The new Sales Reporting Dashboard Reports in JobNimbus gives you valuable insight into your business’s sales pipeline. You can easily see your sales, lead sources, and top performers at a quick glance.
As a sales manager, this will help you compare sales reps’ performance, identify who’s lacking in what stage and why, and motivate reps to reach business goals.
While you still have the option to create any custom reports you need in your classic dashboard, the Sales Dashboard provides a live visual snapshot of your complex data. It will help you understand your company’s work volume and revenue so you can make the best decisions to grow your business.
Before utilizing the new Sales Dashboard Reports, make sure your workflow staging is set up and ready to go. JobNimbus comes with a default process for new companies, but you can customize your own statuses and their stages. If you have an existing JobNimbus account, you will need to review your current stages and make some small updates.
You can access and update your workflow staging in Settings → Contact / Job / Workflows. You must have account permissions to access Settings.
What are stages?
- Stages are assigned to every status in your workflow and indicate the “stage” of the process. These stages are then used to capture data for the Sales Reporting Dashboards.
- Every status in your workflow should be assigned a relevant stage and be placed in a linear order.
- If you’ve been with JobNimbus for a while, you’ll know that stages replaced the ‘Is Lead’/’Is Sold’ feature, which tracked your Sales and Job Pipeline Reports. Workflow stages expand on the same concept but allow for more comprehensive visual tracking. No longer do the contacts and jobs have to flow through statuses for this data to be captured!
What stages are there?
- Lead: The start of your relationship with your customer.
- Estimating: An inspection or estimating status, where you’ve made contact and possibly submitted your estimate to your customer, but not quite sold your work yet.
- Sold: A stage that indicates you’ve either gotten your down payment, or money has changed hands, or a customer has signed a contract agreeing to the work.
- In Production: The work is currently being done. Either you’re gathering the materials for the work, or currently in the process of doing the work.
- Accounts Receivable: The work is done and you are awaiting payment.
An example of what your stages could look like:
To view your stages, go to Settings → Contact / Job Workflows.
To update or change your stages, click on the three dots to the right to edit and choose a different stage from the dropdown menu.
Once you’ve made your change, hit “Save Status.”
Before jumping into the Sales Dashboard Reports, make sure you are happy with your workflow staging for contacts and jobs. Some of the Sales Dashboard Reports rely on calculations made when the Contact/Job is created or the Contact/Job enters the “Sold” stage.
By default, “All” workflows will display within the Sales Dashboard Reports. You can select specific workflows for contacts or jobs within each of the reporting widgets (we’ll get to that soon!). Make sure each of your workflow types has been updated to include Stages (in Settings) if you want to view that workflow in your Sales Dashboard Reports. If you do not have multiple types of workflows, the workflows dropdown will not display. Supplier, Subcontractor, and Adjustor workflows do not display within the Sales Dashboard Reports and are not included in the default of “All.”
How to See the New Built-in Reports
You can view and edit the new Sales Dashboard Reports by clicking the ‘Sales’ tab at the top left of the Dashboard. If you’re in Settings, get back to the Dashboard by clicking on your company logo in the top left-hand corner.
The Classic tab will give you your original dashboard of tasks, contacts, jobs, and any other reports you added via customization. The Sales tab will show you the brand new Sales Dashboard Reports.
Sales Pipeline Report
The Sales Pipeline Report uses three stages: Lead, Estimating, and Sold. The report uses the workflow staging you just set up to show the number of contacts or jobs in those three stages. The calculations on Contacts or Jobs are based on the date they were originally created. You can toggle between viewing contacts or jobs by using the dropdown in the top left-hand corner and filtering by location, type (contact/job), workflow, or sales reps. Date range is not an option for this report since it is a live snapshot of where current leads exist. The Sales Pipeline Report lets you identify opportunities for coaching for sales reps, motivate them to improve problem areas, and encourage healthy competition between other reps.
