It’s no secret that social media networks such as Google, Facebook and Instagram collect vast amounts of data on their users. While questions have been raised about what is done with this data, and who owns it, its purported use is to provide better service and advertisements to their users – ones they’ll actually click on.
While social media networks usually don’t own the products that they’re advertising to you, online shopping websites such as Amazon do. It should come as no surprise then that Amazon does something very similar. They know about your shopping habits, your interests and your desires.
With this information, they can use accurate target marketing to get you to buy something you want or need.
Times are Changing
Much of Amazon’s thriving success can be owed to the fact that their digital presence allows them to collect vast amounts of data on their customers, which can then be used to improve their marketing efforts. Offline retailers have never had the same luxury. That is, until Weezmo came up with a solution.
Weezmo CEO Shai Raiten has created a version tools similar to what Amazon uses, but for physical retailers. These tools enable businesses to collect and utilize information about their customers in order to better understand them and subsequently increase sales.
Why Retailers Need More Insights
Raiten owes low returns on marketing efforts of brick-and-mortar stores to the great disconnect between online and offline behavior. If you buy a plane ticket for travel, for example, you still get emails and online ads asking you to book a flight. On the consumer side, it’s simply annoying and for the business that’s advertising, it’s ineffective.
To repair this disconnection, Raiten teamed up with a team that includes former Israeli intelligence specialists from prestigious backgrounds to work on developing software that can collect and analyze customer data to help retailers get a better idea of who to target, what to advertise to them, and when.
While Weezmo has only been delivering production software for a year and a half, it’s already seen great success servicing Brick & Mortar Retailers of all kinds, retail brands such as Zara, H&M, Sabon and Galita, big box stores such as IKEA and restaurants such as Pizza Hut and KFC. Weezmo lead generation and account based marketing effort in North America is supported by Martal Group.
How Weezmo Works
Weezmo creates software that links a customer’s B&M purchases with their online searches and purchases to create a complete view of a customer’s behavior, and surfaces insights to promote repeat purchases at their retailer’s locations or from their online stores.
Weezmo also offers an e-receipt of a customer’s purchases, but turns the receipts into an interactive engagement tool to continue the dialogue between the retailer and customer after the customer has left the store, with product/store feedback or rating links, social posting links, loyalty program signups or add-on product coupons based on the products the customer purchased in-store. Raiten explains that most retailers already collect large amounts of user data, they just don’t know what to do with it.
There’s a clear benefit for both companies and the consumer if data is collected and used wisely, to offer relevant products at the right time and point of need to consumers, and for retailer to not only measure the ROI of their marketing based on views or clicks, but to store purchases of the advertised products. Retailers can also maintain higher margins by promoting food items or clothing that have been languishing directly to customers who ordered similar food or clothing in that size before discounting products. As companies like Weezmo continue rising to prominence, the B&M retail landscape, where 90% of purchases in the US still happen today will grow their competitive advantage.
Read Full Article Here – Offline Retailers are Catching up With Facebook and Amazon