A client was selling large quantities of a clothing line to hundreds of retailer nationwide, but her sales weren’t very profitable. She also had significant excess inventory that was going to waste and costing her money. We needed to figure out why.
Tackling the Mount Everest of Sales Data
Our client was overwhelmed by a mountain of sales data that she couldn’t make sense of. Momentum CFO knew that if we could present information to her visually, it would be much easier to understand and act upon. To show her money-making opportunities, we developed dashboards that provided insight about her sales and profitability.
Things we discovered included:
- The most popular colors, sizes, and product lines:
We focused on producing those items to increase sales volume and ensure that there was little to no excess inventory that would go to waste.
- Where her customers were located, how frequently they ordered, and the average order size:
By plotting sales by customer on a map, we discovered opportunities to sell more in specific markets. She hired another salesperson to increase sales to existing customers and capitalize on new sales opportunities in underserved markets.
- Which promotions had been most effective:
The client ran similar promotions that increased sales volume and improved brand recognition.
- The gross profit for many of her products was too low:
We developed a new pricing structure that increased the profit on sales to national retailers by 50%.