For a company, each sale generates income, turnover, margin and therefore profits. Its permanent quest is to increase this key indicator, a sine qua non for its development and success in its market. But for that, the path is long, and above all, it requires a lot of analytical work.
But what exactly is sales analysis? According to Google, “ sales analytics is the process of processing sales data that helps guide the company’s sales and marketing actions. Sales analysis relies on the use of business dashboards and statistical techniques. »
This involves, taking into account all available data, understanding the reason why a sale took place or why it did not take place, comparing the number of sales over a given period according to the actions in place, and thus understand where the performance lies.
This rigorous work allows salespeople to constantly have a perspective on their action, and teams at all levels of the company to understand what promotes sales in order to optimize the strategy as well as possible. The teams then rely on precise data instead of operating on instinct, making conscious decisions with full knowledge of the facts (stopping or launching products, rationalizing stocks, allocating additional resources, advertising investments, etc.). It is also a significant tool for forecasting results, validating a strategy or convincing investors!
But how do you perform a good sales analysis? What indicators should be taken into account to best optimize sales and marketing actions?
Here are 5 key areas to analyze your sales effectively:
1) Customers:
—
Understanding your sales is above all knowing and understanding your customers. Armed with market research, field feedback from your teams, sales results and customer satisfaction data, you have a certain amount of information that you can Bahrain Phone Number List cross-reference to understand who your customers are, how they have evolved in time, what are their purchasing habits, their expectations and their feedback regarding your offer and your business.
sales analysis.jpg
2) Products:
—
Your products must be at the heart of the analysis. If they are not desirable or the demand is not there, then you are wasting your energy and your money in vain. Identify the best-selling products, those that work over time and those that do not sell or no longer sell. You then have access to the life cycle of each of your products, which allows you to make informed decisions on stopping or transforming the existing one, or launching a new product.
3) Salespeople:
—
A product can be full of potential, it will not sell if your teams do not know how to promote it or promote it to your customers. Analyzing sales allows you to identify who your best salespeople are and what their methods and keys to success are. Best practices then emerge that can be used to train those who are struggling a little or new recruits.
4) Channels:
In a context where mobile sales are exploding and where social networks are becoming the heart of the business, it becomes essential to study very carefully where sales come from. How do your customers get to your site? What communication levers are effective? What type of marketing campaign works? Is your site attractive enough? The analysis of the figures – in particular via the Google Analytics tool, see our dedicated article – and the conclusions that you will draw from it will allow you to deploy visibility systems.
To benefit from advice on this subject, see our article on ” how to gain visibility on the web “, and to optimize the existing one, see our article on website optimization .
5) Markets:
—
You probably operate in several regions or markets, in which your customers may behave differently. Thanks to localized market analyses, field feedback from your teams and sales results, you can conclude that one product is more in demand Gulf Phone Number than another or that one sales technique works better than another: you will then optimize your business strategy, save time and money.
If these 5 axes must be analyzed one by one, it is also essential to cross-reference the data to obtain a “mixed” analysis. Because there is a lot of data and it is time-consuming to get the most out of it, performance monitoring and reporting solutions – including a solution developed by Maarketer – exist to save you time and increase efficiency. For more information on our solutions, do not hesitate to contact our teams.
