Understanding your sales pipeline is one of the significant factors to meet your goals. You need to keep track of sales metrics like sales cycle duration, number of leads converted, average time taken to convert leads, etc. Generally, this gives you an insight on what works and what doesn't, to meet the average requirements.
Time is an important element in Sales. And with the help of the new Sales Metric reports in Zoho CRM you can calculate the duration of everything, right from getting leads to converting them into sales. With these reports you can focus on the right activities that work efficiently. Zoho CRM's Sales Metric Reports help you with the following:
Lead Conversion Duration - Identify the valuable time taken to convert leads into prospects.
When your organization is spending precious time and money on advertising and marketing to get more leads, that is good. But what's next! As we all know, leads must convert to sales... sooner or later. And the goal of lead nurturing is to keep your prospects engaged and to move them to the next stage in the sales funnel. In all this, you don't want to waste your resources on junk leads and especially the ones who aren’t quite ready to buy yet. Find out if the time and effort spent on the leads is worth it, with these reports.
Sales Cycle Duration - Measure the average number of days that your opportunities take to go through the sales funnel.
The duration of the sales cycle may vary based on the deal size, the sales reps in charge of the opportunities, or the type of business, say existing or new business. This also helps you evaluate the ability of sales reps to negotiate quick payment terms and their skill in identifying customers to pursue and close deals.
Sales Cycle Duration across Owners
Overall Sales Duration - Check the time taken by sales teams to move from the initial acquisition of leads to closing the deal.
Management often requires their sales people to report what works best for them and what does not, as a way of understanding what practices lead to sales. As an important sales metric, the overall sales duration cycle can help you review the performance of your sales reps. It will also give you an idea on the sales and the shortfalls, if any to achieve the quarterly sales target.
Do try these reports and let us know your feedback. If you need any help in generating reports, feel free to write to us at email@example.com