Using The Right Yard Stick
August 11, 2014 § Leave a comment
Are you measuring the right categories for your business?
If you are only measuring the same categories that everyone else is measuring, and not the ones that define you then you are likely not measuring your biggest asset – why customers are coming to you.
Product selection is one of the key things that distinguishes you from all of your competition including the BCLDB, yet most LRS’s have set up their POS systems to collect data on the same categories as everyone else- Beer, Wine, Spirits, Coolers & Ciders.
Ask yourself which product categories are you great at or do you love? Measure those, not to the exclusion of others but in concert with others and you will have a much better handle on how your customers are behaving in relation to your vision and where you are going.
There are literally hundreds of ways to look at a category and break it down. For instance beer maybe 50% of your business and you want to be the go to place for 15 can packs. You can measure both the beer category in general and 15 cans in specific.
Maybe you want to be the source for Single Batch Craft Beers or Russian Vodkas. In order to see if the customer sees you in this light you need to measure those categories.
If you have any questions or would like some help in getting the ‘right’ categories set up drop me a line at firstname.lastname@example.org or contact me through the comments.