On this page

Having a clear, dynamic view of your sales performance at your fingertips through sales dashboard software can be crucial for sales success. Visualizing and analyzing the key sales metrics in a centralized location through a user-friendly platform will not only transform the way sales process takes place, but turn the raw data into actionable insights, and give the reps a clear view of sales performance.  

Take Ford Motors as an example. Ford1 had different departments with separate customer data which made it difficult to understand customer needs. So, in 2022, Ford reorganized the company and established separate business units to manage different areas. However, they created a dedicated unit, Ford Pro, to cater to commercial and government clients. But to ensure that this restructuring was successful, Ford had to improve the internal unity.  

This lack of a centralized, shared customer database hindered Ford's ability to build strong, long-term customer relationships. Ford spent four months implementing a new system, Salesforce Platform, that comes with integrated sales analytic dashboard software to centralize all their customer data. 

They built a dashboard using CRM Analytics to track how well the transformation is working, looking at areas like customer interaction, reducing unnecessary calls, and managing marketing campaigns. In no time, Ford noticed that email click-through rates jumped by 48% and that it’s taking four fewer days to maintain campaigns.  Such a result can be achieved with the help of Compass. It is a sales incentive management software, that enables companies to motivate their sales teams using an automated dashboard that gives real-time visibility into performance and commission information. 

This underscores the significance of sales dashboard software and how an organization at any scale requires one to silo the sales pipeline effectively. This blog will explore the reasons why sales analytics dashboards are essential and how they can help you lead your business to success. 

What is a sales dashboard software? 

To understand sales dashboard software, we must understand what sales dashboard stands for. It refers to having a visual representation of sales metrics so that the sales force can access the data related to the progress toward sales goals.  

The visual representation can be in the form of a graph or a chart that can easily reveal where sales teams are performing well and where they need to improve.  According to Salesforce, an optimized CRM with an integrated sales analytic dashboard can bring you 44% more leads, and a 37% increase in sales revenue.  

Sales dashboard software, however, is a tool that visually organizes and presents sales data. You can integrate the tool into your CRM, to improve efficiency. It allows users to quickly understand and analyze important sales metrics. If integrated and used in the right way, this software can: 

  • Improve the visibility. You can access a clear and concise view of key sales metrics. 
  • Help you make data-driven decisions. A sales dashboard software can empower managers to make data-driven decisions to improve sales strategies. 
  • Streamline the sales performance. Sales analytic dashboards simplify the process of tracking individual and team performance and enable better coaching and goal setting. 
  • Increase the efficiency of reps who use it. Dashboards automate data collection and reporting. It saves time and reduces the risk of errors. 
  • Lastly, increase the sales performance. Data insights from dashboards can be used to identify areas for improvement and optimize sales activities for better results.  

According to HubSpot’s 2024 Sales Trends Report, sales management tools and sales productivity tools have the highest ROI, with 27%, and 25% respectively.  

The numbers stand for the value of integrating sales dashboard software even further. Such software has the potential to significantly accelerate the sales process for individual sales representatives. Let's delve deeper into why the sales team require this software to a more detailed level. 

Why do we need sales dashboard software? 

According to HubSpot, up to 78% of salespeople consider that their CRM is effective in enhancing sales alignment. However, to maximize the effect, implement sales dashboard software. Not only will it centralize and visually organize critical sales data but will eliminate the need to compile information from various sources. Imagine the amount of time and effort you can save that can be used after administrative tasks. The dashboard allows you to:  

  • Track key metrics and KPIs: Sales dashboard software allows businesses to monitor all the essential performance indicators (KPIs) and key metrics (e.g., conversion rates, lead generation, sales pipeline health) in one place. This comprehensive view enables informed decision-making and helps identify areas that require improvement. 
  • Team performance tracking: You can customize the sales analytic dashboard according to your need to track the performance of individual teams and sales representatives. This allows managers to identify top performers, recognize areas where additional coaching is needed, and ensure everyone is aligned with overall sales goals. 
  • Monitoring commissions and incentives: Sales dashboard software can be configured to display commission structures, incentive campaign progress, and individual sales rep earnings. This transparency motivates teams and fosters a results-oriented sales culture. 

By providing real-time data visualization and insights, sales dashboard software empowers businesses to optimize their sales efforts and achieve sustainable growth. 

How to use sales dashboard software to get the best result? 

A Salesforce study indicates that data-driven strategies are a key factor for success, with 79% of high-performing sales teams utilizing this approach. Given the compelling nature of this data, it is evident that salespeople require a strategic framework to achieve optimal results.  

