Taking lessons from ecommerce can help you increase impact, reduce costs and save you time
Businesses are discovering that data can be one of their most valuable assets, and this data can have a direct impact on the business’ bottom line when used to measure and evaluate things such as marketing campaigns, consumer engagement and return on investment. Whilst this kind of data-driven evaluation has become an essential part of managing online or ecommerce businesses, the more traditional, brick and mortar businesses have struggled with data blindness. Until now…
For some time, the in-venue analysis went as far as EPOS sales data and footfall counting (using laser or camera systems), however, the recent development of WiFi Analytics is shaking up the market and levelling the data playing field between ecommerce and traditional brick and mortar businesses.
Aside from measuring consumer behaviour in-store with KPIs such as street-to-store conversion, new vs returning visitors and dwell time, one of the fastest growing use cases for WiFi Analytics is A/B testing.
Does this sound familiar?
Have you had successful marketing campaigns in the past, but when you try to replicate them, you haven’t seen the same great results? Have you ever noticed that your campaign seemed to boost sales in some of your facilities more than others? Have you ever noticed a spike or fall in sales that coincided with when you changed window displays?
Measuring, evaluating and optimising using A/B testing can help you better understand how consumers react to your campaigns, and with WiFi Analytics, you can now measure this reaction in-venue, as well as online. Ultimately, A/B testing will make your campaigns more efficient – increasing ROI, whilst saving you both time and money.
A/B testing is used to compare the effectiveness of two or more versions of a campaigns aiming for the same result; the results then highlight which version works best. Almost anything can be A/B tested, from social media display ads and email campaigns, to window displays and in-venue signage.
Capitalise on your existing infrastructure
The introduction of WiFi Analytics has enabled organisations to have access to metrics and insights needed to improve venue layouts, operations, product offerings and more. Despite this, there are still very few using A/B testing when developing their brand engagement strategies – even though many have the capability to do so. This presents a fantastic opportunity for more efficient business development and significant competitive advantage.
Today, WiFi networks are already in place in most venues, and is the most versatile technology for modern in-venue analytics. With this infrastructure in place, WiFi Analytics can be set up with no capital expenditure, no site visits and no messy installations – an entire global network of venues could be set up within hours.
By using controlled A/B tests to gather empirical data such as changes in footfall, linger times and street-to-store conversion rate, you can quickly and easily evaluate, gaining actionable insight into which marketing campaigns work best. This evaluation allows you to improve brand engagement efficiently, whilst increasing ROI and saving you time. Spotting previously hidden patterns also enables you to tap into your customers’ journey, allowing you to personalise their experience and boost brand loyalty.
You’ve got to measure to manage
When it comes to A/B testing, it’s important to test the variables that are most likely to have a big impact, and with marketing being one of the biggest expenditures of any business, this is a great place to start. Getting fast feedback on what works and what doesn’t will help you reach business objectives more quickly and save you money.
Successfully developing your brand by implementing proactive strategies will differentiate you from your competitors and help you grow with a loyal customer base, edging you closer towards the ultimate product-market fit.
You cannot efficiently manage that which you don’t measure.
For more information, no-obligation advise or any questions regarding WiFi Analytics, Guest WiFi and WiFi Marketing, get in touch with the Presence Orb team today.