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Showing posts with the label business intelligence

How restaurants win hungry shoppers

We all have to eat. And when people are on the go especially during the busy holiday shopping season they’re often looking to grab a bite close by. We all know this because “restaurants near me” has been the most popular “near me” search for the last five years. Also, despite the growth in online shopping, more than half of purchases still happen in-store during the holidays. And when you consider food-related and restaurant searches, like “restaurants,” “restaurants near me,” and “food near me,” commonly appear in the top 20 searches for many retailers, it’s easy to see why the holidays are critical for restaurants. As proof, a recent study conducted by Google and Numerator found that of the top highest sales days for restaurants last year, 72% of them occurred in October, November, and December. That said, it’s clear restaurants around the world have a unique opportunity to turn hungry holiday shoppers into your next customer. For brands looking to win more foot traffic th

Build a bond between brand and customer experience

50-60% of buying decision are depends on the bond between brand and customer experience. In our latest study we find, creating strong relations — either positive or negative — can help build a bond between customers and brands, which is definitely a goal all business share. Positive relations are vital to a good retail customer experience as a loyal customer is more likely to consider your brand than a one-time customer. A brand’s connection with customer’ relations, also known as brand intimacy, directly affects the growth of its business. Brand intimacy encourages bonds that are reciprocal and are deepened by relation. The user must have engaged with or repeatedly tried a brand before a connection is built between them and expected friendly experience. A strong connection is determined by the degree of overall positive feelings a customer has toward a brand and the extent to which a person associates with the brand and key attributes. Some of the markers of such intimac

How online video empowering consumers in India to take action

Online video has long been seen as a tool to build brand awareness. But after speaking to people around the world about why, how, and when they watch online videos, it’s clear that consumers use video at every stage of their journey. Here, we share insights about consumers in India that marketers should take note of. YouTube channels in India have more than 1 Million Subscribers Average watch time of video entertainment content per day per user on Smartphones is >36 minutes People in India watch online videos to learn new skills and follow passion. Online videos are more than a viral content, people often watch YouTube videos for learning & self-improvement. Growth in watch to me for videos in India 3x in Hobby >2X in Cooking 2x in consumer electronics 2x in beauty tip Once viewers feel they have learnt online, they are ready to get started in real life and that’s when “can do” into “must buy.” >80% of online video viewers tak

Intelligent Retailing-Dynamic Pricing and inventory optimization

When we talk about intelligent retailing we talk about the technologies, today used by retailer and eCommerce seller to offer better pricing by optimizing the inventory. Intelligent retailing includes a whole ambit of technologies like Big Data, artificial intelligence, machine learning, new sensor hardware and varied solutions stemming from them. Dynamic Pricing and inventory optimization These retail trends are designed to enable dynamic pricing, markdown optimization and inventory optimization so that retailers can plan quantity and pricing of their products appropriately. Simply put, cost savings for the retailer. The predictive pricing solutions include usage of daily/weekly/monthly data and uses historical trends and current sales metrics to forecast best pricing scenarios to help the retailer in promotion planning and to determine percentage of discount per product per region. Predictive inventory management and cognitive demand forecasting solutions that were dem

Think Beyond Purchase – Understand Shopper’s Journey

Today marketers understandably tend to possess over purchases. Even if they understand an entire consumers journey leads up to a purchase, the actual sale is the tangible result of all their efforts and the thing that puts money in the exchequer. That means many ends up focusing on where that purchase gets made, either online or in-store. This is an important data point, in our research people preferred purchase certain things from online and some from store. But the truth of today shopper’s before purchase any thing they browse and research online whether they have intend to buy from store. In our research we talk some shoppers regarding their purchase journey about 60-80% people browse and research online and see the factors like features of the product, customer reviews, pricing & warranty before make any purchase. Omnichannel Channel Strategy Wins- In Some categories We talk about apparel, how you should buy something without trying it on? As in our research a

Enhance your business with customers behavior data

Today business using big data & machine learning to learn about customers behavior. With customer behavior analytics, business is able to make data-driven decisions because they have an individual-level view of their customers. When business know exactly what customers want, what they do and look for, and how they may act in the future, they are in a better position to create personalized customer experiences and increase customer loyalty. McKinsey  found  that 50% of companies making use of customer behavior analytics are likely to have sales significantly above their competitors, 6.5 times more likely to retain customers, and 7.4 times more likely to outperform competitors in making sales to existing customers. Overall, organizations that correctly utilize customer behavior analytics are 19 times more likely to achieve above average profitability. If you want to enhance your business performance and make improvements in your marketing campaigns, then, here are some pra

