RIA Benchmarks in Action
Conversation with Chris Winter, Reno Running Company General Manager
Who in your company views data from UQ?
The owners and general manager monitor and download reports from Cadence. Store managers review the data and discuss it with all staff members. I typically spend around four to six hours per month reviewing data. All the metrics are helpful, but we focus on three specifically for staff, and I will cover each of the metrics two to four times per month with them.
How has the data from UQ helped you and your staff?
It has improved motivation to hit sales targets and allowed us to better monitor expenses. We do offer incentives to staff based on email, sock and insole attachments. We can see our high producers in terms of sales per hour are and properly staff our stores thus helping us manage customer flow and staff expense.
Where specifically has the information helped you see where you need to improve?
We can monitor email retention. We use this to show staff that the way they ascertain that information is ineffective compared to those who do it using the company method.
How easy is it to understand the data and information?
Very easy. We have had no issues.
What else makes the UQ Benchmarks and information valuable to you?
It is most valuable in monitoring individual growth among staff as we try hit certain benchmarks. We do compare how we are doing to the industry. We have a competitive staff and by showing them through the reports how we are doing and making it completely objective, we can take the subjectivity out and motivate them to improve. I think our next step in using the reports will relate to new customer acquisition. We are still uncovering the best ways to use Cadence.
Some content and resources may not be visible because you're not logged in. If you are a current member, use the login form below. Not yet a member? Join today!