Weighted Opportunities Lost and Average Conversion rate are two Bellwether-exclusive displays which enable you to make powerful, data-driven business decisions.
When you joined Bellwether, you gave us conversion rate goals or expectations which this graph compares with your actual conversion data. The numbers show the percentage lost and, if you are achieving your conversion goals, you will see a tick. The higher the number shown on the graph, the lower your conversion. This is a really visual way to discover on which times of day or week your store is performing really well, and which times need some work. You can compare this to data you already have on promotions, staffing and opening hours to make data-driven choices. As with all our graphs, there are multiple views available. The box on the lower left allows you to see an average for the past 12 months or any period of time you choose, as well as a rolling weekly view with the real data for that week.
Weekly total compares the average transaction value of purchases made for the week with your lost opportunities and shows it to you as a dollar value. This is the amount of revenue you would be making if you hit your goals every single time and you should be trying to keep this number as low as possible.
If your store is finding it difficult to hit the conversion rate goals and you wish to lower them, or if you are consistently striking well above your goals and wish to raise them, get in touch with us and we can quickly change your conversion rate goals. It’s important to find the balance between a challenge and a desire for growth, and having goals that are actually achievable by your people, and when you find that balance you’ll find that sales performance begins to rise.
The average conversion rate graph works the same way but it shows the actual conversion rate percentages rather than percentage points below goals.
Clicking the Drill Down button on the Average Conversion Rate graph will allow you to create a report that will compare the Conversion Rate, Foot Traffic, Transaction Count, Average Transaction Value and Items Per Transaction of the locations your select across the date period you specify. The report will outline any outliers that fall short of any set target.
Updated on July 7th 2020