#UncleJoeRant. (5 of 5)
To determine the "Internet Walk-in" sales ratio from monthly VIN sales, follow the steps outlined below, using the defined variables and formulas.
Definitions:
- V = Total sales of VINs a month (e.g., 100 VINs)
- B = Percentage of buyers who were on the site prior to purchase (from survey, e.g., 80%)
- L = Sales rate of BDC/Lead Gen as a percentage of total store sales (e.g., 20%)
Objective:
Calculate the "Internet Walk-in" sales ratio, which represents the percentage of total sales made by customers who visited the website before purchasing but were not accounted for through BDC/Lead Gen efforts.
Steps:
- Calculate Buyers on Site Prior to Purchase:
- Formula: Buyers on site = V * B
- This step determines the number of buyers who visited the site before making a purchase.
- Find BDC/Lead Gen Sales:
- Formula: BDC/Lead Gen sales = V * L
- This calculates the sales attributed directly to BDC/Lead Gen efforts.
- Calculate "Internet Walk-in" Sales:
- Formula: Internet Walk-in sales = (Buyers on site) - (BDC/Lead Gen sales)
- By subtracting BDC/Lead Gen sales from the total buyers on site, we find the number of "Internet Walk-in" sales.
- Determine "Internet Walk-in" Sales Ratio:
- Formula: "Internet Walk-in" sales ratio = ((Internet Walk-in sales) / V) * 100%
- This final step calculates the "Internet Walk-in" sales ratio as a percentage of all sales.
Final Formula:
- "Internet Walk-in" sales ratio = (B - L) * 100%
Example Calculation:
If B = 0.80 (80%) and L = 0.20 (20%), then the "Internet Walk-in" sales ratio is calculated as:
- "Internet Walk-in" sales ratio = (0.80 - 0.20) * 100% = 60%
