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Too Scared to Look at Conversion Rate?

By on September 1, 2014

I have spoken to many independent practice owners who think that monitoring conversion rate will make them seem too much like a multiple. So they don’t do it.

It’s true, the larger multiple groups are well known for making conversion rate one of their key metrics for success. It’s also true that occasionally the larger multiples can focus on increasing conversion rate and forget about delighting the customer. Yet an independent practice can very easily monitor both conversion rate and customer delight. And by doing that can easily see whether their patients are being ‘over-sold’ to, or whether they are delighted by the fact that the optometrist is making great recommendations for product.

So why am I saying that conversion rate is one of the most important KPIs to measure?

  • It gives an accurate indication of how many of your patients actually want to buy from you on the day
  • It can indicate whether an optometrist is recommending product or not
  • It can show whether you have the right frames and lenses (at the right price) for the people outside your door
  • It’s easier (and often better for your business model) to raise conversion rates than average order values

Some optical software can make this complicated, so for an accurate figure I always used the trusty pen and paper at the end of each day:

Number of people who purchased / Number Tested x 100 = Conversion Percentage

Looking at conversion rate doesn’t make you one of the multiples; it doesn’t make you a pushy boss or even a money grabber. It helps you make sense of your customers, ensure that they are being offered solutions that are perfect for their lifestyle and make improvements to your product offering.

Looking at conversion rate can only be a positive thing for your business, your finances, your employees and your customers. Don’t be scared to look at it.

About Rebecca Thompson

Rebecca Thompson has worked her way from the ground up in optics, starting as receptionist, she moved to Dispensing Assistant and then to Dispensing Optician, then Store Manager then Group Manager. This has given her a unique insight into the workings of Independent Optical Practices. At Practice Building she has found a home for sharing her innovative ideas for making running Independent Optical practices efficiently, profitable and enjoyable.

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