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Define  Your  Reporting  Requirements       To  manage  your  sales  process  effectively,  you’ll  need  to  capture  each  prospect’s  contact  information  and   update  the  record  as  the  prospect  moves  through  the  sales  process.           Contact  Management  or  Customer  Relationship  Management  (CRM)  software  is  designed  specifically  to   manage  prospects,  leads  and  customer  data.    There  are  many  different  levels  of  CRM  software-­‐-­‐from  seven   figure  enterprise  deployments  to  simple,  inexpensive  solutions  for  small  teams.         In  this  exercise  you’ll  determine  what  data  to  track  and  the  reports  to  produce  to  help  you  effectively  manage   your  sales  process  throughout  the  year.    

Summary   EXERCISE   SUMMARY  

When to  Address  

Who Should   Participate     Where  to  Use  the   Results     Why  it’s  Important  

After  you’ve  defined  your  sales  process  and  the  conversion  percentages  at  each  step       Marketing  and  sales  leaders     IT  department     Use  your  results  in  your  revenue  forecasts,  marketing  campaign  projections,  sales   management  and  marketing  plan  &  budget.  

Good reports  make  it  easier  to  share  concrete  projections  and  results  and  identify   and  improve  problem  areas.    

You’ll need  good  reports  for  sales  management  and  to  improve  areas  of  your  sales   What  Builds  Upon  it   process.       A  couple  of  hours  to  a  few  days,  depending  on  your  situation   Timeframe  to   Completion       Potential  Business   Impact  

Low to  Medium    

Sales Process  „  Define  Your  Reporting  Requirements

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Deliverable

You’ll determine  the  reports  to  run.    

Next Steps  

Determine your  reporting  requirements.    

Target  Completion  Date  

PARTICIPANTS                           TASKS              

PERSON RESPONSIBLE              

DUE DATE              

Notes                        

Sales Process  „  Define  Your  Reporting  Requirements

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Define Your  Reporting  Requirements      

What to  Complete      

1. DETERMINE  PIPELINE  DATA  TO  TRACK   2.  DEFINE  REPORTING  REQUIREMENTS      

Where it  Fits  in  Sales  Process     Determine  Your  Current  Selling  Effectiveness   Define  Your  Customers’  Buying  Process   Determine  Sales  Tools  &  Literature  to  Deliver  at  Each  Step   Define  Measurement  Criteria   Determine  Conversion  Criteria   Set  Revenue  and  Customer  Goals   Calculate  Pipeline  Requirements  to  Meet  Goals       Determine  Pipeline  Data  to  Track   Define  Reporting  Requirements       Diagnose  Sales  Process  Problems   Determine  Solutions   Further  Define  Qualified  Leads      

1. DETERMINE  PIPELINE  DATA  TO  TRACK  

Most  likely  your  sales  process  data  will  reside  in  a  customer  relationship  management  software  application.   Populate  software  for  SMEs  are  produced  by  vendors  like  Salesforce.com,  SalesLogix,  ACT!,  Right  Now,   SugarCRM,  Microsoft  CRM  and  niche  players  like  Zoho  CRM,  Entellium  and  InfusionSoft.     The  Customer  Relationship  Management  section  can  guide  you  through  the  evaluation  process  if  you  need  to   add  CRM  or  update  your  existing  software.  You  can  also  create  your  own  tracking  system  as  long  as  you’re   capturing  and  reporting  on  important  metrics.     Here  are  the  basic  requirements  to  track  your  success:    

Sales Process  „  Define  Your  Reporting  Requirements

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REQUIREMENTS Stores  the  contact  information  for  every  prospect   that  enters  your  pipeline     Stores  the  source  of  the  lead  so  it  can  be  tracked   back  to  specific  marketing  campaigns     Stores  multiple  contacts  at  the  prospect  company   and  identifies  who  plays  what  role  (i.e.  decision-­‐ maker,  influencer)     Contains  a  field  to  identify  the  last  stage  the  lead   reached  in  the  pipeline     Contains  a  field  to  mark  the  lead  as  active  or   inactive     Contains  a  field  to  mark  the  last  activity  date    

