From Staffing to Advertising: Two Metrics to Get it Right
As the owner of a retail operation, you are acutely aware of all things relating to and affecting your business. Right? Take a second to ask yourself the following three questions:
- Is your advertising really working?
- Is your store always staffed as effectively as possible?
- Is your sales team trained and coached to the best of their ability
If you answered “YES!” to any of the above, do you have the data and insights to back yourself up?
Many retail store owners don’t have the right systems in place with the reporting capabilities needed to adequately measure their advertising return on investment (ROI), the success of their sales team, or the effectiveness of their staffing. Without that data, you can’t improve your marketing, make sure every customer gets the attention they deserve, or train your sales staff to sell more effectively.
In order to validate your answers to any of these three questions, you need a complete and accurate understanding of two metrics:
1. Traffic counts: How many people are coming into your store? Do you count the mail man? Do you know what your benchmark traffic count is? Can you effectively measure traffic waves above and below average when a marketing campaign hits the market? What are your store’s traffic patterns throughout the day?
2. Sales analytics: What’s your Revenue per Up (RPU)? Is your sales team maximizing every opportunity (customer who comes through the door)? Are you appropriately staffed so that no customer is left unserved?
A recent white paper we prepared helps you think through how an accurate traffic count, in conjunction with sales analytics, can help you make better business decisions. Get it here now to learn more about how answering these questions and measuring the right performance indicators can help your bottom line.