Data is one of the most valuable assets in today’s modern and competitive business world. Especially when applying practices like sales growth, because decisions regarding sales strategies and approaches are mostly data-driven. However, data is meaningless unless it is structured and organized. To evaluate and use the information for growth you must know exactly what you’re searching for and where to seek for it.
Thankfully, there are data dashboards, which are centralized platforms that display the metrics/parameters that are important to your sales.
The “proposal intelligence dashboard” is intended and built to provide a safe place for anybody who wishes to get insight into operations of their sales performance.
What is a proposals dashboard?
A proposal dashboard is a summary snapshot of your sales proposal performance. Because dashboards are dynamic in nature you can click on any metric, and you will be able to monitor current status, progress of proposals at that moment and you can also drill down to get more information. It helps businesses extract, analyze, measure, and monitor different key metrics and at the same time displays the data in a visible, interactive and understandable manner.
These dashboards give a wealth of visual information about the sales proposals and their critical KPIs like proposal acceptance rate, revenue, average deal size, sales proposal velocity, average proposal cycle length, and more.
Without dashboards, businesses will have to dig deep through a massive quantity of unstructured data to find the one they need to check their proposal performance. However, the disadvantage of this manual procedure is its severe inaccuracy as well as the fact that it is time-consuming. It breaks down the data into more consumable bits of visual information allowing you to identify what you’re doing well and where you might improve in the sales proposal strategy.
Why use proposal dashboards?
How an organization can use proposals dashboard?
What if I tell you that,
- You could get detailed insights into your proposals
- You could view your sales proposal history to see the trends and patterns.
- You could compare past and current sales figures at a click.
Yes, you heard it right. A proposal dashboard can give you detailed and actionable data back on your proposal and can help you sell not only that prospect but refine your proposal for future prospects as well.
The finest feature of a proposal dashboard is that it not only saves us time, but it also gathers all relevant data at one location where we can access it. You may take the essential actions to help your company’s sales growth.
Now you may ask what is the difference between a dashboard and a report.
The primary difference between report and dashboard is that dashboards are dynamic in nature you get real-time proposal updates in dashboards whereas reports include static information. Dashboards are interactive, they allow you to filter segment and display your proposal date. And that’s the reason the proposals dashboard is just what you need to know what’s really going on with your sales proposals, right from the proposal generation to deal closure.
Benefits of using a proposals dashboard
Dashboards are a great way to visualize your sales process and track your progress. They can help you to identify areas where you need to focus your efforts and improve your sales proposal process. Dashboards can display data in a variety of formats, including graphs, pie charts, and bar charts. This makes it easy to see how your sales proposals are performing and track your progress. Dashboards can also be customized to include information specific to your business.
- All-in-one: Previously users would spend a significant amount of time studying and evaluating several reports in order to reach a final decision on the proposal. Sales proposal dashboards provide an efficient and effective way to manage the sales proposal process. They offer a centralized location for all the information related to a proposal, from initial contact through to final negotiation and closure.
- Drill-into-details: However, having all-in-one does not imply a lack of details. proposals dashboard is designed to allow users to drill down as far as they need to.
- Easy to read and understand: Proposals dashboards are designed in such a manner that even persons without prior knowledge of sales, finance, proposals, or marketing can readily interpret the data displayed on the screen.
- Create sales-driven strategies with real-time data and drive profits: Sales proposal dashboards provide an efficient way for sales teams to visualize their proposal pipeline and track the progress of individual proposals.
- Refine your proposal process: Sales proposal dashboards can help sales teams identify bottlenecks in the sales process and make changes that will improve their efficiency.
- Mobile device accessible: Proposals dashboard is designed to work with any mobile device. The idea of the dashboard is to get the most up-to-date information to anyone, wherever and at any time.
16 Proposals Dashboards Examples
Proposal Performance Dashboard
How do you know whether your sales process is working correctly? You set sales targets and track deal closure for your company, department as well as team members. Proposal performance dashboard provides a comprehensive view of each sales proposal team members/ sales rep’s performance (as well as overall team performance) in relevant areas. You can get visibility into sent proposals, won proposals/ completed deals, monthly deal closure rate, number of proposals sent, number of proposals viewed, conversion rates.
