Written by Tony Loxton
The concept is not complicated, a positive customer experience turns a prospect into a buyer. However, it’s a perplexing reality that many retailers are not measuring the experience customers are having in their stores. Managers should be capitalising on every opportunity, especially when it comes to the customer traffic they have worked so hard to generate. To do this they must go beyond just counting customers as they walk in the door or counting sales at the end of the day. The decision to buy is made after a customer has arrived at your store and before they reach point of sale (or leave without buying). It is what happens in-store that retailers must measure.
Although conversion rate easy to calculate (number of transactions divided by the number of store visitors), the metric gives invaluable insight into whether your prospects have had a positive or negative experience in-store. Did they buy or did they leave without making a purchase? A low conversion rate is a glaring indicator that there are barriers preventing your prospects from having a positive experience, consequently preventing them from making a purchase.
While the calculation of conversion rate may be simple, the hard part is deciphering all the factors that formulate a customer’s decision to purchase. Why did they buy or why did they leave without making a purchase? When you think of all the elements that impact a prospect’s decision to buy (pricing, staff, merchandise, in-store displays, promotions, store layout), it can be overwhelming to pinpoint your barriers to a successful customer experience. This is where Blix steps in.
Our technology uses location analytics to give comprehensive metrics such as dwell times, bounce rates, walk by conversion, customer loyalty and customer movement. The data allows you to have a deeper understanding of your customers and identify where your customer experience issues are. We help you ask the right questions and create a strategy to enhance customer experience in individual stores, or across an entire retail network. By optimising the experience for your customers, you are optimising your conversion rates and in turn, increasing sales.
Get in touch with us today if you’d like to learn more about how Blix can help you optimise your in-store customer experience.