Free comprehensive online market measuring tool designed for motor factors. Factor-Sales aggregates data from a pool of motor factors to allow them to compare their business performance with a national representation of the industry.
What is Factor-Sales?
Factor-Sales is an online service that allows motor factors to compare their performance with that of a national pool. Businesses can compare their performance against the national market and by branch. The service allows motor factors to drill down into the data to identify sales trends for parts.
The system is designed so that motor factors can capitalise on their strengths and rectify any weaknesses. By drilling down into sales trends for parts and categories, you can maximise your profits and amend your stock levels. You can find average part prices to see where you could be charging too much or too little. This means you can make informed choices to help you increase your profit margins, and in turn offer the best possible service to your customers.
How is it delivered?
Factor-Sales is a free online service available to motor factors in return for their consent to add their data to the national pool. Strict confidentiality is guaranteed – only you will have access to your specific information. In return for your data, we’ll send you monthly reports to your given email address containing vital information on the automotive aftermarket and give you access to the database for category and part analyses. Access to Factor-Sales couldn’t be easier as there is no on-site installation involved in the setup. We will collect your data by setting up an automatic report as part of the dayend, so you don’t need to do anything except sign the form.
Who is it for?
Motor factors, parts distributors and retailers.
What are the benefits to your business?
- Maximise profit margins
- Enhance customer service
- Invaluable insight on the aftermarket
- Compare performance
What does Factor-Sales offer?
My data vs national data
Factor-Sales allows you to compare your performance with the national pool. This gives you the opportunity to identify where your growth/decline compares with that of the aggregated national average (of other signed-up motor factors). Being able to clearly see where your business is falling short can help you identify where improvements could be made.
The price tracker function of Factor-Sales allows you to input manufacturer’s part numbers to compare average prices across the marketplace. This means you can quickly identify whether you are charging too much, or too little, for specific parts. This function will also show you growth and decline rates for these individual parts so you can spot patterns in sales – helping you to plan ahead accordingly whilst ordering stock.
National category performance
You can use this tool to drill down into specific categories. For example, you could see how your sales for oil filters compares with the national pool. Without this information, you may be left wondering why your oil filter sales are down on last year, when in fact on average oil filter sales have fallen. You may use this information to create a new marketing campaign in order to generate more sales, or you may use these insights to adjust your stock levels for this sector.
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- For further information and to sign up please click here