Maximize Conversion Rate!

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Conversion rate = number of customers / number of people who have entered the store. If 100% in conversion rate, then it is sold to all the customers who have entered the store.
Why spend time reading on?
– Because you can increase earnings!
How can you increase your earnings?
– Increasing your sales efficiency
Focus on 3 areas
  1. Measure the customer flow in your physical store
  2. Calculate conversion rate
  3. Investigate what increases conversion rate
Most stores are subject to one formula for success: Succes = (P1*P2*P3*P4*P5*P6)L

P’s stand for

  • P1: Placement (eller location)
  • P2: Product (quality, packaging, shop placement, etc.)
  • P3: Price
  • P4: Profile of store (or shop outlook)
  • P5: Promotion (or marketing)
  • P6: Personel (or staff)

L stand for

  • Leadership.

The combination of the above Ps and L gives the store’s current conversion rate. Where to change to increase conversion?

KundestrømBy measuring the store’s success (conversion rate), a direct and concrete expression of the current degree of success is achieved. Subsequently, work can be done systematically and purposefully on adjusting the Ps and L, and immediately read the result in the form of changes in the conversion rate.

With a focused and persistent work on the above 3 areas, the store will be well-equipped in times of recession, as well as ups and downs! Contact us for further information on installing our GSM people counter