Have you ever spent a huge amount of money on a marketing campaign that yielded no results? Any marketer who has sank thousands or millions of dollars into bulk email/distribution lists, or mailers that did not improve sales, get new clients, or generate new leads, knows first-hand how valuable marketing funds are. If you are a newbie marketer, you will do well to do your homework before running a campaign in order not to make the same mistake.
To be successful as a marketer, you must be able to tell where and how to spend your marketing budget to yield the most result. The same way business managers need to know how to efficiently spend their resources to make the most impact on their business. It takes some time to master the ability to properly coordinate your business operations to perfectly align with your marketing efforts. Many business owners still haven’t found the balance between the two.
Over the years, marketers for brick n’ mortar businesses have had to make do with what they could find in terms of information. While online stores have had it easy reaching out to customers without being restricted by location, offline business could only communicate with customers when they visited the store or restaurant.
And because of this limitation, offline businesses have faced problems such as:
- Paying for staff they do not need,
- Under-staffing during a sudden surge in customer traffic, leading to poor service and negative reviews,
- Organizing events or promotional campaigns that yield zero results in terms of sales. Perhaps because they focused on the wrong customer, scheduled at the wrong time or on the wrong day, or perhaps it wasn’t in line with the customers’ preferences.
These problems ultimately result in waste of resources, negative online reviews, loss of customers, and demoralization of staffs. This would not be the case if businesses understood their customers better.
To understand your customers better, you need the right amount of data. To get the right amount of accurate data, you need the right tool. Online businesses have had the upper hand because their platform makes it easy for them to collect, store, and use customer data.
But things have changed…
Thanks to the advent of Wi-Fi analytics and marketing tools, brick n’ mortar businesses can now enjoy the same privileges as their online counterparts. With Wi-Fi analytics, retail and restaurant businesses can now collect customer data and make on-going assessment about their customers in real time. This includes their buying behaviour, their preferences, and who they are.
Knowing more about your customers helps you design products and marketing campaign that are relevant to them. This way, you cut down on waste and improve sales.
Lets’ look at the 5 major insights Wi-Fi analytics provides about your customers.
- Who Your Customers Are
With Wi-Fi analytics, you can collect demographic data of your customers. Data such as age, location, gender, social status, occupation, social media engagements, interests, and more, will help you know who your customers are. Knowing who they are will make your communication with them more effective.
You could segment them using the demographic data and communicate with each segment differently. Read more about customer segmentation here.
- When Will They Show Up?
If you do not know when your customers will show up, you cannot prepare for them. Many managers make use of sales receipts to try to project when they have the highest traffic. Wi-Fi analytics makes this process easier. With it, you can know how many customers visited on a certain day, when they visited, how long they stayed, and when they left. You can’t know all that using sales receipts, can you? Wi-Fi analytics also helps you know your period of highest and lowest foot traffic. Armed with this data, you can adequately hire staffs to deal with the demand in peak periods.
- How Engaged Are They with Your Brand?
Do you know how long your customers stay in your store/restaurant? An engaged customer will spend ample time with and will interact with your brand. Wi-Fi analytics can let you know how long customers spend in certain sections of your shop or restaurant. This will help you make smarter stocking decisions.
In addition to that, Wi-Fi analytics will let you see how much purchase your customers make while they were in your store. If they stayed a long while and spent little, you may need to incentivize them with discounts to make them spend more on their next visit.
- How Many New Customers You Get
You may not be able to tell your first-time customers from your regular customers, except you run a very small business with less than 20 customers. Wi-Fi analytics helps you separate your first-time customers from your repeat customers. Whenever you run a marketing campaign, the ratio of repeat customers to first-time customers shows how many new customers your marketing efforts brought you.
Knowing your first-time customers, you can target them specifically with messages welcoming them, asking for feedback on their experience, and perhaps, offering incentives on their next visit to convert them to repeat customers.
- How Loyal Your Regular Customers Are
Wi-Fi analytics provides insight on how loyal your regular customers are. It does this by providing data on how long ago they last visited, what the frequency of their visit currently is as compared to earlier periods, and how much have spent at your store in recent times.
This information allows you to design marketing campaigns that can influence their visit frequency and/or increase their spend-per-visit.
Even though you know so much about your customers, Wi-Fi analytics makes organizing and using that information easier and more efficient. All insights provided by Wi-Fi analytics are gathered on autopilot and in real-time, giving you the ability to make analysis, predictions, and changes promptly.
Want to see how these insights are gathered and represented? Request a free demo. Our intuitive dashboard makes data ease to understand and use.POSTED ON August 14, 2019