The E-commerce rage has diverted traffic from brick and mortar stores to online stores. It’s a lot easier to shop from home now, and this trend has hurt physical retail stores’ traffic count. To tackle this, retailers focused on new marketing campaigns but didn’t make much of an impact.

But what if there’s another way?

What if retailers realized they don’t have to attract new customers by making the most out of the customers they already have? We help shift the focus from increasing store traffic to improving conversion rates.

What Does Improving Store’s Conversion Rates Mean?

A store’s conversion rate is the percentage of visitors that made purchases compared to the total number of store visitors.

For example, if 200 people came to your store, and only 60 made a purchase, then your conversion rate is 30%. On the other hand, if you get 100 store visitors and 60 of them make a purchase, then you are converting 60% of your visitors. With numbers as clear as day, you don’t have to work on increasing store visitors, just converting the ones you have. It’s a lot easier and profitable to ensure that your current visitors make purchases.

Why is it this easy?

Simple! Your leads are already in the store, all you need to do is convert them to paying customers.

Why is it profitable?

Higher conversion rates mean higher sales figures and bigger and better profits.

Conversion Rates: Measure & Monitor

How do you optimize your conversion rates if you cannot measure and monitor them? Simple, you can’t. To measure your store traffic, you need accurate store traffic data. Knowing the number of people coming to your store every day, week, and month will help in comparing with the number of sales completed in the set timeframe.

With reliable people counting technology, like Datacam, it’s possible to accurately measure the foot traffic at your store’s physical location. Datacam traffic count is measured at 98% accuracy, meaning you will get the right numbers

Comparing sales figure with your visitor data allows you to measure your store’s conversion rates. Now that you have the means to measure them, you can track and find ways to improve them.

Is Sales Data Enough?

Only using sales data is wrong and misleading. Sales numbers tell the story about the purchases made but it doesn’t include the people who left the store without making a purchase.  Whether they left because they couldn’t find what they needed, the service was poor, or if the checkout process was too long.

To optimize your conversion rates, you need to take these into consideration and convert all these people into customers, rather than just visitors. To do that, you need to know why they left in the first place.

How To Optimize Conversion Rates

Now you’re on the bandwagon for measuring and monitoring your conversion rates, to do that you need to know ways to boost customer conversions and reduce the effects of lower store traffic.

Anticipate Store Traffic

When data from Datacam is analyzed, store managers receive reports that outline their peak hours. These hours have the most potential for sales. During these hours you can increase your store’s conversions.

Staff Scheduling

Each store has reps who are more persuasive and work better with customers compared to those who don’t. Datacam provides you with an hourly conversion rate of all the reps; allowing you to identify your top performers. Once identified, you can keep these reps on the floor during peak hours for higher conversions. This way you get to maintain a skeleton crew. When your best performers are busy with the customers, other employees can help with activities such as stocking and inventory.

Better Product Placement

What if you could predict what your customers want, what products or brands they look out for the most? Not only their requirements but how they move through the store? You can couple Datacam with heat map technology to make these predictions possible. The data gathered from the heat map device analyzes how the customers move around, focusing on sections they spend the most time at, and the products they interact with the most. This helps in improving product procurement, and you can adjust your store’s layout based on results. This will not only help you improve your conversion rate but also help create cross-selling opportunities.

Overall

The above practices are likely to increase conversions. With your high performing reps dealing with customers during peak hours, you will minimize the number of visitors that leave without making a purchase.

To learn more about traffic counting and rep level management, visit Datacam.com. ReBiz is a leading provider of data analytics technology. Stores use our technology to optimize their conversion rates and receive up to 98% accuracy in our data. You shouldn’t be compromising on your conversions!