How to increase sales performance in physical footprints, the data recipe to finding the problem.

The data points needed to identify the missed opportunities in a store’s purchase funnel are: 

• Passer bys : the number of people walking past/ outside the store entrance
• The entries/ traffic/ footfall:  which is the total number of customers that actually enter the store.
• The capture rate: the rate between passer-bys and entries
• Conversion rate: the likelihood that a customer entering the store will then make a purchase at the end of that shopping journey.
• ATV or Average transaction value: that's happening at the till
• Total sales Volume for a specific period of time

Let’s look at a couple of data scenarios familiar to many retailers in the beginning of the purchase funnel, to help you map out what data combinations emulate direct actions to take and by which team.

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#1 If there is a significant increase in passer-by traffic but a decrease in the capture rate

• This means that we have missed opportunities in increasing traffic rate through marketing, compliance  or window displays .

*If this trend continues over multiple weeks, the visual merchandising team needs to take action and improve window displays or ensure they are compliant. Passer-by traffic and the capture rate are the best data points to track when A/B testing store displays. 

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#2 If the entries rate have decreased and conversion rates have increased over a period of time in a store 

*It means that the store is doing a better job of converting traffic that was entering the store into successful purchases. When it’s the opposite - increased entry rate and decreased conversion rate- then it’s an indication to re-evaluate store staffing rotas to fit with customer demands per day so they are present to drive in-store conversion.

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The Aura vision dashboard provides this information to allow you to ensure the staff rotas are well aligned with the trends of customer demands per location and compare store performance across multiple locations. . 

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#3. If the entry rate is low for specific days of the week, 

This means that there is a need for the sales and marketing teams to include deals or promotions in those specific days and drive traffic to the store. 

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The key takeaway ? Your teams can make a big impact on revenue by looking at these key strategic data points and understanding the store customer funnel. Rather than have marketing only focus on the top of the funnel and then pass leads to the sales team, enable them to make decisions and develop a strategic vision with sales based on the key marketing metric: revenue growth.

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Get a free consultation with an analytics expert here . 

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