What are your New Year’s Resolutions?
The New Year is the time of setting goals. Countless gym memberships are created, first pages of future best sellers are written, and plenty of piggy banks start saving up coins for travel. We hope that you can set and meet all your goals that for this year, but if you have room for just one more resolution, we’d like to help.
Our resolution we’re setting for all ERPLY customers? Increase yearly sales.
We know that sounds tough, but we have tons of functionality to help you meet this goal. It may even turn out to be the easiest one on your list! So where do we start?
Review Last Year’s Sales
Since your business uses ERPLY for tracking inventory and sales data, we have the entirety of last years data ready for you to take a look at. In the Back Office, navigate to Reports -> Sales and set the date range to “January 1, 2015 – December 31, 2015.” Once set, any report you choose will gather data from all of last year.
Suggested Reports & What They Mean
Sales Summary: Shows the total sales. Use this to get an idea of how high you want to reach next. 10% more? 20% more? It’s up to you, but having a baseline by running this report is a great way to get started.
Sales by Product: A majority of our reports have clickable headers. This means you can run a Sales by Product report, click the “Amount” column, and see what product(s) sold the most last year. Is there a theme to the products? Do they have similar prices? What drew people to those items?
Sales by Customer Group: This is a great report for ERPLY users that sign up for a loyalty program at the Point of Sale. We suggest loyalty members be put in a single Customer Group for just this reason. Here you can see if those that are members vs. customers that didn’t sign up make more frequent purchases or if their sales are higher in general. By looking at this data, ERPLY users can get an idea of what certain customers purchase, and in turn create promotions or deals to get them in your store more this year.
Sales by Weekday: This report generates a graph to show how many sales you have on any given day of the week. Do Friday’s have a significant spike in sales? Try having additional staff to better help customers when it’s busiest. Do Wednesday’s average the least amount of sales of the week? Have fewer employees during that time.
These are just a few examples to help you get an idea of the year ahead. As the year carries on, try and form the habit of checking these reports and others at least once a month. This will keep you up to date with any trends that may be happening in your store and help you account for any changes. If you’d like, compare yearly sales week by week. As the first week of 2017 comes to a close, compare the data you’ve recently gathered with what was gathered the first week of 2016. By seeing the similarities and differences, we’re confident that your company will thrive in the new year! 🎉