Retailers often tell us that they have most of the data that Edge provides. Here we explain why they are right.
According to our CRM, since we launched the EdgePetrol product 687 days ago on 6th September 2017 we have attended 346 meetings. If you only take into account working days that is 346 meetings in 491 days – one every 1.4 days.
Out of those 346 meetings, at least half have pointed out something very true. That retailers already have most if not all of the data that EdgePetrol currently offers.
We live in a world of data. We provide it daily without a second thought when we visit websites, send emails, use the tube, buy food, and when we ‘Netflix and chill’. Data is used to shape our lives, in government, marketing, education, and healthcare.
As a forecourt retailer, you have thousands of data points running through your site daily as every purchase is captured and stored on the PoS and back office with details on grades, prices, shop sales, pump numbers and card types. Data exists from your suppliers in cost prices and delivery schedules. You may even collect your own competitor data on the ‘morning moped’ pricing run. Or maybe you use other data providers such as Experian Catalist.
It’s safe to say, that data is not something in short supply for retailers. It’s there in abundance.
The other thing we found in our 346 meetings, is that many retailers are already really, really good at using this data. With so many data points retailers have managed to boil down to three key metrics when setting a pole sign price:
- Volume
- Margin (pole sign – cost price)
- Competition
So if you have all the data and you know how to use it, why would you use EdgePetrol?
Put simply, EdgePetrol takes all your data and provides you the insight you need (points 1, 2 and 3 above) as accurately as possible, as quickly as possible, accessible from anywhere and with no manual entry.
This means that the way you make your decisions does not change, but the quality of your decision is much better as it is based on data that you can’t get from manually entered spreadsheets and end-of-month reporting.
Our clients who joined Edge before June 2019 have seen an average YOY profit increase of over 24% to June this year. Edge hasn’t made any decisions for them. This is driven by their experience and decision-making, but with better tools at their disposal to do so.
If you are great at running your forecourts then it might be worth giving Edge a try.
