Advanced Traffic Analysis Yields Profitable Workforce Insights


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To succeed in today’s competitive marketplace, merchants must optimize every aspect of operations. Using video intelligence, retailers can improve conversions and enhance performance in every square foot of store space.

This webinar will shed light on how retailers are collecting, analyzing and creating actionable intelligence from in-store video data. The link between the customer and the workforce has never been more important to store performance.

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Advanced Traffic Analysis Yields Profitable Workforce Insights

  1. 1. #WFM Advanced Traffic Analysis Yields Profitable Workforce InsightsPresented by Sponsored by #WFM
  2. 2. Welcome Webinar Attendees Type  ques)on  here   #WFM
  3. 3. Follow This Webinar On Twitter #WFM #WFM
  4. 4. About Retail TouchPointsü  Launched in 2007ü  Over 23,000 subscribersü  To provide executives with relevant, insightful content across a variety of digital medium Free subscription to our weekly newsletter: WWW.RETAILTOUCHPOINTS.COM/SIGNUP #WFM
  5. 5. Panelists Vince Jackson Virginia BalcomSenior Retail Strategist VP Marketing and Product Workforce Insights Management LightHaus MODERATOR Debbie Hauss Editor-in-Chief Retail TouchPoints #WFM
  6. 6. Trends  in  Workforce  Management   Tools  Retailers  are  using  to  improve  Customer  Service  and  Store  Opera7ons   •  Fully  Integrated/Automated  Retail  WFM  Pla7orm  and  Dashboards   •  Micro-­‐Level  Visibility  –  Site  specific  real-­‐Eme  customer  data  and  trends     •  Aligning  Staff  to  Customer  Demand/Peak  Traffic  –  PrioriEzing  the  customer   •  Customer  Engagement  Techniques  –  Defined  steps  to  close  the  sale   •  AnalyEcs–  StandardizaEon  and  prioriEzaEon  of  performance  metrics   •  Task  Management  –  Balancing  acEviEes  to  budgeted  hours   •  Mobility  –  Convenient  and  Emely  delivery  of  Integrated  applicaEons     •  Best  PracEces  –  People,  Processes,  and  Technology    6  
  7. 7. Trends  in  Conversion  Improvement   Significant  move  to  new  and  improved  WFM  applica7ons  and  tools       •  Dynamic  ForecasEng  –  IntegraEng  traffic  and  conversion  results  as  a  labor  driver   •  Customer  Engagement  Labor  Standards  –  Drives  consistent  Customer  Experience   •  Mobility  –  Real  Eme  conversion  results  (red,  green,  yellow)   •  Customer  Engagement  Techniques  –  OpEmizaEon  of  In-­‐Store  Behaviors   •  Customer  Queue  length  and  wait  Eme/abandonment  data  –  POS  experience   •  Customer  Tracker/Heat  Map/Dwell  Time  –  Electronic  tracking  of  customer  path   •  FiYng  Room  Conversion  –  Analysis  of  one  on  one  service  trends   •  Conversion  Results    -­‐  Advanced  metrics  by  Associate,  Department,  Store,  and  RE  Type   •  Normalized  Sales  Analysis  –  Compares  Traffic,  Conversion,  and  Ave  Ticket   Performance   •  Best  PracEce  Process  Improvements  –  Redeploys  labor  to  customer  service   Conversion  rate  is  a  measure  of  sales  performance,  given  the  traffic  opportunity  presented  7  
  8. 8. Conversion  Opportunity   Customer  Engagement  Techniques  –  OpEmizaEon  of  In-­‐Store  Behaviors   •  IdenEfy  best  pracEces  for  staff  engagement,  incenEves,  training,  coaching,  etc.  so  as   to  improve  customer  saEsfacEon  and  increase  conversion  rates   •  Correlate  staff  behaviors  to  sales  performance   •  Provide  managers  with  acEonable,  individual  associate  performance  informaEon,  to   commend  or  improve  associates  customer  engagement  skills     •  IdenEfies  elite  team  members  as  examples  of  exemplary  role  models  for  customer   service  team  members   •  Provide  objecEve  performance  informaEon  to  facilitate  staff  evaluaEons  and  “fit”  of   associate  skills  to  job  requirements     •  Ability  to  set  associate  specific  and  store  specific  performance  goals  8  
  9. 9. Conversion  Opportunity     Align  Staffing  to    Customer  Demand/Peak  Traffic  Periods     Leverage  integrated  WFM  system  to  insure  the  right  person  is  scheduled  at  the  right   place  and  Eme  to    give  consistent  customer  engagement  based  on  customer  traffic   and  Customer  experience  requirements  using  engagement  labor  standards       9  
  10. 10. Conversion  Opportunity   Provide  Performance  Management  Metrics/Tools     Conversion  ReporEng  by  Associate  –  Example  –  Management  reports   measure  and  compare  store  performance,  evaluate  revenue/cost  trade-­‐offs,   and  proacEvely  manage,  measure,  and  rank  associate  performance   •  Report  combines  Eme  and  adendance  data,  pos  data,  and  traffic  counter  data   •  Performance  can  be  measured  as  Conversion  by  Associate  or  Sales  Dollars  per  Shopper   Sales  Dollars  per  Shopper $12.00 90 $11.50 80 $11.00 70 $10.50 60 $10.00 50 $9.50 40 $9.00 30 $8.50 20 $8.00 10 $7.50 0 Arnold,   Stanley,   Perry,  Delana Jameson,   Strong,  A mmy Egger,  Mary Ulrie,  Kerry Zeller,   Candice Melody Laura Charolete 1 2 3 4 5 6 7 8 Conversion  Rate Customers  per    Hour10  
  11. 11. Conversion  Opportunity  Financial  Benefits   Example:   Retailer  with  20%  Conversion  rate,  $3  billion  in  sales  and     $60  million  in  profit   1%     5%+     Conversion  Rate   sales  gain   Improvement   100%+  profit  gain   RETAIL  EQUATION:     Store  Traffic  x  Conversion  x    UPTs  x    Avg.  Retail    =  Store  Sales    
  12. 12. Advanced Traffic Analysis Yields Profitable Workforce Insights Real World Examples Virginia Balcom LightHaus PAGE 12
  13. 13. Using Advanced Traffic to Improve Customer Service &Conversion – Two Key Questions Are there the right number of associates in the store, with right skills mix to help customers purchase? Are they focusing on customer facing activities when the store is busiest? PAGE 13
  14. 14. LightHaus Visual Customer Intelligence In-Store SpotLights Measure •  How many customers enter/exit the store •  Where they go in the store •  Where do customer go in the store •  Where and what products and categories do they browse •  5 minute intervals •  Audited for accuracy Report •  Conversion – store, product, category, promotion, locations Manage •  Improve store operations, customer service, marketing & merchandising effectiveness to increase conversion Entrance SpotLight PAGE 14
  15. 15. Improving Operations with Peer Group Insights
  16. 16. PEER GROUP: Northern, Small, Mall Stores – October2012
  17. 17. Drilling Down with Shopper to Associate Ratio
  18. 18. Tools for Store Managers
  19. 19. Another Tool for Managers – Tracking Golden Hours
  20. 20. Insights: Optimizing Staff by Department PAGE 20
  21. 21. Q&A // Submit Your Questions Type  ques)on  here   #WFM
  22. 22. Q&A Vince Jackson Virginia BalcomSenior Retail Strategist VP Marketing and Product Workforce Insights Management LightHaus #WFM
  23. 23. Thank You For Attending This Webinar You can download this presentation at: #WFM