So, we have found out that conversion performs. The functions of an analytical indicator reflecting the ratio of the number of real buyers to visitors to the outlet. Having the results of calculations in dynamics, you will be able to build a graph and evaluate the impact of marketing activities and change of suppliers on the sales level.
Sales conversion is essentially an indispensable foundation for a growth strategy and has several practical application scenarios. This indicator allows you to:
1. Identify the “weak points” in the sales organization system
How? For example, using a website. You can track France Phone Number List which page customers leave (often this happens at the checkout stage). There can be many reasons: an inconvenient order form, the need to enter a lot of information and its incorrect display, the lack of an optimal payment or delivery option, etc. It is important to promptly correct the identified shortcomings and evaluate the sales conversion again.
As for a real retail store there may be some difficulties
It is not so easy to understand why visitors leave: did they not like the quality of the goods, were not satisfied with the prices, or perhaps the consultant did not pay enough attention? To identify “weak spots”, review the recordings from CCTV cameras, experiment with the arrangement of goods on the shelves and price tags, make changes to advertising activities.
After some time (it could be a week, a month), calculate Cell Phone Number Database the coefficient again. If you see an increase in the number of buyers, then you can consider your experiments successful, if a decrease, then, on the contrary, unsuccessful. When evaluating the results, take into account those factors that could distort the results of the work or affect the indicator.
It is worth noting that an increase in conversion indicates an increase in the company’s profits.
Calculating conversion will help an entrepreneur determine Bulk Database the amount of expenses necessary to attract the required number of customers. Let’s consider the following example. The goal of the company’s manager is to sell a thousand units of equipment per month. The company spends 15 thousand rubles per month on advertising. Conversion for the previous month is 48.8%, namely.
