We talk a lot about analytics around here, but what does that really mean? In a nutshell, analytics is about finding patterns in data and then using that data to grow your business.
Understanding analytics for market trends
By using analytics, we spot market trends and help you make the most of them. We examine data from your industry to identify opportunities for you as an individual, pinpointing categories ripe for further growth and those where resources can be trimmed back.
For example, one trend we discovered showed equipment dealers’ new customers steadily purchase parts, sales, and services straight away. They didn’t buy heavy machines, however, until three years after first working with a dealer. Our data showed these customers wanted to know the dealer better before making such a big purchase.
Drawing on that data, we targeted our client’s customers for machine buys just as they began thinking about it themselves. This approach secured more sales and boosted our client’s bottom line.
Applying analytics to your business
Our analytics can also help boost individual product sales. If we see a certain item’s not selling well, we can promote a sale to get it moving again. Conversely, if a certain product’s selling well, we generate new promotions around that, enhancing customer retention.
We also conduct surveys to find out why sales are up or down, helping inform future marketing decisions. And on an even deeper level, we use analytics to tailor marketing messages to core customers while also augmenting messages to capture new markets.
With Winsby’s insights from analyzing your data, you will know market trends before they start, helping you pivot to profit from changes faster and with zero stress. Either way you cut it, Winsby analytics is a vital tool for understanding your market, identifying strengths, and optimizing growth when and where you need it most.