Reports indicate that anywhere from 50 - 82% of customers leave retail stores without purchasing. For most retailers, increasing the percentage of purchasing customers by a very attainable 5% could make a tremendous difference to the bottom line. For example, if 50% of a store’s 200 daily customers typically make purchases, and this store’s average sale per customer is $40, raising the store’s purchase rate to 55% (only 10 more purchasers per day) would equate to an additional $400/day and $146,000 annually. If that store was part of a 100-store chain, and they all raised their purchase rates from 50% to 55%, the additional annual sales would equate to almost $15 million.
How can you ensure that a higher percentage of your customers make purchases? You must first ask your customers why they are not purchasing, understand what wants and needs you are not fulfilling, and act.
Customer intercept interviews (also called exit interviews) are especially insightful because the interviews take place at your locations, during or immediately after your customers’ shopping experiences. It is here that customers can accurately recall details of their shopping experiences and express their reasons for purchasing or not purchasing.
Why should you choose BestMark for your exit interviewing needs? First of all, most companies that offer exit interviews charge approximately double the price we can offer. Some of these companies even charge many times more because they fly exit interviewers to certain locations. At BestMark, we have qualified exit interviewers across the country, which typically enables us to avoid travel costs altogether.
Furthermore, our lower costs do NOT equate to lower quality. Due to our efficient processes, rules-based systems, and sophisticated training, our error rate is almost non-existent, and we pride ourselves on having the best quality assurance processes in the industry:
At BestMark, we also understand that the conduct of our exit interviewers reflects on your company. If exit interviewers are pushy, unprofessional, or just act bored with the interviewing process, this gives your customers the message that you don’t genuinely care about what they have to say. Our exit interviewers know that the manner in which they gather your data is just as important as the data itself. As an extension of your company, they will be courteous, appreciative and sincerely engaged when interacting with your customers.
Too many companies have made the mistake of gathering customer feedback and then finding that they have an overwhelming amount of data that they aren’t sure how to use. We can help you understand which customer-suggested improvements will give you the greatest return on investment through increased customer loyalty and profitability. We can also measure the progress of your action plans with additional services and solutions such as mystery shops, compliance audits, and follow-up exit interviews. This holistic and cyclical process will enable you to stay on the forefront of understanding your customers’ needs and help you optimally prioritize your actions for continually improving customers’ experiences and your bottom line.
Contact Us to learn more about how BestMark can unlock your company’s potential for ever-increasing success.