By the Numbers:
The Sales Pipeline Report tracks the total count of contacts or jobs in the current Lead, Estimating, and Sold stages.
Lead Source Report
The Lead Source report will allow you to see which lead sources bring you more value. It tracks the number of leads you receive, how many of those leads are sold, and the overall sold rate compared to your other lead sources. As a business owner, this will allow you to see which lead sources are of better quality because they have higher close rates.
A date range can be set using the dropdown option at the top of the report. You can view either a fixed time period or set a custom date range.
Lead Sources can be added in Settings → Lead Sources
You can then add that lead source to the contact or job.
By the Numbers:
The Lead Source report is based on the date the contact or job became a lead. The total number of leads for each contact or job lead source is captured (blue). Once the contact or job enters the “Sold” stage, it is again captured (green). The total count of leads (blue) is then divided by the sold count (green) to come up with the sold rate (red).
Revenue Leaderboard – Sold
The Revenue Leaderboard – Sold report will allow companies to see which sales reps are bringing in the most revenue.
The Revenue Leaderboard – Sold tracks the total dollar amount of estimates that have been ‘Approved’ or ‘Invoiced’ for each individual sales rep. If a sales rep has several contacts or jobs in the sold stage, but none of the contacts or jobs have estimates, the sales rep will not display in the results.
To update the status of an estimate, you will go to the contact or job that the estimate record is stored under → Click the ‘Financials’ tab → Click the ellipsis (‘…’) → Mouse over ‘Change Status’ and chose the status you want to update to manually, or by converting to an invoice.
A date range can be set using the dropdown option at the top of the report. You can view either a fixed time period or set a custom date range. The Revenue Leaderboard – Sold report is also customizable by location, type (contact/job), estimate, workflow, and sales reps.
By the Numbers:
The Revenue Rate Leaderboard is based on the date the contact or job enters the sold stage. It only captures the total of the estimates that are in the ‘Approved’ or ‘Invoiced’ status for the date range selected. The Draft, Sent and Denied status of an estimate is NOT included in the totals.
Deals Leaderboard – Sold
The Deals Leaderboard – Sold report will allow managers and owners to see the number of deals the sales reps are closing by count. Dollar amounts are captured in the Revenue Leaderboard – Sold report.
The Deals Leaderboard – Sold report tracks the number of contacts or jobs for each sales rep for those that are in the Sold, in Production, and Accounts Receivable stages.
This report is also customizable by location, type (contact/job), estimate, workflow, sales reps, and date range. For date range, you can view either a fixed time period or set a custom date range.
By the Numbers:
The Deal Leaderboard – Sold report uses the date the contact or job reaches the sold stage. It displays the total count from the contact or job for each sales rep.
Average Deal Size – Sold
Companies need to understand this in order to project revenue and track the health of their pipeline. If a company has a new revenue target of $900,000 and their average deal size is $90,000, then you would know that you should aim for 10 deals. Based on the historical metrics, you can then determine how many deals are needed to have at each stage of the sales process and at what time. This allows you to forecast if you are on target or need to step up in a certain area of your pipeline.
The Average Deal Size – Sold report averages the total amount of estimates that are in the “Approved” or “Invoiced” status for contacts or jobs when they reach the “Sold” stage.
You can customize this report by location, type (contact/job), estimate, workflow, sales reps, and date range. Date ranges can be set by either a fixed time period or a custom date range.
By the Numbers:
The Average Deal Size – Sold report is based on the date the contact or job is moved into the “Sold” stage. Once a contact or job is “Sold,” all of the estimates in the “Approved” or “Invoiced” status are totaled up. That number is then divided by the total number of contact or job estimates.
For example, sales rep closes 2 deals, one at $80,000, another at $100,000. The average deal size is $90,000. The more sales made, the more that number will go up and down.
The new Sales Dashboard Reports are available on Tuesday, October 6th, 2020, on all JobNimbus accounts for free. Go try it out, and if you don’t have an account with us you can start a free trial (no credit card required).