IS YOUR  CURRENT   SOFTWARE  CAPABLE?    Y    N    TBD  

Y  

N

TBD  

Y  

N  

TBD  

Y  

N  

TBD  

Y  

N  

TBD  

Y  

N  

TBD  

Summarizes the  number  of  active  companies  and   inactive  companies  that  reached  each  stage     Enables  you  to  estimate  projected  revenue  for   the  account  

Y    

N    

TBD

Y    

N  

 TBD

Enables you  to  project  expected  revenue  by  time   period  based  on  its  stage  in  the  process  and  the   probability  that  an  account  will  close       Aggregates  data  so  that  a  manager  can  review  it   for  the  entire  sales  team,  individual  reps,  certain   territories,  etc.     Tracks  activities  so  a  manager  can  see  what  is   happening  with  an  account     Captures  a  reason  the  account  became  inactive      

Y    

N  

 TBD

Y    

N  

 TBD

Y    

N  

TBD

Y    

N  

TBD

NOTES                                                                            

Now,  outline  the  activities  necessary  to  complete  your  requirements.  Can  you  internal  staff  handle?  Do  you   need  to  bring  in  outside  IT  resources?     REQUIREMENT  

Sales Process  „  Define  Your  Reporting  Requirements

ACTIVITY NECESSARY  

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REQUIREMENT

ACTIVITY NECESSARY  

                 

                 

What  is  your  conclusion?  Can  you  proceed  with  creating  reports  from  your  existing  system?  You  may  also   want  to  create  a  schedule  to  add  additional  reporting  capabilities.                

2.  DEFINE  REPORTING  REQUIREMENTS    

After you  develop  good  reports,  use  them  consistently  and  focus  on  continuous  improvement  to  produce  the   best  results.     Here’s  a  list  of  basic  reports  and  suggested  frequency  for  review:     SUGGESTED  VIEWS   REVIEW   You  should  be  able  to  break   FREQ   NAME   EXPLANATION   out  this  data  by  these   Status   (Wkly,  Mo,   variables  (check  if  you  need   Q)   them)   Calculates  your  anticipated  revenue      Sales  rep   Monthly        Have     Revenue   based   o n   t he   c onversion   r ates   a nd       C ustomer   s egment        Need   Forecast   number  of  prospects  currently  at      Product   each  step  of  the  sales  process.          Source  of  lead        Other     Lists  or  summarizes  the  prospects    Sales  rep   Weekly      Have     Pipeline   that  have  reached  each  stage  of  the    Customer  segment      Need   Report   sales  process  and  compares  them    Product   to  your  goals.    Source  of  lead  

Sales Process  „  Define  Your  Reporting  Requirements

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Conversion Report  

Leakage Report    

New leads  by   source  

Other  

This  report  should  also  break  out   “new  entries”  for  the  period  as  well   as  movement  among  existing   prospects.     Of  the  prospects  that  have   cumulatively  reached  each  step,   this  report  calculates  the   percentage  that  move  to  each   successive  step  in  the  sales  process,   then  compares  those  percentages   to  your  goals     Of  prospects  that  are  no  longer  in   the  pipeline,  this  report  breaks  out   the  reasons  prospects  “leaked”  

Sales  rep    Customer  segment    Product    Source  of  lead    Other  

Monthly or   weekly    

   Have        Need  

Sales  rep    Customer  segment    Product  

Monthly or   weekly  

 Have        Need  

 Have        Need  

Source  of  lead    Other   Summarizes  how  many  leads  were   generated  by  each  source    

 

See  85-­‐C  for  a  sample  pipeline  report.       REPORT  TO  CREATE  

USE

         

         

Notes              

Sales Process  „  Define  Your  Reporting  Requirements

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Define your reporting requirements  

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