Measurement 101 - A guide to using In-store analytics
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Transcript of Measurement 101 - A guide to using In-store analytics
Copyright © Turnstyle Solutions Inc. 2015. All Rights Reserved
101MEASUREMENT
A GUIDE TO USING IN-STORE ANALYTICS
Copyright © Turnstyle Solutions Inc. 2015. All Rights Reserved
If you’re new to in-store analytics it can be a bit intimidating.
MEASUREMENT 101
Copyright © Turnstyle Solutions Inc. 2015. All Rights Reserved
MEASUREMENT 101
The truth is, you don’t need to be a rocket scientist to understand analytics.
Copyright © Turnstyle Solutions Inc. 2015. All Rights Reserved
The first step is to learn what the different Turnstyle metrics measure.
MEASUREMENT 101
Copyright © Turnstyle Solutions Inc. 2015. All Rights Reserved
They can be categorized into 3 groups to tell you how you’re performing in the following areas…
MEASUREMENT 101
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Attracting Customers
Engaging Customers
MEASUREMENT 101
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Attracting Customers
Engaging Customers
Targeting Customers
MEASUREMENT 101
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Attracting Customers
Engaging Customers
Targeting Customers
Use these metrics to see how well you’re ATTRACTING customers
TOTAL VISITORS A snapshot of all
the visits to your venue
WALK BY The number
of visitors passing outside of your venue
NEW VISITORS First-time
visitors
CONVERSION RATE* Shows how many outside
visitors are converted into customers
*Calculated by dividing total visitors by (total visitors + walk by)
MEASUREMENT 101
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Use these metrics to see how ENGAGED your customers are
VISITOR DURATION The length of time visitors
spend in your venue
REPEAT DISTRIBUTION A breakdown of how
many visits per person
WIFI SIGN INS The number of people
who sign-in to your WiFi network
Attracting Customers
Engaging Customers
Targeting Customers
MEASUREMENT 101
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Use these metrics to see how well you’re TARGETING customers
AGE The age range of your customers
VISITOR NETWORK TRENDS
What other types of venues your customers go to
GENDER The ratio of male
and female visitors
Attracting Customers
Engaging Customers
Targeting Customers
MEASUREMENT 101
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So how can we use this information to improve our business?
MEASUREMENT 101
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We need to start with a game plan.
MEASUREMENT 101
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Making a game plan.
What you want to accomplish GOAL
MEASUREMENT 101
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Making a game plan.
What you want to accomplish
What will determine success
GOAL
OBJECTIVES
MEASUREMENT 101
Copyright © Turnstyle Solutions Inc. 2015. All Rights Reserved
Making a game plan.
What you want to accomplish
What will determine success
The path to success
GOAL
OBJECTIVES
STRATEGY
MEASUREMENT 101
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Making a game plan.
What you want to accomplish
What will determine success
The path to success
How to get the job done
GOAL
OBJECTIVES
STRATEGY
TACTICS
MEASUREMENT 101
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Turnstyle’s metrics allow you to set measurable objectives to track success.
GOAL
OBJECTIVES
STRATEGY
TACTICS
MEASUREMENT 101
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Attracting Customers
Engaging Customers
Targeting Customers
Let’s go through an example for each of our categories
MEASUREMENT 101
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EXAMPLE #1
Goal:
Attract more visitors to your business
MEASUREMENT 101
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Goal Objective/Metrics
Strategy Tactics
Attract more visitors to your visitors to your business
EXAMPLE #1
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Goal Objective/Metrics
Strategy Tactics
Increase Total visitors from 1290 to > 1500 Attract more visitors to your
visitors to your business
EXAMPLE #1
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Goal Objective/Metrics
Create more awareness and incentives to visit
Strategy Tactics
Increase Total visitors from 1290 to > 1500 Attract more visitors to your
visitors to your business
EXAMPLE #1
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Goal Objective/Metrics
Attract more visitors to your visitors to your business
Create more awareness and incentives to visit
• Launch an ad campaign
• Improve merchandise selection
• Offer weekly specials
Strategy Tactics
Increase Total visitors from 1290 to > 1500
EXAMPLE #1
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After implementing your tactics, review your metrics to gauge success.
EXAMPLE #1
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Metric Objective Actual
>1,500 visitors>1,500 means success
<1,500 adjust tactics
EXAMPLE #1
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EXAMPLE #2
Goal:Improve customer engagement in
your retail location
EXAMPLE #2
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Strategy Tactics
Goal Objective/Metrics
Improve customer engagement in your retail location
EXAMPLE #2
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Increase the number of visitors who stay for 1 hour from 48 to 75
Strategy Tactics
Goal Objective/Metrics
Improve customer engagement in your retail location
EXAMPLE #2
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Increase the number of visitors who stay for 1 hour from 48 to 75
Make the store environment more pleasant
Strategy Tactics
Goal Objective/Metrics
Improve customer engagement in your retail location
EXAMPLE #2
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Increase the number of visitors who stay for 1 hour from 48 to 75
Make the store environment more pleasant
• Implement new staff training
• Display engaging content on TVs
• Offer free visitor Wi-Fi
Strategy Tactics
Goal Objective/Metrics
Improve customer engagement in your retail location
EXAMPLE #2
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Review your metrics to gauge success.
EXAMPLE #2
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Metric Objective Actual
>75, 1 hour visitors>75 means success
<75 adjust tactics
EXAMPLE #2
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EXAMPLE #3
Goal:
Target a more lucrative crowd
EXAMPLE #3
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Attract a more lucrative crowd to your restaurant
Strategy Tactics
Goal Objective/MetricsEXAMPLE #3
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Attract a more lucrative crowd to your restaurant
Increase the average visitor age from 25 to 35
Strategy Tactics
Goal Objective/MetricsEXAMPLE #3
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Attract a more lucrative crowd to your restaurant
Increase the average visitor age from 25 to 35
Adjust messaging and brand to appeal to the new ideal
customer
Strategy Tactics
Goal Objective/MetricsEXAMPLE #3
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Attract a more lucrative crowd to your restaurant
Increase the average visitor age from 25 to 35
Adjust messaging and brand to appeal to the new ideal
customer
• Increase menu prices
• Offer more premium liquors and wines
• Implement a dress code
Strategy Tactics
Goal Objective/MetricsEXAMPLE #3
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Review your metrics to gauge success.
EXAMPLE #3
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Metric Objective Actual
Average age > 25Average age>25 means success
Average age<25 adjust tactics
EXAMPLE #3
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Before it was difficult to identify strengths…
MEASUREMENT 101
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Before it was difficult to identify strengths… and weaknesses.
MEASUREMENT 101
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But now, instead of just looking at this…
MEASUREMENT 101
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We can look at this!
And this!
MEASUREMENT 101
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We can look at this!
And this!
And This!
MEASUREMENT 101
Copyright © Turnstyle Solutions Inc. 2015. All Rights Reserved
So, start using in-store analytics to find hidden opportunities and areas of improvement for your business today.
MEASUREMENT 101
Copyright © Turnstyle Solutions Inc. 2015. All Rights Reserved
Want to learn more? Request a live demo
or
Join our platform overview webinar
MEASUREMENT 101