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Being Smart with your Sales Statistics

5 juni 2013

Stats

A couple of weeks ago we released a new and improved portal, giving you more tools to optimise your business. How do you make use of your sales statistics and business insights? Here are some of our top tips!

Boosting your sales
Your sales statistics provide a great overview of your top-selling products. This could help you plan your inventory, but also give you some pointers on how your sales could be given an extra push. Perhaps you could afford to slightly raise the price of your most popular products in order to increase margins? Or lower the price of the products that aren’t selling as well? Another idea could be to offer free samples to get people to try something new! The key is to experiment and to measure results – so make sure to keep track of your sales data over time.

Rewarding loyal customers
Have you noticed that you can see a percentage of how many returning customers you have? If this number is high, it probably means that you have a lot of customers who love what you do. Make use of this! One idea is to start rewarding customers for spreading the word about your business. Good news travels fast. If your percentage of returning customers is low, perhaps it could be a good idea to start a loyalty program. It doesn’t have to be more complicated than offering a coffee card where the 10th cup is on the house.

Optimising your time
When do you take most payments? Use the graph to see when your business has its peaks. Perhaps you’ll find out that most of your sales are made on Fridays, or in May, or the week after payday. This may give some pointers as to whether your business hours should be extended, when to have extra staff on the clock, and when to have those fresh sandwiches ready to be served.

Digging deeper
For more detailed statistics – download the Excel report to see insights such as sales figures divided per staff member and sales per product. This report will also make your accounting much easier!

One last thing
Remember to record your cash payments in the iZettle app as well. This way, your sales statistics will cover all the payments you’ve taken, and your reports will be even more accurate!

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