When is the last time you analysed the sales reports of your company? Any freight forwarder, no matter its size, should measure several sales parameters to know how they are performing. Otherwise we are making decisions blindly and it will be more difficult to improve and to plan based strategies.
Below are 5 types of sales analysis freight forwarders should analyse weekly:
Number of offers issued and accepted
To get a general overview of your sales process, compare from time to time how many quotations you are issuing. Identify if certain circumstances affect the quoting requests you are receiving, such as sales campaign, new team member, participation in an event, etc.
Monitor the ratio between offers accepted and offers issued, which should remain stable over time. If it fluctuates significantly, further analyses should be conducted. If the % of offers accepted increase, it could be a sign that your sales team is performing well and understand your customers’ needs, and that your prices remain competitive. However, if the % drops, you will need to make adjustments in your sales management and further monitor until you reach a good ratio.
Top origins/destinations asked
By having deep knowledge of the most requested locations, ports, airports of origin and destination for import and export freight services, the freight forwarder can concentrate its efforts in obtaining the most competitive suppliers rates for those lines. Besides, by studying alternative transport methods you may offer customers cost saving solutions to their transportation requirements.
Analyse individual clients activity
To understand customers’ needs and focus on the sales strategy, conduct sales analysis of clients’ activity individually. Several ratios can be measured, for instance to identify growing customers, customers demanding new services, customers that often request for quotes but hardly sign, or customers that you are losing, etc. By monitoring clients’ activity, a freight forwarder can take advantage of arising opportunities and anticipate weakness handling.
Pay special attention to new clients to detect their potential and gain their loyalty as relationships are at an early and fragile stage. It could be worth knowing where a new customer has heard of our business, so we can identify valued sources of new contacts.
Secondary to this, you can complete a sales analysis of the services requests for each new client, keeping a detailed database of their leads, inquiries and contracted services. You can obtain useful information that can serve you to approach the new customers with tailor made solutions for engaging them to your business.
Sales campaigns success
Sales analysis will also allow you to see if a commercial or marketing campaign has been successful. You can track leads, valued requests, effective contracts and customer feedback. This will allow you to make any necessary adjustments and improvements in your overall sales strategy.
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