Using this information, proposal managers and reps can identify what’s working, what is not, and what they should change, adjust for success.
In short, a proposal performance dashboard allows sales team, sales managers and owners to easily track proposal data and see whether sales forecasts are being met. Having a clear and reliable data set allows proposal-teams as well as business managers a better decision-making.
Proposal Pipeline Dashboard
A proposal pipeline dashboard is a sales tool that provides you an interactive overview of your businesses sales proposal data. You can assess your proposal process on a stage-by-stage basis. It can act like a scanner for your sales pipeline by highlighting proposal stages where sales deals are getting stuck, closing out, etc.
A closer review of the proposal pipeline dashboard enables you to regularly track, evaluate and update your proposal pipeline using a data-driven, objective decision-making process.
This tool helps sales leaders, managers and owners track & review performances of not just their sales, but performances of each sales rep, proposal writer. It also provides an overview of a sales rep’s account forecast and how close the rep is to making quota, as well as how close a sales team as a whole is to reaching quota.
Proposal Conversion or Win/Loss Dashboard
This dashboard tracks your win/loss rate. The reports can be used to highlight why certain proposals are converted, closed as deals while others could not.
This dashboard can be useful, effective to identify ‘No-Go’ decisions for certain prospects, or avoiding actions that would have led to loss of sales deals or recommending actions that would have helped you close the deals. Thus formulating best practices of proposal process, closing deals, etc.
It also provides you with insight into your team’s close rates during specific periods. You can also see the trends of proposals sent vs won during specified periods.
Proposal Conversion Trends Dashboard
Proposal conversion is a critical sales KPI. A good proposal conversion rate is an indication of healthy, growing business. Most companies are unable to track proposal conversion trend for a given period e.g. sent proposals vs won proposals every month; sent proposal value vs won proposal value every month, average value of own proposal for a specific duration, number of proposal views by client before deal happens.
It is not easy to track subjective aspects in proposal pages that impact deal conversion/ make you win/lose proposals; examples of such subjective aspects are like service/product items offered, pricing, sections included, content written/presented in those sections, etc.
One can track popular sections data, exit rate, returning prospects data to identify improvements to proposal content for better conversion. You can monitor conversion trends in this dashboard to see whether content changes, engagement strategies are impacting, improving sales proposal acceptance vs sending proposals each month.
Proposal Funnel Dashboard
Proposal funnel dashboard is a visual sales tool that shows sales proposals flowing through the sales funnel stages like Drafted, sent, viewed by client, signed, paid.
Proposal pipeline and proposal funnel dashboard are different presentations of the same data. Proposal funnel dashboard highlights number of proposals in different stages of client conversion and relative weightage, whereas proposal pipeline dashboard has more qualitative information, information about list of proposals in a given stage etc.
Proposal funnel dashboard is pretty quick to understand and informative for business owners or sales leaders. It helps them quickly track the number of proposals in different stages of the sales process and if something is odd, they can jump in to intervene.
Ultimately the proposal conversion rate is what shows effectiveness of a sales process and how the sales team is performing. As a sales process, proposals go through Drafting, Sending, Viewing, Signing and Payment stages; with a sales funnel dashboard you can easily understand how much stronger sales numbers are going to emerge for a specific duration.
Proposal Engagement Dashboard
Proposal engagement dashboard provides a set of clear indicators about how clients have engaged with your proposals. Considering fierce competition, knowing engagement indicators gives you a solid advantage over your competition.
You have seen the era of not knowing whether a prospect has seen your proposal or not.
With this dashboard, not only you get the ability to know whether the proposals have been viewed by your clients/ prospects, you also know how many times they have viewed, how much time have they spent (as a whole), how much time they have sent per visit, how different it is for won proposals, at which hour of the day your proposals are viewed the most, which day of the week your proposals are viewed the most, how many times prospects are returning to view your proposals, etc.
Proposal Engagement Trends Dashboard
This serves as incredible insights to know and refine your sales process to optimize time, day of sending proposals, evaluating the chances of converting a given proposal given its engagement numbers vis-a-viz average numbers for converted/won proposals.