  • Identify key performance indicators (KPIs): Determine the critical metrics that reflect your sales team's success. Examples include revenue generated, conversion rates, and sales cycle length. 
  • Select sales dashboard software: Choose software that integrates with your existing data sources, such as your CRM system, and offers visualizations that align with your needs. 
  • Build your dashboard: Design a clear and concise dashboard that displays your chosen KPIs. Prioritize the most important metrics for easy visibility. 
  • Monitor performance regularly:  Schedule regular reviews of your sales analytic dashboard to track progress towards goals and identify areas for improvement. 
  • Take actionable steps: Based on insights from the dashboard, make data-driven adjustments to your sales strategies and tactics. 

Things to consider while choosing the best dashboard software 

A study by McKinsey & Company in 2022 found that using data extensively in B2B sales strategies can lead to sales growth of up to 25%. However, selecting the most suitable sales dashboard software can be a challenging task, as there is a wide variety of tools available, each caters to the specific needs of different business models. Here are some key factors to consider when selecting the most suitable dashboard software for your needs: 

1. Data source compatibility: Ensure the software can connect to your existing data sources, such as databases or marketing platforms. 

💡
An Aberdeen Group study found that, on average, businesses have seen a 47% increase in the number of data sources accessible through their business intelligence tools, increasing the importance of data source compatibility.

2. Customization: The ability to tailor dashboards to your specific needs and display the most relevant metrics is crucial. 

💡
The same report shared that 74% of organizations that use visual data allow their business users to customize and tailor the solution to align more effectively with their specific requirements. 

3. Data visualization: Look for software that offers a variety of clear and easy-to-understand visualization options, like charts and graphs. 

💡
According to a Tableau report, 82% of enterprises use data visualization tools to make the content digestible.

4. Scalability: Consider if the software can accommodate your growing data volume and future needs. 

💡
The Aberdeen Group also found that companies that simplified the data and created a visualized form out of it have scaled significantly. 

5. Security: The software should prioritize data security to protect sensitive information. 

Case studies

The following are two case studies to illustrate the importance of sales dashboard software. 

1. Electrolux record 4% growth in sales after streamlining the process with sales dashboard software 

Electrolux is a major Swedish enterprise that manufactures home appliances. The company employs over 50,000 people worldwide and has their products in 120 markets worldwide. Such a vast company with an extensive sales process, Electrolux needed a way to silo information. Before implementing a dashboard solution, the Electrolux team exclusively relied on Google Analytics for data tracking and dissemination.   

However, this approach presented challenges. Not all personnel possessed the necessary skills to navigate Google Analytics effectively. On top of that, locating specific data points proved to be a problematic task. The team sought a user-friendly dashboard that would allow individual stores and countries to readily access their pertinent sales information. 

Why did Electrolux need a sales dashboard software? 

The Electrolux team sought a software solution to monitor their daily sales and key performance indicators (KPIs). Additionally, they required a tool that would make the sharing of this sales data with international teams easy. So, Electrolux integrated a sales dashboard software and used it in three distinct manners.  

1. Large monitors strategically placed throughout their offices display the dashboards. It allowed everyone in the sales force to get a quick glance.  

2. For in-depth data analysis, team members can access the dashboards directly on their personal computers.  

3. Finally, a mobile application provides team members with a convenient way to view KPIs while on the go. 

How did they fare? 

The Electrolux team utilizes dashboards to identify and address any issues promptly. As a result,  

  • Electrolux has become proactive in problem-solving as they identify the issues before they affect the sales number and make data-driven decisions. 
  • The Electrolux team's dashboards allow them to make significantly swifter responses when they see issues with sales or performance metrics within any of their stores. 
  • They have recorded 4% in sales growth in the first quarter of 2023. 

2. Mahindra Finance sees 40% faster incentive management with Compass dashboard 

Mahindra Finance is a prominent non-banking financial company within the Mahindra Group, a leading Indian enterprise. They specialize in offering financial services such as vehicle loans, home loans, personal loans, and insurance.   

Mahindra Finance employs more than 20,000 sales representatives nationwide, and these sales representatives, constituting the Direct Sales Teams, play an essential role in the company's achievements. However, managing their commission and incentive structures presented significant difficulties. This resulted in widespread discontent and operational inefficiencies. 

What did Mahindra Finance need help with? 

Mahindra Finance was dissatisfied and noticed inefficiencies among employees. They had a fragmented data system. The sales data was scattered across numerous platforms. It caused problems with retrieval, inefficiency, and frequent data loss.  

