31 Aug Are you STILL not on the predictive analytics bandwagon? Here’s why you should be.
Predictive analytics is enhancing retail environments by allowing store owners to understand, predict and measure customer behaviour and use this to their advantage.
As a retailer in a bricks and mortar environment, if you have not invested in a predictive analytics software solution yet, the time has come for you to stop living in the dark ages and step into the light!
We can help you achieve this with real-time analytics using cutting-edge technology to increase sales and reduce losses. We are experts in the industry, (we say that with the utmost of confidence), and that is why you can trust us when we share with you just four of the many reasons why you need to invest in a predictive analytics solution for your store, today.
Customer Service and Retention
One of the key benefits of utilising predictive analytics software in your bricks and mortar store is to identify those customers who have the highest propensity to buy, or more importantly, those who have the highest propensity to leave without concluding a sale. In most cases, you wouldn’t even know that they were in your store!
Combining data with predictive analytics will provide insight into your unique customer profiles and habits, which will convert convenience shoppers into brand loyalists and result in less basket abandonment.
With our predictive analytics software, you will have the tools you need to ensure that customers don’t run for the nearest exit when they are faced with long queues during peak footfall times, or due to poor service. Use our arsenal of analytic weapons to deploy more cashiers before queues build up.
The gist of it: you can deliver superior customer service and enhance their overall experience, pure and simple.
Stock Control and Merchandising
Using real-time analytics in conjunction with CCTV infrastructure will improve planning and buying accuracy when estimating how much stock is required in your store to meet customer needs, reducing waste from expired products significantly and improving overall predictive capabilities.
With our predictive tools, you can monitor your customer demographics and movement throughout your stores, apply this data to your buying strategy, and with it improve operational efficiency and cost effectiveness.
Marketing and Promotions
In addition to the above mentioned benefits of predictive analytics solutions, (as if that isn’t already impressive enough), visual merchandisers will be able to make informed decisions about positioning of products, be it in the aisles or on promotional ends, and the impact of their marketing material by applying accumulated real-time findings to your merchandising and marketing strategies.
This will result in lowered marketing costs and an increase in ROI from campaigns.
Staff and Management
Having happy, well-trained staff on the floor of your stores who understand that they are the face AND walking-talking encyclopedia of your business is key for any store owner. Each interaction with customers must be of the highest standard. In the age we live in, customers expect your staff to be knowledgeable on the products that they sell and offer guidance when asked for assistance. If your staff is unhappy their knowledge of product not up to standard, customers will feel the negative vibe, and it will result in poor service and unhappy customers!
It is all about finding a balance between being under- and overstaffed; being understaffed will result in staff being stressed out and being overstaffed will result in them being totally bored!
With our predictive analytics tools at the helm of your store, specifically, the staff component, you can draw up rosters, effectively measure staff productivity and efficiency to improve and ensure optimum staffing, deliver training where necessary and ensure high quality customer service. Bam! Just like that, you save time and money.
Syenap knows more than just a few things about predictive analytics and we have all the tools you need to turn your data into the hero of your business. We can offer you tangible, real-time analytics by integrating our unique analytics system in to your existing infrastructure.
Not convinced yet? We are on standby to seal the deal. Get in touch with us now.