Sales analysis is a marketing tool that allows you to determine if your business is meeting its sales objectives. It gives you an idea of how your customers are spending their money and how certain products are performing. While it is an effective tool in the sales department, sales analysis can also provide you with valuable insight that will benefit your customer service.
Get to know your customers
Understanding your customers is the key to providing them with good service. Your sales analysis statistics will contain important data about your customers that will help you understand them better.
Find out why customers leave your website
Some sales and web analysis software allows you to find out how long users stay on your site and at which point during the shopping process they abandon it. This gives you great insight and lets you know how you can improve certain aspects of your website to better serve customers. There are plenty of custom web design solutions that you can employ to address these issues.
Find out what questions your customers have
Tracking abandonment statistics also gives you a good idea of products or services that your customers want to know more about. If you find that a certain item has a higher abandonment rate than others, it is likely that your customers just want to know more about it. It is not often that a customer will send an email or make a phone call to customer support to ask about a product, and they will likely choose to visit another website to find out what they need to know.
Update these pages to include more information about the product or service. Include an in-depth overview and more pictures to give users all of the information they need to make an informed decision about their purchase.
Evaluate your own performance
You can also use your sales analysis data to determine how well you’re meeting customers’ needs. Take a look at how long it takes you to respond to orders and to deliver products. These statistics can give you a good idea of how you can improve your customer service, resulting in fewer complaints and more sales.
Find your most loyal customers
Management consultants state that a 5% increase in customer loyalty will increase sales at any company by up to 25%. Sales analysis can help you determine which customers are your most loyal and how you can reward them to keep them coming back.
You can learn about your customers buying habits, and send out personalised emails or offers based on their favourite products or most used services. This not only helps to increase sales but also lets your customers know that your business is committed to providing them with quality products and great customer service.
It can also give you insight into whether a loyalty program or points system would help to benefit your business in the long term. These types of programs can be very profitable, and your sales analysis data will let you know if you have enough loyal customers to get a good head start.
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