With technology playing a large part in practically every aspect of a person’s life, it comes as no surprise that good technological knowledge and practices can make or break a business. When you think of the term “customer analytics,” you most likely think of big businesses with data banks and servers that hold the information of thousands, maybe even millions, of loyal customers.
Fortunately, this technology is not just for big business anymore. Small businesses can grow faster and stronger than ever before by implementing CRM tools that stem from the world’s widening reach of technology. Where brick and mortar stores were once left in the dust, new sensor technology and analytics tools are bringing advantages to these businesses once only reaped by big online retailers.
What Is Customer Analytics?
Customer analytics is the collection of data regarding what products consumers look at, purchase and want to buy. Customer analytics may include:
- Participation in loyalty programs
- Reviews or ratings left by customers, positive and negative.
- And blog or website clicks.
Think of every time you’ve ever browsed online or made a purchase. The data mined during your web session is useful customer analytics that help the company you are shopping with learn more about you as a shopper and potential repeat customer.
By keeping track of what customers are interested in online, online retailers learn how to predict behavior and create targeted marketing campaigns. They use customer analytics to create descriptions of a customer’s buying behaviors, predict how they will spend their money with their business in the future, and create new and improved marketing techniques, such as promotions, displays, and specials to make their customers want more of what they have to offer.
How Can You Use Big Data to Grow Your Small Brick and Mortar Business?
Until recently, brick and mortar stores haven’t had the luxury of access to the same sort of data that online retailers have. Advances in Wi-Fi and other sensor technologies have changed all of that. With one or more Wi-Fi access points installed in your store, you can gather a tremendous amount of customer information, whether your customers use your Wi-Fi or not.
Simply bringing a Wi-Fi equipped device into your location is enough to tell you that someone was there, how long they stayed, and if they had ever visited your store before. Advanced platforms such as Bloom Intelligence provide meaningful insights such as Popular Visit Times, your First Time Visitor Rate, and your Average Customer Repeat Rate.
These real-world applications of customer analytics give you more visibility into customer behavior than you ever had before.
Are These Tools Good for Your Type of Business?
There’s a reason some of the biggest corporations in the world rely heavily on customer analytics to tap into their customers’ often complex personal shopping habits. Large companies, such as Starbucks, McDonald’s, and Gold’s Gym all track behaviors to help customers make their next purchase. Why? Because it works for any business, no matter how big or small, and no matter what it offers.
Whether your business specializes in services, tangible products, or food and drink, there is a way to make customer analytics work for you. If you’ve always wanted to know what your customers want in the here and now, while they are in your store using your Wi-Fi, it’s time for you to take advantage of customer analytics tools.
What Can You Do With This Valuable Data?
Small businesses are feeling the financial crunch of clients looking for online solutions to their every want and need It is important for you to use your online presence to show customers you have what they want outside of the virtual world. Customer analytics will help you to make this a reality.
Using customer analytics tools can help you mine data that will allow you to:
- Understand how your customers shop and how you can better serve them now and in the future.
- Learn to better introduce promotions and deals to offer in-store to customers using your Wi-Fi, to boost sales while they use the web services.
- Provide you with information you can use to make your web pages and landing page attractive and lucrative.
- Use the marketing techniques that you thought were only for big businesses.
Take the next step towards using big business tools to grow your small business. It’s easy when you put access to a reliable Wi-Fi network at the fingertips of all your valued customers. Learn more about how customer analytics can help you change the way you do business both online and offline, and increase your valuable in-store sales with the same tools and techniques used by online retailers.
Robin C. Johnston is Chief Operating Officer for Bloom Intelligence. Bloom Intelligence deploys Wi-Fi and other sensors to measure the health of brick and mortar chain locations and provide actionable business intelligence. Underperforming key performance indicators trigger automated marketing tools to improve business performance. You can contact Robin at [email protected].