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The Weekly Budget Analysis Report
Retail Performer records each Salesperson's sales and compares them to �Last Year's Sales� (what they would have had to make in the same week last year), compared to �This Year's Goal� (what they are expected to make during this week). The purpose of this tracking methodology is to easily and quickly identify who is performing poorly and who is achieving goals.
You can quickly identify your best and worst performers compared to last year and this year. The Salespeople selling LESS than last year, or MORE than last year but LESS than this year, require coaching in a specific area of sales skill � identified in the Weekly KPI Analysis Report (and explained in the next section). The salespeople performing better than this year's goal can be rewarded.
Additionally the Weekly Sales Budget Report above shows Weekly Sales
values in Red, Black and Green, revealing, at a glance, how well the Salesperson
performed within the parameters of last years sales and this years goal. A Red value
indicates the Salesperson sold LESS than Last Year's Sales. A black value indicates
the Salesperson performed better than last year but not as well as expected this
year. Green values indicate Salespeople are selling more than this year's goal.
Using this approach to identifying performance can reveal, at a glance, the truth
about a Salesperson's performance. When viewed in the example trend report above
we can easily identify which Salespeople are improving, which ones are unchanged,
and which ones are getting worse.
In the Trend Report above we can quickly see that:
Johnstone is improving each week
Madden is roughly unchanged
Mason is improving slowly
McCubbin is our best performer ( and could be rewarded)
Parkes is a great salesperson but had a poor patch from week 5 to 9 (perhaps she
was ill in week 7 and took time to recover? You as store manager would know.
Sharp got progressively worse. She left in week 10.
The Weekly KPI Analysis Report (KPI = Key Performance Indicator)
As we have seen, the first report we usually look at is the Weekly Budget Analysis which reveals who performed better or worse than their own individual sales goal. The next report we look at, Weekly KPI Analysis, will reveal each Salesperson's most deficient statistic, or what we call �undersupplied KPI�. The report is interactive in that you can click on the undersupplied KPI text to view specific coaching or focus tips about how to improve that particular area of selling expertise, both offline within Retail Performer, and online at our FREE 24/7 Online Coaching Library.
In the Weekly KPI Analysis report below we can see each Salesperson's individual Sales, Transactions, and Items sold, compared to the Store Average. We can also see the undersupplied KPI, (which you can click on (in RP) to get Coaching Focus Tips).
The last three columns of the report reveal the reason for the undersupplied KPI.
In the example Weekly KPI Analysis Report above, Sharp's undersupplied KPI is �Items per Sale �. The first of the last three columns says that �HAD Sharp's average sale of $69 been at the store average of $114, Sharp would have sold $2803. In the second last column, HAD Sharp's �Items per sale� of 1.68 been at the store average of 3.02 Sharp would have sold $3471. In the last column, HAD Sharp's �Sales per hour� of $129 been at the store average of $169, Sharp would have sold $1355. Thus, $3471 is the greatest sales increase � the deficient statistic - or undersupplied KPI - being Items per sale.
Immediately one may conclude that Sharp lacks the knowledge to �upsell� a sale and should be trained in the area of �adding-on�. By training in this specific area of expertise Sharp can be expected to increase sales at optimum performance.
Retail Performer Management Reports will give you great insights into what is going on with your staff and your store if you know how to use them properly and what they are trying to tell you. Simply apply the principles identified here to all the reports in RP whether by day, week, or quarter.
There are 9 Reports in RP split into 3 sections on the Reports Dashboard Menu.
Daily Budget Predictions
Daily Budget Analysis
Daily KPI Analysis
Weekly Budget Predictions
Weekly Budget Analysis
Weekly KPI Analysis
Quarterly Analysis by Salesperson
Quarterly Analysis by Store
Quarterly Trend Analysis
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