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A Guide to Elevating Retail Sales with the Help of Beacon Technology

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Karam Mangat
Karam Mangat
Karam Mangat is an independent market analyst. She is an expert who provides clear, practical advice on entrepreneurship and management. She's dabbled in all areas of marketing, her one true passion has always been content writing such as Beacon technology benefits. You can follow me on Twitter via @KaramjitMangat.

Beacon is a very tiny and less expensive, micro-location-based technology which I used to send the radio signals and detect the present Bluetooth devices near it and share information. The smartphone captures these radio signals according to the distance from the beacon devices. Most of the industrial sectors, educational institutes, finance, travel, etc. have started the usage is beacon technologies which help then to elevate their retail sales and communicate with their existing customers.

Beacon can help in finding the current location of the person with a high accuracy rate which helps the event organizations to communicate with their targeted customer based on their presence.

How Beacon Technology Benefits Retailers

How does beacon technology works?
What makes beacons technology function as it does? A beacon is a small wireless device transmitting a continuous radio signal over a period of time with the intent of getting a task done in a shorter period of time.

There are many innovative ways through which a beacon technology can be useful in the retail industry. Moreover, it allows the retailers to enable high experience for their customers, depending on their relationships. The following section will enlighten some of the benefits of beacon technology to let you know about this technology.

1. It helps in spotting and ushering the customers to your store:

Beacon technology can help retailers to send the notifications and greetings on special occasions and also help in sending offers available in the store to the shopper’s phone living in the nearby areas, of course, when the shoppers have the related application installed in their phones because that implies that the customers have already shopped in the respective stores once.

You should greet the customers and guide them towards the specific section of the store in which they are interested in. You must always keep the notifications simple and up to the point without annoying them.

2. Use beacon technology to know about their buying pattern:

Beacon technology can be used to integrate the customer data which will promote you to sell more. With the help of CRM, you can get detailed information about every transaction of a particular customer with the help of which, you can provide them with special coupons/discounts. You can aggregate data from an online purchase and the in-store at the same time.

For example, suppose your customer has selected any product and added to his wishlist but unfortunately, the product is currently not available in the stock. So, the CRM records the customer demand and when the product arrives, you can either send them an email or if the customer pass by, you can also notify them through the message about the arrival of the product.

3. Create better campaigns (offer discounts in real-time) for special customers:

One of the most important methods to flourish your business is when your loyal customers are taken proper care and the new customers keep on pouring in. For this, the retailers have to strive hard to supply and fulfill the needs of your customers continuously, of both the existing and the new customers. Planning for an additional special discount for special customers can help a lot in elevating retail sales.

Suppose that a customer has searched for home appliances from your online store but had not purchased anything and they are roaming around and you have the proper time to offer them with the best deals, so, with the help of the beacon technology, you can send them the notification to call them in.

4. Collect more information using the beacon with the help of the customer:

According to the research, around 40% of the customers seek for the best offers on their mobile phones while they are in the store. Businesses can include this to offer the best deals to their customers. Extracting data from the customer at the very less moment of time is a very big task but still you need to do it with all your effort the buying pattern, choice, browsing history, taste, feedback loop, customers complaints, etc. this process needs to be completed without disturbing the privacy of the customer and without annoying them. The more you know about the customer, the better you serve them.

The CRM consists of valuable information and the beacon technology helps in the ‘data revision’. Every single communication with the customer can help to enrich your data system which can help you in returning them with the best offers. You can also use it to help you to increase your app. The brilliance lies in using it effectively.

5. Get to know about the customer’s in-store experience:

The beacon technology along with the CRM can be used effectively in selling the concerning and only the items in which they are interested in. Beacon technology helps the customers to select the products of their interest which result in accelerating the process of purchasing from entry to exit.

The shopkeepers can get to know more about the section in which the customers used to spend much of their time along with the frequency of their visit to the store, purchase history, loyalty factor, and the use of coupons provided to them which can be used for future reference.

The beacon technology also helps the shopkeepers to feedback to the CRM along with the feedback received. This is one of the most important conditions if you are looking forward to building up a personalized customer-business relationship. You will get to know how much value a personalized customized message is when the competition becomes stiffer.

Pros. and Cons. of Beacon technology

Beacon Technology in Action
Here is a definitive guide to guide to elevating retail sales with the help and introduction of beacon technology. It works magic!

Pros of Beacon Technology

  • Generate engagement between the customer and the business
  • Builds customer loyalty and trust
  • provides retailers with great opportunities for strategic personalization
  • They offer rewards to the customers that choose to interact.

Cons of Beacon Technology

  • Needs the Bluetooth connectivity to be turned on in customers devices.
  • Sometimes the customers get annoyed with a large number of push notifications.

How to install beacon technology

To install the beacon technology in your retail stores, follow the given steps:

1. Plot Beacons on the floor plan

You must start with the floor plan and mark the area where you want to install the beacon technology. An ideal plan must cover the entire area without leaving the dead zone in between.

2. Install the beacons

After plotting the beacons on the floor, install beacons on those locations. You can ask your friend to come with their smartphones and look for the dead zones if any.

3. Run the Trials

After the installation, your customer’s smartphones will start detecting the beacons and you will notice a spike of sales from the exclusive offers offered them through beacon technology.

You can program every beacon to provide different offers which will also help you in noticing the offers that are working for you.

Conclusion

Retailers must adapt some of the new upcoming technologies if they are willing to survive in the coming future stiffer competitions. Beacon technology provides a great platform for you to start your retail store.

Firstly, you must make sure that a large number of customers to download your mobile application. With the help of which, you can enable the Beacon technology all over your store which will help you to monitor their shopping behavior and their interests.

With the help of such information, you can use them to send the customers a personalized message at the relevant time which will help them to improve their shopping experience. Beacon technology can help you to target the potential customers nearby your store by enticing them to come in and purchase something from your store.

Beacon technology can help you to improve the customer profiles with the help of the collected information.

Beacon technology can also play a huge role in enhancing eCommerce stores without their physical stores. You just need to think outside the box and find suitable places to fix your beacons.

If you follow the tips stated above, you can generate more sales with the help of beacon technology.

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