Go Beyond Bargains, Reinvent the Black Friday Experience With WiFi Analytics
Black Friday is coming up in just less than a month. Research shows that fewer people are attending Black Friday year after year. According to PwC, only 35% of people who plan to shop during Thanksgiving week will do so on Black Friday, whereas 2016 saw 51% and 2015 saw 59%.
People aren’t incentivized by discounts anymore. Retailers need to ask themselves: How well do I know my customers and what else can I offer beyond discounts?
Deploy a WiFi Analytics Platform to Know Customers and Personalize Black Friday Deals
A WiFi analytics solution will help you organize and prepare to deal with the craze and traffic seen during Black Friday. As the day kicks into high gear, you can updates through a centralized dashboard that lets you see real time insights into how your store is performing.
Picture this: You are the store manager for a big-box retailer. Using the WiFi Analytics dashboard, you can see that only 15 percent of total visitors are going to the apparel section on the third floor. You can also visualize that most of your traffic is around the ‘home furnishing’ zone on second floor. Based on these insights, you can schedule more staff on second floor and send targeted notifications to customers on the first and second floor about discounts and promotions on the third floor.
The result? You have optimized staff scheduling and saved employees from being overworked, influenced visitors to poorly performing zones to improve the overall sales per square feet, sent personalized engagements to interested customers. And most importantly, turned your visitors into happy customers.
Reaping the Business Benefits of WiFi Analytics
- Improving Footfall and Acquiring Customers:First time visitors, especially those shopping for extraordinary bargains, are far more likely to visit a store that provides free WiFi on a par with that they’re used to at home. Once they connect using your network, they’ve been converted from visitor to customer.
- Gaining Customer Insights: Wi-fi analytics offer the best way to seamlessly gather business intelligence on the way customers really behave in-store, tracking footfall density at various points, dwell times and repeat visit patterns. When this information is available, the market can be segmented and understood far more accurately – and each segment can be targeted with personalized promotions. Operational management can be improved by access to precise data on wait times, customer behavior during peak times and staff activity.
- Personalizing Engagements: Intelligent decision rules can track customer behavior in store, in real time and at the individual level. These can then be used to send instantly generated coupons and offers, reducing “noise” and improving conversion rates.
- Providing Accurate KPIs: Promotional campaigns no longer need to be shots in the dark. By knowing more about each customer, and recording accurate information on metrics like coupon usage, effective marketing can be reinforced and poorly performing techniques discarded. In the case of businesses with multiple stores, a single dashboard interface allows management to compare and contrast efficiencies at various sites, and then dig deeper to isolate reasons for any variation.
Serving Black Friday Customers Better with Wi-Fi
November 24 is a date that can make or break a retailer’s reputation for customer service. Each visitor is likely to share their war stories with up to a dozen acquaintances, and whether these are good or bad will be instrumental in determining brand loyalty in months to come.
- Promote Discovery: In a crowded store, shoppers can use online portals to navigate the physical space, while simultaneously receiving product recommendations based on their purchasing history. Rather than putting up a poster advertising a sale on golf clubs, send marketing messages only to those whose purchase history indicates probable interest, and only when they’re near the sports section. Serving two or three messages like this per customer will be far more effective than trying to sell to the interested and indifferent alike.
- Rewarding Loyalty: Shoppers who are already spending much and often can be rewarded through personalized offers. This means analyzing their location personas, determining what their long-term value as a customer is likely to be and tailoring discount rates accordingly.
- Improve Shopping Experience: Traffic jams, long queues and immobile customers can all trigger automatic alerts, meaning that floor staff can spend more time at pain points.
Actionable Information Is Key
Clearly, the competitiveness of physical retail outlets depends on knowing what’s going on on the floor. Being able to track this information, at the level of individual customers and whether or not they buy anything on a visit, and then correlating this to the effects of personalized online marketing, is exactly what WiFi analytics offers.
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