With the advancement of retail analytic tools, retailers are gaining better insights into their consumers’ behaviour, which have led them to better cater to customers’ needs.
Chris Day, Managing Director of Moving Tactics said, ‘Providing the customer with the correct marketing message at the right time is vital to cut through the retail clutter. The value for the customer will be a dynamic shopping experience that is more bespoke to their exacting requirements.’
Four of the most important learnings that have been incorporated into South Africa’s retail analytics market from international analytics experts are:
1. Volume (Quantity)
Instead of shoving your entire product list onto your in-store digital signage displays, identify specific products that have upsell potential at certain times of the day, called day-parting, or that complement one another, such as ready-made soups and bread. Also, high dwell time in certain product areas may mean that customers have not made up their minds on which product to buy as yet, this makes it an ideal area in which to focus on providing information and content to support their buying decisions by offering them product solutions.
2. Variety (Sources/Types)
There is much evidence to support the effectiveness of day-parting on the bottom line, so take a look at your store and see if you have different types of people coming through your stores at different times of the day, then cater to them. For instance, stay at home moms might do their grocery shopping between 9am and 2pm when their kids are at school. Use that time to promote family products. During evening times when people are popping in after work, promote convenience products such as ready-to-eat dinners.
3. Velocity (Speed)
This will depend on the area where your digital signage is placed in-store. For example, if your screen is located at the entrance to your store, customers will usually only have time to glance at the screen, therefore, this specific content needs to be conveyed very quickly with the help of ‘call to action’ messaging to ensure convergence into the store. If the screens are located at the front of a pay point queue, you may have much more time to engage. This time is valuable and gives you the ideal opportunity for your brand to engage with the customer via campaigns that will have customer input eg. social media, customer feedback or competitions.
4. Veracity (Accuracy)
Targeting your customer at the right time and place is crucial. Retail analytics tools help identify high traffic and dwell areas that help maximise the reach of in-store signage. It also enables store owners and retailers to make better informed layout or content changes eg. heat maps show the path customers take from the bread shelves to the tills, retailers then place complementary items throughout this specific customer journey, such as marmalades and chocolate spreads.