Buyer behaviour data can transform sales performance

Today, Business Intelligence has become more than just an option for companies – it’s a must-have technology for organisations that want to increase their sales and profits. In the changing landscape of the past year, it’s crucial to analyze data, track stock performance, and constantly adapt through new marketing and sales strategies.
Conducting buyer behavior analysis plays a vital role for many departments in a business. Customer interaction information is the strongest foundation on which to build sustainable strategies that are both successful and cost-effective. In addition, using BI tools to understand patterns helps you decide which channels and how to promote your products and estimate sales trends.
No matter what industry your company is in, if you want to turn insights into practical action for your organisation, start by asking yourself these questions:

Here are the key performance indicators you should be tracking in order to predict customer preferences and plan the next steps in the sales process:

Transactions per customer

This is an extremely important value as it shows how much customers spend when they place an order on the website or in the shop. High values indicate that people are buying expensive products or purchasing several goods at once.
All companies that base their decisions on data should track this value because it shows the effectiveness of their sales strategies and directly influences pricing policies. Furthermore, if you can determine the average amount spent on each channel, you’ll be able to understand which promotions bring customers closer to buying and which channels have better conversion rates.
By knowing how much customers spend on each purchase, you can estimate your sales flow and have a more finely tuned cash flow. In addition, you know your audience, which improves targeting, and you can see how much they are willing to pay for your products. You can then adjust your pricing policies to meet your customers’ expectations and possibilities. However, the ultimate goal should be to increase AOV (average order value), because when you improve this value, you can have a direct impact on sales and revenue growth.

Average Sales per Customer

This is a more specific KPI that helps you to do an in-depth analysis on each product or product category. For example, you can find out how much of your total revenue is spent on average on products in the “summer collection”.
This KPI will show you which products are the most popular with customers and which ones bring in the most revenue. Are customers buying standard products or are they more attracted to premium items? Are seasonal campaigns successful? Are people buying more of the same item with one purchase?
Analyse and find out the answers to these questions, then decide which products are worth investing in so you can adjust your marketing and sales strategies accordingly.

Sell Through Rate

The sell-through rate shows how many of the products you have in stock are sold compared to the quantity of product you had in total. In short, it’s the ideal KPI if you want to adjust the supply and demand process. It’s also a great financial indicator for understanding your supply costs.
Therefore, if you run out of too much product in a given time frame, then you should find out where the problem is and rethink your advertising strategies, product placement options, target audience and more. If you’ve run out of stock faster than expected, make sure that in future you supply the right amount of products to meet customer needs.

There are many sales metrics you need to track to see if your team is working in the right direction and if your efforts are paying off. What you should do is pick those actions that can put you above the competition.
KPI analysis is essential for marketing and sales strategies and business growth. Fortunately, Power BI tools allow you to integrate customer behavior data from multiple sources, customize the analysis, and get comprehensive reports that are easy to understand, even by people without a technical background. Such insights are relevant to identifying challenges and influencing business decisions.