You may be familiar with using the Customer Leaderboard to find out how your customers are performing, and making that comparison to how that performance has changed year on year. Another great way to find insights & opportunities is to take a look at the Product Leaderboard and use the Customer Comparison tool.
The Customer Comparison tool enables you to view a specific product and deep dive into the differences in quantity, price and gross profit* (*where applicable) for this product.
Let's take a look at how we can access this powerful tool:
STEP 1: Head to your scorecards view and select the target period you want to look at. Once you are in the leaderboard view, change the leaderboard to product.
Now we have a list of all products under your portfolio and the total sales for each for the period. Select a product you want to look at further, perhaps one of your largest selling products which has many different customers.
STEP 2: Click on the product and from the drilldown option select CUSTOMERS.
This will now show you a list of customers who purchase this product, ranked on the leaderboard from highest to lowest in terms of revenue.
Now that we're in this customer comparison for the product, we can take a look at some interesting metrics from the metrics dropdown.
STEP 3: Click the ▼ REVENUE dropdown to change your metric from revenue to Average Unit Price.
Now you have a price list for each customer! Numerik will remember your last sort order so the leaderboard is still sorted by revenue. If you wanted to sort from highest price to lowest, click the Highest sort button:
What we can also look at in the customer comparison:
It's important to understand how price, quantity and gross profit relate to give your overall performance for this product across all your customers.
By clicking on the additional dropdown on the metrics you'll see a number of different options appear:
Average Price Swing
The average price swing will show you the increase or decrease in price that the customer has paid for this product compared to last year. You can see both the actual dollar amount as well as the % change.
Quantity and Quantity Swing
This will give you the number of units that have been purchased this period, and the quantity swing will show you whether they've purchased more or less units compared to the same period last year.
Gross Profit (if applicable)
You can see the gross profit for each customer, both as a dollar figure and as a % of revenue. You can then compare the gross profit to the same period last year by selecting GP % swing or GP $ swing.
Are there any customers who are paying less for this product than the rest? Is there a valid reason for this or should I be looking to increase this price in order to generate a higher gross profit return?
For customer's paying a high price, could this be impacting the number of units they are purchasing? Should I look at reducing the price in order to try and increase the number of units being purchased?
Using quantity swing, are there any customers who have had a big drop off in number of units they have purchased which are of concern?
Now that you've learnt how to deep dive into a product, rinse and repeat with some of your other key products. Where you find insights, note these against the customer as something you'd like to follow up or keep an eye on!