, landing pages, and lead sources.
Customer Reports
Customer reports include purchasing patterns, demographics, and profitability data.
According to a study conducted by Forbes, sales teams spend only 18% of their time using CRM technology. There is much more to be gained from the system!
The basic reports do a good job of providing insights that can be gathered from CRM . But if you want to get the most out of the system, you need to go further.
Main reports to be extracted
Profitability
Profitability reports allow you to analyze where the money you earn is coming from. These malaysia phone number example insights allow you to understand which customer profile contributes the most to your business's revenue at the end of the month and which ones are the most loyal.
Furthermore, by analyzing this type of report, it is possible to create strategies to reach customers who have not yet become loyal.
Sales funnel
Reports focused on the sales funnel allow you to understand bottlenecks in the funnel and which leads are not moving towards closing the purchase.
This type of report is especially useful for the marketing team - but it's important here that the information is clear and available to both sales and marketing!
Sales forecast
Need accurate information about your business revenue? Sales forecast reports can project your business’ future revenue on a monthly or quarterly basis.
The great advantage of these projections, if made accurately, is that they are useful for defining goals for the sector and for monitoring strategies. They also facilitate decision-making, which tends to be more accurate.
Goal progression
With your sales forecast reports in place, it’s time to analyze the progress toward your goals. This type of report evaluates how each department is performing against the goals you set earlier.
In addition to facilitating decision-making, goal progress reports are also useful for motivating the team, making communication clearer and visualizing the effectiveness of campaigns carried out.
Sales conversion
Do you need to evaluate how many leads (potential customers) have converted into consumers? With an effective CRM system, this is possible!
This type of information shows the team where there are bottlenecks in the strategy and provides insights on how to fix them. It is worth remembering that CRM allows for a global view of the business - so sales conversion reports will also be useful when analyzed with sales funnel reports.
Sales cycle
Sales cycle reports provided by your Customer Relationship Management system help your team understand what types of variables are accelerating the sales cycle, as well as strategies that are potentially holding the cycle back.
It is also possible to understand the average cycle length and detail sub-metrics within the reports. By investing in relationship solutions, it is possible to enhance the work of the sales team and build customer loyalty – the best return a business can have!
All of this is easier when done by someone who understands. Here at MATH CRM, our processes have been tested on over 200 brands and 20 countries and we can help you use technology to your advantage with a CRM system that truly meets your needs.
Want more results? Click here and let's understand together how to solve your business challenges.
CRM: main reports your company needs to extract
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