In business activities, the closing rate is an important indicator, which reflects the effectiveness and efficiency of sales. So, how to calculate the turnover rate?Let's take a closer look.
First of all, it is necessary to clarify the definition of closing rate. Closing rate refers to the ratio of sales of a certain product or service to total turnover over a certain period of time. In other words, how many out of every 100 customers buy goods or services. This percentage is usually expressed as a percentage, i.e. (sales of total turnover) 100%.
When calculating the closing rate, you need to pay attention to the following:
1.Determine the total turnover. Total turnover refers to the total consumption of all customers over a certain period of time. This amount can be obtained through the cash register system or the sales system.
2.Determine sales. Sales amount refers to the product of the number of sales and the unit price of a certain product or service in a certain period of time. This amount can also be obtained through the cash register system or the sales system.
3.Exclude anomalous data. When calculating the closing rate, you need to exclude some anomalies, such as cases where sales are 0 or negative. This data may affect the accuracy of the closing rate.
In addition to the basic calculations mentioned above, there are some commonly used tips and strategies that can help improve your closing rate:
1.*Activity. Through the first activity, you can attract more customers to come to consume, and at the same time increase the customer's desire to buy and purchase volume. Common activities include discounts, full discounts, giveaways, etc.
2.Product portfolio. Combining different products to sell together can increase your customers' desire to buy and how much they buy. For example, sell clothes and pants together, or coffee and bread together.
3.*Tactics. ** is one of the important factors influencing a customer's purchase decision. Through a reasonable strategy, you can increase the customer's desire to buy and the amount of purchase. For example, reducing the value of a product by reducing prices or discounts**, or increasing the added value of a product by improving product quality and service levels.
4.Marketing strategy. Through marketing strategies, customer loyalty and purchases can be increased. For example, to increase customer loyalty through membership systems, point redemption, etc., or to increase customer satisfaction and purchase volume by providing better after-sales service.
5.Setting. The setting of the environment can influence the customer's purchase decision and purchase volume. For example, make your store more welcoming and cozy, or place some attractive decorations or knick-knacks in your store.
In conclusion, calculating the turnover rate requires mastering the basic calculation methods and some commonly used techniques and strategies. Through the rational use of these methods and strategies, you can improve the sales effect and efficiency of the store, so as to achieve business goals.
Search Topic Full Time Challenge December