Beacon use is set to explode - the ability to target offers to customers when they're in range is a potential game-changer for bricks & mortar retailers. Here's our top 5 reasons you need to care about beacon technology:
When you get to know your customers better you become more relevant
Beacons allow retailers to know how frequently individual customers visit their store and understand what parts of the store they spend the most time in. For example, a hardware store can identify frequent customers who like gardening and communicate relevant information with them based on this interest.
Increased usage of your mobile app increases spend
International retailers report that customers using their mobile app in store spend more than other customers. Beacons can be used to trigger a message that reminds customers to open their app when they enter the store. This can significantly increase the average transaction value.
Better customer engagement levels means higher conversion rates
Retailers can use beacons to engage customers with content that helps them along the purchase cycle. This could include product reviews, recommendations and videos that help convert potential buyers.
Influencing customer behavior increases their lifetime value
Messages triggered by beacons can be effective at changing customer behavior. Someone who comes in for coffee every morning can be presented with lunchtime deals in an effort to expand the categories they purchase thus making them a more valuable customer.
Focusing on staff training increases sales
Beacons can be used to trigger staff messages designed to improve product knowledge and selling techniques. A retailer like Farmers can target staff with messages that link to videos showing the best way to sell different categories of merchandise.