So many retailers out there still refuse to understand why footfall data is so critical. They are too focused on other misleading KPIs to see the impact footfall and conversion data variables can make on their turnover. So what is it that Footfall Data Collection will show you as a retailer?
So maybe you don't even know about this remarkable opportunity to gather valuable information?
Every day, some customers enter a store intending to purchase a particular item but never do. The retailers won't be able to track them at all with their store's revenue metrics. Retailers are spending loads of money on all the marketing and tools for getting customers through the door—still neglect to figure out why they are leaving without buying.
Footfall data collection and Conversion rate tracking are critical in recognizing and knowing how many of these people are untapped potential.
Get a good picture of how many people come through your doors by collecting footfall data. Do not rely on inaccurate solutions like sales or security staff with a manual clicker.
While this solution does provide some data, it is flawed. Manual clicks may not track the correct number of people who enter the store when someone is distracted, or a store is active. Using an infrared counter provides more accuracy.
Calculating your conversion rate is the next step in determining how many prospects you might be missing.
Calculate the conversion rate by dividing the total number of unique transactions by the total number of unique visitors for any given timespan.
Assume your store receives 500 visitors per day, but only 50 of those visitors make a purchase, which gives you a 10% conversion rate. So why aren't the other 90% buying? Only collecting reliable traffic information and comparing it with the number of specific sales on your system will make you instantly aware of any missed opportunities.
Conversion rate tracking allows retailers to increase conversion by increasing the number of floor workers and offering sales training. This will determine if their activities have a positive effect on your conversion.
Retailers must also be mindful that conversion rates vary depending on their customer base, the day of the week, and time of day. For example, a mass-market clothing store is most likely to see higher traffic and conversion rates on weekends.
Specialized retail stores clients are wealthier and have more control over their schedules, so they are more likely to have steady traffic and conversion rates.
For any retailer looking to expand their overall market, it's evident that making decisions based on what you sell is the least successful way to do so. Making the most of footfall and Conversion rate tracking are the first steps toward genuinely productive development.
We're a consulting and technology company that partners with customer-focused industries. We aim to complement and improve customer experience by developing or implementing various hardware and software technology solutions. That elevates a data-driven approach to business management and customer engagement, ultimately forging the roadmap to success.
Our footfall counting sensors are mounted above your entrances, and require no integration with in-store network or IT infrastructure. Sensors are wireless and upload data using a GSM Data Collection Server, located within 30m of the sensor(s). The infrared technology and advanced algorithms provide detailed activity counts of your foot traffic, while you focus on what really matters in your stores: your customers.
If you are keen to learn how we can help you succeed, mail us firstname.lastname@example.org or call us +27872374783.