Until today, there is one key measurement component that most banks and retailers are missing. You measure your bottom line, you measure your store transactions, you measure your inventories, you measure your online transactions, you measure your labor, your measure your shrinkage, and you measure your teller utilization.  

But few retailers and branch banks measure their most important component.  Why? Because customer measurement used to be an intermittent, labor intensive, subjective, and error prone activity.  Only the best-in-class consistently measures their customers in the store.  They do this continuously and automatically.  Face it, an occasional glance around the store is neither considered a good nor accurate measurement of customers and customer activity, any more than an occasional glance at the financials gives you an accurate measurement of economic fitness.  Just like you measure labor and transactions and gross sales on a regular basis, you need to measure your customers on a regular basis.

Pick your favorite quality program – Six Sigma, TQM, SPC, ISO, and one of the first activities on the road to quality is to measure your activities and this includes measuring your customers.   How do you measure your customers?   Number of customers in and out? Number of customers waiting in (pick your favorite / checkout / teller / help / customer service) line?  Number of customers stopping at a display, end cap, or isle?  Traffic flow throughout your floor?

Another quality effort is being successfully driven by Carnegie Mellon University’s SEI effort.  Goal 1 and 2 are to, again, establish measurement objectives and to collect, store and analyze the measurement data.   It’s the same with your customers. You need to measure the customers in and out, their activities, their wait times, their areas of interest, their dwell times, in order to tailor your programs to meet your customers’ needs.

The Brickstream Solution is a complete solution for the advanced measurement of customer behavior in the brick-and-mortar environment. It's the only solution that:

• Continuously captures retail store customer behavior using the most effective combination of in-store sensors.
• Applies the advanced technology and processes of BehaviorIQ™
• Integrates and correlates captured image data with other critical data.

Brickstream delivers facts instantly by providing the right tools for the right people with Brickstream Dashboard, Brickstream Portal and Brickstream Alerts so you can take solid steps to improve your customer’s experience and your bottom line.

Read this month’s newsletter for more information on how Brickstream can help you improve your bottom line.