High Performance Client Relationship System that significantly increases client data collection, conversion and retention.
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- Purpose: To help brands transform their front-line professionals from being predominately disengaged transactors into highly profitable customer relationship builders
- Our Approach: We enable your brand's DNA to come to life daily by customizing our techniques and methodologies specifically for your unique needs. Our advanced, high-performance system is based on continuously conducted and tested empirical research and proven best practices, with insights derived from aviation, the armed forces, education, medicine, and professional sports, as well as from our own innovative, leading edge proven techniques. We serve every client as an independent and objective coach who provides honest and thorough feedback to ensure that they understand their approach from an outside perspective. Luxury Institute's team has the expertise to guide and track execution to guarantee the success of the system, as well as engage and empower the front-line team to take ownership and accountability for adapting their culture through our system.
- What We Do:
- Educate front-line teams about the value of consistently building long-term client relationships using methods that are supported by research and high-performance industry standards
- Empower teams to identify best practices in client relationship building for their brand and inspire them to execute consistently daily
- Coach teams to design and deploy a unique experience that makes clients and prospects feel special and increases their loyalty to the brand
- Inspire front-line teams and individuals to be their best humanistic, creative and personal selves with every client
- Ultimately, we seek to transform front-line teams from being disengaged and transactional employees into high performance client relationship builders who demonstrate expertise, trustworthiness and generosity with every client
- How We Do It:
- Customize Luxcelerate to the DNA of your brand
- Conduct highly interactive workshops with your best practitioners and our experts to develop the relationship values, best practices, and coaching processes
- Develop effective education systems that transform training into learning, and learning into mastery that delivers consistent execution
- Provide certification and reinforcement through powerful education techniques
- Empower your low-, average-, and high-performers to use daily behavioral metrics that drive client data collection, conversion, average transaction value and retention
- Gain empirical client feedback to understand how their experience has transformed since implementation of the system
- Align the people selection and compensation processes to attract and retain the best people, and reward critical behaviors
- Client Results and Case Studies:
Luxury Men's and Women's Retailer
- Globally, top customer retention increased 65% over one year
- Doubled sales in three years to $1.3B
- Profit margins among highest in industry at 33%
Luxury Women's Specialty Retailer
- Data collection (e-mail and mobile number) rose from 40% to 95% in less than one year for prospects and customers
- Customer retention grew 52% over one year
- Doubled sales in three years and sold to major conglomerate
Luxury Women's Specialty Retailer
- Data collection (e-mail, mobile number and address) rose from 43% to 65% in three months, with one store increasing to 85%
- Client note entries into point-of-sale (POS) system rose from 30% to 65% in five months, nearly half of the brand's stores reached 75%+
- Sales increased by 30% over previous year
Premium Women's Ready-to-Wear Retailer
- Increased conversion on a weighted average basis by 22.4% over six months
- Sales increased an average of 15% month over month for the pilot stores, while other stores increased by only 1%, on average, each month
- Pilot stores contributed to a larger percentage of total US sales every month, and increased from contributing 30% of total store sales to 48% of total store sales after six months
Premium/Luxury Men's Custom Retailer
- Increased average order value by 11% in six months
- Sales increased by 54% in six months, the strongest month reaching 84% over the previous year
- Client Testimonials:
- “The Luxcelerate system provided not only an increase in sales performance – 54% increase in sales and 11% increase in average order value in six months – it also provided a consistent management platform to facilitate expansion into new markets. Creating consistent practice, measurement, coaching methodology and language for managers and sales associates is a massive improvement as we scale our business.”
-Founder and CEO, Knot Standard
- "The training program [Luxcelerate] helped us re-train our entire team of sales professionals and dramatically improve their overall effective selling skills. [Luxcelerate] helped us develop specific coaching techniques for our managers to improve the overall performance of all of their sales professionals. With the implementation of [Luxcelerate], we were able to improve our margins by over 400 base points while also improving our percent to retail dramatically; conversion, sales, and EBDITA all increased by high double digits. We were also able to move our stores to a full price selling model, which, of course, improved our bottom line profits significantly. I would highly recommend Luxury Institute if you are looking to improve your client experience within your organization."
-Former Sr. Vice President of Retail, Luxury Watch Retailer
- "Thanks to our engagement with Luxury Institute's Client Culture [Luxcelerate] implementation, the business in our #1 Market (New York Metro), which accounted for ~15% of our business, went from flat to 15% and increased retention in one location by 50%. The program enabled our sales, education, and artistry group to create daily rituals, behaviors and metrics to deliver the client experience mandated by our company culture."
-Former CEO, Gurwitch Products
- "Luxcelerate is the perfect play on words! To have had the opportunity to partner with the Luxury Institute CEO, Milton Pedraza, and his team to build a branded Customer Culture training has been a true delight. What was most outstanding was Luxury Institute's genuine dedication to the project. It developed our training approach, and had a tremendous impact on the brand perception and the business results in a short period of time."
-Director, Training and Development, Luxury Women's Retailer
Although client results are confidential, client data capture, conversion, retention, and satisfaction were positively impacted thus creating an increase in sales.