Every business needs some sort of analytics to evaluate their success each month. If you don’t have one, you should make up one soon. The analytics would help you make decisions regarding future marketing, sales, ordering, or just to make any major business moves. You can do this by using a monthly graph, chart, surveys, sales records, return records, complaints, demographics, items bought, time they bought and how much they buy. All of these will help you to make future decisions regarding your business needs.
You can also make up other analytics too and these are only some suggestions. However, most business have some sort of analytics build in already like club cards, or surveys or demographic. You can’t go without such valuable information. I know that I rely on such information to make major business moves. I’ve always studied my clients and in doing so, I’m able to target them better and provide them with the merchandise that they will buy. If you own a business, you have to pay close attention to your analytics and your clients. They’re the way to success. You have to shape your business into the demands of your customers and not just your taste. After all they will be the one who will be doing the spending.
You can have it on the computer since it’s easier to graph it or erase it down the road and you save paper. You can transfer it from paper to the computer. You can use some program like excel or words to get some graphing done or just to chart. Excel is excellent for any business owner. You would go to your excel and enter each month’s sales number and then enter the number of losses or return. You would also enter the product type and the type of customers that purchase them. You would also enter their address or phone number to get in touch with them for more marketing needs. You would have to organize it in this fashion in order to keep track of your business records. You can also enter as much information as you want by entering them in the chart. Your chart should be there on a monthly basis and you can use it to train employees or managers and let them see how you’re progressing.
You can also use this record down problems, lawsuit, complaint, surveys, suggestion because all of these would affect your business and if you can make changes, you should do it to prevent further problems. If you have a manager running your business, you should have them record all of these down so that you can have a better understanding of things. They can send it over in the emails to you so you can take a look at what’s going on with your business. These things are a great way to keep your managers in checks. I noticed that a lot of managers don’t do everything correctly when the owner is in another state. This is when corporate surveys come in handy. You should allow customers call in and make complaints. This way the managers and employees would do their jobs well. The more analytics that you have build in, the better you can monitor the progress of your business.