Sales are the oxygen for the entire business planning and management. A good customer base is the epitome of a well-qualified sales team and elevated sales graph. Sales Forecasting is an important step to make a well planned business strategy. And for a near-to-accurate sales forecasting, complete sales analysis is mandatory. Sales analysis on a regular basis, such as weekly, monthly, quarterly, and annually can help detect major flaws and identify the supportive catalytic factors for your sales.
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Market Research: Customer Behaviour
Direct customer feedback is gold dust for understanding product performance and market position. You can collect this feedback through various types of surveys:
- Geographical Surveys: How many customers are in a specific area, say 10 miles, and what’s the market penetration.
- Competitor Analysis: How many customers are using competitor products and what’s the migration trend—switching to competitors or your brand.
- B2B vs B2C Surveys: Feedback and analysis depends on the business model. B2B needs in-depth interviews, B2C can have online polls and quick response surveys.
- Telephonic Surveys: Phone interviews to measure customer satisfaction and retention rates, and identify those who have switched brands and why.
Collecting data regularly and using structured comparison methods allows you to see patterns over time and adjust your sales approach accordingly.
Graphical Analysis Method: Sales Performance Visualization
Using graphs to analyze sales performance gives you a clear view of sales trends. A target vs. achieved graph can be created to see your progress. The shape of the graph tells you:
- Make a target versus achieved graph and analyse the output received graphically. Graph can be straight, curved, elevated or depressed.
- Upward graph rewards your sales strategies and reflects that your strategies have been contributing well towards the sales growth.
- A depressed graph indicates poor sales performance that can be the outcome of poor sales planning, ineffective strategies. This signifies that you should quickly bring amendments in the process.
- A steady and linear graph signifies no profit no loss. But this is also an alarming condition for the organization. This may forecast that anytime your competitor can surpass you because you are no more gaining new customers and your profit factor is on a constant
Review these graphs regularly to catch problems early and adjust your sales strategy.
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CRM Sales Analysis: How Technology Can Help You Grow
Customer Relationship Management (CRM) software is a key part of modern sales analysis. By keeping records and generating consolidated reports automatically, CRM tools help you:
- Track customer interactions, preferences and purchase history.
- See sales trends and performance gaps.
- Follow up and engagement with customers.
- Get reports to see where to improve sales strategy.
CRM analysis gives you data driven approach to fine tune your sales tactics, better customer retention and higher revenue.
Sales Analysis Tips
- Regular Reviews: Review weekly, monthly, quarterly, annually.
- Customer Feedback: Get direct customer feedback through surveys and calls.
- Data Driven: Use CRM to collect data and generate reports.
- Visuals: Visualize sales data to make quick decisions.
- Proactive: Respond to negative sales trends by refining and addressing the market.
By integrating sales analysis into your business you will get sustained growth, better customer satisfaction and a competitive edge.
