How to boost sales and revenue goals is challenging for most companies. Only two out of five sales representatives actually achieve their sales goals, a Qvidian report found. This costs companies an average of 3.2% of their potential revenue, Accenture research shows. Fortunately, the same research indicates that companies could close this gap with a 5% improvement in sales achieved through better use of technology coupled with better training.
One piece of technology you’re probably under utilizing is your security camera. In addition to making your workplace safer, security cameras can help you gather valuable data that you can use to boost your sales. Here are three ways security cameras can help you increase your sales revenue:
Shopping Route Heat Maps
To optimize website design, designers use heat maps that identify the spots on a webpage that generate the most clicks, which can be useful for knowing where to place priority content. Retailers have recently been borrowing this tactic by using security cameras to chart in-store heat maps, reports Business Insider. By using cameras to track customer traffic patterns in stores, heat maps enable companies to see where customers walk, how they get there, what displays and products they pay attention to, and what they ignore. You can also create heat maps that show which products customers touch.
This type of information can help your store make more informed decisions about where to place products that you want to showcase. It can similarly help you determine where to place on-floor representatives to optimize their interactions with customers. It can also help you identify which products customers are picking up but not purchasing, suggesting that these product lines may need a different sales strategy or may need to be dropped from your inventory.
Home surveillance cameras are also being repurposed by stores for video analytics, reports Security Magazine. Your security camera can help you capture vital sales and marketing data, such as how many customers enter your store per day, what times of day your in-store traffic reaches its peak, how long customers spend viewing different parts of your store, and how long your customers wait in line. You can also combine this data with customer smartphone data for personalized analytics to help you optimize sales for individuals.
You can use the footage you capture to generate analytics reports by integrating your camera with apps from providers such as Prism Skylabs. The better the quality of your video footage, the more effectively you can use it for analytics, says G4S Secure Integration sales director Mike Hanlon. For best results, use an HD security camera system from a high-end provider such as Lorex, which is also better for security purposes.
Hot Prospect Alerts
Another way to leverage your security cameras for sales is to use them to alert your floor representatives to shoppers who are in need of assistance. Your representatives can only cover part of your floor area, but with the help of well-placed security cameras, you can keep track of who needs help throughout your entire store. Camera footage can be monitored by a designated attendant who then relays this information to your representatives, or representatives themselves can carry a mobile device with an app that lets them monitor security footage. By using this tactic, you can deploy your sales associates where they are most needed and optimize your use of your in-store team.
If you want help establishing yourself and/or getting new business, contact Will Sherwood, CEO of The Sherwood Group. He can help you reach your goals.
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