Customers' Buying Patterns for Forecasting Sales

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Lesson Summary:

When you are able to see at a glance, the products your customers are ordering, you'll be able to forecast their future sales and manage your inventory of stock efficiently.

Knowing which products and when your customers are buying will let you know when to promote these products to them.

What You'll Learn In This Lesson:

  • How to identify which products your customers are buying.
  • How to establish when your customers are buying.
  • What your customers annual budget is for your products.

Downloads/Resources

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Video Transcript

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Formulated Worksheet

It's recommended to keep your download as a 'master' and work with a 'copy' for your exercises.

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Homework Assignment

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Let's measure your progress with this Quiz . . .

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Frequently Asked Questions

How often should I do this exercise?

Every 12 months. Then keep track every month.

Can I forecast my sales by doing this exercise?

Yes. Knowing the value of your customers' orders will give you a base to work from.

Can I use this exercise to control my stock levels?

Yes. Knowing when your customers are likely to order will keep you forewarned.

Where do I find this information?

In your financial results. Using a financial software package like Sage Pastel or Quickbooks makes it a lot easier for you.

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Fran Piggott

Fran Piggott
Instructor

How can I help you?
I look forward to answering
your questions.

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