Sales Analytics as the trending solution for e-commerce business
Nowadays sales analytics have given e-commerce business owners the ability to increase conversion rate and profitability by generating a better understanding of consumer behaviour and gaining deeper customer insights. With an increasing number of merchants using analytics to power up their businesses, others that fail to get access to this technology might be left behind in the competition. Sales tracking is ideal for businesses to see exactly how their strategies are performing. There are several ways in which business owners use sales analytics to improve sales growth.
Better decision making
Meanwhile, sales tracking can help business owners better interpret how different customers interact and make purchases through continuously updated historical sales data. Using sales data analytics and customer database, you can monitor customer activities and tie them to specific sales strategies. A better understanding of customer behaviour enables businesses to market more proper content, determine the right objectives and make better decisions to achieve them.
More accurate sales forecast
With sales analytics, businesses have a much better chance of meeting goals and predicting their future sales. The use of analytics obviously results in more accurate sales forecasts. Data-driven sales forecast allows business owners to take advantage of special deals or expansion opportunities that may arise, knowing that whether there are enough available resources to support business.
Effective customer lifecycle management
In the practice of customer relationship management, customer life cycle is used to describe different stages a customer goes through when considering, purchasing, using, and maintaining loyalty to your products. Effective management of customer life cycle is crucial to cultivate and develop customer relationship. Tracking the number of customers in each stage of customer life cycle helps business owners determine purchasing power and customer pattern as well as handle cash flow problem. Sales tracking has made it easy to analyze customer wants/ needs that characterize target customers, identify the best ways to improve customer support services and enhance customer experiences.
Assist marketing campaigns
Sales analytics direct major advertising campaigns and promotions by determining the best selling and repeatedly purchased products. Now business owners not only know which products catch first attention from most people, but also which products obtain the most repeated purchases, and you can utilize that by putting those popular items in advertising campaigns on multiple marketing channels. Through the establishment of direct links between specific deals and marketing efforts, various campaigns can be analyzed to determine which are the most effective, and which produce the best ROI (return on investment). Promoting the right products is the key to boost sales and earn more customer loyalty.
Simi Sales Assistant provides businesses with all benefits listed above through real-time sales data reports and dashboard made easy to access, sales signal tracking and alerts, detailed customer database, instant contact with customers. These features give you up-to-date sales analytics to identify the best solutions and take necessary actions in time.