Do you want to improve POS effectiveness? The first step is to know which indicators are used to obtain this data. Therefore, in this post we explain what are the 5 keys to measure the effectiveness at the point of sale.
It is important to monitor the key performance indicators, also known as KPIs. To do this, you must previously establish objectives that include business metrics, i.e., you must measure the real progress of the company against the initially established objectives.
5 keys to measuring effectiveness at the POS
When we refer to the POS KPIs, we must take into account the figure of the point of sale managers, as they are the ones in charge of monitoring the company’s own products and those of the competition on each visit.
In order to measure the effectiveness of promotions on consumers at each point of sale, it is important to correctly implement the actions and subsequently monitor the strategies, which will allow us to obtain this data.
Another variable that must be taken into account is the pricing strategy. It is important to carry out an exhaustive control of the prices that are being established at each POS, both for our own products and those of the competition, in order to obtain the repercussion of the price on consumer behaviour.
3. Product availability
In this case, it is necessary to check that there is an adequate quantity of product on the shelf to cover the needs of end consumers. Part of the work of the GPVs focuses on checking that this quantity is adequate to guarantee the availability of the product.
4. OOS (Out of Stock)
As we have already mentioned, it is important that there is always a supply of each reference, thus avoiding stock-outs. This situation would considerably affect the effectiveness of the POS, as the absence of product directly affects sales. This is why it is important to plan the frequency of field staff visits correctly.
5. Share of shelf
With this indicator, we can measure the space available for a product on the shelves of each POS, and thus gain a higher percentage than the competition.
Once you have analysed these 5 keys to measuring effectiveness at the POS, do not hesitate to contact us to start measuring the effectiveness of your actions at the point of sale.