You need to consider these factors in your projection:
Posted: Sat Jan 18, 2025 8:31 am
For example, target RM40k from RM120k. . Agent or Reseller: If there are agents or resellers, break down the target for them. For example, RM20k from RM120k through resellers. c. Breakdown by Product SKU If we have several products or SKUs (Stock Keeping Units), break down the target by product. This helps us focus on the products that sell the most or need more promotion. For example: Product A: Target RM50k Product B: Target RM40k Product C: Target RM30k d. Consider Seasonal Factors and Trends Sometimes, our sales can fluctuate according to seasons or trends.
Seasonal: For example, sales may increase during festive seasons or school spain phone number resource holidays. So, adjust your target for those months. . Trends: If there are new trends that affect demand, include them in the projection. For example, if there is a new trend in fashion, the demand for a particular product may increase. e. Include Expected Expenses and Profit Margins Don't forget to include expected costs and profit margins in the projection. These include: Operating Costs: Costs involved in production and marketing. For example, raw material costs, advertising costs, staff salaries.
. Profit Margin: Estimate the expected profit margin for each product or service. This helps us set realistic sales targets. After making a detailed projection like this, we can monitor performance more effectively. #5. Location of Targets, KPIs, Reporting Okay, gang, once we've set all the plans and projections, it's time to set targets, KPIs, and reporting. These are all important for us to monitor business progress and analyze. Let's take a closer look! a. Clear Target Location Target Specific: Set specific and clear targets. For example, a monthly sales target of RM10k, or wanting to increase the number of leads by 20% this month.
Seasonal: For example, sales may increase during festive seasons or school spain phone number resource holidays. So, adjust your target for those months. . Trends: If there are new trends that affect demand, include them in the projection. For example, if there is a new trend in fashion, the demand for a particular product may increase. e. Include Expected Expenses and Profit Margins Don't forget to include expected costs and profit margins in the projection. These include: Operating Costs: Costs involved in production and marketing. For example, raw material costs, advertising costs, staff salaries.
. Profit Margin: Estimate the expected profit margin for each product or service. This helps us set realistic sales targets. After making a detailed projection like this, we can monitor performance more effectively. #5. Location of Targets, KPIs, Reporting Okay, gang, once we've set all the plans and projections, it's time to set targets, KPIs, and reporting. These are all important for us to monitor business progress and analyze. Let's take a closer look! a. Clear Target Location Target Specific: Set specific and clear targets. For example, a monthly sales target of RM10k, or wanting to increase the number of leads by 20% this month.