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Take an e-commerce power-house metric and apply it to brick-and-mortar stores.
Converting Visitors
Knowing your sales numbers of revenue is not enough to accurately determine your stores performance. If your not familiar with conversion rate data, this metric will possibly be your most important, from evaluating your stores performance, to featuring in every employee review, and factoring into your overarching business strategy. Customer conversion rate is a crucial metric in measuring the success of your stores.
How to Track Conversion Rate?
To calculate your conversion, divide the number of transactions by the number of potential shoppers and times by one hundred - Voila! You have have your stores conversion rate. However, if you need a simpler way to attain this metric, place a people counter in your store and connect your point of sales, then watch the data flow. With hourly updates, you will be able to track your stores performance through-out the day.
Conversion
Marketing
Staffing
"Only what gets measured, gets managed."
-Peter Drucker
Conversion Rate Tracking
of retailers know their stores' conversion rates
9%
Marketing & Promotions
"Did our marketing promotion work?"
With so many advertising avenues, which ones are really worth your investment? Spending time and money on promotional campaigns, without having all the correct information to assess your ROI can be frustrating.
Measure your marketing campaigns & promotions by the increase of foot traffic into your store after launch. Analyse the trends to reinforce and justify ad spend!
Utilising footfall data to take the guess work out of marketing and reinforce ad spend.
Zero In On Great Advertisements
Which promotion worked best? Hinging a promotional campaigns success on the uptake of revenue doesn't necessarily provide the full picture.
Monitoring your stores uptake in foot traffic after a promotions launch, could show that one advert did better at driving traffic to your store, but conversions were not as strong. This method identifies the better promotion while potentially shining light on other areas of improvement.
of marketing spend is unjustified.
47%
Using the power of in-store data, we can achieve a better customer-to-staff ratio, improving your stores conversion rates and in turn, overall performance.
Heat Maps
Can we schedule staff to improve customer satisfaction? Yes! Footfall monitoring reveals peaks and lows in visitor foot traffic. People counting also provides data for longer term seasonal trends so stores can plan ahead accordingly. Staffing a store to meet demand, creates a more engaged work force and gives each staff member the ability to provide their best customer service.
Try Dôr's heat maps for a unique insight on how to optimally staff your store. Easily identify areas with the least and most amount of foot traffic to allocate staff.
Optimizing Schedules
When staff schedules are created without referencing customer trends, labour expenses are wasted and conversion suffers. Cutting staff numbers may not solve the problem but create another.
Long term imbalances in staffing can lead to several pitfalls. Over-staffing could lead to staff disengagement, increased overhead and store congestion. Under-staffing can lead to staff turnover, customer dissatisfaction and employee burnout.
Staffing
86%
of the time, retail stores are over or under staffed.
Reduce lost sales and increase profitability by scheduling staff according to predicted foot traffic trends.
Assign higher performing sales reps at peak hours for maximum effectiveness.
Analyse trends to schedule staff according to predicted visitor flow.
Use heat maps for optimized placements of offers and products.
Compare your foot traffic, conversion, revenue, transactions and average transactions volume across any date range.
Use your in-store data and unlock your stores most powerful metric for success, conversion rate.
Define your peak hours and better align your customer-to-staff ratio with heat maps.
Find the promotions that drive the most foot traffic to your store.
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