Retail Resources

11 Top Carrier Metrics

Oct 08, 2015 — Sarah Tuff
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Our Annual iQmetrix Retail Summit is just around the corner. What better way to round off our 5 part reporting series than with an article summarizing the top metrics we see dealers using across all carriers. Business Intelligence (BI) will be a big focus at this year’s Summit. Check out the agenda for the 5 Sessions the BI team is hosting and please stop by the BI area to learn about our Summit version release.

The below table, brought to you by Sarah Tuff and Ashia Coleman, offers you a quick list of the top key metrics we see dealers currently measuring across all carriers:

Metric

What it is

Why it Matters

 

1. Gross Profit

 

Measures the overall profit each employee and location is contributing.

 

Understanding the amount of GP each staff member and location is adding to the bottom line as you progress through the month is important!

 

 

2. Quantity of Contracts

 

Counts the number of Total Service Lines sold – Both new customers and those who upgraded.

 

Keeping track of how many lines sold per location and rep ensures everyone is on target. Tip: Customers typically set this up in RQ using a performance group which easily sums up activations and upgrades into a reportable single line item.

 

3. Quantity of Upgrades

 

Counts the number of customers who upgraded service.

 

Knowledge of how many customers upgraded service with you is a good indication of customer retention. Consider also looking into the ratio of upgrades to total contracts as a percentage.

 

4. Quantity of Financed Plans

 

Measures how many financed plans there are. (i.e. At&t NEXT or Verizon Edge)

 

Customers are starting to slowly move away from traditional longer term contracts and opt to pay up front for the device finance options. Tracking how many of these plans you are selling identifies the take rate of the new service.

 

5. Quantity of 2nd Devices (Aircards/Broadband/Tablet)

 

Measures how many 2nd devices were sold.

 

Adding a second line of service when a customer activates or upgrades is a great way to up the value of an Invoice.

 

6. Quantity of Trade-Ins

 

Measures how many trade-ins were processed.

 

Using a trade-in program such as Sprint Buyback, E-Recycle or Phobio is a great way to generate extra invoice revenue especially if the trade-in is processed at the time of upgrading service. Another metric to consider is: Trade-ins / # of Upgrades ( in %).

 

7. Financed % (Financed Plans Quantity / Quantity of Contracts)

 

Measures what % of financed plans are sold in relation to overall contracts.

 

Provides a measure of how many customers are opting for service on new month-to-month pay up front plans, as opposed to traditional 2 year contracts

 

8. Gross Profit / Quantity of Contracts

(In $)

 

 

Measures the average value per contract sold.

 

When viewed at the phone level, this is a great way to know which device is your heaviest hitter. When viewed at the location level, it will help you understand which stores and employees are your biggest margin contributors.

 

9. Profit of Accessories / Quantity of Contracts (In $)

 

 

Measures how much accessory profit is attached per contract each time a phone is sold.

 

Together with a unit based accessory attachment is a good way to provide guidance in maintaining a dollar goal per Invoice in accessory volume.

 

10. Quantity of Warranty / Quantity of Contracts (in %)

 

 

Measures the success rate of attaching a warranty plan each time a phone is sold.

 

Like accessories, the addition of a warranty plan to an invoice is another big ticket contributor. 

 

11. Quantity of Accessories Sold/ Quantity of Contracts

(in Numeric Attachment i.e. 2:1)

 

 

Measures how many accessory units are attached each time a phone is sold.

 

Setting an expectation to sell two accessories each time a device is sold is sometimes an easier concept to grasp for a rep than a dollar based attach rate. It also makes understanding a dollar based goal that much easier.

 

Make sure you view the complete RQ Tips Reporting series!

Part 1: 11 Key RQ Reports
Part 2: Customized Reports in 8 Steps 
Part 3: 8 Creative Must-Use Reports 
Part 4: 7 Tips for Performance Groups

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