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Target Setting & Performance Measurement

Setting targets and measuring the performance of a retail stores network is everything but a trivial task. There are a lot of things to design, implement and fine-tune before resulting into a solution suited for your network particularities and culture. It is a lengthy but necessary path you need to cross in order to motivate your network and maximize its revenues. 

 

      Things to consider include no less than the following:

  • Performance measurement: The most important KPI in your methodology is the overall store performance and it must be defined in such a way so that it motivates your network, maximizing its revenues at the same time. 
  • Reporting: A concise, simple and easy to comprehend report is an essential component of your planning methodology. It serves as the fundamental communication tool to your network and requires your full attention. You should pay attention to its layout, the included data and the periodicity of its production.
  • Infrastructure: A proper infrastructure will facilitate the implementation of your targeting and performance measurement methodology. It can vary from a small database to a full set of tools that includes RDBMS, GIS analytics, CRM analytics and a reporting tool. 
  • Target Allocation Models: A TAM should be built for every product/service that is to be targeted. Its purpose is to optimally split the overall product target to the stores, taking under consideration parameters such as: store figures, store dynamics, store area dynamics and market indexes. TAMs can vary from simple models to advanced ones that require considerable effort and special tools to be produced, such as CRM analytics and GIS systems.

What we can do for you... 

In Retail Network Consultants we can assist you in every step of designing and implementing a robust, reliable and practical solution. Whether you need a detailed roadmap of how to proceed by yourselves, a detailed methodology with KPI definitions, a custom made database, comprehensive sales reports, advanced target allocation models or variable compensation schemes, we are here to build or help you build the solution that best suits your needs. 

Designing a complete solution is a difficult, time consuming and skill intensive step. We have come across companies that have spent large amounts of money by investing in unnecessary software and wasted a lot of time by not selecting a proper roadmap to follow.

At a fraction of the cost you'd expect and at the shortest possible time we can build a solution made just for you, your network, your infrastructure, and above all, your culture

What you can do for yourselves...

Have a look at our extensive presentation to fully understand our perspective of the things mentioned above. This principles and guidelines presentation is also accompanied by a set of free tools (available through the contact form below):

  • an introductory, free to use MS Access* database, that manifests the principles discussed in the presentation. This database supports quarter targets and monthly sales figures and if the sales report meets your requirements, then you have at your disposal a  simple solution that can keep you up and running for quite some time.
  • a sales report, utilized by the database,
  • an elementary Target Allocation Model, which splits an overall product target to the stores, simply by statistically combining the various product parameters that you provide. 

(*) We do not consider MS Access as the most appropriate development platform, especially in a multi-user environment, it is ideal however for the purpose of reaching the biggest possible audience. The only limitation in the provided database is that only the first ten store sales reports can be automatically created, however, you can always create the remaining, one by one.

 

Download our free set of tools (32bit and 64bit database versions available)

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