It’s not exactly news to retailers that you can sell more if you know more about your customers. But the process of getting to know them can feel like an overwhelming task. It doesn’t have to be. Just because we’re surrounded by Big Data doesn’t mean you have to – or should – try to track and understand all of it. You can target your efforts to glean retail insight, to zero in on what matters most for your store.

What matters most to your customers is a shopping experience that is highly personalized. One thing that’s important to keep in mind is that they are now omnichannel consumers. You have to collect data from all of your marketing channels (including in-store) to truly understand their behavior. Then you’ll be able to offer that “all about me” experience they crave.

Here are some of the things you should be tracking to improve sales:

• Response to your online marketing. Are you really using your digital analytics to see which paid ads, landing pages, offers, and calls to action are working best? You can test right down to the color and placement of page elements. This isn’t a frivolous exercise – we’re talking conversions here.

• Local and/or regional preferences. If you sell from multiple locations in different geographic areas, are you customizing merchandise choices to match local preferences? If not, your store is lacking relevance. That’s a non-starter when it comes to sales.
  
  
• Social media commentary. Regularly tracking and participating socially with your customers is a must. You’ll make points when you thank them for their rave reviews and sharing. You’ll make even more points when you “hear” the negatives and take action to fix problems. Resolving an issue can turn an unhappy shopper into an avid customer for life. Tracking customer sentiment also gives you insight into trending issues and product preferences – information you can use to improve both merchandising and service.
  
  
• In-store analytics, such as foot traffic. Without a baseline, you can’t know if you’re attracting more or fewer people, selling more or less merchandise compared to previous years, or even if your store hours make the most sense for your clientele.
  
  
• Wait times. Nothing irritates customers more – even those who really like you – than having to wait in line. Waiting to talk to a sales associate and waiting to pay are both deal-killers for an increasing percentage of customers. They’d rather shop somewhere else.

Well-targeted retail insight keeps your store at the forefront with customers.

It helps you:

• Choose the most appealing products and brands.
• Schedule staff more effectively.
• Boost customer loyalty by providing “wow” service.
• Engage with prospects and active customers.
• More accurately plan and forecast, to reduce out-of-stocks and overstocked inventory.
• Stop wasting time and money on weak marketing efforts.

Each of these benefits helps you increase sales. Knowing that, working to sharpen your retail insight feels far less daunting, doesn’t it?