How to Grow Your ROI Using Customer Profiles: For Restaurants and Retail Businesses

Measuring ROI market research 1024x538 - How to Grow Your ROI Using Customer Profiles: For Restaurants and Retail Businesses

For offline businesses, information is hard to come by. It has always been pretty difficult for restaurants and retail businesses to measure the impact of their offline or online marketing. Online businesses have had it way better. The internet makes it easy for them to collect, store, and use customer data. And for years they have had the upper hand in this regard.

But this has changed…

Restaurants and retail businesses now have a tool that gives them the ability to collect as much information as they need. This tool is the Wi-Fi analytics and marketing software. With it they can do cool things like customer profiling and segmentation, email marketing, customer retargeting, and more. This data can also be used to significantly ramp up returns on investment.

Before the advent of Wi-Fi analytics softwares, restaurants and retail businesses had to spend lots of money on procuring marketing data. Marketing companies used to make money off brick n’ mortar stores to provide accurate customer data.

There were two major problems…

  1. The data they provided was only a slice off the entire chunk of data. Retail businesses had to pay more if they wanted more data.
  2. They could only provide information from a small sample size of the business’ entire customer pool.

The good thing is, Wi-Fi analytics and marketing platforms take care of these two problems and more. With them restaurants and retail businesses collect information in real-time. They can also create customer profiles that are both detailed and accurate. And this at a fraction of the cost of procuring customer data from marketing companies.

Now that offline businesses have the ability to create accurate customer profiles, they can make better marketing decisions. They can target specific customer segments and communicate with them on a personal basis. This can be used to increase purchases, strengthen customer loyalty, and improve ROI.

Here’s how…

You Can Turn Customer Profile into More Revenue

Your marketing strategy and outcomes can change dramatically when you know your customers. As you collect customer data, your marketing communications become clearer. This is because your customers would be segmented and targeted using the data points used to segment them. Your messages make more sense to them; is more engaging; and will cause them to take desired actions such as making purchases.

Amongst other things, here are few abilities customer profiling gives you:

  • Measure the value of each customer and know how to market to them.
  • Create new segments of customers based on parameters you may not have previously considered.
  • Create news products, services, menu items (for restaurants), promos, offers, etc
  • Measure ROI and tailor marketing efforts for each customer segment.

These abilities, when used rightly, would see you increase in your per-customer averages and lifetime values, have your business locations teem with paying customers, and in the end, make more money.

By the way, you should check out these 5 tips to use email segmentation to personalize your customer experience.

Next…

You Can Multiply Results Using Personalized Messaging

Detailed customer profiles created using Wi-Fi marketing platforms makes personalized marketing campaigns easy to develop, measure, and maintain. You can communicate directly with your customers using data points such as location, age, gender, frequency of visits, number of purchases made, and other demographic and psychographic information. A study by The Direct Marketing Association showed that 77% of return on investment comes from segmented, targeted, and triggered marketing campaign.

And then…

You Can Save On Costs

Compared to purchasing customer data from traditional marketing companies, building customer profile using Wi-Fi analytics software is less expensive. Because not only would you pay for small chunks of data per time, you will also pay for ads. Marketing done using customer profiles costs 10% (or less) of the cost of traditional advertising, studies have shown.

For example, if traditional advertising costs $100, target marketing would cost just $10. And the amazing thing about personalized marketing campaigns is that it yields more result than tradition advertising.

Tradition advertising is usually time and energy consuming, and uses crude methods to collect information. This is makes it difficult to reconcile all the data collected and leads to inaccurate or inadequate data. However, collecting customer information using Wi-Fi platforms like SpotOn Wi-Fi is easy. It is not overselling it to say that it is basically plug n’ play. Customer data is garnered on autopilot with little or no human effort.

The data garnered can be accessed with a few clicks from any digital device and is easy to analyse. They are displayed on a dashboard that is robust and intuitive. You do not need to spend money hiring a large team of marketers to interpret the data. Because they are displayed in formats that make them easy to understand by just about anyone.

And so the bottom line here is the less you get to spend on traditional marketing, the more you get to keep as profits.

Finally…

You can see that building a customer profile can help you boost your ROI. It enables you to generate more revenue, multiply your marketing results, and save cost on advertising. You can garner valuable visitor data with your Wi-Fi system just by integrating it with a Wi-Fi analytics & marketing platform like ours. Contact us for more details about how our Wi-Fi technology can help you grow your ROI.

 

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