This post is part of a series on the 7th Customer Lovefest held at the Tower Club Makati last November 15-16, 2018.
Raphael Layosa, Chief Executive Officer of RetailGate graced the 7th Customer Lovefest with his talk on Smart Cameras and how it can help businesses analyze consumer and employee behavior. On the business side, smart cameras are being used for Customer Experience Management professionals who want to maintain their business efficiently.
Any relationship starts with courtship, even in making your customers loyal to you. From gathering Information to Understanding it and its application as an Experience, you will gain your Customer’s loyalty by utilizing Artificial Intelligence, Actual Information and Actionable Sights.
Marketing is about courting your customers and building relationship with them, but it does not end in building relationships, because you should always track relationships you already built – You should always update your status with them.
In understanding their customers, business use E-Commerce. Through E- Commerce, data are captured such as website traffic, click rate, browsing time, journey and conversion. Moreover, to understand their customers, they will know who they are, what they are interested in and what they buy. RetailGate applied this idea from the virtual space to physical locations with the use of tracking cameras.
CX leads to Conversion
According to Layosa, Customer Experience leads to Conversion. Optimization of Conversion happens through Exposure, Density, Browsing time, Service time, Queue time and Transaction time, Merchandising, Lay-out and Staffing.
In in-store customer behavior data, count, dwell, journey and conversion are need to be considered. In conversion, you will know how well you are selling, how much of all visitors made a purchase and how much opportunity is left untapped.
According to Statistics provided by The Headcount Corporation as cited by Layosa, about 48 percent shows why shoppers do not buy is because of staff service, 30 percent goes to Merchandising and Inventory, 13 percent goes to Browsing and 9 percent goes to the Price. Main reasons are checkout line was too long and little to no assistance.
To conclude, Layosa left delegates three things to think about:
- Are they measuring the right things?
- Do they understand the impact of these metrics on conversion?
- Do their in-store tactics optimize conversion?
RetailGate is a technology startup that harnesses the power of Artificial Intelligence and Automation to provide competitive intelligence and data -driven advantage through Retail Analytics with the use of Smart Cameras.
RetailGate is founded by Layosa (for Sales and Marketing and Strategy Business Development) together with Engr. Miguel Remolona, PhD (for Machine Learning and Knowledge Management Research and Development) and Engr. Danielle Salon for Image Processing and Software Development Technology Implementation.
More ideas on improving your businesses’ Customer Experience await you at the 8th Customer Lovefest this November 14-15, 2018 at Discovery Primea, Makati City. For more information, call us at (+632) 633-0153 / 643-3887, text us at (+63) 920 920 2532 / (+63) 920 981 4376, email us at firstname.lastname@example.org / email@example.com or visit us on Facebook.
Written by Michelle Camacho