Customer engagement is no longer ruled by content. Data is now in charge of the retail industry.
As the retail industry becomes more competitive, with both traditional and online businesses vying for customers, merchants are looking to provide an experience that goes beyond just selling products. The goal is to create a shopping environment that is tailored to the individual customer and provides a unique and memorable experience.
To achieve this, retailers are turning to data about their customers. By gathering information on who is visiting their store, how long they stay, what they look at, and what they purchase, retailers can gain valuable insights into customer behavior and preferences. This data can be used to personalize the shopping experience, making it more engaging and enjoyable for the customer.
In the past, collecting this data was a time-consuming and manual process that involved spreadsheets, point-of-sale data, and customer feedback. However, new technologies such as Business Intelligence (BI) tools have made it easier and more efficient to gather and analyze data. BI enables retailers to quickly and easily identify trends and patterns in customer behavior, allowing them to make more informed decisions about how to improve the retail experience.
For example, BI tools can be used to analyze foot traffic data, providing retailers with insights into the busiest times of day and the areas of the store that attract the most attention. This information can be used to optimize store layout and product placement, making it easier for customers to find what they're looking for and increasing the chances of a sale.
Additionally, BI tools can be used to analyze customer purchase history, providing insights into which products are popular and which ones are not. This information can be used to tailor product recommendations to individual customers, improving the chances of a sale and enhancing the customer experience.
In conclusion, retailers are turning to data and BI tools to improve the retail experience for their customers. By gathering and analyzing data on customer behavior and preferences, retailers can create a personalized shopping experience that is more engaging and enjoyable, ultimately leading to increased customer loyalty and sales.
Fine-tuning the message
In today's retail landscape, one of the primary ways that retailers connect with their customers is through a network of in-store digital signage. Studies have repeatedly shown that the installation of even a minimal digital signage network with relevant content can increase sales by several percent and even up to 30% or more. However, while "content is king" has traditionally been the guiding principle for a digital signage network's effectiveness, a new maxim is emerging: "Data is king."
Thanks to technological advancements, retailers can now use their in-store digital signage networks to provide customers with more personalized and targeted content. The networks can detect when a customer is nearby and gather basic demographic data to display relevant material. Additionally, the network can trigger content based on factors such as time of day or weather conditions. By comparing the timing of these triggers with point-of-sale data, retailers can determine the effectiveness of their messaging and adjust their content accordingly.
For instance, imagine a digital display with a camera and analytical software that can determine a viewer's age, gender, and other characteristics. Although the system doesn't collect or store personally identifiable information about the customer, it can still make assumptions about their preferences and interests. If the system determines that the viewer is a woman in her early 20s, it might display content or product advertisements targeted towards that demographic. If the viewer is a man in his late 40s, the content might be tailored to their interests.
Retailers can use this data to make real-time decisions about their content strategy, adjusting the use of certain types of material based on their impact on sales. By comparing different types of content across various locations, they can gather insights into which types of content resonate best with different types of customers. With the power of data, retailers can create a more personalized and effective in-store digital signage experience for their customers.
Beyond the screen
NEC Display Solutions has recently introduced a business intelligence platform called the NEC Analytics Learning Platform (ALP), designed to provide real-time content and data measurement for retailers. The platform combines NEC's advanced video analytics with its digital signage expertise, offering retailers comprehensive business tools to better understand their stores and customers. With the ability to collect non-identifying demographic information such as age and gender through anonymous video analytics, NEC ALP can trigger real-time content relevant to the customer's location and demographic data. The platform also provides insightful data on the impact of content on sales, audience demographics and traffic, overall customer interaction, and which content results in the most pleasant customer experiences.
NEC ALP features a unique back-end architecture that combines edge and cloud computing to provide quick responses and foster real-time business insights. The platform can gather information from various sources such as cameras, in-store sensors, weather feeds, inventories, kiosks, and mobile devices. This makes it more than just a facial detection or digital signage solution, as it offers powerful content and a dashboard for retailers to monitor customer behavior and engagement. Retailers can use this data to improve the customer experience and engage customers more effectively. With NEC ALP, retailers can reach the right audience with the right message at the right time, ultimately improving sales and customer satisfaction.
Recapping NEC ALP
Big data analytics, cloud services, managed services, hardware, and software make up the NEC Analytics Learning Platform system. The platform is comprised of cameras, sensors, and an edge computing appliance that is local to the store. The system is built with complete API integration into major CMSs for digital signage, enabling it to send and trigger immediately actionable content onto various media player platforms. The triggered content is subsequently shown on large- or small-format NEC Display monitors.
NEC ALP is a full-featured platform that offers consultancy, hardware, software, cloud computing, software customization, physical installation, hardware and software integration, integration with important content management systems, and content creation tools. The platform also offers 24/7 on-site support and maintenance, as well as assistance with hardware, software, and managed services.
Several partners are integrated by NEC ALP to provide a comprehensive solution. Integration into the BrightSign platform, content management systems (CMS) from NAVORI and StratosMedia, and infrastructure from Microsoft Azure and Intel are essential. The platform also makes use of Data Call Technologies for weather and location-based content aggregation as well as NEC EVA for video analytics.
