How to use retail data to enhance business profits: increase conversion ratio, average transaction value and number of items per transaction.
Getting the most out of footfall analytics – bring together diverse groups in the planning stage
Webmasters are superstars at analysing visitor data. What can retailers learn from their approach? One metric that stores are stealing from websites is Visitor Value. This is the average spend of each visitor that enters a store (or website). If you can increase your visitor value then sales follow. On a website this might be achieved … Continue reading The secret of visitor value: why high street stores are using the same metrics as web sites
Do your shop window displays attract customers? Are you sure? Video recognition technology tells you exactly how many people looked at the shop window, for how long and what percentage of them actually entered the shop. People can be tracked around the store and you can see if browsers turned into customers.
Video systems give over 98% accurate measurements of customer engagement and response, so retailers can improve displays and test exactly what converts browsers into buyers. Importantly, managers are also very quickly informed when shop window displays are failing to attract customers.
The collection of accurate data is essential in measuring marketing effectiveness. By thoroughly analysing data, marketers can improve the success of their efforts and make better business decisions. Popular metrics include tracking visitors, sales and customer conversions. What do visitor analytics tell the marketing department? Combining people counts with sales transactions shows the customer conversion … Continue reading Measuring Marketing Effectiveness