Put simply, the revenue you generate is directly down to the behaviours of your customers.
Revenue = sum of all transaction values in a given period
But the value and number of transactions in that period are measurable customer behaviours. The customer has chosen to shop with you and what they spend. So revenue can only change if you change the behaviours behind it
To change something, you must first understand it
If you are the retailer that measures and understands the behaviours of your customers, you are best placed to influence them.
There are three ways to influence your Customers Behaviours
- Sell – Make them a customer of yours
- Sell More – Give your customers reasons to buy more from you
- Sell More Often – Build customer loyalty
The metrics that measure each are the key to understanding changes to your customers. Some are only measurable through customer accounts – e.g. loyalty schemes
We help our Clients to understand the behaviours that affect their revenue. We explain how these behaviours are changing. We also show the impact they have on our clients revenue and profits.
This understanding allows them to gently nudge their customers to spend more. The Retailers that do this (our clients) get increased revenue and profits.
Contact us to find out more about the key customer behaviours that lead to revenue growth
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