Whether you’re new to selling products online or not, all companies have the same basic aim: to see sales go up rather than down! However, for many businesses owners, once they know their revenue, their interest in their company’s sales and marketing data ends.
Yet if NO-ONE in your team is continually analysing the trends which are driving your business towards success or failure, you risk missing out on opportunities or – worse – repeatedly making the same mistake.
Around 60-70% of businesses who sell their products on online platforms get by with a “hoping for the best” attitude. They don’t take the time to:
Crunch the numbers.
Analyse the trends.
And get to the bottom of what makes their customers tick.
And in online marketplaces where the competition is fierce, it is all the more necessary to exploit every advantage you have.
A Dwight D. Eisenhower quote has stayed with us: “Plans are useless, but planning is indispensable.” It may seem like a stretch to compare online sales to warfare but hear us out!
Sure, no one can predict the future. Setting a plan and expecting to stick to it slavishly will always be futile.
However, digging through the data and going through the process of planning is essential. It is through this that you can get to know your audience and your platform as well as which actions yield the best results and which areas need to be avoided at all costs.
This act of preparing for every eventuality is the difference between your business thriving and it stumbling blindly through the dark…
One SellBeyond client found this to be true earlier this year. Amazon US sales had dropped and they did not have a clear idea of what was going wrong. With thousands of product listings, the amount of data was somewhat overwhelming, but Sell Beyond went through it all meticulously, from sales figures to advertising reports, not forgetting conversion rates. We were able to draw out trends, identify recurring problems and prioritise key ranges for improvements. In June, sales were up.
The only way to prepare for more sales in the future is to understand what happened in the past. If you would like to make improvements to your own online business, SellBeyond will analyse your data, identify priorities, and come up with creative solutions to keep those sales figures moving up.
Get in touch with us at firstname.lastname@example.org and let us help shed light on where you need to go.