What the Big Difference between Quick Win 5% ROI & Sales-Booster Location Analytics Solution … and a commodity-priced tech that barely covers costs?
If you guessed “100% Accuracy” counting solution… you’d be wrong.
If you guessed WiFi Tracking that detects traffic in & out the store, inside the store, and in proximity to the store…you’d be wrong.
If you guessed Vision Analytics that self-learns how to track people, and recognizes facial bio-metrics & emotions…you’d be wrong.
While all these people tracking technologies have their place
They are only part of the equation
Unless you’ve ENGINEERED your team to work with the data, seek context, and know how to ask “correct” questions…
The impact and income you’re working tirelessly to scale will at best come at the expense of your sleep levels…
… and at worst, erupt into flames as you constantly flirt with an unrelenting sense of burnout.
AND EVEN YOU NOW HAVE THE ABILITY TO…
… Sell your tracking technology and generate fast cash from retailers & mall owners who want to monitor their traffic and sales conversion
… Position your business as a trusted provider of tracking technology & services for your channel partners and customers
… Brand yourself as an open mindset professional who leads your colleagues and clients during these tremulous times in retail
NOTHING WORKED AS PLANNED.
>>> Your company spent years building a solution only to find out that retailers don’t care. They have tons of other projects in the priority pipeline and footfall traffic is just ‘more data’
>>> Your company spent much energy and much money on technology expertise, improving accuracy, and designing dashboards. When the pilot is finally running, both the retailer and you are buffed on how to make the data more ‘actionable’.
>>> You are in charge, and your team, and your customers, are looking at you for the answers. You know in your heart that location-based solutions are in a ‘hot market’ but you feel stumped when asked why. Your customers look at the traffic data, and your nightmare becomes a reality when they say – So What?
What would happen if your retailers see Anonymous Location Analytics as a MUST-HAVE?
“Ronny was very helpful in guiding us through the learning of how to leverage traffic counting metrics into our retail business. She is very knowledgeable with both the technologies and business analytics used to leverage customer traffic counting systems to assist in labor scheduling, product placement and customer behavior. These customer insights resulted in business changes that delivered significant ROI and improved overall customer service”
- Butch Jagoda, V.P. Information Technology at Helzberg Diamonds
Here’s the challenge:
In the survey "Location Analytics in Retail: New Data, New Opportunities" by RSR Research:
“Even at the highest levels, retailers don’t really understand either the rewards or the risks associated with anonymous vs. non-anonymous customer Geo-Location data.”
"90% of retailers consider anonymous location data as “IMPORTANT” for measuring Customer Traffic in around the store."
3 Profit-Killing Myths on Anonymous Location Analytics You Need to Break if You Want to AVOID being trapped in Price Wars
1. “Advanced Technology” cures all
Advanced Technology is sexy. If you saw Vision Analytics, Facial Bio Metrics, or Sentiment Analytics in action, the WOW is seducing.
But in Location Analysis, the only thing we care about is location & time data. It does not matter what else the technology does or not. The objective of Location Intelligence is to understand demand & sales opportunities.
The trick is…as long as your technology generates the “correct” metrics in a way that retailers understand – your location-based data will provide context about the sales potential for that physical store.
2. Your solution must have 100% Accuracy
Newsflash: Every technology has a place in the retailer’s universe.
First and foremost, Good Enough Accuracy has guidelines. And if you understand the Best Practices of Audits and how to design Proof of Concept, you can easily go behind colorful statements such as “Bullet Proof 100%”.
The trick is...master projects in people tracking solutions with knowing how to adapt your technology to the client’s business objective.
3. Your solution must capture the Customer’s Identity
Here’s the "hard truth" – most retailers don’t have the infrastructure, talent and processes to handle Personalization with Location Marketing.
More important, you can achieve significant improvements in targeting just by measuring, and segmenting, the store’s footfall traffic.
The trick is...cultivate data-driven decisions as an integrated part of your location intelligence solution.
If you think that building anonymous location-based solution is wasting your time & resources, you are selling it & yourself wrong.
When you position People Tracking as Business Intelligence for Physical Stores, you’ll finally…
Ronny Max is Principal of Silicon Waves Agency and Founder of
Behavior Analytics Academy. Ronny worked with over 200 retailers, solution providers, and others
on optimization & customer's journey projects for Physical Stores. Silicon Waves provides executive advisory and consulting
expertise on People Tracking Technologies. In 2015, Ronny served as the retail
expert in Stanford University Vision Project. In 2017, Behavior Analytics
Academy is born. The Academy provides online courses and live sessions on Analytics of Conversions & Profit.
The Location Analysis is built not only for professional analysts…
...But for technology startups, marketing agencies, retail managers, and...
... ANYONE who stands to benefit from nailing down the benefits from location-based data and with more genuine impact
"I have worked with Ronny for many years. She is deeply knowledgeable about the Retail Analytics industry. Her insights have been invaluable. She is easy to work with – highly responsive and highly pro-active. I strongly recommend Ronny."
- Christopher Ainsley, CEO ShopperTrak
3 Ways the Location Analysis will help you go from ZERO to EFFECTIVE in Anonymous Location Intelligence
5 Core Modules that introduce in detail the theory behind Anonymous Location Data.
2 Tutorial Modules that show how to analyze stores location-based data (200 stores database in Tableau), and display case studies from the field.
You’ll learn how to identify Quick Wins that reduce costs & generate sales.
Certification which you can showcase your boss, customers, and, most important, for yourself. The do-it-yourself is the best way to hard-wire the learning process and turn you into a sales generator instead of a payroll point.
You’re ready to Generate Quick Win ROI if...
1. You’re just getting started with retail, and want to make sure you absolutely NAIL IT right out of the gate by using the most effective metric frameworks.
2. You’ve been trying to sustain your startup for months (or even years), but have not attracted the business you were hoping for … and the retailers are mostly penny-pinching your solution.
3. You already KNOW who your retail market: Sure, you may make some small tweaks as you go through the Location Analysis… but for the most part you know who you’re serving, and have a good idea how you want to serve them.
4. You have no problem investing a couple hours per week as long as you know that every bit of energy you invest is a strategic and meaningful step forward in owning a profitable, and consistently-growing relationship with retailers.
5. In fact, you’re ALREADY investing time and energy doing things like working with store managers, writing product sheets, and creating countless PowerPoint presentations. The Only problem is, without a clear framework that ties the metrics to action, you’ve experienced nothing but a discouraging “So What?” followed by a crippling overwhelm around what to do next.
6. You care about what’s working in 2018 and beyond: You get the “fear factor” when other companies start dishing out media-hyped new technologies, and your retailer start complaining why you don’t have the Next Big Thing. That’s why you appreciate how Location Analytics teaches you to use the most effective ways to work with the metrics. Moreover you know how to position Anonymous Location Analytics within the disruption in retail.
By now, you already know that the biggest difference between mission-critical solutions and commodity-priced sensors is treating Location-Based data as intelligence gathering for customer demand & sales opportunities
If you are a business owner whose primary responsibility is to POSITION your company & your people tracking technology & your location analytics solution… you need 10x Location Analysis
If you are a retail analyst or thinking about hiring ONE team member in a professional services capacity to help your retailers maximize the business benefits from footfall traffic, sales conversion & mall analytics… you need 10x Location Analysis
If you are a salesperson who still negotiates with retailers in a price-war mentality, or woken up at least one morning this quarter in “panic mode” having to put out the fire set by your team… you need 10x Location Analysis
10x Location Analysis will give you is the proven method to make your customers see you as a valuable partner