conversion metrics

analytics

SmartRevenue's Conversion Metrics are based on the integration of shopper insights, sales data, and geo-demographic data to identify trading area at the store level, high value shoppers by trading area, share of trading area, and share of wallet that the store is capturing. By integrating these insights, SmartRevenue's Conversion Metrics drives targeted marketing at the household level and customized trade-area assortment at the store level.

what questions can conversion metrics answer?

Trading area analysis provides direction regarding:

  • Store location effectiveness in attracting key shopper groups
  • Merchandising focus on attracting a larger share of key groups
  • Pricing strategy that appeals to the dominant needs of identified shoppers

how are conversion metrics generated

Traditional "gravity model"-based trading areas are a three-to-five mile radius around a store or a fifteen minute "drive time". Based on this notion of a trading area, the demographic make-up of households is evaluated and a plan to match the banner and store to the available population is implemented.

SmartRevenue's Conversion Metrics replaces the "gravity" and "drive" models with one based on an in-store definition of the store's target population. This replacement provides an improved process to target high-incidence households -- those households that actually shop the store -- and to identify those households that are most like the people shopping the store.