A small increase in sales conversion rate has a much greater impact on sales, even when no other factors are changed.
If you could increase your conversion by just 1 percentage point, to 31%, how would the figures look then?
In our example, with all other things remaining equal, an increase in sales conversion of 1 percentage point gives a 3.3% increase in sales.
Sales conversion is one of the most useful metrics available. It is easily measured simply by connecting the people counts to the point-of-sale system.
Is a 1% increase in sales conversion realistic? It’s actually a very low figure. We have helped a European retail chain improve sales conversion by 25% in just three months, and a Middle Eastern chain of pharmaceutical stores improve sales conversion by 15% in seven months.
Some stores even track their conversion rates in real-time, so dips can be immediately flagged up and dealt with.
The effectiveness of all of these can be measured. Small improvements lead to big financial gains.
Keep measuring, keep testing, keep improving. Learn more: email sales@retailsensing.com or call +44 (0)161 839 6437.
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