If you’ve ever been asked for a rundown in sales, and you’ve been left feeling confused, you’re not alone. This term can seem unusual for beginners, like many of the phrases used in the sales and marketing world. However, it’s actually a lot simpler than it appears.
Here’s what you need to know about the term “rundown” and how it works in sales.
What is a Rundown in Business?
The term “rundown” is actually quite a generic phrase in many parts of the world. It’s essentially used to refer to a basic report, or explanation of something. When someone gives a “rundown” of a concept, they use their knowledge, expertise, and any research they might have collected to share valuable information with another person or group.
For instance, in the business landscape, a marketing team might be asked to give a “rundown” of the kind of advertising channels available to a business. This would involve highlighting different options, like social media or email marketing, and explaining their various pros and cons.
A financial expert in a business landscape might be asked to give a “rundown” of the budget for the month or quarter, in which they would highlight the available cash to the company, where it comes from, and how they believe it should be distributed.
What is a Rundown in Sales?
In the sales landscape, the term “rundown” is often used to refer to a report of specific details within the sales environment. Most commonly, if a sales manager asks for a “rundown”, they’re asking for a clear report, filled with information about clients, their order history, and their relationship with the company. Your rundown could also cover various other pieces of information, such as:
Your sales projections and targets for the month, quarter, or year, and how close you are to achieving your specific goals.
Sales progress and how many conversions you’ve achieved within a specific time period.
Sales success and any specific targets you’ve accomplished in recent months, along with insights into how you accomplished these goals.
Sales strategy overviews, such as the techniques you’re using to convert customers, and how effective they’ve been in delivering results.
Management rundowns which involve insights into the performance of the team, their goals, failures, and various other factors associated with sales.
To add context to the request for a sales rundown, most business leaders and professionals will expand on the term. For instance, if your manager wants to know more about the most successful products in your portfolio for a quarter, they could ask for a sales rundown of your highest-performing products, and revenue.
What is a Client Rundown?
Perhaps the most common “rundown in sales” requested by business leaders and supervisors involves sharing information about clients and customers.
A client rundown is a report of all the information a business leader may need to know about your current target audience and their interactions with your brand. The report might include a list of your most valuable customers, their average order sizes, and what kind of products they purchase.
A client rundown can also provide more specific information about your customer base, such as their contact details, and where they prefer to interact with your organization.
Are Sales Rundowns Important?
A rundown in sales can be a valuable piece of information for many business leaders. It provides a quick and convenient insight into valuable information about your target audience, your products, and your sales goals.
Learning how to deliver an effective sales rundown with all of the right information can be an important step in making sure you can provide your business leaders with useful insights when they need it most.