article | August 1, 2011
Sales Performance Management: 4 or 5 Steps to Create a Dashboard
1. First, determine the key questions that the stakeholder of this dashboard would be asking. For example, if this is a Sales Rep dashboard for a hunter working in channels, they might ask key questions like this:
2. With these questions in mind, determine what informaiton will answer these key questions. Continuing the example, below are possible pieces of information that could answer the first couple of key questions.
3. Categorize the metrics needed to fulfill the information used to answer key questions. In other words, is the information you need activity- or results-based? Is the metric required to supply the information a base metric, an aggregate metric, a weekly, monthly or annual metric? Is it a calculated metric? Below is an example of how these metrics would be categorized.
4. The Sales Performance Management system in your company has been collecting and reporting on numerous metrics. Knowing the information and category of metrics you need (from steps 2 and 3), you now need to dig through the catalog of available metrics and find those that supply what you need for the dashboard. Hopefully, the metrics are all in your Sales Force Automation (SFA) tool already. Once you find the metrics, your SFA/CRM team will need to help build the dashboard out of the current metrics.
5. However, starting with the key questions often leads to situations where metrics are not currently available. This may have happened because of a decision to use the SFA’s “out of the box” metrics. If this happens, you’ll have to formulate methods to capture the information needed. Sometimes, it is simply in another system and an import to your SFA needs to be set up. At other times, the data may not be reachable or even exist. That’s when some creative work will need to be done. For example, assume you wanted to use “Share of Wallet” as a performance dashboard. If the client is using your competitors, how do you know how much of the wallet your firm has compared to others? The competitors most likely will not tell you how much they have, and the client may be protective about this information also. In any event, it is most likely an estimate and a figure that Sales Reps will have to manually enter.
Working through these 5 steps will bring you to an ideal dashboard, but some pieces of the dashboard may not be ready for version 1 (usually anything that Step 5 was required for.) In this case, use the following guidance to plan out your evolving dashboard:
Then, put together something like the following real example to share with stakeholders and the SFA team and pair this with a spreadsheet of the metrics you’ve had catalogued (that fulfill the information needs of this dashboard). This becomes your blueprint of what you’re looking for until it can be built.
Taking this approach helps you focus on what you really need from a dashboard instead of settling for one that tells you what it thinks you need.
It’s September. You and the rest of the executive team are beginning to think about next year&...
Have you found that your revenue trends haven’t increased with your sales expense? Are you wai...
Brad Christian, Chief Customer Officer of Market Force, joins us to share the true meaning of custom...
How do you leverage data to inform strategy and measure success? Our KPI Builder tool can help guide...
Many sales leaders like you are deep into annual planning right now. As budgets are determined...
Most CEO’s have good visibility into the top deals in your sales pipeline and are reviewing wi...
Earlier this year, SBI consultant Kirk Snider wrote, “the only way to provide a good experienc...
© 2017 Sales Benchmark Index (SBI)
A Business Strategy Consulting Company
2021 McKinney Avenue, Suite 550
Dallas, TX 75201
© 2018 Sales Benchmark Index (SBI), B.V.
A Business Strategy Consulting Company
Cornelis Troostsraat 29
Amsterdam, The Netherlands