Only 32% of small business with less than 11 employees have a dedicated person to complete the task of analysing marketing data and other business statistics. At the start of 2017 small business accounted for 99.3% of all private sector business so it’s about time that sales analysis strategies aren't just used by larger companies.
What’s the big deal with Sales analysis?
Sales analysis is an import part of any business regardless of the size. It will allow you to monitor the progress of your business whilst allowing you to seek new product opportunities.
Predicting the amount of each product and having a clear idea of the volume of sales that you will receive in a chosen time period is an invaluable resource. You can compare sales year on year, month on month, or by taking into account seasonal events such as Mother’s Day, Black Friday and so on. Prediction allows you to prepare your business for both an increase in orders or a quieter spell; meaning you can arrange more staff, more stock or if your business uses a drop ship service you can send less stock over, in turn saving money on stock and storage.
A priceless aspect, it is very important to make sure your time is spent well and efficiently. By analysing your sales, you are able to use your time more efficiently by investing more time into your bestselling services and products and allocating a more reasonable amount for the slower selling versions.
When trying new marketing strategies, you never really know how well it is going to go. By analysing your sales, you will be able to plan out a direct correlation between changes in season, new marketing strategies, deals and discounts, product variations and so on.
How do you analyse your sales?
By using programs such as One Stop Order Processing you are able to quickly and easily generate a sales report of your orders within a chosen time scale with just a few clicks. Click here to watch one our latest videos showing you this process. https://www.youtube.com/watch?v=dwBqZYRM1GU
You can also design custom spreadsheet formats if you want to export the data to analyse it further.