Sales analysis is an important activity that allows you to delve deeper into your data to determine trends, identify seasonality, work out lead times, and essentially improve the way in which your manufacturing company operates. For electric wire manufacturers, competing in a massive global market, being able to determine where to focus next, and how to improve your sales activities is a business-critical process. In this article, we look at an overview of the electric wire manufacturing industry, and what is generally included in a sales analysis. Then we review how automation and the right tools, such as Customer Relationship Management (CRM) software can streamline these processes, and what you need to consider before adopting these tools for yourself.

An overview of the electric wire manufacturing industry

According to Fact.MR the wire and cable market is set to reach $193.7 billion (USD) in 2024 and predicted to expand at a CAGR of 5.2% to reach $321.5 billion (USD) by the end of 2034.

Wire and market industry stat

The industry has seen considerable growth in the direction of smart initiatives and upgrades that are pushing more specific connections and modernised wiring solutions.

As with many industries there has been a growing consumer preference for more environmentally sustainable products, and a desire to incorporate technology into wiring for greater enhancement of quality and efficiency overall.

Companies within the industry are looking to streamline their internal processes and drive data-driven operations to the forefront of their business operations, in order to make better use of resources and budgets.

TEB provides manufacturers with the opportunity to get ahead. With strategic automation, and the support of a full suite of services that are optimised with new innovations, TEB Apps helps customers with a powerful business tool that offers levels of functionality no other service can or does provide (such as our unique ability to offer fully personalised and customisable Terms and Conditions on a customer by customer basis).

What is included in a sales analysis report

A comprehensive sales analysis looks at more than just your sales figures, although that is of course part of it.

When you put together a sales analysis for your electrical wire manufacturing company, you need to consider, at a minimum:

  • Key Performance Indicators (KPIs)
  • Number of standardised products sold
  • Number of customised or individualised products sold
  • Customer acquisition costs
  • Net revenue retention
  • Net sales
  • Overall profits
  • Team performance
  • Sales growth
  • New opportunities

The right sales reporting can be critical to your success, and allow your manufacturing business to make smart, data-driven decisions and forecast with greater accuracy.

The depth and level of your reporting will depend on your needs and what you are aiming to achieve with your business, but even the smallest manufacturer should be making use of the data they gather to improve how they function going forward.

How automation and CRM can streamline sales analysis

CRM and automation can help to streamline your sales analysis by ensuring that individually important but repetitive tasks are taken care of to a pre-defined standard, and ensure that all of your data is reliable, available, and correctly formatted.

When you use automation and CRM for sales analysis, it can help by:

Automation and CRM benefits
  • Showing you exactly where in the pipeline your leads are at any given time.
  • Identify conversion drivers and ideal opportunities to engage.
  • Monitor who is engaging with what content and when.
  • Gather reliable data in real-time and near-real-time.
  • Actively measure KPIs and allow for fast business decisions.

What to consider before adopting sales analysis tools for your business

In order to make the most of your data, it needs to be easily accessible, formatted in a way that is usable, and have the right analytical tools ready to go over it. This means you need a system in place that will allow you to do these tasks, so that should be your first consideration.

Once you are ready to start your data analysis to review your sales information, you ought to consider:

  • What size and level of complexity you need the tool to function at, both now and in the future.
  • How well the tool will scale and remain compatible with your needs.
  • What format/s your data is in, and the level of interpretability you are going to need.
  • Whether there are multiple ways of engaging with the data and customisation on what you can report on.
  • The type/s of data analytics framework you intend to work with, and whether these are supported.
  • Access and budget costs, as well as any additional licensing and how the program might integrate with third-party programs you might be or want to be using.

Some tools may provide different levels of support or functionality, and others may only offer very niche operations.

It is worth considering your budget and your needs, and looking to providers who are capable of providing the right level of automation combined with options such as successful sales tracking, CRM and team management, and the other functions you are going to need to perform the depth of analysis you require.

How to do sales analysis better with TEB Apps

Using TEB to improve your business will allow you to benefit from strategic automation and powerful applications, designed to maximise your resources and ensure you can make the best of every opportunity.

When you use TEB Apps to optimise and streamline your sales analysis you can expect to benefit from:

TEB Apps sales analysis benefits
  • Fast and reliable report generation with the flexibility to customise your reports as you require.
  • Full sales tracking that monitors every stage of your sales funnel, your customer journey, and your own activities with the customer.
  • Robust sales history allowing you to view, review, and analyse your customer engagements, sales, and opportunities.
  • Intuitive funnel and bucket visualisations so your data is presented in a way that makes sense, is easy to understand, and can be comprehensively reported on.

TEB provides you with all the tools you need to bring strategic automation into your company, and the support and training to ensure it works for you. Book a demo today and take the first step into your next digital evolution.

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