Introduction:

A monthly sales report is an important part of assessing how a sales team is functioning and where it can improve. A good company will have a good product, but without a sales team to attract new clients this product will struggle to generate revenue. 

A sales report allows a manager to avoid spending all their time micromanaging a team, and instead focus their efforts on areas of the business where they can achieve maximum value.

By generating a monthly sales report it is possible to track trends and work from data rather than individual instances or actions. This data-driven approach provides a more holistic view of the company's internal processes and provides an overview of each individual team member's actions. 

You can schedule this template to run a fresh checklist every month automatically - why worry about running it manually, after all?

Preparation:

Record basic details of the report

Record the details of the monthly sales report in the form fields provided below.

Performance metrics:

Review number of calls

Your sales team may be using a CRM to record their activity. We can use the data gathered in the CRM to provide us with an overview of each activity and its effectiveness. 

Use the form fields below to record the key findings in your data:

If you're not using a CRM you could try Salesforce, HubSpot, or Close.io.

This article details a number of other options available on the market and how to choose based on your business needs. A further breakdown can be found here.

Many CRMs provide the ability to make calls directly from within the platform. This provides you with an array of data which you can analyze. 

Reviewing the number of calls made gives an overview of how active your sales team have been. However, this alone will give a superficial understanding of the activities. When your sales team make calls they should register what the purpose and result of the call was. This will allow you to investigate the calling activity in more depth. 

If you feel you need to review stages of the sales process you can see our Weekly Sales Prospecting Checklist or our Cold Calling Checklist.

Review number of meetings

Your sales team should have recorded their meetings within the CRM. Usually, there are fewer meetings than overall calls so you may find time to review the notes from each meeting as well. 

Record the details in the form fields below.

These meetings provide an insight into how your sales team is engaging with qualified leads. Are they explaining your products or services well enough? Are they having successful meetings at a higher rate than expected? 

Both positive and negative discoveries can shed light on the processes of the company. If the vast majority of prospects who have a product demo continue down the sales funnel then this displays strong signs of product/market fit. However, if this is coupled with poor conversions through cold calling then you know either the quality of the leads is poor or the product is not being correctly explained. 

Reviewing the meetings also allows you to read the feedback provided by potential clients, broadening your knowledge of how customers are responding.

Review number of deals

Your company thrives on deals. This is the benchmark to show whether your salespeople are successful in carrying out the duties you have given them. It shows they are able to generate leads, explain the product, and close a sale. 

Record the number of deals achieved below along with any notes about the nature of those deals.

Calculate performance ratios

Ratios are an excellent source of insight for understanding how effective sales efforts have been during the period. 

Below are 4 key ratios that should be included in the report. 

  • 1
    Call-to-meeting ratio
  • 2
    Lead-to-opportunity ratio
  • 3
    Opportunity-to-win ratio
  • 4
    Lead conversion ratio
Source: datapine

Assess total revenue generated

The revenue generated is the lifeblood of the business. A high revenue is almost always preferred. However, depending on the nature of your business and how easy it is to scale your service or product, there may be instances where you can oversell. A good problem to have!

Document the total revenue generated along with the forecast of the previous month using the form fields below.

Analyzing the metrics:

Inspect pipeline to identify sales obstacles

This is your opportunity to analyze the metrics we have gathered in the previous steps.

Record the relevant data in the form fields below.

Assess the impact of competition

Conducting a competitive analysis on a monthly basis can be a difficult task. 

The information you have may not have changed too much from the previous month. Nonetheless, there are a few areas you can check:

  • 1
    Have you identified your direct and indirect competitors?
  • 2
    Do you know how potential customers rate you in comparison to other services?
  • 3
    Do you have reports from competitors which can help you analyze their market position?
  • 4
    Will your strategies help you improve your position against them?
  • 5
    Do you have a process in place to keep competitor information up-to-date?

For an in-depth analysis on how to conduct competitor research, read this article from the Edward Lowe Foundation.

Use the form field below to record notes on your competitors and any new information gathered that could have impacted the performance of your sales team, such as new product releases, investments and leadership changes.

Determine areas of opportunity

Detail a few areas of opportunity which could help advance your team forward and improve your pipeline. 

Use the form fields to document at least one area of opportunity.

You can discuss these scenarios in an upcoming strategic meeting.

Create forecasts

Creating forecasts is about setting targets. The more you know your business the more consistent and accurate these forecasts will be. The purpose of forecasting is not to make accurate predictions but to make reasonable and actionable plans.

You can break your forecast down by product type or by channel, depending on the nature of your business. 

Tim Berry recommends forecasting by month for 12 months and then making annual approximations for any further time you want to forecast. You can break your forecasts down into manageable chunks. In the context of this monthly sales report you may wish to break it down by pipeline stage.

  • How many leads do we generate?
  • How many cold calls lead to demos?
  • How many demos lead to further meetings?
  • How many further meetings lead to sales?

You can then work by both volume and ratios to calculate an expected number of sales per month. Times this by the average value of a sale and your result is an approximated forecast. 

For more information about sales forecasting, you can read this Forbes article on the topic.

Also check out our Sales Forecasting Checklist, designed for Account Executives to forecast individual sales based on the opportunity stage model. 

Record individual performances

When you meet with the team to discuss the monthly sales report and assess performance as well as present targets, you want to be able to discuss individual attainment. 

For each of your employees, leave some short notes discussing what you have learned from your analysis of the available data. You can discuss this with them individually in more depth to identify and solve any problems that may arise. 

Take this opportunity to also give praise alongside constructive criticism. Keep your sales team's morale high!

Create 3 action items

To finish the report, create a minimum of 3 actionable items which you can move forward with either immediately or in the coming month. This will give your monthly sales report direct impact

Record the action items in the form fields below.

Report:

Prepare report

Notify your team or your line manager that the sales report has been completed. Alert them to when this report can be discussed in further depth. 

Enter a shareable link to the report in the form field below and use the email widget to send the email.

Assign the relevant individual to the approval task by editing this template and using the role or task assignment feature.

Approval: Monthly sales report

Will be submitted for approval:
  • Prepare report
    Will be submitted

Send your report to a colleague

Proceed to share the report with relevant parties using the email widget below.

Sources:

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