How to Improve Customer Retention Using Predictive Location Analytics

How to Improve
Customer Retention?
Using Predictive Location Analytics

2COPYRIGHT © 2017, JULY SYSTEMS, INC. ALL RIGHTS RESERVED
Customer Churn
Customer churn is the clearest sign of a
brand’s diminishing value. But it is extremely
difficult to find out the root cause of customer
churn. For a long time now, retailers have
been trying to improve customer retention by
trying to identify the most profitable sales
channel.
They have been embroiled in the online vs
offline crisis. But what they don’t realize is
that these two channels are not divergent,
one is not necessarily weaker than the other.

Retaining Customers
If you want to improve customer retention,
the digital vs physical approach to retail sales
needs to be abandoned in favor of a more
integrated approach because today’s
customers are dynamic, empowered and shop
across multiple channels.
To truly understand customers and the
reasons they churn, retailers need to analyze
the digital & real-world customer behaviors to
identify patterns & then use them to predict
future trends.

Predictive Analytics
Using a predictive analytics tool, businesses
can gain insights into the reasons of customer
churn. A predictive location analytics tool is
not really the technological equivalent of a
crystal ball; rather it uses data such as –
precise customer location, their in-venue
behavior and their dwell times to identify
which customers are likely to leave, much
before they actually leave.

Understand Customer’s
Barrier to Consumption
Location analytics can be implemented as a
stand-alone system but its predictive
capability increases remarkably when
combined with CRM and other data sources.
This multi-pronged approach allows
customers to be segmented and profiled
more accurately, meaning that
communication and interaction with
customers can be made more relevant and
therefore much more likely to be acted upon.

Identify the Right Proximity
Marketing Strategy
The digitally connected consumer can be very
demanding when it comes to what kind of
content he’s served. Instead of annoying a
potential customer with a blanket marketing
strategy, tailored messages can be seen by
the recipient as helpful suggestions.
Sending coupons or other promotions only to
those who are most likely to make use of
them is not only the most efficient use of
available marketing resources, it will also be
appreciated by the customer and will lead to
better engagement over the longer term.

Be Proactive in Serving
Customers
Predictive location analytics can assist in
finding correlations between variables in
large data sets with ease.
A human observer might not be able to
explain the amount of crowding, much less
predict it. But with a predictive location
analytics tools, businesses can anticipate
this crisis and make better preparations to
deal with a high volume of visitors.

Focus on the Customers
Who Need It
Customer attitudes, offerings from the
competition and market conditions are
constantly shifting. Keeping track of your
client base can, at times, feel like trying to
nail jelly to the ceiling.
More accurate profiling and segmentation
of the customer base can make this much
easier, enabling effort to be directed at the
types of customers with whom it will show
the greatest benefit.

Bring Context and Predictability
It is vital for anyone in the B2C sphere to understand
as much as possible about their customers, their
needs and what factors influence their actions.
A huge amount of information is available from
loyalty programs and even third-party sources, but
this is of limited value unless you can tie this to how
the customers actually behave at your physical
business location:
when they arrive, how long they stay, and when they
return. Without this capability, it will seem as if
you’re trying to build a puzzle without a picture to tell
you where the pieces go.

10
About July Systems
Founded in 2001, we are pioneers in mobile experience
and engagement platforms. Through a process of
continuous innovation we have stayed ahead of the
curve in a fast changing mobile landscape. We’re now
on a mission to digitize physical spaces through our
latest product Proximity MX, a SaaS tool that provides
WiFi analytics and mobile customer engagements for
physical spaces.
Connect with us:
www.julysystems.com | Facebook | Twitter | LinkedIn

How to Improve Customer Retention Using Predictive Location Analytics

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