Sales is 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.
Take reviews with customers directly regarding your products. These reviews can be made via various types of surveys. As for example, a survey of how many customers of yours are prevailing within a range of say, 10 miles. How many are using your competitors, how many have migrated from your production to your competitor or vice versa. Your survey will vary according to whether you are dealing in B2B or B2C domain. Likewise a telephonic survey is equally beneficial to know your customer’s satisfaction rate . Or to check who have switched over and how many are still hanging on with the same service vendor. Take all these data on a regular basis and compare with a proper methodology.
Graphical Analysis Method
Make a target versus achieved graph and analyze 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
No matter whatever methods are available for sales comparisons, excels are somewhere locked deep within the heart of salespeople as a first preference for the comparisons and evaluation. Up to your own comfort level, you can take the help of excel sheets to compare the result and make analysis and derive proper conclusions.
Customer Relationship Management Software helps you establish a healthy client relationship by maintaining a proper record and automatically providing a consolidated output in the form of reports pertaining to various categories. These reports can provide a fruitful result and help to identify the pros and cons of the present sales strategies.
The CRM software helps to gather all the data of the customers from many channels. Hence, CRM stores all the detailed information of the customers such as overall purchase history, personal info, and purchasing behavior. Each and every user has easy access to real-time data of the client which they need. This also makes the businesses possible for providing the customers with some extraordinary things like personalization and one-to-one customer journey.
Advantages of CRM software over other methods
The first step to compare details in a sales business is to collect information related to various products and statistics. SalesBabu CRM provides an integrated system for collecting different data related to every aspect of business requirements. For example for a pharmaceutical business, SalesBabu CRM collects and record details related to every products, vendors, customer like sales person, doctors, chemist and more. Each and every information is stored in a cloud based online database which can be accessed by different stakeholders. Similarly, for an inventory management solution, SalesBabu CRM provides the facility to store all the information related to raw material, different customer, individual ordered products, sales for one vendors, products returned, frequency of ordered goods by different vendors and more. All these information are recorded at a centralised location which helps in creating different reports and statistics for sales of each period based on recorded data.
An integrated system of data collection helps admin users to collect different data and store it in one location for a systematic system of data fetching and analysis.
SalesBabu CRM provides an automated system of reports generation and analysing of data with just a few mouse clicks. MIS(management information system) in SalesBabu CRM helps users to create various inbuilt and customer reports to generate various analysis and statistics for different sales targets over different periods of time like quarterly or half yearly and compare them with various other sales reports.
These features in SalesBabu CRM help in maintaining steady sales targets and comparison with other data to help in improving our strategies and policies for better sales results.
MIS reports on various external factors like sales rejected over the year for specific reasons like rejected quotations or sales orders, non converted sales due to missed meeting and more, help to gaze various shortcomings in the system. The reason behind these sales issues can be easily understood by creating these mapping over years and help to create more proactive solutions for better revenue for the current year.
Simplifies the marketing and sales process
CRM system facilitates the development of better and effective communication channels. Businesses with CRM software will have a chance to provide their customers with various communications. Strategies like this will ensure appropriate delivery of the communication and give a quick response to the inquiries of the customers and take feedback from the customers.
Facilitates optimized marketing
CRM will enable the business to understand the needs and behavior of the customers. This will allow them to identify the proper time to market their products to the customers. CRM software will give the ideas about the most profit-giving customer groups to the sales reps. This kind of information is very useful for targeting some of the prospects who are likely to profit from the business. Optimized marketing will utilize the resources very meaningfully.
Increases customer revenues
CRM software will ensure effective coordination of the marketing campaigns. It is possible to filter the data and also ensure the promotion does not target those who have already purchased some particular products. Businesses can also use the data of the customers to introduce some loyalty programs which will facilitate a higher ratio of customer retention. None of the businesses will enjoy selling similar products to a customer who has bought the product recently. CRM will help to coordinate the data of the customer and will ensure that such conflicts do not raise.
Why is comparison needed?
Comparison of various sales reports is very important to understand the overall performance of the sales team over the year and deal with issues which are seen during the survey.
In most of the sales surveys done for different parameters help sales managers and company heads to understand the shortcomings and strength of every section of the sales process and create an understanding about the whereabouts of the sales process.
In many companies auditing and sales surveys are done over a yearly basis or periodically on quarterly and half yearly basis. Where surveys are very important to show yearly revenue generation of the firm, at the same time surveys and audits are very critical for understanding the pain points of the company’s sales process.
In many SME and startup firms, sales process is the biggest bottleneck for improved revenue for the company. Understanding the yearly performance of each section like pers department performance, reasons for rejection of different sales orders, Rejected rejection from the company and more help in creating an understanding among the team members on what should be the way forward towards work criteria for their individual work items.
SalesBabu CRM provides an efficient solution of creating surveys and comparison different data for performance improvement across the teams and help in better revenue generation for the firm year on year.