Combining data from various sources proved to be intricate and prone to errors. As a result, it delayed incentive calculations. They had numerous incentive plans tailored to different regions that required frequent updates and manual adjustments. This process increased the risk of errors.  

On top of that, time-consuming recalculations due to cheque clearances and audit requirements were error-prone and lacked transparency for employees which delayed the incentive payout. To overcome the challenges, they sought Compass's help, a sales incentive management software, to streamline the complexities.  

What measures did Compass take to help Mahinda Finance? 

Compass carefully planned and executed multiple implementation processes. Compass integrated its responsive dashboard to consolidate all data sources into a single, central platform. This helped them eliminate the need to manage data from multiple locations. They automated the data processing to increase both speed and accuracy.   

In addition to this, they enabled Mahinda Finance with real-time calculations to ensure that calculations are done based on predetermined rules and programs and that the sales representatives are paid promptly and accurately.   

Compass offered Mahindra Finance enough flexibility to easily update and manage various incentive programs across different regions and product lines. What proved to be beneficial was the addition of the dashboard as it allowed sales representatives to track their performance and incentive calculations in real-time. This fostered trust and improved communication. 

What changes did Mahindra Finance notice? 

Compass automated the sales commission process. As a result, Mahindra Finance noticed, 

  • The number of representatives who qualified for incentives rose by over 25%. 
  • Calculation errors were minimized by over 98%. 
  • Incentive processing speed improved by over 99%. 
  • 30% rise in sales performance. 
  • 40% reduction in the time dedicated to incentive management. 

3. Spotify sees sales productivity increased by 40% after sales dashboard and analytical tool integration 

Spotify needs no introduction. The streaming giant has always been on the top of everyone's list whenever the word 'personalization' and 'relativity' comes up, thanks to its unique presentation of 'Wrapped'.  

However, Spotify faced an internal challenge when the sales process was hindered. Spotify noted that their manual sales processes and fragmented advertiser data hindered their ability to streamline sales and achieve revenue growth. What they needed was the perfect automation tool, along with the sales dashboard software.  

Mastering the art of personalization 

Spotify is known for delivering personalized ads in between the songs. However, the reason behind seeking a siloed method to get dispersed advertiser data was more psychological.  

By recommending relevant artists and brands, Spotify can strengthen customer relationships and make the listening experience more enjoyable. In the past, it took Spotify Advertising months to collect and utilize data from their advertising campaigns. So, it became an utmost priority to use the understanding of the advertising landscape to place ads strategically. To do that, Spotify:  

  • Streamlined the process using an analytic tool to become the central source of information for Spotify's advertising inventory. This provides executives and advertising representatives with a complete view of the sales pipeline through dashboards and artificial intelligence insights.  
  • Receives data quickly, allowing for prompt follow-up actions within a week. Automation of tasks like customer registration has significantly increased the number of marketing campaigns Spotify Advertising runs annually. 
  • Tracks website visits. This personalization allows visitors to see customized buttons and banners based on their past activity on the website. 
  • Spotify used sales analytic dashboards that allow sales teams to track important information, such as a customer's account status, revenue generated, and how they are using Spotify's features. With this information, sales teams can proactively reach out to customers who may need assistance to retain their business. 

How did they fare? 

Spotify has noticed:  

  • A substantial 53% rise in click-through rates. 
  • The sales productivity increased by 40%. 
  • Client data queries for campaign purposes are now 95% faster. 
  • Year-over-year advertising revenue has grown by 19%. 

Conclusion 

Gain a clear and centralized view of crucial sales data using sales dashboard software. Monitor performance, identify trends, and make informed decisions to achieve our sales objectives. While there are many options, we recommend Compass. With Compass, you can: 

  • Track real-time sales performance and payouts.  
  • Access advanced analytics and insights by adding filters and identifying trends by region, teams, and programs on the fly. 
  • Generate error-free statements at a granular level. 
  • Get visibility aspects of commissions including deals in the pipeline, commission accrued, predictions, and more. 

Make it easier to analyze and optimize sales strategies with Compass. Schedule a demo call now to learn from our experts how it can provide a centralized view of critical sales metrics and set forth the practice of data-driven decision-making for you. 

Citations 

1. Don’t wait years for results. See how Ford is reinventing itself fast. (n.d.). Salesforce.
https://www.salesforce.com/resources/customer-stories/ford-reinventing-customer-experience/ 

Unlock the Biggest Secret of Engagement to Retain your Top Performers.
Learn how