Client Story: Retail – Revenue
The Chief Executive Officer (CEO) and founder of a luxury retail brand had issues with conversion ratio, customer and employee engagement in a number of his locations (especially his largest outlet), and he was opening a new location that needed a fast start. Margins were down, customer satisfaction was down, and customer churn was up in these same problem locations.
He said the reasons for this were:
In his front line sales there was a lack of use of a consistent sales process, lack of sales and influence skills, lack of negotiation skills, and low staff motivation. His sales people did not have good closing skills. Nor did they have effective follow up. He said his managers had limited coaching skills and that despite their best intentions could de‐motivate staff when providing feedback, and were unsure of how to improve employee motivation.
He need a tailored solution:
He said this involved an effective sales process so that when clients were in his salons they would have a six star service experience. He wanted his sales people to demonstrate the sales process and communication and influence skills that would allow them to improve conversion ratios while maintaining customer emotional satisfaction and engagement. He also wanted to deploy an effective sales coaching system to the managers so that when they coached front line sales people they would improve employee engagement, motivation and sales skills. He ran a lean operation so he also wanted to deal with a vendor who would stay around and help his managers with the change management process with hands on help to implement and lock in the new system. He told us he needed “a way to implement rapid and lasting changes that would increase sales, increase customer engagement and employee motivation”.
Onirik helped him develop these capabilities quickly.
The result was a success and there was measurable improved employee motivation. His staff motivation and engagement skyrocketed and turnover dropped. Customer letters of commendation started to flow – three in one month for one location that had received none for the previous twelve months. Sales conversion tripled in his worst performing location from 22% to over 65%. His new location ramped up to a conversion ratio equal to that of his best within three months (a feat that took previous locations twelve months). The project paid for itself within three months and yielded an ROI of more than 525%.
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