Savvy retailers can take advantage of DataQlick inventory management system to gain a keen insight into the buying habits of their valued customers. While this is especially important to expanding a customer base in any marketing channel, for attracting online shoppers, it is crucial to have an intimate knowledge of how they like to spend their money, where and why.
By applying an innovative small business management tool integrated with your inventory management system you will have access to reliable data from your sales and stock history. With proper analysis, this can be the foundation on which to base your purchase orders, inventory control, shipments, marketing directions as well as campaigns and so much more.
Furthermore, this essential inventory data will be presented in visually engaging graphs and charts that will be easy to read and adjustments can be made without the need for a professional analyst to decipher the statistics from your sales and inventory history.
Here are some other insights an intuitive business management system can proffer your marketing campaigns.
1. Better Understanding of Customer Needs
By integrating a business intelligence component into your inventory management system you will be presented with key performance indicators that illustrate the products that are more popular with your customers against those products that are not selling well. This information can provide the benchmarks for future stock purchasing, special promotions and much more. Further inquiries into these figures will reveal more specific clues into your customers spending habits.
2. Focus on Target Demographics
Your integrated management system will also indicate where your most important customer pools are. By comparing the values and frequencies of orders made, you will have the facts that identify which individuals are bringing you the most business. These can then be targeted for future ad campaigns special promotions and even personalized correspondence on the social media platform of their choice.
3. Highlight Top-Grossing Channels and Locations
If you are operating on multi-channel networks or across various physical locations, this software solution will provide you with the numbers showing which of your locations the hottest seller is. From there you will be able to explore and replicate the factors that contribute to this unprecedented success; factors such as product placement, customer service, etc. Having a business management tool will help you better understand these performance indicators and produce favorable conditions for success.
When preparing future marketing directions your plans are only as good as the information supporting them, even better if this information is presented in an easy to access and user-friendly format. With proper application of an inventory management system as the part of a larger business analysis program, you can be confident your progress is guided.