Messaging & Positioning
Rebiz Platform
Description
- Rebiz Platform Description
The Rebiz retail insights platform provides multi-site retailers with real-time business insights so that they can track sales performance and take actions to improve profitability.
The ReBiz Platform leverages location video, POS data, and advanced traffic counting to provide you with the accurate insights needed to improve sales, operations and profitability.
The platform concentrates in 2 areas to help improve profitability:
- 1. Sales Improvement – Sales conversions and sales process monitoring
- 2. Operational compliance – Store monitoring and compliance checks
Value Proposition
- Value Proposition
The value of the REBIZ platform is:
Our value is in our focus on sales improvement. Ou main focus is on giving you visibility into sales conversions and selling process so that you get a complete picture of how your sales operation is performing. From tracking the most accurate sales conversions information to monitoring sales process compliance, our system is designed to help you improve profits.
Platform doesn’t do these things or doesn’t position them as highest value:
- • Surveillance and safety
- • Theft and fraud prevention
Why this is important
What is a value proposition?
A value proposition is a concise and compelling statement that communicates the unique value and benefits a product or service offers to its target customers. In the context of positioning a product, the value proposition is a crucial element that defines how a product stands out in the market and addresses the specific needs or pain points of its intended audience. It encapsulates the reasons why customers should choose a particular product over alternatives, emphasizing the distinctive attributes, features, or advantages that set it apart. Effectively crafted value propositions resonate with the target market, clearly articulating how the product solves a problem, fulfills a desire, or delivers superior value compared to competitors. A well-defined value proposition not only helps establish a product’s position in the market but also serves as a foundation for marketing strategies, messaging, and overall brand identity, contributing to a compelling and differentiated market presence.
Why is clearly stating a value proposition important?
Clearly stating a value proposition in relation to positioning a product is crucial for several reasons, as it serves as a foundational element in a company’s overall marketing and business strategy:
- Differentiation:
- A strong value proposition helps differentiate a product from competitors in the market. By clearly articulating what makes the product unique or superior, a company can stand out in the minds of consumers and create a distinct market position.
- Customer Understanding:
- Clearly stating a value proposition requires a deep understanding of customer needs, pain points, and desires. This understanding is invaluable for tailoring the product and its messaging to meet the specific requirements of the target audience.
- Communicating Benefits:
- A well-crafted value proposition communicates the key benefits and advantages of a product succinctly. This is essential for ensuring that potential customers quickly grasp why they should choose the product and how it addresses their needs or solves their problems.
- Guiding Marketing Efforts:
- The value proposition serves as a guiding principle for marketing and communication strategies. It influences the development of marketing messages, content, and campaigns, ensuring consistency in how the product is presented to the target market.
- Strategic Decision-Making:
- A clear value proposition informs strategic decision-making within the company. It helps align product development, pricing, and distribution strategies with the overall positioning of the product in the market.
- Customer Acquisition and Retention:
- An effective value proposition aids in customer acquisition by attracting those who resonate with the product’s unique value. Additionally, it contributes to customer retention by reinforcing the reasons customers initially chose the product, fostering loyalty.
- Market Expansion:
- As a company evolves, a strong value proposition can facilitate market expansion. Whether entering new segments or introducing complementary products, a well-defined value proposition provides a consistent foundation for growth.
- Brand Identity:
- The value proposition contributes significantly to shaping the brand identity. It helps establish a positive and memorable perception of the product in the minds of consumers, contributing to long-term brand equity.
- Competitive Advantage:
- A compelling value proposition provides a sustainable competitive advantage. It creates barriers for competitors by clearly demonstrating why the product is the preferred choice for the target audience.
- Measuring Success:
- A well-defined value proposition provides a basis for measuring the success of marketing efforts. Key performance indicators (KPIs) can be aligned with the promises made in the value proposition to evaluate the effectiveness of strategies and campaigns.
In summary, a clearly stated value proposition is instrumental in creating a strong market position, fostering customer connections, guiding strategic decisions, and ultimately driving the success and sustainability of a company in a competitive marketplace.
Differentiators
- Differentiators
While others in the market offer directional data at the store level about retail sales performance, ReBiz offers verified, accurate data at the employee level for key metrics like sales conversion rates.
While others in the market can’t tell you why a store or a rep’s sales are lower than others, Rebiz tracks, monitors, and reports on key factors.
