'Retailers today are able to generate the critical customer information on traffic and conversion rates that turn from their traditional anecdotal reflections . . . in Conversion Mark Ryski tells us all that we need to know to make that shift a reality. A true find for any retailer looking for dramatic improvements in business outcomes!'' - Len Schlesinger President, Babson College former Vice Chairman and COO, Limited Brands ''A retail brand is built from the cumulative effects of its shoppers' experiences over time, making learning from these experiences a strategic priority for retailers in order to drive business value. Converting customers into buyers is the first step in creating a sustained partnership that results in value for all. The strategies introduced in this book will help retailers of all sizes and categories convert their customers' experiences into future buyers.'' - Pat Conroy Vice Chairman, Deloitte LLP & Consumer Products Practice Leader ''Half the battle is finding the right things to measure for your business and industry. Ryski is right that conversion is a critical metric for retailers who care about revenue, profits, and growth.'' - Thomas H. Davenport President's Distinguished Professor, Babson College & Author of Competing on Analytics and Analytics at Work "Retail Conversions - the Last Great Metric? Of the many books I read recently, there aren't many that I find hit an important mark in retail, or that provide tactically useful information on which to take actions and make decisions. Not so with Mark Ryski's book "Conversion: The Last Great Retail Metric". Ryski's book is a solid read at 366 pages, which gives him room to get into the detailed depths of metrics critical to all sales organizations. What I specifically liked most is the fact that Ryski provides ample examples of the metrics that are important. With deep, practical and easily understood explanations of why they are important. This is without a doubt the best, and most practically useful book for both store managers and for executives in retail. Two key topics Ryski addresses, are how foot traffic and retail conversions are critical aspects that need to be measured. Simply, if you don't monitor and improve on these metrics, then it is hard to succeed in this hyper-competitive landscape." - Charles Dimov - OrderDynamics, now Tecsys. - Read more at: tecsys.com/blog/archived_post/retail-conversions-last-great-metric/ CONVERSION The Last Great Retail Metric By Mark Ryski AuthorHouse Copyright © 2011 Mark Ryski All right reserved. ISBN: 978-1-4634-1422-1 Contents INTRODUCTION: The Last Great Retail Metric...........................................1CHAPTER 1.1 What this tells you that you don't already know..........................15CHAPTER 1.2 Conversion champions.....................................................27CHAPTER 1.3 Living & dying by "Comp" sales...........................................69CHAPTER 1.4 Conversion takes the mystery out of mystery shopping.....................95CHAPTER 1.5 Why traffic counters can be a pain.......................................119CHAPTER 2.1 Calculating Conversion...................................................141CHAPTER 2.2 Finding the missed sales opportunities...................................165CHAPTER 2.3 Why good advertising can look bad........................................183CHAPTER 2.4 Staffing for conversion..................................................213CHAPTER 3.1 Driving sales performance with conversion................................241CHAPTER 3.2 Consumption is key: creating a conversion culture........................275CHAPTER 3.3 Implications round the executive table...................................303CHAPTER 3.4 Why some retailers get it – and others don't.......................325CONCLUSION: Chief Conversion Officer.................................................359ACKNOWLEDGEMENTS.....................................................................365END NOTES/APPENDIX/INDEX.............................................................371 Chapter One What this tells you that you don't already know What will this tell me I don't already know? This is what many retailers ask me. They simply don't believe that counting traffic and measuring customer conversion will tell them anything they don't already know. Or, I guess, anything else worth knowing. The answer lies in the basic dynamics of retail. Consider: Every day customers visit your stores intending to make a purchase. Your advertising was successful – it got prospects to your store despite the myriad of choices they have. Congratulations. These prospects wandered the store, looked at products, engaged one of your sales associates, and they may have even made it all the way to your check-out, but then, for some reason, decided not to buy. The sale is lost. And worse, you will never even know. To repeat: Every hour of every day, prospects vis