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Beacon uses in Retail and CPGs

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Retailers install Beacon devices that accurately analyze customer’s purchase history. It points individual buying two or more products at one go.

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Beacon uses in Retail and CPGs

  1. 1. How Can Beacon Help Retail Outlets and CPG Companies The mushrooming of retail outlets and penetration of IoT in those units generate constant opportunities for CPG brands. The established CPGs avail benefits with their launch of new products, whereas a newbie is also seeing hope when introducing its first product in the market. But what are driving their sales? How are they transforming the traditional business strategy to make profit? How can they predict their consumers so well?
  2. 2. To discuss, we first highlight “Natural Affinity” – relation between one or two products. When a customer shops in a retail outlet, he often buys two or more products together. Some buyers have the inclination to buy same sets of products over and over. It can be considered, that particular buyer is in a need of buying these products together – ALWAYS! Or, these products have a natural affinity like bread and butter or hamburgers and fries. But occasionally, products like beer and diapers or tuna and toothpaste are also bought together by many. So, Choice Varies by Needs! Therefore, CPG or Retailer must not trigger discount notification depending only on the product affinity, as the analysis may go wrong if an individual prefers buying unlikely products. So, retailers must study each individual’s buying behavior, and push customized promotional message to boost sales. Otherwise a proximity message can be annoying. CPG companies or the retailer ought to identify the market basket of their shoppers, only then, they can effortlessly settle on the products frequently purchased together. So, how to analyze perfectly? Retailers install Beacon devices that accurately analyze customer’s purchase history. It points individual buying two or more products at one go. What can be the possible Benefits? 1. Customized promotional messages can be triggered. 2. Encourage sales by allowing discounts and offers on frequently purchased products. 3. Build Customer Loyalty. 4. Uphold brand promotion. 5. High ROI in the long run.
  3. 3. Sometime Bundle Offers are so introduced by retail outlets, after judging the market basket of the consumers, that helps shoppers to avail value added deals that may be more as per quantity but within the price range. This is profitable for both ends. How CPG Can Connect To Their Customer In Real Time And Sent Push Notification to Boost the Sales? Your phone suddenly conveys you that your favorite soup brand is offering Warm Free Samples just near the coffee shop you are in. You run for the food truck, parked nearby and get the deal. What is more, it presents you a spring coupon allowing a discount of 20% on your next purchase from their retail outlet. Won’t you grab it? This is the newest sales strategy of leading CPG powered by retail outlets. This above example, as you see will increase the sales of the soup brand and create a possible sale for the retail nearby as well. The strategy is not pushing any offers or vouchers primarily, rather it is offering free samples, strengthening the buyer-seller bond and then pushing for next sale that too by the way of an attractive offer. Beacon is the invisible hand working at your back to hit you the promotional message when you were sipping the cup of coffee. How to use Beacon to launch a new Product? When you are about to launch a new product, chances are – you either are a brand new trade name, or you already have your existence in the market and want to introduce something new this time. If you are in the first category, your retailer can set the ground for you.  Primarily, you have to identify number of consumers buying your competitive products regularly, study their taste and preference, and consider all the factors driving their sales. If you wonder how to get the information – Beacon can be handy for you!  Next, you have to request your retailer to place your product near your competitive products. So that customers walking into the retailer can get
  4. 4. introduced to your products too along with the products already familiar to them.  Set up a POP (Point of Purchase) inside the retail store, or put your product on view in Digital Signage so that your newly launched products get highlighted and enjoy the sales. But, if you are already in the market and want to introduce something new, a good option for you is to go by Bundle Offer.  Push a discount on your newly launched Product B for the consumer buying your Product A on a regular basis.  Identify the buying behavior and know what offer may attract the consumers and introduce your products accordingly. Allow beacon to work for you, so that you get accurate results on the choice of buyers and market your product to enjoy the finest trade. So, you see Beacon is the driving force behind the flourishing marketing strategies of today’s CPG and Retail giants. Wait No More. Install Beacon in your Store Now! Read morefor Updated Information on Retail Analytics, IoT, Big Data, Customer Analytics, Brand Management and Proximity Marketing Solutions. at Tickto Blogs – http://tickto.com/blogs/ Follow us: http://facebook.com/ticktoinc | https://twitter.com/tickto | https://www.linkedin.com/company/tickto