Year-Over-Year Reports Help You Navigate

YOY Reports

Year-Over-Year (YOY) reports are valuable tools that help you evaluate performance, identify trends, and make informed decisions. These reports analyze data from one year to the next, offering important insights and the trajectory of your company. In an ever-changing market, these reports will empower you to set your business up for success. 

Evaluate Performance 

Through data analyses, you can see how each campaign performed and what your overall success looks like. However, it’s also important to compare this year’s performance to last year as well as previous years. How well are you doing? Are you on pace to match or outperform last year? Are you trending downward? Evaluating your performance will let you know whether or not you need to adjust your strategy.  

Ask Questions 

When you notice a change in your results, it’s important to identify the cause. Ask questions, so you can either replicate the results or course correct. Some questions you might want to ask are: Has your customer base changed? Are you offering different products? Did your marketing content change? Are you using different channels to communicate? Is your brand and messaging still relevant in today’s culture? What’s going on in the industry or world that could be impacting people’s buying decisions? 

Keep Records 

Sometimes, the impact of a change takes a while to manifest, so note any adjustments made along the way. Be sure to also include why you made the change and when you made it. When you start noticing major fluctuations in results, you can check your records to identify the source and see if that change has made a positive impact. 

Standardize Measurements 

If you haven’t tracked Year-Over-Year results before, seriously consider what you want to track and why. What information would be helpful in making more strategic decisions? What matters to your company and are you able to capture that data? In order for the reports to be meaningful, you will need to track the same information every year.  

Identify Trends 

When you look at your YOY reports, what do you see? Do you have seasons of high growth? Are there market trends that impact your sales such as the release of a new technology product? Do you notice a cyclical pattern that influences your performance? By identifying consumer buyer trends, you can tailor your strategies accordingly.  

When you have the information you need, you can plan out your marketing campaigns to align with the buying trends and stock your shelves to meet the demand. Understanding your trends can help you capitalize on growth opportunities and expand your market.  

Company Trajectory 

Year-Over-Year reports help you see the big picture and know what your business trajectory is. You might have a great or terrible campaign, but that one incident does not mean your company is rapidly growing or falling apart. Making big changes based on one marketing campaign is unwise. YOY allows you to keep your eye on things and see if they are really trending up or down. These reports equip you to make data driven decisions with confidence, so you can help your company succeed. 

Next Steps 

Life is always changing, and you need to know how to adapt to the new landscape. Year-Over-Year reports will help you navigate today’s complex marketplace with confidence and agility. If you want to learn more about how our team can help you analyze your data, give us a call.