Other retail analytics providers don’t help retail owners and managers know what’s going on when they are not present. ReBiz monitors every store every day to ensure that your expectations are met.Our differentiators are in 2 areas:
- • We concentrate on helping you improve sales above all else
- • We have the most accurate sales insights (conversion rates) available
Competitive Positioning
- Competitive Positioning
Against people counters: While traditional people counters strive to identify the count of people who enter/exit a store, ReBiz is capable of counting the actual buyer traffic and then takes it much further to assigning the traffic to sales associates, calculating sales conversion rates, tracking sales performance, and monitoring store operations daily for a wholistic picture of performance.
Things to consider
Conducting a comprehensive competitor analysis is crucial for a business to understand its competitive landscape and make informed strategic decisions. Here’s a list of things a business should consider when performing a competitor analysis:
- Identify Competitors:
- Clearly identify who the direct and indirect competitors are in the market.
- Consider both traditional competitors and potential disruptors.
- Competitor Products and Services:
- Understand the range of products and services offered by competitors.
- Identify any unique features or value propositions that set them apart.
- Pricing Strategy:
- Analyze the pricing structures of competitors.
- Determine whether competitors position themselves as premium, value-oriented, or somewhere in between.
- Market Share:
- Evaluate the market share held by each competitor.
- Understand the dynamics of market concentration and potential shifts.
- Distribution Channels:
- Examine the channels through which competitors distribute their products or services.
- Assess the accessibility and reach of these channels.
- Target Customer Segments:
- Identify the specific customer segments that competitors are targeting.
- Assess whether there are underserved or overlooked segments.
- Strengths and Weaknesses:
- Analyze the strengths and weaknesses of each competitor.
- Consider factors such as brand reputation, financial stability, technological capabilities, and market presence.
- Differentiation Strategies:
- Understand how competitors differentiate themselves in the market.
- Identify unique selling points and value propositions.
- Marketing and Positioning:
- Evaluate the marketing strategies and positioning of competitors.
- Analyze messaging, branding, and the overall customer experience.
- Online Presence:
- Assess the online presence of competitors, including their websites, social media, and digital marketing efforts.
- Identify areas where competitors excel or lag behind in online engagement.
- Customer Reviews and Feedback:
- Gather and analyze customer reviews and feedback for competitors.
- Identify common customer concerns, complaints, and praises.
- Innovation and R&D:
- Investigate the level of investment in research and development (R&D) and innovation.
- Assess whether competitors are introducing new products or features.
- Supplier Relationships:
- Consider the relationships competitors have with suppliers.
- Assess the potential impact of these relationships on cost, quality, and product availability.
- Regulatory Compliance:
- Evaluate how well competitors adhere to industry regulations.
- Consider any legal or regulatory challenges competitors may be facing.
- Financial Performance:
- Analyze the financial health of competitors.
- Look at factors such as revenue growth, profitability, and financial stability.
- Geographic Presence:
- Determine the geographic areas in which competitors operate.
- Assess whether there are regional variations in strategy or customer preferences.
- SWOT Analysis:
- Conduct a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) for each competitor.
- Use the analysis to understand the internal and external factors influencing competitors.
- Mergers and Acquisitions:
- Investigate any recent mergers, acquisitions, or partnerships involving competitors.
- Assess the potential impact on market dynamics and competitive positioning.
- Customer Loyalty Programs:
- Examine whether competitors have customer loyalty programs or retention strategies.
- Assess the effectiveness of these programs in retaining customers.
- Emerging Trends and Disruptions:
- Stay informed about emerging trends and potential disruptions in the industry.
- Assess how competitors are adapting to or capitalizing on these trends.
By considering these factors, a business can gain valuable insights into the competitive landscape, identify areas of opportunity or vulnerability, and make more informed decisions to strengthen its market position.
- Identify Competitors:
The REBIZ Platform provides insights into the following 2 areas
Sales Suite
Description
- Sales Suite Description
Were dedicated to helping your stores improve sales conversion rates and perfect your sales process so you can grow profit margins and make more money! They say information is power and knowing what is happening in your stores can help you unlock their potential to grow.
Tracking and analyzing your retail sales performance and sales procedures is critical to making decisions and taking actions to stay competitive.
The Sales Suite provides you with the following critical insights:
- • The most accurate sales conversion data available
- • The most accurate traffic counting data available
- • Sales process monitoring to ensure your Sales SOPs are being followed
- • Store traffic pattern analytics to help ensure your stores are properly staffed
Focus Areas ▾
These are the areas of concentration that apply to the sales part of the platform
Sales Conversion Tracker
- Sales Conversion Tracker
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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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
- • xx
- • xx
Sales Process Monitoring
Store Traffic Predictor
Operations Suite
Description
Focus Areas ▾
These are the areas of concentration that apply to the sales part of the platform
Store Hours & Idle Time Monitoring
Store Employee Monitoring
Scheduling Advisor
