Taking Numbers
from Good to Great
Stacy Hamer
Topic 1
Metrics & Sharing Information
Flow of data for Wireless Retailer

Corporate
Office

DM’s &
RM’s

Store
Associates
How did we implement this and ensure it’s success?
Watched
behaviors
change

Measured
the right
data

Assigned
action
item...
Share: Activity Usage
Share: Activity Details
Identified where efforts
needs to be focused
Good coaching
opportunity amongst
store managers
Assign...
Who wants numbers like this?
20% Trade in Attachment Rate
30% HSP Attachment Rate
3 - Accessory Attach Rate
$45 – Average ...
Share: Contest Results Daily
Automatically sent
out every morning
to all managers
Reviewed Weekly
on manager call
Great wa...
Share: Average Gross Profit per Accessory
$35.00
$30.00
$25.00
$20.00
$15.00
$10.00
$5.00
$0.00
Summit Attendees

WC - Dist...
Share: Other Important Pieces: Carrier Import
400

Cleaner Customer Base

350
300

Accurate Reconciliation

250
200

Easie...
Guess what month other stores kicked in?
1000
900
800
700
600
500
400
300
200
100
0
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep...
Takeaway From Topic 1
•  Share Data
•  Automate Reporting & Contests
•  Talk about the results as a group
•  Assign action...
Topic 2
Inventory at Store Level
Best Practice #1: Sell old phones first

Always start
Activation here

Force on Home Screen
Real World Example:

8 Weeks of Measuring & Sharing Results
%

60
50
40
30

Monitor this in
Aged Serialized
Sales Status R...
Best Practice #2: Make Counting Easier

Yep…

69 incorrect
“Not Found” scans.
So here’s what went down…

Megan in hallway
holding door open
Kris in back
inventory room
with scanner

Stacy in front
of ...
Best Practice #3: Be Organized
Best Practice #3: Be Organized
Date Received on each phone,
not just color stickers.
Physically in order of old to new.
Best Practice #3: Be Organized

Physically setup in
a way to
make scanning
fast and easy!
Best Practice #4:
Use Blind Inventory Counts

This is
so stupid.

This is the worst
idea ever and is
never going to
work.
...
Don’t worry, it’s
going to be better
than ok!!!!
This is
so stupid.

This is the worst
idea ever and is
never going to
wor...
RQ Mobile Inventory
A Clean Inventory Room
Blind Counts
Inventory Discrepancies
$12,000.00
Use Inventory
Adjustment History
Report by product &
reason codes to get this
data

$10...
Best Practice #5: Keep stores accountable

Cost is $1.75
SRP is $19.99

Margin is 90%+
Let’s pretend
a store was missing
3 accessories…
Accessory

Cost

SRP

Margin

TOTAL

$12.73

$69.97

$57.24

Most Managers are accountable for this
value of loss to the C...
Accessory

Cost

SRP

Margin

TOTAL

$12.73

$69.97

$57.24

Consider making stores responsible for lost sales or
margin t...
Takeaway From Topic 2
•  Sell Old Phones first, measure & share
•  Keep an organized inventory room
•  Organize phones on s...
Topic 3
Email, Email, Email
@

108,000

Increase of over
+
invoices were emailed since last year’s summit

As a group, you still only email

2% of all...
Make Sure Setup is correct:
Setup Employee Profiles

Email address
goes here

Email settings
go here
Make Email Collection Mandatory

Don’t worry,
there is a declined option
for sales associate to choose
Start Simple – email every invoice
Measure the results
New in 4.16…
Advanced: Use Customer Custom Fields
Send Birthday Emails Every Month
Example:
Sept 24th, 12:34pm,

Sales rep collected
email and emailed
the invoice!

Sept 12th, 2013

Deborah Turner
bought a...
Why?
Very easy to setup in RQ
With iPhone Trade in Promo…
iPhone Acc QTY

1200
1000
800
600
400
200
0
wk1

wk2

wk3

wk4

wk5
Show the sweet numbers here
iPhones
500
400
300
200
100
0
wk1

wk2

wk3

wk4

wk5
Show the sweet numbers here
Trade in

400
350
300
250
200
150
100
50
0
wk1

wk2

wk3

wk4

wk5
Show the sweet numbers here
1200

iPhone Acc QTY

1000

iPhones

800

Trade in

600
400
200
0
wk1

wk2

wk3

wk4

wk5
Topic 4
Chargebacks & Hardware Collections
How it works
Customer
Buys Phone

Employee
sells in RQ4

Customer pays
with integrated
credit card
Charge Back Summary Report
Collections Module
Is this really working today?
There are 5 clients here who
represent 157 doors

Yes

Many people trying to collect
$2000-$...
Best Practices: Hardware Collections
•  Verbiage in Secondary Agreement shouldn’t say a
flat amount, instead up to that amo...
Tips for Using Hardware Collections

Only one token is collected per invoice.
Don’t get discouraged if success rate is low...
Topic 5
Customer Loyalty
iQmetrix Partners
RQ can help!
TracPoint Loyalty Report
Black Friday Appointment Setup
Topic 6
Gross Profit/Hour
Starting with the Basics
Use on Operations
Console

