When it comes to ensuring the success of an eCommerce business, you need to count on the analytics and sales report. These are effective metrics that help you make more informed decisions. Even if we take the sales report in particular, it is not just a count of the volume of product you sold from your site over time. There are many other positives of the same. It helps you spot pitfalls, trends and ensure you that you are going on the right track.
In order to thrive in the eCommerce industry, you need to keep track of these analytic report and quick informed decisions. With the business matrix at your fingertip, you will be sound enough to figure out where you are going wrong and where you are going on the right track. This is where the sales report can help you. Basically, a sales report shows the real face of your online business where you come to know if your business is increasing or declining. An effective sales analysis helps you analyze and comprehend how to turn data insights into successful business strategies.
If you are an OpenCart eCommerce store owner, then, this blog can be of special help to you. I’ll run you through the basic need for keeping track of the analytical reports and the ways by which you can get the sales report of your OpenCart store. Read on to know.
Whenever of the financial year, the business managers can break down the patterns in the sales report to locate the best strategy. Managers ordinarily utilize the sales reports to recognize the market patterns and best chances to expand the business volume. For instance, you may find that a client in the history has demonstrated an expanded sales amid certain times. This information can be utilized by you or your sales managers to request extra business during the pinnacle times. So, if your OpenCart site is capable of generating a detailed sales report whenever required, you are going in the right direction.
Your OpenCart sales report will show your website’s actual sales for a specific period- daily, weekly, monthly, quarterly, yearly or for any time frame that you feel significant. You can also generate a report for specific divisions of your websites such as product sales, coupon conversions, total revenue, missed orders, discounts etc. Thus, you can utilize these generated reports (actual) and compare them with your projected sales. It will make sure if you are moving in the right direction or you need to check your course of action.
Generation of the current sales report is not enough. Your OpenCart sales report would be more effective if it includes the well-versed comparison between the old and new sales data. An Open cart sales report can include the percentage of revenue coming from different customer groups, and this breakdown will be useful for you to know if you are retaining the business. This new vs old analysis will also be effective in measuring the efficacy of your new, and current advertising, offers, customer targeting strategies and conversion optimization.
One of the patterns that your OpenCart sales report can uncover is whether there is an issue with the product demand. A long haul decrease in sales of an item may show a few issues. It could be the competition that is eroding market share, or different items sold being sold on your site might do likewise. A long haul decay implies that it’s an ideal time for quit offering that item. At times, it could likewise be uncovered that clients’ needs are evolving. A single OpenCart sales report can do wonders for you and can spare your from conceivable debacles on the off chance that you use the information appropriately.
Along with the sales volume, a deeper insight into the report can help you understand customer behavior. You should be monitoring how they interact with your products and what they like/dislike. By tracking the sales report, you can effortlessly see which product is grabbing the attention of the customers and which one is not. You can, hence, check what’s wrong with the products that are not selling. Additionally, you can even amp the marketing strategies of the popular products.
Just tracking the sales is not enough. Your analysis should be location-based. The sales report can provide you a better insight into the purchase behavior of the customers based on their location. This is one of the ways to figure out the demographics of your prospective customers base. In addition to this, you can find out where exactly this audience base is located. This way you know the taste and preferences of the people of that particular location. This can ultimately help you in maintaining a balance between customer retention and acquisition.
There are a number of tools that can help you retrieve the detailed sales report of your store. Integrating Google Analytics is one of the ways. However, for OpenCart store owners, Knowband has an easier and budget-friendly solution. The OpenCart Birds Eye View Report plugin can be installed on your website that will uncover all the above secrets for you. The admin can have an access to a detailed reporting system results of which can be seen on the OpenCart dashboard itself. Using this OpenCart sales reporting plugin, you can generate and compare yearly, monthly, weekly, and daily reports. The graphical and tabular representation offered by the OpenCart plugin allows you to compare the old vs new data very effectively at a glance.
We have seen that how a single sales report analysis can do wonders for your online business. Wouldn’t it be a bad choice to ignore the importance of an efficient OpenCart sales reporting system?
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