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Retail Greatness Blog

Using KPIs Effectively

Effective Key Performance Indicators (KPIs) measure a company's productivity and efficiency to determine its overall performance. Remote field teams can especially benefit from this information because KPIs allow field reps to see how their individual accomplishments contribute to the overall success of the company - something that's harder to see when you're out in the field all day.

Topics: field force performance field team accountability relevance kpis timeliness

Strategies for More Accurately Measuring KPIs

Key Performance Indicators (KPIs) give managers the data they need to make important and more strategic decisions for the company. But how do you know which KPIs are more important to measure? 

Topics: product in-store marketing promotions kpis

Using a Mobile Retail Audit Solution to Improve Your Shelf Performance

Manual methods of entering data, such as paper, clipboards, spreadsheets, and laptops, tend to be the dominating force when conducting audits in the retail market. The problem with this is that there is a significant gap in time between when the audits are conducted and when management finally gets those manually entered reports and can respond to any issues that are discovered during the audit. Accuracy can also be an issue during any process that involves the manual transference of data.

Topics: brand metrics kpis mobile solution shelf performance

The ABC's of Sales Coaching

Next, let’s discuss sales coaching.  Any “perfect store” should be staffed with a team of sales people.  Each and every person in the store should have some level of responsibility for sales, be trained in the art and science of selling, and receive continual sales training and motivation.  When I mention sales here, I’m really speaking current-day selling – in other words, stuff the shoppers’ baskets with things they want, need, can use, and are happy to purchase.  Never push products on people just for the sake of a short-term ticket.  It will cost the store in the long run if people are duped into buying items they don’t want and can’t use.  The idea here is to create a KPI for sales training, as well as other KPIs for product knowledge training, and monitor those KPIs to ensure ongoing sales training.

Topics: leadership sales sales coaching kpis

Setting Clear Objectives for, and Meeting, Key Performance Indicators (KPIs)

With the leadership teams of both retailer and supplier – working together as one team – setting clear objectives for KPIs and having real-time visibility to progress against them, the store perfection team can measure and manage progress towards “perfect stores.”  Oftentimes the collection of “perfect store” KPIs is called the “Perfect Store Scorecard,” and a common KPI across all stores is the percentage of perfect stores.  Clearly, the ideal is to have 100% perfect stores at all times, which is not physically possible.  What is possible, however, is to have a very high percentage of perfect stores most of the time.  How is that, you might wonder?

Topics: kpis key performance indicators reports