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CustomerConversion

 
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Customer Conversion

The old way of measuring conversion was by calculating the percentage of visitors who actually made a purchase. Today, the customer conversion model has evolved into something much more sophisticated.

BehaviorWorx helps you convert sales from three customer groups: your primary shopper, those shopping with them and their circle of influence. Small adjustments to your marketing inputs and operational process can increase customer conversion. Just a tiny increase can represent millions in new revenue – annually.

This new paradigm led to our four customer conversion strategies:

1. More Buying Customers:
They already visit the store and many even consider buying from you. Increase conversion by breaking down the barriers to making a purchase.

2. Sales From Other Business Units:
Influence your customers to visit and buy from your other departments or brands during their visit.

3. Secondary Shoppers:
Influence those who accompany your primary shoppers.

4. Circle of Influence:
Influence customers to invite their circle of friends to your brand.

Here are two examples of how you can influence customer conversion:

Apparel Retailer:

A shopper tries on a pair of jeans.

They don’t fit. She nearly abandons her purchase but an employee comes over to get the right size, resulting in a sale.

She asks her friend for fashion advice.
Her friend loves how the jeans look and she decides to buy a pair for herself.

They tell 5 friends about their purchases.
The store’s “BFF Event” persuades 2 of the 5 friends to visit the store and make a purchase.

Restaurant (Full Serve):

3 co-workers enjoy drinks after work.

Their server points out and recommends the appetizer ordered by the table next to them, resulting in a sale.

1 co-worker persuades another to buy.
She orders one dessert and asks her friend to buy another so they can share.

They tell the office about the experience.
The restaurant’s “After-Work Event” persuades 4 new co-workers to drink and dine at the restaurant.

 

Outdated conversion models led some industries – such as packaged goods, restaurant, grocery and general merchandise – to believe they had a conversion rate of nearly 100%. For packaged goods and restaurants, buying decisions are often made before the shopper walks through the doors. So the question becomes, why did some people consider your brand but buy from your competitors?

Grocery and general merchandise retailers face another challenge – influencing customers to purchase from other business units within the store (such as the deli, the drycleaner or the floral department).

More About Customer Conversion

•  Knowledge Base: How your customers decide to buy. View
•  Case Study: Retailer adds $480 per store, per day by increasing conversion. View

 

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