Page 70 - enLIGHTenment - November 2017

on the Mark

KPIs are
most focus can be placed on the individual with- A weekly KPI to review for this goal could be
out interruption.
called “Contact Acquisition Rate” or “CAR.” I like
essential
The conversation is based in the reality of the calling it CAR because it gets you where you want
KPI, actual performance vs. desired performance to go, but you can call it anything you want. An
when
or worse, the feeling of performance. This pro- essential CAR focus would be obtaining email ad-
managing the fessional exchange allows for the celebration of dresses or social media likes and follows.

demonstrated progress and guidance around If the goal is to get email addresses for mar-
performance
stumbling blocks.
keting, tell the team the actions that must take
If you have not yet used KPIs in your business, place with each customer. The result of those
of a process,
my advice is to start at a slow pace with one or e orts will yield an email address. The KPI would
two people and then expand. Result-based per- be the number of email addresses obtained vs.
a strategy, an
formance programs and their indicators focus on the number of clients asked. That percentage is

individual, the portions of the business that will make the your actual amount of collected addresses vs. the
most immediate bo om line impact. When the target.
or an
individual’s performance hits the standard, go to According to a recent survey by YouGov, 27
the next action item and repeat.
percent of consumers state they would not share
organization.
Along with those coaching sessions, follow up their information at any point. This tells us 73 per-

with “immediate feedback” on observed perfor- cent will share it. We would assign a KPI that 73
mance. Sometimes waiting a week to talk about an percent of all customer interactions would either

observed action is too long. When a sta member supply an email address, or there is already an
is with a client and is observed performing in a way email address on le.

that is not aligned with the agreed upon outcome, it Set up KPI tracking like a scorecard in golf with

is time to make a quick note and immediately follow only three choices: have the email address on le,
up with the team member while the action is fresh.
obtained an email address, or client refused to

supply. The numbers in each category will provide
Just one KPI
information to help improve performance.

An example of one goal to put into action is to
selectIng shoWRoom KPIs
increase the size of the contact list.
KPIs that make the most impact will resemble

the primary activities the business engages in.
Guide team members on how to catalog the prog-

ress of their activities within the agreed upon

time frames. This information will help shape
performance decisions and can isolate areas of

growth or improvement for the individual and the
business.

KPIs can focus on the actions of every de-

partment; however the top 10 KPIs that have a
bearing on today’s retail environment are:

1. Total Sales

2. Gross Margin Pro t per Transaction/Item

3. Salesperson Conversion Rate (closing)
4. Door Tra c

5. Ave $ Sale
6. Email addresses / Facebook Page Likes

Acquisition

7. Customer Contact & Ongoing Engagement
8. Return Rates

9. Product Turn Rate
10. Organic Tra c (Web)

68 enLIGHTenment Magazine | noveMber 2017
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