Beacon Technology for Retail Programs | Tailoring Messages at Store Level

Source    :insights.samsung
By        : Deena M. Amato-Mccoy

Category  : Beacon Technology Nepal, Beacon in Retails

BEACON TECHNOLOGY FOR RETAIL PROGRAMS: TAILORING MESSAGES AT STORE LEVEL

Personalization is the key to driving loyalty, yet retailers still struggle to make a one-on-one connection with their most valuable store-level shoppers. The addition of beacon technology for retail programs is changing this paradigm by driving a new level of customer engagement through personalization — a move that creates a valuable loyalty proposition in an omnichannel retail model.

In-store personalization has been a longtime goal for retailers industry-wide. While progress has been made, efforts often still miss the mark. According to research from beacon marketing platform provider Swirl Networks presented by FierceRetail, only 25 percent of consumers believe that brick-and-mortar retailers regularly demonstrate an understanding of their individual preferences.

This indicates that while retailers are eager to earn shoppers’ loyalty, the inability to connect with shoppers on an individual level makes it difficult for brands to close the communication gap. It’s exactly this dilemma that makes beacon technology such a powerful option. However, there are a number of steps to take before getting a beacon program underway.

Delving into Data

As consumers’ infatuation with mobile solutions continues to rise, customer engagement — and personalization — is attracting renewed focus. But focusing on devices alone will not be enough to keep brands a step ahead of the competition. The clear winners will be those retailers that can truly understand their customers’ needs, and use these insights (via messages) to drive value throughout their purchase journeys.

As retailers decipher how to connect with shoppers while they’re making purchase decisions, more are eager to harness the power of consumer smartphones. Within five years, 53 percent of retailers plan to begin identifying customers via smartphones when they walk into the store — this is a significant jump from the six percent of companies currently utilizing this technology, as discussed in a session conducted by Boston Retail Partners at Shop.org’s 2015 Digital Summit in Philadelphia.

With a plan in place, retailers must determine how to create more specific, targeted messages that not only increase levels of customer engagement but also deliver a call to action to the shopper. By leveraging collected shopper data, retailers are laying the groundwork for the next stage of personalization. In fact, 22 percent of consumers are happy to share some data in return for a more personalized customer service or product, according to a 2015 report from Deloitte. Once this information is in hand, retailers can jump-start personalization efforts with beacon technology.

Harnessing the Power of Beacons

At the size of a quarter, beacons are low-power, microlocation gadgets that use Bluetooth technology to transmit signals to mobile devices. By combining the technology with smart devices’ integrated geolocation technology, retailers can use beacons to deliver real-time, one-to-one personalized digital service to shoppers as they navigate through store aisles or promotional displays.

Beacons are such a powerful engagement tool that 70 percent of companies plan to add the functionality over the next five years, according to data shared during Boston Retail Partners’ session.

Unwilling to wait, GameStop is already exploring the power of beacons. In September 2014, GameStop added up to 14 beacons at approximately 40 locations across its test markets in Austin and College Station, Texas, according to a company statement. Deployed in dedicated store zones separated by product categories, the beacons require shoppers to move smartphones close to devices installed on store shelving. The technology delivers shoppers real-time, customized offers via the retailer’s app.

“Digitization of the physical retail space has always been a top priority of GTI,” says Charlie Larkin, senior director of technology innovation at GameStop, in the press release. “Learning from our initial deployment of the iBeacon platform, there are numerous ways to leverage the emerging technology to deliver a next-generation shopping experience.”

As customer loyalty becomes increasingly hard to cultivate in an omnichannel world, retailers need to find a new way to connect with shoppers. By using beacon technology for retail to personalize the shopping experience, brick-and-mortar stores are driving customer engagement to turn shoppers into loyal brand advocates.

(Read More : insights.samsung.com/2016/01/25/beacon-technology-for-retail-programs-tailoring-messages-at-store-level/)

Beacon Technology Nepal | Five Ways Beacon Technology Will Transform Retail

Source    :cxotoday
By        :  Krishna Prasad
Category  : Beacon Technology Nepal, Beacon in retails

It felt like every aspect of our lives, especially retail, went online while brick and mortar stores suffered. But interestingly, although it may seem like all things moved digital, it is important to keep in mind that only 10% of most retailers are online.

Since most stores still work offline, an extremely unique opportunity presents itself.  Instead of online and offline competing against each other, they can work together to emerge as a powerful combination. It is easy to understand how people would think that online and offline would be a threat to one another but, if combined, they actually bring the consumer and retailer together like never before, enhancing the overall experience of retail.

Retailers are quickly finding out that technology can help their consumers discover products in a more in-depth manner. This creates consumer experiences that adapt with ever changing consumer behaviors and trends.

This is where beacons come in. Beacons are small, battery-operated, low-cost, wireless devices that continuously convey a simple low-energy Bluetooth signal.  According to IDC, the installed base of the IoT will be 212 billion devices by 2020, which will include 30 billion connected “things”. This is similar to other estimates by research organizations like Gartner. Gartner points out that in 2009 there were 2.5 billion connected devices. By 2020, there will be more than 30 billion in a variety of shapes and forms.

The signals emitted by beacons can be picked up by Apps on smartphones. The actions beacons can perform based on location, time and proximity are endless. They have the power to transform the way we live our lives. Here are five ways in which beacon technology will change retail in the coming year.

1. Beacons allow retailers to get a complete profile of their consumers.  

Beacons have the ability to single out potential customers. They will identify the customer and send personalized messages inviting them to the store based on collected data. This data helps retailers understand the consumer and their buying patterns and preferences. Beacons connect to the consumer’s personal device, customize messages, and connect with the consumer on a more personal level.

2. Timing, timing, timing!

Beacons push personalized deals and promotions just in time to impact sales in an enormous way. Through location based technology, the beacon can assess when the consumer is in the area and more importantly, near the store. It will send targeted, timely messages of deals that are occurring at that moment straight to the customer’s mobile device, the impact of real time messaging is huge.

3. Establishing a more fulfilling customer experience

Retailers have noticed that IoT can greatly improve customer experiences. Specifically, retailers are using IoT to pull consumers and provide them with products that have been contextualized and personalized for the customers’ gratification, according to IDC.

Retailers are not only looking at new ways to send out more personalized connections but also seek to use the influx of data to their advantage. This data can transform how retailers view their customers. It gives them new and important insights into buying habits and allows them to create a more unique experience for each and every consumer. In this way, consumers will also expect their conversations with the retailer to be unique to their needs and situations.

4. Enhancing customer engagement and therefore, driving customer loyalty

Customer demand for product availability, convenience, and personalized messages will be the main driver for retailers to adopt IoT in coming year.

There are huge opportunities to be gained when devices can gather data, present and utilize real-time information in meaningful, useful ways. Retailers become more flexible because the information and insights they need are readily available.

Marketing and merchandising habits of retailers will change based on the needs of the buyer. Beacons, when synced to a merchant’s app, can provide visual heat maps that show moving patterns of customers around the stores, it can access search trends and other insights that help merchants fully understand their customer.

5. Interactive in-store experiences

When customers walk into stores, they are undoubtedly overwhelmed by the number of products, long aisles, multiple floors and inefficient support staff. It is something we have all faced. We go in with the intention of buying something but come out completely frustrated and dazed.

Beacons will change the way we walk through stores. They have the ability to help consumers find products quickly, recommend products based on location, and provide personalized preferences as users walk around. They can drive discovery, simplify and ease checkout processes, and reduce waiting lines with digital payments and receipts.


(Read More : cxotoday.com/story/five-ways-beacon-technology-will-transform-retail/ )