Force punch-in by
HR role
Enable Automatic
Punch Out’s
Measure: Clocked Hours Analysis Report
Measure: Clocked Hours Analysis Report

(Remember…BI can automate this for you per location & Sales Rep)
Share GP/Hour Results
Share GP/Hour Results
One of my
favorite stories from
Project Retail…
Wireless Communication Results
Jul
$51

GP/Hour Results during
first 5 months of measuring
Jun
$47
March
$38

Apr
$37

May
...
Takeaways

Watch behaviors
change & numbers
increase

Share your successes
amongst each other
Share data, Ask for advice,
...
iQmetrix.com | 1.866.iQmetrix

© 2011 iQmetrix. All right reserved. iQmetrix, the iQmetrix logo, RQ4 and other trademarks,...
RQ Retail Management: Taking Numbers from Good to Great
RQ Retail Management: Taking Numbers from Good to Great
RQ Retail Management: Taking Numbers from Good to Great
RQ Retail Management: Taking Numbers from Good to Great
RQ Retail Management: Taking Numbers from Good to Great
RQ Retail Management: Taking Numbers from Good to Great
RQ Retail Management: Taking Numbers from Good to Great
RQ Retail Management: Taking Numbers from Good to Great
RQ Retail Management: Taking Numbers from Good to Great
RQ Retail Management: Taking Numbers from Good to Great
RQ Retail Management: Taking Numbers from Good to Great
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RQ Retail Management: Taking Numbers from Good to Great

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Regardless of the task, all employees want to improve their performance. It could be GP/Handset, Accessory Attach Rate, HSP Attach Rate, Trade in Attach Rate, Customer Satisfaction Scores, Traffic into Stores, etc. How can you take these numbers and make them better? Pulling a number of key examples from our Project Retail project, we’ll examine attachment rates, customer follow-ups, discounting, staffing and more. We’ll look at RQ customer stats to show you how improving performance (through the right numbers) is possible.

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RQ Retail Management: Taking Numbers from Good to Great

