Sales Conversion Tracker

Jay Jones

Jay Jones

The REBIZ Sales Conversion Tracker provides you with the most accurate sales conversion data available. Get detailed insights into sales conversions rates at the store and sales associate level made more accurate with our True Traffic buyer identification and people counting system.

How the system calculates sales conversion

To get to accurate sales conversion rates you must isolate the number of sales opportunities in a given period and compare that to closed deals in that same period (Number of Sales / Number of opportunities) *100. The REBIZ system uses state of the art video monitoring and traffic counting technology to identify sales opportunities and then compare them to closed sales from your POS system.

Powered by True Traffic™

The REBIZ Platform uses a proprietary process called True Traffic Counting to achieve the most accurate sales conversion reporting available. True Traffic provides the count of potential buying patrons and eliminates non-buyer traffic that can skew traffic counting and conversion data. Combining video technology and auditing, the system filters out employees, delivery drivers and other visitors that are not potential buyers. The system can even determine which member of a group is the actual potential buyer, filtering out the others in the group for the opportunity count.

How True Traffic™ works

Our platform uses state of the art technology and automation to organize video clips with point of sale data so that our human auditors can review the information and determine if an interaction in your stores is an actual sales opportunity.

Why is it important?
  • individual sales rep performances vary substantially over time and between reps
  • store level traffic counts provide no information about the sales interactions or conversion rates of individual employees
  • without this, coaching, staffing and performance improvements are difficult and not informed by data

Tracking sales conversion rates is essential for optimizing operations, enhancing customer experience, and making informed business decisions. It allows retailers to adapt to changing market conditions and ensure their stores remain competitive and profitable.

  1. Performance Measurement: Conversion rates provide a clear metric to assess the effectiveness of a store’s sales and marketing efforts. It helps measure how well the store is at turning foot traffic into paying customers. This information is essential for evaluating the store’s overall performance.
  2. Return on Investment (ROI): By tracking conversion rates, retailers can determine the return on investment for various marketing and promotional activities. This helps in allocating resources and budget more effectively to strategies that yield the best results.
  3. Customer Experience Improvement: Monitoring conversion rates allows retailers to identify and address issues in the shopping experience. If the conversion rate is low, it may indicate that customers are not finding what they need, are experiencing long wait times, or are dissatisfied with the service. This data can help improve store layout, staffing, and customer service.
  4. Inventory Management: A low conversion rate can also be a sign of inventory problems. Retailers can identify slow-moving or unpopular products and adjust their inventory accordingly, reducing holding costs and preventing overstock situations.
  5. Pricing Strategies: Tracking conversion rates helps retailers understand how pricing strategies affect customer behavior. It can provide insights into whether discounts or promotions are effective in driving sales or if price points need adjustment.
  6. Targeted Marketing: Conversion rate data allows retailers to better target their marketing efforts. By knowing which products or categories are popular, they can tailor their advertising and promotions to attract the right customer segments.
  7. Staffing and Training: Retailers can use conversion rate data to optimize staff schedules and training programs. When conversion rates are low, it may indicate a need for better-trained sales associates or more efficient staffing levels during peak shopping hours.
  8. Competitive Analysis: Comparing conversion rates with competitors can offer valuable insights. If a store’s conversion rate is significantly lower than others in the same industry, it may indicate a need to study and adopt successful practices from competitors.
  9. Long-Term Planning: Conversion rate data can be part of a store’s long-term planning and strategy. It helps in making informed decisions about expansion, renovation, and new store locations based on the historical performance of existing stores.
  10. Customer Insights: Analyzing conversion rates can reveal patterns in customer behavior and preferences, helping retailers understand what products or services are in demand. This information can guide product selection and merchandising.
What can you do with this information? Benefits
  • • clarifies the number of actual selling opportunities for each sales rep
  • • provides the sales conversion % for each rep for any period
  • • enables comparison, coaching, training, and improvement of conversion rates
  • • establishes a basis of truth for individual performance levels
  • • Improved coaching and training programs
  • • Faster more informed actions by management (to address things like under-performance, staffing, and scheduling)
  • • Increased personal awareness for each sales rep of their conversion rates and performance level
Report Deliverables Features
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Jay Jones

COMMENTS

3 responses

  1. Anonymous

    Report deliverables
    ReBiz sales suite tracks, analyzes and reports on key performance data through the ReBiz portal. Clients receive 24/7 access to their data as well as a host of helpful ongoing reports like:
    – The Weekly Conversion Summary
    – Week over Week Traffic & Conversions
    – Year over Year Traffic & Conversions
    – Conversion Comparison Reports

    Reply
  2. Anonymous

    As a retailer tracking individual sales conversion rates, you will be able to:

    – review the number of actual selling opportunities for each sales rep
    – review and compare the sales conversion % for each rep for any period
    – focus your attention on coaching, training, and improvement with the right reps
    – better navigate conversations on individual performance levels with a basis of truth
    – study high-performer practices and provide improved coaching and training programs
    – take faster, more informed actions as a manager (to address things like under-performance, staffing, and scheduling)
    – foster higher accountability and increased personal awareness of performance levels for each sales rep

    Reply
  3. Anonymous

    (How conversions are calculated)
    To get to accurate rep-level sales conversion rates, retailers must verify the number of sales opportunities in a given period handled by each sales rep and compare that to their closed deals in that same period. ReBiz uses state of the art video monitoring and traffic counting technology to verify sales opportunities, assign them to the appropriate sales reps, and then calculate daily conversion rates with data from the POS system.

    (True Traffic)
    … The system can even count buying groups where multiple visitors are part of a single sales opportunity.

    Reply

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