You must have allocated your time, money, and energy in establishing and promoting your entrepreneurial venture. You have invested in erecting a retail outlet with products, ads, and other accessories. You must expect a higher conversion of leads to buyers to make your venture fruitful. Every single sale counts for a business. It is known that one in ten inquiries or footfalls converts into a potential buyer. This figure is not enough these days to survive. You need to amp the game up.
If you want to convert more window shoppers into potential buyers, you will have to design a suitable strategy to implement on the retail floor. Here is the list of valuable tips to fabricate a perfect conversion strategy.
- Calculate your conversion rate
This is the first metric step that involves in the formulation of a strategy. Find out how many customers are converted into buyers. It is practically easy to find out how many customers are visiting your physical store and what percentage of them is buying your products. The genre of your business will set the percentage expectation. Define your conversion quotient first and then take one step at a time to formulate a strategy.
- USP is the key
Competition will always be there. You will have to be different from the crowd. You have to make your stand in a louder and different tone so that your brand can get recognized easily. Define your USPs (unique selling propositions) and prepare a clear message for the visitors. Once your USP is recognized, you will get more footfalls in your store and will be able to convert them into potential buyers. A study reveals that defining USPs automatically increases the sale by 35% and the conversion rate up to 73%.
- Remove bottlenecks
This step is very crucial for the future of your business. Find out the entire process, step by step, starting from entering the store, showcasing the items, managing the floor plan, routing the customers to the counter, and close the sale. The process will also include procurement of products, warehousing, pushing the products, and customer support. During this time, you will have to find out all the bottlenecks that can pull your business backward. In this case, a SWOT analysis will be very helpful. Find out the flaws, eradicate them, and introduce new strategies to make the process more efficient.
- Answering calls
Even the inquiry calls are very important for your new venture. You must have a customer support cell. Make sure that your inquiries are promptly answered by trained staff. Go beyond the scripted calls and introduce a personal tone to make the customers feel comfortable. Learn more about their buying habits and provide the ideal solutions to them with exclusive offers. When a potential lead finds that his requirements are met properly, he will definitely gain confidence on your business and will surely become a repeat customer. Do not procrastinate on any customer issues. The loss of potential leads can become unaffordable at times.
- Guidance on the floor
Train your on-floor staff to aid the incoming footfalls to buy showcased products. The first step is to educate them about the products. When the customers are convinced, slightly change the tone to push and close a sale. Train the staff to take the new customers on a tour of the store and define the specific items available.
- New signs and interactive techs on the floor
The customizable signs and shelves that particularly look like the products are a remarkable way to grab the attention of the onlookers for a longer period of time. The more they are attached, the higher is the chance to convert them into a buyer. Introduce new edge technologies in your store to make the visit quite experiential for the customers. Along with the strong sales team on the floor, the new techs will do miracles.
- Sales pitch adjustment
No one likes a pushy sales executive. It is not a market in Hong Kong where your staff will stalk the customers and emphasize on buying things. Train the staff to adapt in different scenarios so that they are capable of handling all types of mindsets.
Follow these tips to create a unique strategy to convert the window shoppers into buyers.