Updated: Nov 13, 2018
Getting clear, accurate and real time picture of new and returning customers, clients, travelers, visitors, their loyalty and purchasing power is of utmost importance for businesses. We offer Facial Recognition technology based market research linked to point of sale (POS) data provides store (business) management with the information they need to take advantage of their brand awareness and brand supporting marketing initiatives.
Brand loyalty is the tendency of consumers to continuously purchase one brand’s products over another. Frequent purchasers of one company’s product are less likely to be swayed by the marketing messages of competitors, thus increasing the chances that those customers will continue to conduct business with the that company. Loyalty is extremely beneficial to businesses as it leads to repeat purchases by consumers, higher revenues, and customer referrals. Having a loyal customer base can help a business push past its competitors and give it the competitive advantage it needs to succeed in the marketplace.
In addition to having higher sales than those without brand loyalty, companies that have successfully established a loyal following can enjoy a growing customer base as well. Loyal customers have the potential to turn into open advocates and brand ambassadors for a company. Satisfaction with a business will drive them to spread brand awareness and refer new customers, effectively providing a company with costless advertising.
A traditional and popular method for nurturing brand loyalty is having a rewards program. Many companies entice customers to make a purchase by offering points or a similar object to be redeemed for prizes and awards, to the point when the customer is not loyal to the brand but driven by the perks of the rewards program.
Consumer behavior patterns demonstrate that consumers will continue to buy products from a company that has fostered a trusting relationship. Our Facial Recognition technology produces insight to the visitors and customers’ real, emotionally driven assessment of any service, business and offering by measuring each person’s satisfaction by capturing facially expressed emotions real time: when and as they happen. Our solution utilizing the on-site cameras capturing every person in your store and differentiating between new and returning customers (based on the digital recognition of 32 facial landmarks without taking any image).
The management team will receive a report and visual representation of the true ratio of new and returning (loyal) customers. Furthermore, when integrating the facial recognition data with POS terminal information, our solution will provide you with the current market segmentation of your loyal purchasing, loyal browser and new customers.
Management of retail outlets, malls and plaza’s can receive focused customer target group specific to each vendor and other service provider renting space in the building. Individual retailers and vendors will be able to differentiate between visiting/browsing versus the ones making actual purchases, as well as the profile of the customer group who is most likely to shop at their location. Basic market segmentation includes geographic, demographic (age, gender), psychographic (facially expressed emotions), behavioral (making a purchase versus browsers) and benefits, service, product driven target groups.
Brand loyalty is calculated in combination of the above market segmentation categories achieved by:
Facial recognition of returning and new customers
Real-time feedback for ratio of potential and loyal customers
Linked to POS data differentiation of returning “browsers” and actual shoppers/clients
Customer satisfaction analytics
Retail partners will be able to pinpoint and identify the small things with big impact and go beyond the customer’s expectation, making the choice for connecting loyal customers with multiple choices.
Customer Loyalty module will enable better understand its customers and the target group who is using it:
explore audience and consumer segments,
find clientele’s interests
identify opportunities with based on the real time data
Retail partners will receive the true representation of loyal customer base without loyalty card data or cognitive bias by:
Identifying the true ratio of returning customers vs new ones
Analytics of what loyal customers do (browse, purchase etc.), which stores, vendors or services they use, how much money and time they spend etc.
Immediate answer to what makes a customer “loyal”
Understand customer perceptions and opinions using information derived from facial expressions and accompanying emotions.