Many large retailers have no reasonable, solid criterion to make comparisons. The sales of a store are their only key parameter for comparison. If you own a store and are going to make a strategic decision to change sales, you need to adopt a different perspective.
The sales records are good information; however, to make strategic decisions, you need to know what fraction of customers who visited your store made purchases; that is, calculate the conversion rate.

What knowledge do your compatitors have about which you don’t know?

Therefore, the people counter may seem unnecessary at first sight, but you need to monitor and control your inbound traffic so you can make management decisions. You can solve a problem only when you can root it. The WaveCount enables you to:

  • know what percent of those who visited your shop made a purchase,
  • properly measure the effectiveness of your advertising activities,
  • find the most affordable way to deploy employees, optimize your staff, and offer better services to customers, and
  • have an efficient perspective of your short- and long-term plans based on the data that you have obtained.

Technology and smartization are expanding in all areas. Therefore, you need to use them to grow and increase your competitiveness. Those who believe in the people counting service and exploit it to define KPIs and modify their business areas are more successful.
To obtain a proper insight into sales strategies and root and handle challenges, let’s discuss four important advantages of the WaveCount in detail.

The conversion rate refers to the ratio of the total sales to the number of visitors, which is generally expressed as a percentage. It can’t be obtained without accurate data on inbound traffic.
Many of those who hear about the WaveCount may say “all we care about is the number of sales, and we don’t care about the data of people who visited our shop and bought nothing.” Do you wish to make your business grow? Then, you should know that sales data alone can’t help you grow. You can improve your business only when you increase the fraction of visitors who make purchases since the number of customers is different on different days or in different weeks, months, and even years.

Conversion rate

Nowadays, many chain stores implement advertising activities to attract customers. However, there is no reasonable criterion to monitor such activities. Some people hold that “advertising can’t be monitored” or “sales are the only proper criterion.” Advertising activities are often said to be effective when sales are more than expected.
However, advertising does not directly affect sales; they just actually encourage customers to make a visit. It’s increased inbound traffic that increases your sales; therefore, the effectiveness of an advertising activity is calculated based on the conversion rate.
For example, a marketing scheme may be efficient in increasing inbound traffic but fail to change the conversion rate. Such a scheme is not effective in raising sales. In other words, an effective advertising activity is one that encourages a larger fraction of visitors to make a purchase. Here, the inbound traffic data are a key parameter.
Advertising is assumed to be the main way to direct customers toward shops. Therefore, managers who invest in advertising but fail to measure inbound traffic data make costly strategic decisions without being able to effectively measure them.

Reasonable monitoring of advertising activities

Effective employee management to meet demands

Labor accounts for the largest portion of the total cost for most of the large shops. As a result, it is essential to manage labor. The reduction of employees will not increase profit; it may even reduce it. To effectively deploy employees, managers need to have a deep insight into the relationship between the number of employees and the conversion rate; that is, they need to know when on a day and on what days of the week employees should be increased or decreased. Inbound traffic data not only indicates the optimal number of employees but also is an effective criterion to give rewards to employees in exchange for their service. This assessment approach increases the motivation of employees to engage in more effective interactions with customers.

Foresight in decisions

Managers always have to choose; a successful manager is one who can make the right choice. To do so, you need to use a reasonable and measurable criterion for qualitative parameters. Data can be compared when they are qualitative. Therefore, you can make a better plan for the future when you have a quantitative history of an event. The wisest way to quantify events is to use the WaveCount.

WaveCount provides the accurate number of people entering your business space and gets a deep understanding on customer traffic and visitors activities.

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