We’ve compiled a list of 5 of our favorite HubSpot Sales Reports that we consider essential for any sales team. The HubSpot Sales Hub offers multiple reports right out of the box that can be incredibly informative. Still, one of the benefits of using HubSpot is the customizability it provides, and some of the reports we list below won’t be available as defaults in your Sales Hub.
Like predicting the weather, deal forecasting (or sales forecasting) isn’t a 100% accurate science. However, that doesn’t mean we should ignore the insight it provides. A deal forecast can protect us from damaging financial storms if we have quality data based on historically accurate information.
Gartner reports that poor data quality significantly contributes to inaccurate sales forecasts. We want to ensure our data is trustworthy, so our deal forecasts are as accurate as possible.
HubSpot’s Deal Forecast report feature gives you an overview of your selected time frame. The default view shows you all the close dates within that time frame and estimates the revenue that should result from those deals.
A deal forecast works by assigning a “win probability” percentage to each stage in your pipeline. The probability of winning a deal increases as the deal progresses through the pipeline.
This HubSpot Sales report multiplies each deal’s amount by the probability of winning that deal. These amounts are all added to give you a “weighted forecast.” The more accurate your deal stage probabilities are, the more precise your weighted deal forecast will be.
The Deal Funnel report shows all deals in all the stages of your pipeline and the conversion rate between each stage. You can then select a deal stage and “closed won” to see what percentage of the deals that enter that stage are won (based on your historical data).
For the most accurate deal stage probabilities, ensure your deal stages represent the most critical milestones in your sales process. Then use the deal funnel report to fine-tune your deal stage probabilities.
This report gives insight into:
Determining your deal stage conversion rate also helps you see how each of your sales reps is performing.
This HubSpot Sales report shows you closed deal amounts broken down by the initial touch point, such as organic or paid search, organic or paid social, email marketing, referrals, direct traffic, and others. This high-level attribution report helps you understand which channels deliver the best deal conversions. With this data, you can adjust your marketing strategy to focus on channels that provide the best ROI.
This is a custom report we use to track how much time a deal stays in each stage on average. Determining the average time spent in each deal stage helps you identify which deals need a bit more attention and which may have gotten stuck. This knowledge enables you to focus your time more effectively.
This report gives you great insight into individual sales rep performance and the effectiveness of your sales process. When you identify reps who take longer than others to close a deal, you can determine where those reps need extra coaching.
Waypost has been a HubSpot partner agency since 2014, and we’ve been a top-rated Gold partner since 2017. We’re experts in all things HubSpot, and that includes HubSpot Sales reporting. Call us at (864) 288-6162 or contact us online anytime.