So now you have the conversion rate for your store – what can you do with it? Well first of all you can look at the time of day the conversion rate was at its highest and investigate why this might be. Was it the result of a marketing promotion? Was it because you tried a new store layout? Does the conversion rate increase for a certain work shift? Was it because there were more staff working at that time?
Without this data you would not even be able to ask these questions. Yes you could look at the number or value of sales over time and see if it coincides with events such as these, but this would miss an all important factor – how many sales opportunities were you actually losing at those times? If your sales have increased but you are actually selling to a much smaller proportion of visitors to the store, what is the cause? If you could maintain a consistent conversion rate, how much higher would your sales be?