Fuel forecast indicator tool to help operators make improvements in certain metrics to drive fuel volume sales.
Market Force Information and Phillips 66 Co. have developed and deployed a new site-based reporting tool that allows marketers and operators of the Phillips 66 brands – Conoco, Phillips 66 and 76 – to predict how improvements in consumer experience can grow fuel volume sales.
The Key Driver Fuel Forecast Indicator leverages insights gathered from Phillips 66’s Retail Excellence mystery shopping and audit programs to formulate predictions that can drive change and improvements in terms of gallons sold.
Using the power of sophisticated financial modeling, the Market Force Analytics & Insights team identified the key operational metrics that drive fuel volume performance. Working with Market Force’s technology team, these insights were incorporated into a web-based performance calculator that shows operators how improvements on specific metrics can increase fuel volume at the site level. Now, an operator can understand the potential ROI for enhancements, enabling them to make more informed decisions about the management of each site in the system.
“This is a game changer for Phillips 66, and we can finally provide answers to the question, ‘why run a mystery shopping program?’ We can now show operators what happens when brand standards are met and the right consumer experience improvements are made,” said Mike O’Connor, manager, Brand Image for Phillips 66.
“This tool is a major breakthrough in driving site-level improvements. Phillips 66 customers will now be able to predict returns on efforts such as consistently cleaning pumps and bathrooms, or ensuring store associates are in nice, neat uniforms,” said Gail Funderburk, vice president of Client Strategy for Market Force Information.
The Key Driver Fuel Forecast Indicator is a first-of-its-kind predictive tool that enables executives to understand the financial return of investing in improvements in the customer experience. While initially intended for use by Phillips 66 brands, it has applications in other industries as well, such as retail, restaurant and grocery.