Every store is desperate to know how it can profit from big data, because we all know it could take them to the next level. It’s only a matter of time before we see it collide with a new technology that will change the way businesses work. Bluetooth beacons are only in their infancy now, but it’s obvious how stores across the world will be able to take advantage of them. First, let’s take a quick look at the kind of data stores will be able to collect.
Big Data from a Little Beacon
Customer Footprint
Once someone comes into a store the beacons will be able to track where they’re walking. It will know exactly where the bottlenecks are and the most popular routes people take.
Frequency of Visits
It will also know how often the customers are coming into the stores, but perhaps even more important is the amount of times they enter the store versus how often they buy something.
Know What They Want
It’s obvious the beacons can track what people buy, especially when they can be used for payments. What’s more interesting is knowing what kinds of products customers are thinking about buying.
How Stores Will Make More Money
There is a lot of other big data beacon technology will be able to pick up, but let’s focus on the ways stores will be able to make more money using some of the data we’ve looked at:
Offering Customers Coupons
Once stores know exactly what customers want they’ll be able to tailor the offers they push to them. It’s the same kind of thing as retargeting except it’s the offline alternative. If you’ve been looking at a product and someone sends you a coupon for it, you’re more likely to purchase the item. Stores will also be able to send offers out every so often instead of every time a customer walks in.
Helping Customers Find Products
Do you want to know another way to help your customers spend money without offering them discounts? Beacons will be able to direct them to wherever products are located, which means they won’t have to spend lots of time looking around for them. This will also help your staff members focus on their work without getting distracted, so they’ll get more done throughout the day.
Choosing Your Locations
You should know which products sell the most, but maybe you could sell even more of them. When you pick the place you’re going to display something it’s impossible to know if it will receive the attention it deserves. As soon as you know where customers are walking and stopping the data will tell you where the products should go. You’ll even be able to go deeper by looking at the data of different demographics before displaying your products.
Conversion Optimization at its Best
It’s very easy to optimize an online store, but when you are offline you don’t have the same opportunities due to the lack of data. Bluetooth beacons are going to begin bridging the gap to help you maximize profits. It’s unfortunate they’re only growing in popularity now, but it’s the perfect time to jump on it so don’t wait around any longer.
