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4 Retail Marketing Tricks You Can Get From Data Analytics

accounting analysis analytics 938963 - 4 Retail Marketing Tricks You Can Get From Data Analytics

It is a fact. New ideas can be difficult to find especially in desperate times. Retail marketer flounder at coming up with strategies to increase sales. Often times they resort to trying old methods which worked in previous campaigns. Of course they do not get the same results, if any. It’s one thing to be excited about the outcome of a marketing campaign but it’s another thing to know why that campaign was successful. In the real sense, marketers do fail to understand customer behaviour which can be the difference between a campaign that improves ROI and one that falls on its face.

Look at this scenario…

You are sitting at your desk in your office and going over revenue report sheets cringing at the decreasing numbers. You are wondering what you are doing wrong and how you can get those numbers to climb. Does that sound familiar? I bet it does. There are literally millions of retail marketers going through the same problem.

There is a solution…

Yes, there is. You can actually get ideas that turn those numbers back up and increase customer loyalty. And the solution is this – data analytics for retail business. Did you know you can collect invaluable customer data using Wi-Fi marketing and analytics platforms like SpotOn Wi-Fi? Now you do. This data will give the insight you need to create effective marketing campaigns that get results.

Retail (offline) businesses do not find it easy to get customers these days. And the one reason why this is so is online competition. For every offline retail store selling stationeries or footwear, there are thousands of online stores selling the same thing. They have the advantage of ease of purchase but you have the advantage of physical connection with the customers. With Wi-Fi marketing and analytics tools you can up your game by collecting and using customer data. Here are a few examples of the kinds of information you can collect using SpotOn Wi-Fi analytics software:

  1. Number of pedestrians that pass by your store;
  2. Number of these passers-by that enter your store;
  3. How many of them purchase an item;
  4. How many of them come back to buy again;
  5. How frequently they return to shop with you;
  6. What brands/models they purchase;
  7. How many of them spend more shopping and how many are thrift spenders;
  8. How many of them get enlisted into your mailing list and follow you on social media;
  9. And many more…

With all these data, you can easily spot where the lick is coming from and plug it. The data could reveal any of these common but nearly invisible problems:

  1. Lower number of people come into your store compared to the number of passers-by;
  2. You are having more browsers than buyers;
  3. Decreasing frequency of repeat buyers;
  4. Decrease in email signups;
  5. Little social media following.

The question now is how do you use the data you have collected to solve these problems? That’s simple. Here are four tricks you can use:

  1. Lure Customers In With Ad Signage

If 300 people walk by your store every day and only 5 come in to look around, you are doing something wrong. It means there is nothing drawing them in or getting their attention. How can you fix this? By simply putting a signage outside the door. But just putting a signage outside the door won’t work if the signage doesn’t give them a reason to go in. You could put up something like: Sales! Sales!! Sales!!! All items at 20% 60% off. Hurry while stock lasts!

Doing that would see you getting people in through the door who may want to take advantage of the discount. You also put a sign saying “Buy 2 Get 1 free”. The goal is to use your ad signage to give them a reason to come in and look around. After this, you can put the next trick into gear…

  1. Use E-Postcards To Send Out Discount

Everybody likes a little more for a little less. And that is why discounts always work when used properly. To get your loyal customers to come back and buy again, send them an email offering a discount on their next purchase. Or if they tried on, say, two pairs of sunglasses but bought one at the end of the day, you could send them a postcard in their email offering a discount on the pair they didn’t buy.

The data you collect using the Wi-Fi analytics tool include customer email and will tell you when a customer is a repeat buyer. This trick will help you increase repeat business.

  1. Offer Re-Stock Alerts

Some visitor may not make purchase because they didn’t find what they wanted. Or what they found didn’t fit, isn’t the right colour or their favourite brand. This happens mostly with first-time shoppers. To remedy this, offer to send them a re-stock alert. Your re-stock alert will let them know that you now have the exact item they were looking for. Here are 3 tips to turning one-time shopper into your customers forever.

You could even include a discount on the item to incentivize them to come back and buy from you.

  1. Encourage You Customers To Take Selfies In Your Store And Sign Up

In this day and time, it is nearly impossible to keep people from taking photos. Customers love to take selfies while they are shopping. And you should encourage it because you have a few things to gain from it. One of the benefits of this is free publicity. Your customer will definitely share those photos with their friends and family. They are also more likely to do that through social media than through email. To take advantage of this, put up your brand-specific hashtags in strategic positions in your store. You can have photos of your placed in front of thousands of people without any effort on your part.

Another benefit is the use of your in-store Wi-Fi to collect data. When visitors take selfies they will love to upload them online. If you have got in-store Wi-Fi, they would rather use that than burn their personal data. This way you can collect their email address through your Wi-Fi login page in exchange for internet access. Here’s how to maximize your login page.

To increase email sign ups, let your sales reps encourage customers verbally to sign up. If you have got an app, your visitors should be encouraged to download and use it. They would be more willing to download it using your free Wi-Fi than using their mobile data. You could offer them some incentive like store credit to encourage them to do these.

Every retail business is different in their wares and type of customers. But one thing is common amongst all of them – the value of customer information. This data, used properly, can give you an edge over your competitors to improve your sales.

So then, if you aren’t using a Wi-Fi marketing and analytics tool like SpotOn Wi-Fi, you are losing out on the opportunity to quadruple your ROI. To get started today, contact us and we will show you how our software can help your business grow. Our analytics platform is easy to use and collect vital customer data on autopilot. All data is displayed on an integrated and intuitive dashboard in formats that are simple to understand.

Curious much? You can request a free demo to see how it feels like.

Want to take action but don’t know where to start? You’re not alone. Leave your email below, and we’ll get in touch with you ASAP.

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