The sales management team of Universal Containers has noticed that opportunities are taking longer to close.
Historically, it has taken 30 days for a new opportunity to be moved to closed/won. Recently, this time period has increased to 45 days.
Which two reporting tools can the sales management team leverage to help determine the cause? (Choose two.)
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A. B. C. D.CD
To determine the cause of the increased time it takes for opportunities to close, the sales management team of Universal Containers can leverage the following two reporting tools:
Dashboard of Opportunity Stage Duration: This dashboard provides insights into the duration of each stage in the opportunity sales process. By analyzing this data, the sales management team can identify bottlenecks or stages where opportunities are getting stuck or delayed. For example, they can compare the average duration of each stage for the current period with the historical data to see if any particular stage is taking longer than before. This information can help pinpoint where in the sales process improvements or adjustments may be needed to expedite the closing of opportunities.
Report on the Discount Approval Time for Quotes: This report focuses on the time it takes for discounts to be approved in the quoting process. If opportunities are taking longer to close, it could be due to delays in discount approvals. By generating this report, the sales management team can analyze the average time it takes for discounts to be approved and compare it with historical data. They can also identify any outliers or instances where discounts are taking significantly longer to be approved, which could be impacting the overall time it takes to close deals. Addressing any bottlenecks or inefficiencies in the discount approval process can help accelerate the opportunity closure timeline.
While the other options listed may provide valuable insights in different contexts, they are not directly related to understanding the cause of the increased time to close opportunities in this specific scenario:
A. Dashboard of Month-over-Month Trend of Lead Conversions: This dashboard focuses on tracking the trend of lead conversions over time. While it is useful for monitoring lead generation and conversion performance, it does not directly address the issue of increased time to close opportunities.
B. Report on Campaign Return on Investment (ROI): This report measures the effectiveness of marketing campaigns by calculating the return on investment. While it provides insights into the success of campaigns, it does not directly relate to the issue of extended opportunity closure time.
Therefore, the most relevant reporting tools for the sales management team to leverage in this scenario are the "Dashboard of Opportunity Stage Duration" and the "Report on Discount Approval Time for Quotes."