Marketing Statistics For Retail Business
We all know the economy has been tough on all our pockets. Revisiting your marketing strategy is a great way to cut down on unneeded costs. Spending a ton of money on marketing that’s giving you a 10% or less conversion rate may need to be reevaluated. It’s time to take a look at the amount of money you’re retail business is currently spending.
Every business strives for non-stop traffic of customers and phones ringing off the hooks, but they usually come from a couple of your marketing approaches. All the other gimmicks are getting in the way of you perfecting your top marketing strategies. It’s all about the conversion rate. Let’s spend less energy and money while getting more out of your marketing scheme.
Without metrics you have nothing. Google Analytics is what we use at Salty Waffle. Once you understand how to use the wonderful tools and techniques it has to offer, you’ll be able to dig deep into what is and isn’t working.
What you need to understand is:
- Conversion Rate
- Number of Transactions
- Average amount spent by each customer