How a retail store can benefit from a WIFI enabled Foot Counting solution
Teri-Leigh Peach
Dynamic senior level marketing consultant helping businesses grow their brand, stand out against their competition and develop robust strategies that bring new sales to their business.
Successful sales are dependent on three key drivers;
- Traffic - The number of opportunities you have to sell something to someone,
- Conversion % - The percentage of traffic converted into a sale. The opposite being the % of lost sales opportunities,
- Average Sales Value.
As an example: if you have traffic into your store of 2000 people a month and convert 20% of the traffic into a sale, at an average sales value of R950, your Total Sales for the month will be R380 000.
Measuring traffic and the success of different strategies for increasing traffic is easily obtained for an online retailer. However, for a bricks and mortar store it is not as simple!
Without being able to measure the amount of traffic into your store, it is very difficult to know:
· How effective your marketing campaigns are in attracting traffic to your store,
· How successfully your store is converting traffic into Sales, which is affected by operational issues such as:
o Customer Service,
o The quality and availability of your product,
o The way you merchandise your product,
o The price of your product.
With advancements in technology, today's people counters are not only a lot more accurate in counting traffic into your store, they also offer additional benefits of being able to monitor additional measures using Wi-Fi detection, such as:
· The amount of traffic passing your store and therefore what percentage turns into your store – often affected by factors such as you your window display,
· The amount of time a customer spends in your store,
· The percentage of new clients that walk into your store,
· Per Hour traffic and conversion percentages.
With the level of competition amongst Retailers today, it makes sense to be able to quickly and easily access meaningful information that can help you make better decisions and take appropriate action toward achieving your desired outcomes.
Summit Solutions - People Counting Solutions
www.summitsolutionspeoplecounting.co.za