It’s not easy being a brick-and-mortar in the age of digital transformation. With more and more customers making their purchases from the comfort of their own homes, retailers have to find new ways of innovating to enhance the shopper experience. At a time when customer expectations are soaring to new heights and shoppers are more digitally fluent, delivering an even more personalized touch is no longer an option – it’s simply a must.
In today’s technology-driven landscape, the influence of emerging technologies infused in the IoT ecosystem continues to permeate the retail industry. As some retailers continue to struggle with making personal connections with their customers, many are now turning to beacon technology for one important reason: to get an interactive visualization of the buyer’s journey from the vantage point of the customer. From becoming the new tool for engaging mobile purchasers to enabling apps to deliver a fluid, seamless shopping experience at every touchpoint, beacons have been creating a buzz by bridging the gap between the online and physical storefront.
Beacons create innovative ways to “digitize’ a physical retail space in the quest for unpatrolled personalization. Driven by smartphones, beacon technology allows the potential for increased tracking of individual customer actions for the purpose of uncovering consumer insights to drive retail decisions. Studies show that 80% of shoppers use their mobile phone inside of a physical store to look up products, compare prices and find alternative store locations. Neiman Marcus, the higher-end retail chain, leveraged beacons to promote in-store events like trunk shows, guest designers, book signings, and more. By harnessing the power of informed interactions, retailers keeping up with these trends increase their chances of getting ahead of targeted competitors.
So what does beacon technology mean for your business and why does it matter? Here are three reasons why beacon technology is essential to deliver the personal touch your customers desire and need.
Beacons enrich engagement. Enabled by Bluetooth capabilities and working in concert with a compatible app, beacons activate the customer’s mobile devices to pinpoint location accuracy. Say a shopper is walking by your store. Once a customer enters the premises, retailers can use beacons to push tailored notifications with special offers via the app. In addition, beacons allow for a deeper understanding of your buyer’s habits, giving you access to shopping lists and wish lists, and therefore helping them locate items in-store.
Beacons are a valuable source of big data. Providing an endless opportunity to collect massive amounts of customer-centric data, beacons give retailers an edge by collecting specific information from how long a consumer was in a particular location to the frequency of visits, behaviors, and transaction patterns. This data allows retailers to make improvements to products and service, and ultimately, generating desired revenue as a result of customer satisfaction.
Beacons allow you to learn more about your customer. If a shopper enters your store and leaves empty handed, most of the time it’s because you failed to identify exactly what they are looking for. Activating beacon technology allows retailers to recognize, reward and interact with customers in a personalized way, thus increasing loyalty over time. Learning who they are and what they want is better for retailers and customers alike.
Beacon technology is a thing of the present and future. By combining the influence of turn-by-turn consumer interactions and big data, this evolving technology allows you to optimize the shopper experience through personalization. How will you incorporate beacons into your customer experience strategy?
At a time when customer expectations are soaring to new heights and shoppers are more digitally fluent, delivering an even more personalized touch is no longer an option – it’s simply a must.