Generating sales, and inherently profits is the non-negotiable prerequisite to guarantee the sustainability of a business. There is thus a range of tools designed to effectively manage its commercial activity.
However, it is not a question of compiling figures or other incomprehensible ratios in dashboards. On the contrary, the challenge is to translate the data collected to make it useful and therefore usable by the teams in the field.
As you will have understood, processing this information qualitatively by giving it meaning is essential for understanding the market in which the company is positioned and anticipating its evolution. The business analysis contributes in this sense to the performance of the results.
Why do a business analysis?
Relevant business analysis can exhaustively list and understand the reasons for the success or failure of a sale. It facilitates decision-making, the reproduction of a sales performance while constituting a source of motivation for the members of the sales team in the field.
How to do a business analysis?
The performance indicators and other metrics of a business dashboard can be valuable, provided they are put to good use. In this perspective, it is necessary to set up a relevant business analysis. This is a rigorous process that results in the analysis of the figures collected from different angles: markets, communication channels, products, sales teams, or even customers. Here is how to use it.
Understanding busy markets
Commercial analysis under a “market” axis consists in understanding the specificities relating to a sector or a geographical location. This involves, for example, breaking down sales results by region by linking them to feedback from the sales teams.
This analysis will have a positive impact, insofar as it will make it possible in particular to adapt prospecting techniques and the commercial offer to the characteristics of a country or a locality, to better meet the expectations of prospects and customers.
The benefit will translate into time savings and sales performance based on the workforce and efforts to achieve defined objectives.
Adjust the use of favored channels
The challenge of this phase is to unite the marketing teams and sales representatives around the purchasing cycle as defined by the inbound sales methodology: awareness, consideration, decision.
In this way, marketing will be able to put in place a content strategy and tools adapted to the sales funnel as well as the customer lifecycle.
Such a sales analysis will undoubtedly optimize sales performance by:
- Adjusting budgets and prospecting efforts according to the channels favored by prospects and customers: mobile and other social networks.
- Adopting new customer acquisition techniques: contextualized, targeted and personalized emailing, native and non-intrusive internet advertising.
The products presented
Is your commercial offer in line with demand? If your products or services fail to convince their audience, then the marketing efforts made are in vain.
From this perspective, analysis under a “product” axis is essential. This is to highlight the life cycle of products by classifying them according to their performance on the market:
- Stars: good profitability, financing needs.
- Dilemma: low profitability, high financing needs.
- Deadweight: low profitability, low financing needs.
- Milk cows: high profitability, low financing needs.
The interest of this phase will be to adopt an agile and flexible business strategy by adapting business objectives to market demand.
The performance of sales teams
There is no sale without sales performance, no matter what market conditions or how complex a product is. The effectiveness of a sales team depends on its expertise in promoting and enhancing an offer as well as on full mastery of the subtleties of the products or services sold to convince a customer.
Analyzing the efficiency of sales teams offers real advantages, in particular being able to:
- Identify the best practices of the most successful salespeople to allow other team members to adopt them in turn.
- Drive commercial activity by generating additional sales and avoiding sales cannibalization.
- Facilitate the adoption of powerful tools to allow teams to access information and other essential data on all media, even when on the move.
The clients themselves
Analyzing sales from a “customer” perspective will allow you to understand their point of view, that is to say what is their purchasing decision-making process, what are their expectations regarding your offer. ?
This analysis is made possible by the crossing of data extracted from market studies, feedback from the sales teams as well as by measuring customer satisfaction, such as the NPS (Net Promoter Score).
Knowing your customers is therefore a significant asset for understanding their behavior, anticipating their needs and placing them at the center of your commercial strategy.