How Data Analytics Help Sales Reps

Key Metric: Purchase Frequency

Sales analytics help you draw valuable conclusions and insights for your business. They allow you to answer key questions about your customers and operations. Are leads falling through the cracks? Is your team working on the right accounts? Can they monitor how close they are to hitting their sales quota daily? What's important to your customers? Who are your target customers?

One of the most critical metrics that sales reps need to pay attention to is the last purchase date for customers. Knowing when customers last purchased from you allows your sales team to reach out to them if too much time has passed, before they start buying from one of your competitors.

Why last purchase date is an important sales analytic

• You see when customers are about to leave – In most industries, if a customer has not purchased from you for 8 – 12 weeks, then they are most likely going to leave you for a competitor. Customers will often stop buying from you without saying anything, so understanding this timeline will help you get ahead of the situation and contact them.
• Learn about problems that need to be addressed – If a regular customer starts to have a downward trend in purchase frequency or has not purchased from you for months, then that may indicate there is a problem that needs to be addressed. You now have the opportunity to contact them and learn why they aren't purchasing from you before they buy from a competitor.
• Know when to encourage customers to buy again – When a customer hasn't purchased from you in weeks or months, then your sales reps should contact them. You should also encourage them to purchase again with emails that highlight what they've bought in the past and possibly offering a discount.

Knowledge is power for your sales reps
Retaining a wavering customer often comes down to good timing. To have good timing, sales reps need sales analytics with information they can use effectively. By arming reps with the knowledge of when customers last purchased and how often they should purchase, they can contact them and offer the products or services they need, as well address any issues the customer may be having. In many situations, contacting a customer is enough to convince them to stay with you.

The Last Word
You need data analytics to reach your business goals. It's how you can better understand your customers, sales performance, products, and your company as a whole. Without analyzing key information, you're moving blindly in the dark.

Let Winsby's analytics experts walk you through the numbers every month and provide insights about trends that may be happening with your business —good or bad— that you might not be aware of. Call us at (312) 870-5656 or contact us online to talk to one of our representatives today.

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