Coming Full Circle
Thank you for joining us as we’ve gone through the steps of identifying your customers experience, envision the your store transformed, and embrace empathy and observational insights. Now it’s time to take a look at the data and let them drive your next choices.
“It is a capital mistake to theorize before one has data.”
~ Sherlock Holmes, “A Study in Scarlet” (Arthur Conan Doyle).
Here are a few types of reports and ways to think on them. Your ideal solution will likely be as unique as your needs but we can get it started.
Merchandise Analysis Report
We have become a data-driven world. Our shopping has become predicted and our reporting needs to help drive those predictions. From a high-level view of your performance, to analyzing sales vrs returns, to a full in-depth analysis of inventory changes at the retail level: experienced POS systems such as Counterpoint will give you pre-defined reports to get you going.
Customized reporting that includes the units sold, turn rate, or other metrics may also be needed to paint a complete picture of your business. Counterpoint has selected 180 of the most popular measurements to choose from in order to help users create meaningful reports that can be used to see what is being bought when, and how that brings a positive change for the establishment.
You’ve observed your customers in your store. Now it’s time to study their purchasing history. You should include customers in reports based on category, loyalty point balance, or any other criteria to see trends. Were they responsive to your emailed promotions? How did your in-store observations relate to the reporting you’re seeing. If you see a discrepancy, how can you bring that information from your report and into a conversation with your customer to improve their experience?
Spend a lot of time talking to customers face to face. You’d be amazed how many companies don’t listen to their customers.
Sales history reports have been a staple for business and there’s no great secret why. Reviewing your sales by items, customers, stores, dates, categories, and other like data gives you keen insight into what has worked and what efforts could be adjusted moving ahead. Look at details such as basket/transaction size and repeated frequency to better understand how this all works together.
No single report is going to be the end all answer to what your next step will be. Compare the different types of data at your disposal against each other and against your pre-transformation data. What are the highlights, those key take aways that made it clear that your efforts were noticed? Were you surprised by anything? How is your customer's experience evolving as you continue to grow and transform your store? These are all questions to ask when looking at the data.
Coming Full Circle
Now that you’ve made your transformation, progressed through the stages and have analyzed your data it’s time to go back to where you’ve started. This process of learning, adjusting and growing will continue over and over again. The next time through, how will you re-envision your store? What tools will you use to get you there? How will this have a positive impact on your customer's experience?
We hope you’ve found our take on CXMarketing informative and have seen how tool such as Counterpoint can help you succeed. We want to be a partner in your success; request a demo or contact a member of our team and start your stores transformation today.