All of us have experienced to be in a meeting wherein the sales manager would present a complex sales report. By the time the meeting ends, you will have less idea of how the sales is performing. Let’s say for example you are already a sales manager and your company expect you to keep them well-informed of how your team is doing. You must also know that the sales department serves as the engine of the company. All the information that you will be providing in your sales report will help in fueling major decisions particularly in ramp up hiring, pay bonuses, etc. It is always compelling or pivotal that you will be able to create a clear and concise sales report that will be able to express the most essential information to keep your company grow and achieve success.
What is a Sales Summary Report? By definition, it is the type of document that shows the sales contained within a store for user selected date range. This report can be made up of a group of sub-reports to which it will be based on the same date range. The sales summary is designed to present the sales to be displayed that do not have any discounts applied. There is what we call a “round difference”. What is a round difference? It is the difference the sum of the products taken for the date range and the sum of the net totals which will be shown in a receipt.
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Steps to Creating a Sales Summary Report
- Know your audience – this type of information is relevant to you, but would it be necessary for the management team too? Before you start creating your sales summary report, you have to consider your audience first and ask what type of information they need. This will help you be guided on what type of data to provide.
- Choose the right information to share – once you have already identified the primary audience for your report, you have to decide next on what type of data will give them a more accurate vision about your team’s performance. It can also help you make decisions that will keep the company stay on track.
- Decide on a time period – figure out the time period that you want to focus on because the length of time will help you to determine what your report is focusing on.
- Choose the right visuals – decide how you are going to present the information. The main purpose of a sales report is to communicate the information in a manner that it will be more understandable and actionable.
- Gather your data
- Cut out the fluff
- Add context – one of the responsibilities you have in the management team is to put the numbers into context. You have to ensure that you add the contexts to your report so that your team can be able to determine the trends. Take note that your management team do not have much insight with regards to the sales operation.
What are included in the recommendations for basic sales reports?
According to Suzanne Paling, it is the daily call report, productivity report, the pipeline, the sales forecast, and the long-range sales forecast.
What are the typical pipeline phases?
Phase 1 is when a decision-maker expresses his/her interest in terms of the product and service, phase 2 is when the salesperson finally meets the decision-maker, phase 3 is when the decision-maker participates in the product demonstration, phase 4 is when the proposal is already submitted, and phase 5 is when the sale is closed or lost.
If you want to see more samples and format, check out some sales summary report samples and templates provided in the article for your reference.
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