The plethora of data can be overwhelming. How can you find the ROI in your camera, beacon, and customer experience data assets? Try these three tips to get started.
Multi-unit businesses strive to gain a better understanding of what truly happens across their expansive network of locations. Being in-tune with the nuances at the location level can be the difference between the success or failure of a brand. Each location and each shift will either help or hurt in your quest for market dominance. To intimately understand performance we need answers to important questions. Questions like: Are staff interacting with customers? Are we managing queue times effectively? Are we seeing more or fewer customers walk through our doors? Are sales staff interacting with customers?
Market Force is working with more and more clients who are investing in digital stores as a part of theircustomer experience managementstrategy. They are using camera and beacon technology to collect information on customer counts, dwell time, number of customers in line, and time for sales associates to approach customers. In turn, this objective data is combined with customer experience data to get the subjective perspectives on the experience itself, for example,how effective the sales associate was in ascertaining needs and making good recommendations.
The plethora of data can be overwhelming. How can you find the ROI in your camera, beacon, and customer experience data assets? Try these three tips to get started:
In theretailspace, cameras count the number of customers who enter the store and the POS system shows the number of transactions. That conversion rate is a key metric—and will vary across locations. Use your customer experiencesurvey andmystery shoppingdata to explain the difference in conversion rates between your locations. Then set goals to drive improvements on what matters most.
In therestaurantindustry, focus on dwell line queues and how well staff greet and connect with customers. Focus on how to better engage staff and whether you have the right labor model to handle the queue and optimize transactions.
Embed a customer experience survey in your app. Ask customers about their experience while they are in the store, and marry those perceptions with your beacon technology tracking in-store movements. Market Force now provides asoftware development kitfor our survey technology to embed surveys in your app—and report on KnowledgeForce.
In a past post our CTO Ben Dards wrote about the importance of looking at customer behaviors not just opinions. Specifically he cited the following; “Cameras, beacons, and app integrations give you extremely insightful information into some operational measures, for example: dwell times, queue abandonment, and conversion rate. When you couple this behavioral data with customer perceptions, you will have powerful new insights into the customer experience and how you can take action.”
Technology is empowering us in new ways to get an affordable and continuous view of reality. We can now monitor behaviors and trigger instant alerts when necessary, while in the background we amass huge amounts of data. By combining a series of behavioral data with subjective measures, and tying it back to specific and quantifiable business outcomes, you can get to a clear ROI and create a plan of action that quickly improves your revenue and reduces your costs.
To learn more about how to create a Location Based Service strategy that leverages your camera or beacon technology, contact Market Force. Our senior strategists have the expertise to blend the right processes and technologies to create cost effective solutions for leveraging your data assets. We look forward to an exciting discussion!