Mobile enables Consumer behavior tracking
Mobile phone density in India is increasing at a tremendous pace. Out of a total population of 121 Cr, mobile phone access is with 79 Cr people. An interactive device in the hands of every consumer can help create the much needed one-one communication channel.
Brands have always wanted to know their consumer. Traditional media allows the brands manager to send out one – many messages. It is dependent on the time and frequency that the media provides for a certain cost. Access to the consumer is restricted to specific locations.
Consumer touch points have exploded in the last few years. Our prospect is spending more time on his mobile, social media or surfing the Internet than watching TV or reading newspapers. None of the traditional advertising media provide access to customer information. We have our ads being viewed by million eyes, but we do not know, if they were our relevant target audience. Millions of prospects visit our stores, but we do not have customer data for post visit interaction or to induce repeat purchase.
Digital and mobile media are changing the landscape. Mobile provides one-one to interaction with your consumer anytime, anywhere. Capturing consumer mobile number at your point of sale, through your offline advertisement or on social media, give you access to the consumer instantly.
New technology of mobile loyalty cards, short codes, QR codes on advertisements, Facebook widgets & hand-held devices today allow you to capture customer details across media. Creating a 360 degree customer acquisition strategy is the first step in knowing your consumer. You need to acquire them to retain & engage them.
The retail industry today works on traditional billing systems. The only thing that matters is bills. Consumer is not in the radar. Many Point of Sale systems do not have a consumer details section on their billing interface. It is critical to tag each bill to a specific customer. Identifying consumers, their purchases and frequency can enhance your customer loyalty and impact repeat purchase.
Consumers want discounts & offers, still redemption rates of leading brands are as low as 4-6 percent. The challenge is relevance. Relevant offers sent out at the right time using the appropriate channel invoke consumer action. Just like the mobile number enables identification of the consumer & helps capture purchase behavior, it provides an ideal channel for dissemination of offers for instant utilization.
There is a visible trend that is replacing plastic cards with mobile loyalty cards. Physical gift vouchers are being replaced by mobile coupons. Mobile coupons market globally is estimated to be US $ 2 billion. Consumers are fast jumping on to using anytime, anywhere relevant mobile coupons rather than standard and random generic offers.