Drive Targeted Marketing in Retail with Video Analytics Insights
Marketers and advertisers get inferences from various activities happening in stores using video analytics to improve the customer experience, efficient use of space, and optimize the retail store layout in the best possible ways.
Before we dig deep into the video analytics applications for in-store marketing and advertising let’s understand advancements in CCTV monitoring and the potential of Artificial Intelligence-based video analytics in retail stores marketing.
Nowadays, CCTVs are used for more than just loss prevention. They also provide intelligence to operations in retail, manufacturing, infrastructure, and a variety of other industries, and they are used to generate revenue. In retail, for example, the entire customer journey can be evaluated. Video analytics for retail solutions are intended to provide more information about the store and its customers. Video analytics solutions can help you improve the entire customer experience by allowing you to streamline retail operations. Offline stores lack significant key customer analytics that is critical in making important marketing, operations, inventory control, and other choices. Retailers can access that data via video analytics, making their marketing efforts more mature and generating more revenue. A few key metrics that the marketers can derive from AI Video Analytics and apply in optimizing marketing campaigns are:
Real-time Store Footfall: Many stores are missing critical data points such as accurate counts of client foot traffic at any one time and understanding how customers move across a store. These kinds of data can assist marketers and advertisers make important decisions about when to begin or refresh campaigns, as well as optimize product placement in stores.
Heatmap Analysis: Marketers can use visual heatmaps to examine customer navigational patterns using video analytics information. This assists in determining how customers react to popular items or displays. Retailers can also determine whether road congestion is causing in-store congestion. Advertisements and displays can be placed based on these findings to improve store performance. It aids in determining which messages and items are most relevant to visitors and where marketing and advertising resources should be spent to maximize return on investment.
Demographic Analysis for Targeted Campaigns: With demographic analysis, based on video analytics highly customized content in the form of advertisements in various store areas can be delivered which can influence buying behavior in a meaningful way. These demographic insights can be used to establish the most successful campaigns for reaching target audiences, evaluate their performance, and find new target audiences.
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Loyalty Programs and Customer Experience: Customer loyalty and retention are highly influenced by their in-store experience. Customers who are waiting too long in line can be detected, and real-time email alerts to supervisors lead to better resource allocation. Marketers can use data-driven techniques to better understand and optimize the in-store experience. To determine the cause of abandonment, data from people-count reports can be combined with data from point-of-sale systems and sales data. By analyzing visitor insights, marketers learn which displays and advertisements entice customers to enter the store, and by linking visitor data to POS data, conversions can be increased.
Ad Personalization: Ad customization targets clients with hyper-targeted and contextualized ads in order to boost campaign success, peak consumer interest, and boost conversion rates. In the context of brick and mortar, this can be accomplished by displaying advertisements on various types of digital displays throughout the customer’s path to purchase a trip in-store, as well as using smart audience measuring technologies to track passing customers in real-time. Once a client is recognized within the screen’s field of view, the technology anonymously analyzes them, analyzing data such as age, gender, and mood, and then plays an ad suited to the consumer’s demography to provide a terrific personalized experience.
Nowadays, retail video analytics is not just about loss prevention, but also a key tool for business growth. Staqu, Organizations like Staqu with built-in Video analytics capabilities, are helping retailers stay competitive by providing insights for delivering value to customers and increasing loyalty. JARVIS from Staqu helps to improve customer experience in real-time by visualizing information into configurable dashboard reports on their advertising and marketing initiatives. This allows them to make better advertising, promotions and purchasing decisions to boost traffic and revenue.