Leverage location data you’ve gathered in your store or venue to optimise the customer experience and increase overall profitability.
Use location intelligence to figure out how your customers interact with a physical space. Then, adapt your processes to improve the customer experience and reach out to them with timely promotions when they’re most likely to be receptive.
Find out all about the hardware you’ll need to start gathering usable data, and the techniques you should deploy to maximise ROI.
What hardware do I need to leverage location data collected indoors?
These are the main types of hardware that progressive brands use to gather data in their venues:
RFID tags and smart labels can be used to identify and collate data on an item automatically. Use RFID to:
- Track items as they’re moved throughout the venue
- Identify customers who pay using a credit, debit or loyalty card
- Monitor stock volumes in real-time
Bluetooth beacons can be used to interact with customers’ smartphones. Use beacons to:
- Triangulate precise customer locations and movements
- Track overall customer footfall and flow
- Transmit promotional materials when they enter geo-fenced areas
Providing free, high-quality Wi-Fi offers the same advantages as beacons.
But, as the utility value is higher for customers, they’re more likely to provide you with something in return. With Wi-Fi, you can:
- Ask customers to provide an email address/loyalty card number to access
- Analyse search history and online activities conducted pre-sale
How can I use this data to optimise profitability?
These are just some of the ways you can use location data collected in your store or venue to increase profitability by improving the customer experience and streamlining your operational practices:
- Group items customers typically purchase simultaneously together to reduce walking distances.
- Help customers access additional product/service information and find related products.
- Create a store layout that’s sympathetic to known customer behavioural trends.
- Position high-ticket items to ensure they appear on routes frequented by the highest volumes of relevant customers.
- Predict purchase volume to ensure your inventory is always sufficiently stocked and streamline wider logistical operations.
- Provide supplementary services to help customers overcome identifiable challenges (such as staff to help carry bulky items).
- Signpost customers towards items related to previous purchases or online search histories.
- Automatically dispatch bespoke offers and deals via text or push to maximise value per customer.
In these ways, you can use location intelligence technology to analyse and leverage location data gathered in your venue, and you can make the customer experience more enjoyable and personalised.
This can persuade them to spend more on their current visit, as well as increase the likelihood of them returning in future. It also allows you to be more incisive with your marketing expenditure and logistical operations, enabling you to increase ROI across the board.
Once you have the hardware in place, all you need is some advanced location intelligence software to help you make sense of the data in the shortest time possible.
Optimise your in-store experience and increase value per customer by leveraging location data with Periscope®.