Looking to analyze your sales data… it’s exciting!
This guide can help you with this, so you can be sure you’re ticking all the essential boxes and delivering top-notch sales analysis. With, hopefully, a big boost in revenue on the horizon.
I will review the following aspects:
- What is a sales analysis?
- What benefits can you expect?
- The different types of sales analysis
- How to conduct a sales analysis
- Different tools you can use
Let’s go!
What is sales analysis?
Sales analytics is your business’s health check. It’s about diving into qatar whatsapp number data your sales data to see where you stand, spotting trends, and finding ways to improve.
Think of it as a treasure hunt where the treasures are valuable information that can help boost your sales game…and literally make you more money too.
You see what works, what doesn’t work and what you can still improve.
How often should you analyze your sales?
How often should you take a look at your shopping treasure chest? It depends.
A good rule of thumb is to do check out the 7 steps to tell if a website is secure a quick check every month, a deeper dive every quarter, and a real treasure hunt at the end of the year.
Monthly reviews help you stay on track, quarterly reviews help you spot trends, and annual reviews give you the big picture.
What are the indicators to analyze?
To be sure, keep an eye on these c phone number key indicators:
- Turnover : How much money do you bring in?
- Sales Growth : The increase in your sales over time.
- Conversion Rate : The percentage of leads that become customers. It is also interesting to analyze it step by step.
- Average Transaction Value : The average value of each sale.
- Sales cycle length : Time it takes to close a sale.
- New Business Amount: The extent to which you continue to fill your sales pipeline.
- Customer Acquisition Cost (CAC) : How much it costs to acquire a new customer.
- Customer Lifetime Value (CLTV) : The total revenue you can expect from a customer over their lifetime.
- Top Reasons for Loss : The reasons why you lose most often in markets.
- Top Lead Sources : Where most of your potential customers come from.
- Activity per rep : How many emails, calls, meetings, … each rep has with their prospects.
Tracking these sales metrics (or even sales goals) will help you steer your business in the right direction.
Benefits of Sales Analysis
Proper regular sales analysis can have a huge impact on your business.
More often than not, there are opportunities for improvement that you don’t see when you’re in the heat of the moment, but if you step back and analyze your sales data, they’ll suddenly become apparent.
Optimize your sales funnel
Analyzing your sales funnel helps you find and fix potential problems. You’ll see where prospects are stopping and how to move them through the sales funnel , making it easier to convert leads into satisfied customers.