Introducing Sales Cycle and Velocity Reports
Freshsales has just been updated with more out-of-the-box reports to keep sales managers up to date on major sales performance metrics!
How long does your team take to convert a sales qualified lead into a paying customer? Our Sales Cycle Report gives you a clear answer to this question. And which stages of your sales process tend to delay conversion? This valuable insight can be gained with our Sales Velocity Report.
If you are a Sales Manager who holds regular sales review meetings to identify bottlenecks in your sales process and drive faster sales, then read on – these reports are about to make your job much easier!
Sales Cycle Report
An important metric for all sales teams is the sales cycle – the amount of time a deal takes to go from creation to closure.
Take a look at an example report below for deals won in the last quarter.
Here, Kate has an average sales cycle of 19 days. Pretty impressive! On the other hand, Charlie has the longest sales cycle, 38 days! Where could Charlie be going wrong? This is where the Sales Velocity Report comes into play.
Sales Velocity Report
Once you’ve had a look at the sales cycle report for an overall picture of how your team is doing, you can drill deeper into each sales rep’s performance using the Sales Velocity Report.
Let’s take the same team again. The report below shows how much time each sales rep takes on an average to move a deal from one deal stage to the next.
Now, we saw from the Sales Cycle Report that Charlie was taking too long to close deals. This reports shows us the reason – he is spending too much time in stages New and Evaluation. Looks like Charlie isn’t pushing his prospects hard enough with follow-ups. Katie, on the other hand keeps her deals in stage New for only 4 days! Maybe she could coach Charlie on how to get to the Demo stage faster.
The Sales Cycle and Velocity Reports together help you find the major bottlenecks in your sales process and tackle them proactively!
Other related reports
Apart from these reports, we’ve also added two others:
- Lost Deals – Velocity Report: This gives you a deep dive into the deals lost by your sales team, and which stages they stagnated in. This can help you identify patterns in the weaknesses of your sales team.
- Lead Velocity Report: Analogous to the sales velocity report, the lead velocity report gives an overview of the time (in days) it takes for your salespersons to qualify leads as potential customers, broken down by various lead stages.
Remember – these reports are completely customizable! If your sales process requires you to view these reports on a Territory level, you can modify the reports accordingly. These reports can be found in our custom reports module. Sales Cycle Report, Sales Velocity Report and Lost Deals – Velocity Report are under the deals section. Lead Velocity Report can be found under the leads and converted leads section.
Applicable plans: This feature is available in Garden, Estate, and Forest.
Knowledge base: How to use sales cycle and velocity reports?
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