As a sales manager or part of the sales team, you already know how crucial it is to understand the pulse of your operations. In today’s fast-paced business landscape, every interaction, deal, and relationship is interconnected. 

And ultimately, each of these impact your success at the end of the day. 

So how do you keep a check on all things sales to make sure you’re on the right track? A good idea is to record data into your CRM and check into CRM reports every once in a while. These data-driven reports can tell you more than just surface-level observations, making them must-have elements for any effective sales manager!

In this blog, let’s go through what are CRM reports and 5 essential CRM reports that you should focus more on. But first…

What is a CRM report?

A Customer Relationship Management (CRM) report is a comprehensive document that compiles and analyzes data related to customer interactions and relationships.

The data collected includes information such as demographics, purchase history, customer service interactions, social media interactions, surveys, and feedback. Since the reports are extensively focused on real-time data, you can draw a holistic view of customer behavior and preferences and make data-driven decisions!

Moreover, CRM reports empower businesses to:

• identify opportunities for improvement, 
• optimize customer engagement strategies, and 
• foster long-lasting customer loyalty.

What is the objective of CRM reports?

CRM reports primarily exist to improve customer service by providing actionable insights into customer interactions and relationships. These reports analyze data from various touchpoints to enhance understanding of customer behavior, preferences, and satisfaction. 

As a sales manager, you can make informed decisions to improve customer engagement, tailor marketing strategies, and ultimately foster long-term customer loyalty. And at the end of this road is your company’s success and profitability!

Top CRM reports you should focus on

CRM reports can be important to you for different reasons than other businesses because of how different your goals might be. However, 5 essential CRM reports are crucial to your success. 

With Jaldi by your side, add these top 5 CRM reports to your sales strategy today: 

Pipeline reports

A pipeline report is a strategic tool used by sales managers and teams on their sales funnel to track, analyze, and optimize the progress of leads and opportunities as they move through various stages of the sales process. 

This report is an invaluable asset for understanding the health of the sales pipeline and making informed decisions to enhance sales performance.

To quickly understand how your prospects are moving closer to conversion, pipeline reports allow you to check the total number of leads as well as their current stage in your funnel.

You can see where leads leave your funnel and how they enter it using a pipeline report. With this data, you can identify the most effective routes for generating leads as well as any issues that result in a lead losing interest before converting.

Sales managers can also pinpoint bottlenecks and potential issues within the sales process by analyzing where deals tend to stall or face challenges. This insight enables proactive problem-solving and process optimization!

Sales performance reports

Sales performance reports in CRM systems provide a detailed analysis of the sales team’s effectiveness, individual performance, and overall sales process. 

These reports are essential for sales managers and leaders to assess, track, and optimize sales activities.

A sales performance report will typically include key metrics such as number of deals closed, total revenue generated, and average deal size. 

It will also include conversion rates such as the percentage of leads converted to opportunities and opportunities converted to closed deals and forecast analysis such as a comparison of forecasted sales figures in the sales plan to actual results.

The ability to understand the pulse of the sales cycle empowers managers to set realistic expectations, refine strategies, and fine-tune their approach to match the dynamic needs of the market.

Customer service reports

Customer service reports provide a detailed overview of the performance and effectiveness of a customer service department within an organization. 

These reports are generated using data collected from various customer interactions, feedback, and service metrics. Customer service reports are instrumental in evaluating and improving the quality of service delivery, identifying areas for enhancement, and making informed decisions to optimize customer satisfaction.

A customer service report includes information such as response times, resolution times, customer feedback, scores indicating satisfaction levels, volume and types of customer inquiries and issues, percentage of issues resolved during the initial contact, etc.

Analyzing customer service reports allows businesses to gauge customer satisfaction levels accurately. Armed with this information, sales managers can implement targeted improvements to enhance overall customer experience and loyalty.

Profitability reports

A profitability report provides detailed insights into the financial performance of the business, specifically related to customer interactions, sales, and service operations. 

This report is designed to help businesses assess the profitability of customer relationships, sales channels, and various aspects of their CRM strategy. 

It plays a critical role in aligning customer-centric initiatives with overall financial goals, allowing organizations to make informed decisions and optimize their profitability.

A profitability report includes the following:

• Analysis of the profitability of individual customers or customer segments, considering the revenue generated, associated costs, and overall lifetime value.
• Evaluation of the profitability of specific products or services offered within the CRM system.
• Assessment of the profitability of different sales channels tracked within the CRM, such as direct sales, online sales, or partner-generated sales.

Profitability reports guide you in allocating resources strategically. By understanding which products, services, or customer segments contribute most significantly to profitability, you can optimize your efforts and investments.

By analyzing customer and product profitability, you can identify high-value opportunities and focus your efforts on areas that promise the greatest return on investment. This targeted approach is instrumental in driving sustained profitability.

Cost analysis within profitability reports helps you identify areas where you’re spending more than you need to. Sales managers can work towards optimizing costs, enhancing operational efficiency, and preserving profit margins.

Campaign performance reports

A Campaign Performance Report is a detailed analysis and documentation of the effectiveness and outcomes of a specific marketing campaign. 

This report is designed to provide insights into various key performance indicators (KPIs) and metrics associated with the campaign, helping businesses evaluate its success, understand audience engagement, and make informed decisions for future marketing strategies. 

The Campaign performance report is an essential tool for sales managers and businesses seeking to measure the impact of their marketing initiatives and optimize their overall customer engagement strategies.

Some of the elements of a campaign performance report include:

• A summary of the campaign, including its goals, objectives, target audience, and key messaging.
• Metrics such as click-through rates, conversion rates, engagement rates, and other relevant indicators quantify the success of the campaign.
• Analysis of the performance of the campaign across different channels, such as email, social media, or other communication platforms.
• Calculation of the ROI based on the costs incurred for running the campaign, assessing the financial efficiency of the marketing initiative.

Audience segmentation through a profitability report and customer journey mapping helps in tailoring campaigns to specific customer segments, enhancing the relevance of messaging and increasing engagement.

ROI calculations allow sales managers to understand the financial impact of their campaigns, ensuring that marketing efforts are not only effective but also financially efficient.

Insights from campaign performance reports guide strategic planning for future initiatives, enabling businesses to build on successful elements and avoid pitfalls.

Final Thoughts

CRM reports are one of the overlooked but critical features of your CRM system. When it comes to complimenting your sales strategy with data-driven approaches, CRM reports can play a huge role in tackling bottlenecks and identifying customer satisfaction and preferences. 

In this blog, we tackled the 5 essential CRM reports you should produce and analyze for a better approach within your sales team. Jaldi offers a comprehensive yet simple CRM system, which empowers you as a user to make decisions swiftly and smartly. Book a demo with us to learn more!