Retail Resources

Unlocking Assets With Analytics

Mar 31, 2016 — Kevin Gervais
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 Statflo, who works with wireless stores across eight carriers, recently shared some shocking stats on how the industry is performing.

  • The typical store makes one transaction every two operating hours
  • Stores generally only see one out of every four customers come back to buy from them again
  • Sales reps have on average 3-6 hours of idle time every week, leading to low staff engagement and lost sales opportunities

Dealers that unlocked their data saw amazing results in just 12 months.

  • Retained over 60% of their customers (up from 25%)
  • Made 6-8 transactions per hour, per store (14X more than average)
  • They grew upgrades four times faster
  • They activated idle time of sales reps to increase repeat transactions over 30%

In their eBook "4 Hidden Assets Every Wireless Dealer Can Unlock" they explained if raw customer data is power, then as a wireless dealer, you’re Arnold Schwarzenegger.

When you think about it, iQmetrix customers have tons of data to leverage, from purchase history to commission data. Combined with other data sets you might already have, there is a mountain of information about who, what, where, when and how your customers transact with you. 

Sales reps have on average 3-6 hours of idle time every week, leading to low staff engagement and lost sales opportunities.

Here are some of their tips on how data can be activated:

  • Mine the data for opportunities to build relationships with previous customers
  • Automate reconciliation by assigning actions to your team if errors are found
  • Make data accessible online instead of sending out reports
  • Connect it to third parties like Salesforce, Slack, or Autopilot
  • Prompt your reps to start a conversation with a customer via SMS

Tip: Statflo does all the above.

 

Download Statflo eBook

 

Topics: Business Intelligence, Integrated Solutions

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