As a retailer, you are aware of the difficulties of managing a retail outlet. It has never been more important for a business to overcome inadequate and outdated performance measurement technology to make critical decisions to maximize revenue.
Having a budget visitor counting system can lead to misleading reports that can hurt your business decisions. Technologies are evolving at a rapid pace, allowing advanced entrepreneurs to take advantage of opportunities often missed by others who do not invest in the highest quality tools available.
The cost of wrong data
A number of discrepancies occur when we try to process data from an inaccurate people counting system:
- You can count the number of visitors coming in and out of your store as the number of visitors. For example, data from an infrared system will show you a total of 100 visitors (50 incoming and 50 outgoing), but only 50 people have actually visited the store. This can lead to high expectations when you make decisions about how your store is designed and how it is loaded. Surprisingly, many retailers are still using infrared-based systems.
- Budget systems do not distinguish children from adults. Since children are not usually the ones who buy, for some retailers their number is not significant and would lead to a distortion of statistics.
- If your system is unable to differentiate between staff and customers, you may get a completely wrong idea about the movement and time spent in the store. You may also pay unnecessary labor costs to serve an inaccurate number of visitors.
- Budget systems do not accurately measure large volumes of people, accounting for whole groups as one person. This in turn can significantly distort statistics and lead to poor business planning and decisions.
Our solutions feature reliable hardware and software that allows you to analyze your customers’ traffic with a high level of precision. Make sure to build your business strategy on reliable information without having to make guesses.
Why you should never settle for an inaccurate system
Investing in a precise system can help your business improve service quality and help you find practical, yet cost-effective ways to grow your sales. Inaccurate data is equivalent to not having data, as this can encourage you to spend on advertising campaigns, labor, and capital expenditures, which can be ineffectively positioned in inappropriate periods for your store.
A high-precision system should be the first choice for retailers who want to successfully turn visitors into customers. Collecting and using virtually freely accessible visitor count information is a resource your business should utilize.
Your information is as good as its source. You would not hire someone who is unfamiliar with your business to serve your customers, so why trust unreliable systems to help you analyze store metrics?
As the market changes, customers are increasingly considering how and where to spend their money. Let Mavenstat help you make the best choice that will not only benefit you but also improve the customer experience in your store.