The approaching end of the year is often an excellent opportunity to set new higher goals. How to convince more customers, process more orders, and improve your business results next year?
A simple sales analysis can be a great inspiration for you. Just three steps, and you have it. You don’t have to be a specialist.
Table of Contents
Business Opportunities Versus Orders
The number of agreed orders and the number of business opportunities is essential to you. Every incoming demand, every new, addressed customer counts. Therefore, before you close the old year, look at how many potential deals you have dealt with as a company and compare them with the number of orders. You may have been able to process an average of 180 orders a week, but what if another 2,780 queries failed?
By comparing the number of all business opportunities and the number of orders, you will find out how successful you are in catching up with stores. So, what is the percentage? Is there a chance for your company to get more?
Tip for you: Look at these numbers monthly or weekly and compare the individual months with each other. You may come across interesting information. In the article How to effectively manage and monitor business activities? Here are some more helpful tips on how to do this.
When You Know The Numbers, Start Looking For Connections!
The context behind the numbers is essential in the analysis. See what exciting information you can get by looking at your business opportunities.
Find Out Where To Target.
What do business cases that have been turned into an order have in common? It’s the customer profile, the type of product or service you offer, or the way your business communicates with them. Look for commonalities of your successful companies. They make it easier for you to identify your target group and apply to them. In the new year, you will target more precisely.
Find Out Where You Lose The Most Customers.
Now, look at the stores you failed to turn into orders. Before marking each opportunity as unsuccessful or postponing it, note why it has not moved on. It was the price, the silence of the customer, or the faster reaction of the competition. You may find that you need sales training.
Finally, Check Where New Customers Are Coming From.
Website, cold calls, or conferences. It all costs you time, energy, and money. At least try to determine where your “customers” come from. Which source brings you the highest quality “potential customers,” which is none? Each company is specific, and each can work something different. Identifying resources will help you find your “recipe for success.”
Tip for you: Pay special attention to orders from your existing customers. Make a fair note of this opportunity. Purchases of existing customers are the most significant source of income for any successful company. How many current customers do you have? How many orders have you received from them this year? Do you use the potential of your existing customers to the full, or do you give space to your competition?
If you register your business opportunities during the year, it will be easier to obtain this information. Companies that use a CRM system (What is a CRM system?) I will have no problem with this. If you haven’t started a customer record business yet, the first step in contributing to better business results in the new year is to do so. Whether you choose Excel or a simple CRM system, you will make a significant step for your sales.