The physical retail stores market is tremendous, generating around 20 trillion dollars of yearly sales worldwide. Many clients visit stores every day, however, only 20% to 40% of them decide to buy. Even a small increase in this percentage would significantly increase store revenues, and retail marketing combined with some Teltonika products can help achieve this.
The relatively low percentage of customers who buy can be explained by the lack of a call to action at the right moment. There is a lack of personalised discounts or offers for shoppers, which could be a good incentive option for both the buyer and the seller, but it is usually difficult to identify the right timing, or there is simply no person or technology available to offer this.
Also, there is a lack of advertising for a well-specified target group in retail stores, which would help to increase sales by far. For example, traditional retail advertising such as billboards is ineffective since they are expensive and shown to many viewers who are not the target audience.
However, it is difficult to do targeted advertising in physical stores: if a potential customer was interested in a product but did not make a purchase decision, this valuable information will not be captured. It is unlikely that the person will return to pick up the item. Combining this information about customer presence with digital advertising could be the perfect combination to drive the customer's decision to buy right now, right here.
Furthermore, present-day customers prefer personalised offers for the products they are interested in. 56% of consumers think that brands should show a deeper understanding of their needs. The challenge is to provide retail brands with data about the presence of their potential customers in specific sections of physical stores. So that then they could offer the customers personalised promotions according to their needs. That said, retailers need an inexpensive way to effectively target potential retail customers based on their physical presence in the store, and Teltonika Telematics can help achieve this.
It is possible to learn the valuable data of customers’ in-store presence for a personalised experience. To make it happen, Teltonika EYE Beacons, combined with a third-party mobile app, can be used in the place of interest. They are small, easy-to-mount Bluetooth® Low Energy devices with a battery life of up to 10 years, which helps to leverage the solution efficiently and scale it up.
How it works – EYE Beacons should be installed in areas of interest, for example, in different sections of a retail shop. They broadcast their ID signal as an iBeacon or Eddystone protocol. This signal is read by customers' smartphones when initiated by a third-party app. This captures relevant data about a specific customer at a specific location and can then send assigned notifications, for example about sales promotions - deal of the day, week, etc.
This would allow for more targeted advertising campaigns, let’s say, promoting special offers and personalized discounts to customers who are already interested in the products. It could even help to invite nearby customers to take advantage of limited offers - for example, if a person walks past a shop, a message could be triggered to invite them to come into the shop and get discounts.
In addition, special promotional messages could be used to greet customers when they arrive at the outlet, thus enriching the shopping experience and increasing sales. Personalised messages make customers feel more aware of the brand and, therefore, more loyal, and willing to buy. By using Teltonika EYE Beacons, the shop would be able to meet the real needs of the customers, based on their interest in a certain section of it.
Finally, the solution would enable the collection of valuable customer data to help make data-driven business decisions. It would show how long customers spend in each section of the retail shop or how long it takes to make a purchase decision. For example, when the beacon is identified, the app generates a special QR coupon for a customer. As the coupon is scanned, this time can be considered purchase decision time. Additional loyalty campaigns could be carried out, such as giving customers the chance to win something when they physically visit a store.
- Encourage in-store purchase decisions by providing potential customers with personalised offers, special discounts, and loyalty programs.
- Reach your target market - run presence-based beacon messages to drive more sales and increase revenue.
- Engage with potential customers – help those already interested in the product to take a part in their buying journey.
- Offer targeted discounts – give the best deals to those who are interested but may miss the final push to buy more.
- Inexpensive and easy-to-install accessories – Teltonika EYE Beacons are compact, lightweight, wireless, easy to install and can be kept in a store for a long time without having to replace them.
- New business opportunities - telematics service providers can expand their projects in a new market niche - retail.
To achieve sales targets and implement the solution, successful retail marketing campaigns require reliable and affordable Bluetooth® beacons. Teltonika Telematics delivers an easy-to-setup and universal solution suitable virtually for everyone’s needs. Individual branding is available as well as several options for mounting thanks to the shape of the device. The longevity of products is approved by an extraordinary internal battery.
We have everything you need to succeed - the widest range of high-quality, certified GPS trackers, asset trackers, accessories, and solutions for every application imaginable in the telematics industry. Bringing all of that together, Teltonika Telematics has proven to be a trustworthy business partner with more than 24 years of experience, modern production facilities and top-quality European-made products.