Indoor Analytics: Pure ROI
indoo.rs at E-tailment Wien
On the 23rd Feb our Project Manager Florian Freitag gave a talk under the topic “Beaconize it”. Here he talked about the benefits of Indoor Navigation and how Indoor Analytics enable a deeper level understanding of visitors.
Those of you familiar with E-tailment will know that it is a conference based around Google Analytics, which as all our readers know is a web based analytics platform. That leaves the obvious question…
What are indoo.rs doing at a web analytics conference
Well, 2016 is the year where the online and offline worlds are able compete against one another for analytical understanding of their visitor/customers. Indoor Navigation and proximity installations are really taking off, and it is giving retailers, museums etc the opportunity to understand their customer/visitor habits like never before. This is why not only did we send Florian to hold a presentation with our partner NOUS guide, but we had our top analytics researcher, Marko Mlinaric, attending the event as well.
“Micro-Location and Analytics: Practical examples from retail and museums”
How will indoor analytics improve ROI
Understanding your customers and their behavior is and always has been key to offering the best value. Best value can be either in a monetary advantage for the customer or through an improved visitor experience.
Customer acquisition vs. Customer retention/upselling is 5 to 1 ratio in terms of costs and when thinking about that using analytics and optimizing the retention of customers is makes total scene and has been an advantage the online world has had for many years.
Though in its infancy, indoor (Bricks & Mortar) analytics is about to equal out the playing field.
What are some Indoor Analytics
Direction of movements
Turn each department or separate area in your location into a page and find out how your visitors are moving around your store, make suggestions based upon their frequently bought items, accompany them on their journey and add to their user experience.
The technical term is Telemetry.
Telemetry is an automated communications process by which measurements are made and other data collected at remote or inaccessible points and transmitted to receiving equipment for monitoring.
This means that customer interaction with their physical environment can lead to greater insights, usability and optimization like never before, and that is where iBeacons, proximity marketing, indoor navigation and indoor analytics are the modern technology that hold the key to the future of understanding customer/user behavior.
Here is what happened at E-tailment
Here is a brief overview about what happened at the event from an indoor analytics perspective.
Digital Analytics: Past, Present and Future
– Business Intelligence-related
– data quality
– social media influence
Here is Justin Cutroni blog as he is somewhat of a legend in this field.
This movement is driven by Marketing tactics and technology.
– integration of 1st party into google analytics
– combine online and offline behavior (study: 0.5 on same day checking mobile)
– Micromoments – Shows that 50% of customers check the item they will purchase on their phones
– integration of 3rd party data (eg weather)
Here is a summary directly from e-tailment
– identify whales – High value customers/multipliers
– Segment users (eg info seeker, event participants, donors)
– Detect and alert when things are different
– business context difficult to implement in the machine learning behaviors
The team needed to optimize Data learning
– chief data officer
– Program manager
– data plumber
– data storyteller
– Embed data people
1st and 3rd data, crm & ad exchanges
1. user journey
2. marketing performance
3. context is king (annotations)
Integration, user centric, context
– Use first party data to target similar customers
– Data governance = management of data
– Data ownership = legitimation+control
– define KPIs
– Implement KPI
– measure & analyze
– Set actions
– Do it
– … Repeat
– KPI is relative, should be few
– Site index … How relevant to conversion
– Comparison of metrics
– Difference to average
– User flow (to target), loops
Finally, here is the write up about the event from the E-tailment team themselves.