  1. 1. Taking Numbers from Good to Great Stacy Hamer
  2. 2. Topic 1 Metrics & Sharing Information
  3. 3. Flow of data for Wireless Retailer Corporate Office DM’s & RM’s Store Associates
  4. 4. How did we implement this and ensure it’s success? Watched behaviors change Measured the right data Assigned action items based on results Shared the info with everyone Reviewed the info with everyone
  5. 5. Share: Activity Usage
  6. 6. Share: Activity Details Identified where efforts needs to be focused Good coaching opportunity amongst store managers Assigned Focus for measureable results
  7. 7. Who wants numbers like this? 20% Trade in Attachment Rate 30% HSP Attachment Rate 3 - Accessory Attach Rate $45 – Average Accessory GP
  8. 8. Share: Contest Results Daily Automatically sent out every morning to all managers Reviewed Weekly on manager call Great way to get any company metric up Example: 6/7 stores maintaining a $45 acc gp/act
  9. 9. Share: Average Gross Profit per Accessory $35.00 $30.00 $25.00 $20.00 $15.00 $10.00 $5.00 $0.00 Summit Attendees WC - District 1
  10. 10. Share: Other Important Pieces: Carrier Import 400 Cleaner Customer Base 350 300 Accurate Reconciliation 250 200 Easier Training 150 100 Use PAW Exceptions report to get this info 50 0 Feb Mar Apr May Jun Jul Aug Sept
  11. 11. Guess what month other stores kicked in? 1000 900 800 700 600 500 400 300 200 100 0 Feb Mar Apr May Jun Jul Aug Sept
  12. 12. Takeaway From Topic 1 •  Share Data •  Automate Reporting & Contests •  Talk about the results as a group •  Assign actionable items •  Measure non-sales related tasks •  Ex: Activities and carrier imports
  13. 13. Topic 2 Inventory at Store Level
  14. 14. Best Practice #1: Sell old phones first Always start Activation here Force on Home Screen
  15. 15. Real World Example: 8 Weeks of Measuring & Sharing Results % 60 50 40 30 Monitor this in Aged Serialized Sales Status Report 20 10 0 W1 W2 W3 W4 W5 W6 W7 W8
  16. 16. Best Practice #2: Make Counting Easier Yep… 69 incorrect “Not Found” scans.
  17. 17. So here’s what went down… Megan in hallway holding door open Kris in back inventory room with scanner Stacy in front of store watching RQ …..1.5 hours later …we found MOST of the phones
  18. 18. Best Practice #3: Be Organized
  19. 19. Best Practice #3: Be Organized Date Received on each phone, not just color stickers. Physically in order of old to new.
  20. 20. Best Practice #3: Be Organized Physically setup in a way to make scanning fast and easy!
  21. 21. Best Practice #4: Use Blind Inventory Counts This is so stupid. This is the worst idea ever and is never going to work. How will I be able to steal now??
  22. 22. Don’t worry, it’s going to be better than ok!!!! This is so stupid. This is the worst idea ever and is never going to work. How will I be able to steal now??
  23. 23. RQ Mobile Inventory A Clean Inventory Room Blind Counts
  24. 24. Inventory Discrepancies $12,000.00 Use Inventory Adjustment History Report by product & reason codes to get this data $10,000.00 $8,000.00 (or automatically in BI) $6,000.00 $4,000.00 Project Retail Began $2,000.00 $0.00 Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
  25. 25. Best Practice #5: Keep stores accountable Cost is $1.75 SRP is $19.99 Margin is 90%+
  26. 26. Let’s pretend a store was missing 3 accessories…
  27. 27. Accessory Cost SRP Margin TOTAL $12.73 $69.97 $57.24 Most Managers are accountable for this value of loss to the Company.
  28. 28. Accessory Cost SRP Margin TOTAL $12.73 $69.97 $57.24 Consider making stores responsible for lost sales or margin to your company, not just the cost!
  29. 29. Takeaway From Topic 2 •  Sell Old Phones first, measure & share •  Keep an organized inventory room •  Organize phones on shelf to make scanning easier and faster •  Use Blind Inventory Counts •  Consider making stores responsible for Sales or Margin lost on items gone missing from store
  30. 30. Topic 3 Email, Email, Email
  31. 31. @ 108,000 Increase of over + invoices were emailed since last year’s summit As a group, you still only email 2% of all invoices
  32. 32. Make Sure Setup is correct:
  33. 33. Setup Employee Profiles Email address goes here Email settings go here
  34. 34. Make Email Collection Mandatory Don’t worry, there is a declined option for sales associate to choose
  35. 35. Start Simple – email every invoice
  36. 36. Measure the results
  37. 37. New in 4.16…
  38. 38. Advanced: Use Customer Custom Fields
  39. 39. Send Birthday Emails Every Month
  40. 40. Example: Sept 24th, 12:34pm, Sales rep collected email and emailed the invoice! Sept 12th, 2013 Deborah Turner bought a new phone. Deborah came back in and bought a shiny new CLA. Sept 24th, 10:47am Corporate Office sent the happy birthday email.
  41. 41. Why?
  42. 42. Very easy to setup in RQ
  43. 43. With iPhone Trade in Promo… iPhone Acc QTY 1200 1000 800 600 400 200 0 wk1 wk2 wk3 wk4 wk5
  44. 44. Show the sweet numbers here iPhones 500 400 300 200 100 0 wk1 wk2 wk3 wk4 wk5
  45. 45. Show the sweet numbers here Trade in 400 350 300 250 200 150 100 50 0 wk1 wk2 wk3 wk4 wk5
  46. 46. Show the sweet numbers here 1200 iPhone Acc QTY 1000 iPhones 800 Trade in 600 400 200 0 wk1 wk2 wk3 wk4 wk5
  47. 47. Topic 4 Chargebacks & Hardware Collections
  48. 48. How it works Customer Buys Phone Employee sells in RQ4 Customer pays with integrated credit card
  49. 49. Charge Back Summary Report
  50. 50. Collections Module
  51. 51. Is this really working today? There are 5 clients here who represent 157 doors Yes Many people trying to collect $2000-$3000 off of one token They have collected over $130,000 using this module The highest amount anybody has collected is $1060
  52. 52. Best Practices: Hardware Collections •  Verbiage in Secondary Agreement shouldn’t say a flat amount, instead up to that amount: •  Ex: By accepting this agreement, you agree to repay up to $250 for basic phones, up to $500 for smartphones, up to $750 for iPhones. But of course, check with your legal team depending on your carrier or state
  53. 53. Tips for Using Hardware Collections Only one token is collected per invoice. Don’t get discouraged if success rate is low, something is better than nothing Policies for QTY of activations on an invoice need to reflect this
  54. 54. Topic 5 Customer Loyalty
  55. 55. iQmetrix Partners
  56. 56. RQ can help!
  57. 57. TracPoint Loyalty Report
  58. 58. Black Friday Appointment Setup
  59. 59. Topic 6 Gross Profit/Hour
  60. 60. Starting with the Basics Use on Operations Console Force punch-in by HR role Enable Automatic Punch Out’s
  61. 61. Measure: Clocked Hours Analysis Report
  62. 62. Measure: Clocked Hours Analysis Report (Remember…BI can automate this for you per location & Sales Rep)
  63. 63. Share GP/Hour Results
  64. 64. Share GP/Hour Results
  65. 65. One of my favorite stories from Project Retail…
  66. 66. Wireless Communication Results Jul $51 GP/Hour Results during first 5 months of measuring Jun $47 March $38 Apr $37 May $38 Aug $50
  67. 67. Takeaways Watch behaviors change & numbers increase Share your successes amongst each other Share data, Ask for advice, assign action items!
  68. 68. iQmetrix.com | 1.866.iQmetrix © 2011 iQmetrix. All right reserved. iQmetrix, the iQmetrix logo, RQ4 and other trademarks, service marks, and designs referenced in this material are the exclusive property of iQmetrix Software Development Corp. and/or its subsidiaries.

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