For companies that have both physical stores as well as online sales, one of the essential reports that you should be familiar with is the Sales by Billing Location Report. This report is a valuable source of information that can help you target your advertising efforts, measure the impact of your physical stores, and identify potential locations for future retail stores. In this article, we'll take a closer look at what the Sales by Billing Location Report covers and the different types of metrics that it includes.
The Sales by Billing Location Report presents the revenue generated from online orders in different regions. This report is typically broken down into different regions, such as cities, states, or countries, and can be filtered to show online sales for a specific time frame. For example, you can pull a report for the last quarter and see which regions had the highest sales and which regions had the lowest sales. This information can be used to target your advertising efforts and allocate your marketing budget to the areas that are showing the most promise.
Another benefit of the Sales by Billing Location Report is that it can help you measure the impact of your physical stores on online sales. When you open a physical store, it can have a halo effect on online sales in the surrounding area. This is because consumers may visit the store to see the products in person before making a purchase online. The Sales by Billing Location Report can help you quantify this effect and determine the regions that are benefiting the most from your physical stores.
If you don't have a physical store in a given area, the Sales by Billing Location Report can be used to identify potential locations for a future retail store. For example, if you notice that a particular region has high online sales but no physical store, it may be worth considering opening a store in that area to tap into that market.
When it comes to metrics, the Sales by Billing Location Report should include a variety of data points that provide insights into your online sales in different regions. Some of the metrics that you should look for include:
Total revenue by region: Total revenue by region is the most critical metric and provides an overview of the regions that are generating the most revenue.
Number of orders by region: The number of orders by region and the number of unique customers by region provide insights into the demand for your products in different areas.
Average order value by region: Average order value by region can help you identify regions where customers are spending more money per order.
Number of unique customers by region: The number of unique customers by region can identify where you have a strong following and also where it may make sense to open a physical store if you don't already have one.
Conversion rate by region: Conversion rate by region can help you see which regions are performing well and which regions need improvement.
The Sales by Billing Location Report is a versatile and valuable report that can help you target your advertising efforts, measure the impact of your physical stores, and identify potential locations for future retail stores. By keeping an eye on the different metrics that are included in the report, you can gain insights into your online sales in different regions and make data-driven decisions that drive growth and profitability. As a CMO, CEO, VP of Marketing, or VP of Sales, it's important to familiarize yourself with this report and use it regularly to stay ahead of the competition.