Proposal Activities Dashboard
Speaking of best practices, a proposal activities dashboard breaks down the activities your proposal team members are completing on a daily basis. This can include number of proposals sent, follow up emails sent, proposals signed, deals closed, advance payment received. These activities are reported on a real time basis; one can track these activities with a broader view to decide what set of proposal activities deliver the best results while tracking the utilization of your team.
Live Proposals Dashboard
How many of your proposals are out for client-review?
What is the estimated deal size of the proposal clients are still reviewing and haven’t decided yet.
To get answers to such pressing questions, you need a Live Proposals Dashboard.
Essentially when you want to understand what is at stake at THIS moment, you refer to this dashboard.
You can also monitor, whether/how many of those live proposals are being considered by clients/prospects and what is the estimated deal size.
Proposal Content Dashboard
Sales proposals content dashboard is not any regular dashboard you will come across. Most likely, it is introduced for the first time for business users.
This dashboard helps you monitor usage patterns of sections used in your proposals/ regularly used proposals (i.e. templates) and it generates insights to most popular sections, engagement rate, visit duration, exit rate, etc. You get a clear understanding of the most viewed sections, how repeatedly those are viewed,
One can use the information reported in this dashboard to improve section content, use insights to rearrange the order of sections in a proposal.
Client-Proposal Interaction Dashboard
Every sales person wants to know whether clients/prospects have viewed proposals s/he sends. But it is far more interesting and useful (to convert proposals) to know how prospects/clients have interacted with your proposals.
It goes beyond merely knowing whether the document was opened or not, with client-proposal interaction dashboard, you get qualifier data/insights such as
- Number of times client has viewed your proposal
- The duration for which s/he has viewed your proposal
- The time lapsed ever since s/he has viewed your proposal the last time
- Top viewed sections
- List of sections viewed by client – how many times
- List of sections viewed by client – amount of time spent on each
- The device used to view your proposal, was it hand-held device like smartphone or a desktop/tablet
With this dashboard, you certainly understand that the prospect/client is interested in your proposal but it goes beyond to help you qualify the interest level. You can leverage these insights to have a highly impactful conversion that is personalized and to-the-point.
Team Performance Dashboard
Do you have a vacancy to fill in your sales team? Do you want to reward/ incentivise your top performer? Are you looking to coach/train any of your struggling sales rep?
How do you know who is the top performer and who is struggling in your proposal team?
Team performance dashboard has the answers you are looking for. It provides a complete view of the performance of each sales team member writing, sending proposals. It offers visibility into proposals written, sent, viewed by clients, signed by clients or paid by them. You can monitor proposal-viewing rate as well as conversion rate for each one of them.
Managers and reps can identify what’s working, what isn’t, for whom things are working well for whom it isn’t, and what they’ll need to adjust for success.
This dashboard can help you check absolute number of proposals won/ lost or sent-out for review. It gets updated on real-time and you can track these critical KPIs
Proposal Revenue Dashboard
Proposals revenue dashboard helps you track your sales revenue achieved through proposal conversion compared to the sales target set. You can set the target for a year and revenue-achieved data is auto-calculated based on the proposals won.
Proposal Acceptance Dashboard
Proposal acceptance dashboard shows proposal acceptance rate in percentage. You can track proposal acceptance rate per category/ region/ department wise and be on top of your sales proposal process.
Proposal Timeline Dashboard
Proposal timeline dashboard gives you a timeline view of proposal stages. When a proposal was created, when it was sent, when client viewed it recently, when client has signed it, if advanced payment was made, when was it made, etc. You can stay on top of your proposal lifecycle using this dashboard.
Proposal Sign & Summary Dashboard
Proposal sign and summary dashboard shows stakeholders involved in the proposal decision process. You can clearly see and track the status for each individual involved for a given proposal – not just proposer side but also from the client side too. If you know who is a decision maker, who is influence, who is gate-keep; you can set your communication strategy accordingly.
In conclusion, using a dashboard for the sales proposal process can help to improve the efficiency and effectiveness of the process. It can help to ensure that all stakeholders are kept up to date on the progress of the proposal and that all necessary information is readily available when needed.
It can help you track your progress, identify areas of improvement, and make better decisions. So if you’re looking to improve your sales proposal process, I urge you to consider using a proposals dashboard. Thanks for reading!