In the age of assistance, delivering growth starts with predicting future by beholding data

As a marketer, chances are you’ve used consumer insights to understand what your customers want and then delivered relevant experiences to them. But have you ever used intent signals to predict what your customers want? Today, marketing technology allows you to do just that. The reality is the customer journey is nothing short of dynamic. As the journey continues to shift and change shape, it’s becoming harder for marketers to make sense of all the consumer intent signals people leave behind. Because as people look for what they need, they switch between channels and devices. They may conduct a research and saw the journey of the customer from start to end. Marketers have had to navigate these twists and turns by juggling first- and third-party data, probabilistic modeling, or remarketing. But all of that manual juggling simply won’t cut it. Today’s consumers expect more. They want assistance at every step. Therefore, as marketers, we need to be one step ahead of our customers —

Achieve the goal with automated marketing

As a business, you know how hard it is to keep up with customers today. People have become research obsessed for most purchases and expect brands to assist them in a personally relevant way at every stage of their purchase journey.   Machine learning is one automation tool that can boost your efforts to meet people’s high expectations. Machine learning can help to create automated marketing campaigns, at scale, that place the right message in front of the right customer at the right time at the right price, delighting people and delivering the business results marketers want. We talked  with top brands decision makers who have adopted machine learning to improve their marketing, we’ve found that the top-performing brands are applying these below rules and asking themselves these questions to achieve goal with automated marketing: Optimize your campaigns for growth : Machine learning is only as good as what you ask it to optimize. Top performers optimize the c

Can you achieve the business outcomes without the right measurement?

You can’t achieve the business outcomes without the right measurement. Today market is number  market. If you can’t measure it, you can’t do it. So, some years back, when people started talking about organizing their brand around the customer, I thought, “Yeah, but what does that  actually look like?” Fast forward to today: We’ve turned that jargon into a reality. Below are the questions put on the path to better measurement: A Better Strategy for Measurement Is your company set up to give you an aggregate view of the customer journey ? If your answer is the latter, I can guarantee you’re getting a ripped understanding of your customer, and you’re not set up to measure for growth. At the top level of your company, your business goals are to attract new customers _ engage them for long term relationships and delighting strategies ensure customers are happy, satisfied, and supported long after they make a purchase . Rather than individual channel teams, now you have two

Top Marketers use Machine Learning & Artificial Intelligence to drive growth

Automation and machine learning technologies are changing the way marketers drive results for their customers and brands. But there’s still a significant gap between those who are just talking about machine learning and those who are taking action. For marketers looking to become leaders in their field, this is an exciting time. It’s a chance to make your mark, get ahead of competitors, and drive real results. To explore this shifting landscape, we partnered with the Massachusetts Institute of Technology Sloan Management Review (MIT SMR) to conduct a global survey and interview over a dozen executives and academics about their use of automation and machine learning technology and the results they’re seeing. Do more with your data Companies with appreciations to use machine learning have more ability to drill-down and see their KPI data in greater detail. This can lead to increased knowledge sharing and transparency, and help teams work together to make smarter , data-dr

Chatbot’s: Future of market research

Business Insider  experts predict that by 2020, 80% of enterprises will use chatbots. According to  Lauren Foye , by 2022, banks can automate up to 90% of their customer interaction using chatbots. A survey conducted by  Spiceworks  showed that 40% of large companies employing more than 500 people plan to implement one or more intelligent assistant or AI-based chat robot over corporate mobile devices in 2019. According to Relay, 65.1% of companies using chatbot technology are engaged in web software, and 58% of companies using chatbots technology are focused on B2B. According to  Drift , 27% of adult clients in the United States are ready to purchase basic goods through a chatbot, 13% of adults in the US have at least once bought expensive items using chatbots. According to  Adobe , 28% of leading companies use AI for marketing, while 31% plan to use AI in the next 12 months. According to  Opus Research , by 2021, 4.5 billion dollars will be invested in chatbots. Customers boldl