Flonomics

Retail Growth Predicted for 2012: Will Your Store See the Growth?

acraft — Fri, 10 Feb 2012 18:05:31 +0000

According to the National Retail Federation, the retail industry will see a sales growth of 3.4 percent in 2012. While that’s down from last year’s estimated 4.7 percent sales growth, it’s still substantial enough to boost business at many retail stores.

The real question is — will your retail store be one of them? It’s hard to say, but with growth taking place in 2012, either you OR your competitor will get the business. We want to help you get the extra business, so we’ve created a list of tips that will help your retail business get more shoppers in the door so you can turn them into loyal customers:

1. Promotional Events – If executed properly, these are always a great way to get more shoppers. The best tip for retail stores regarding promotional events is to plan your event far in advance. When you attend another store’s successful promotional event, it may seem like it only took a business day or two to get everything together, but if it was detailed and successful, it probably took more like six months to a year to get all of the planning completed. Make yourself a list a year ahead of time to be sure you hit all of your milestones. If you want to run a radio or television ad, you will want to contact them early so you can get primetime holiday spots and deals.

2. Greetings - Customers want to feel like their presence is noticed and that it matters. Knowing their names or giving them a simple, “Hello, how have you been since you were last here?” when they enter is noticed by customers more than you may think. Chances are if your store and a competitor sell the same product, the customer will lean toward the store with the most welcoming approach. Read more on this in our last blog.

3. Cross-sell and bundle – If you sell something specific that has extra accessories or other products like it that the same customer may need or want when purchasing one product, be sure to show them in the same area of your store. For instance, when you come across electronics in a store you expect to see them next to a variety of cases, accessories and batteries. A customer who just bought a camera doesn’t want to search around the entire store for batteries – they should be right next to the cameras. Usually electronics stores have this down to a science, but as any retail store, you should be able to do the exact same thing. If you sell clothing, make sure your store window has the mannequin not only dressed in all of your store’s clothing, but wearing your jewelry and carrying one of the bags sold in your store. You’ve probably noticed that at Starbucks they sell anything and everything their coffee fiend customers might want — coffee mugs, pastries, seasonal décor and bags of beans to take home. A cross-sell doesn’t have to feel forced because many times it will happen naturally. Often times your customers want to know about the products that will make their initial purchase better in some way, whether it makes it more functional or just more fun.

Using these tips, you can increase the amount of shoppers coming to your store and the Flonomics people counting cameras can help you count them. At Flonomics, we believe that growth is key. While we are growing, we’re also making sure to keep our original customers happier than ever. That’s why we have a 98 percent client retention rate!

Want more information about the Flonomics people counting camera solution? Contact us today: info@flonomics.com

The Correlation Between Sales and Salutations

acraft — Fri, 20 Jan 2012 16:57:32 +0000

A genuine greeting can take any business a long way to gaining a lifelong customer — especially a brick-and-mortar retailer. While you might not have the resources to hire a store “greeter” per se there are plenty of ideas to boost your business with a simple greeting.

First, be sure to acknowledge each and every shopper. Greeting everyone might seem daunting but most people want to know that their presence is noticed and valued. Most research concludes that the less time you take to notice and greet a shopper, the more likely they are to stay. This goes for smaller businesses as well, but the trick there is that no matter who is assigned to greeting customers, someone always does. Even if you’re the owner of a bakery and your assigned greeter is on break, someone should be saying hello…even if it ends up being you in a flour-covered apron. It’s the effort and the enthusiasm that counts.

Second, get rid of the old rhetorical question, “Can I help you?” Most likely, the shopper will say no and most likely your efforts (despite how much you really do mean it) won’t come off genuine. Author Michael Gerber, said in his bestselling book, The E-Myth Revisited, that businesses that change their greetings from “Can I help you?” to “Hi, have you been here before?” have seen a 16 percent sales increase. International Corporate Trainer and Speaker Jeff Mowatt thinks this might be because asking gives the customer a sense of familiarity or reminds them if they have been there before. In his blog, Mowatt also said that the two best words you should make a point of memorizing are the shoppers’ first and last names. Or, if you don’t remember, it’s best to acknowledge that they have been to your establishment before — even if it’s just a simple, “Hello. It’s nice to see you again.” Not only does this work as a greeting, but it also makes the customer feel comfortable.

Thirdly, why not kill two birds with one stone? You know that people like to be greeted and that your business should have someone there performing this task, so why not maximize your opportunity to get one-on-one feedback? Ask your customers questions about who they are, why they came and what it is they’re looking for. As long as their willing to talk, you might as well find out — after all, this market research costs you all of $0 and you might learn some really valuable information.

At Flonomics, we greet all of our clients with a want and willingness to help them make their businesses better. Not only do we want to help, we’re dedicated to it. From the initial inquiry, answered within 24 hours by a live Flonomics representative, to the demo, helping you decide whether we are a good fit for you, Flonomics will be there. You can count on more with Flonomics.

The Magic of Knowing Your Customer

acraft — Mon, 09 Jan 2012 17:34:49 +0000

Although no two businesses may have the same clientele, most can agree that knowing their customers is a great vantage point to have.

Whether your customers are of a certain age, gender or certain geographical location, you want to know because, let’s face it, knowing who you’re selling to is like knowing the secret to any good magic trick — it just makes more sense, takes away the illusion of uncertainty.

Not only should you know your loyal customers, but you should strive to learn where your new ones are coming from as well. Customer base is always changing, and being stuck in one mindset might hold your business down. In a recent Wall Street Journal article, former Bergdorf Goodman CEO Ira Neimark revealed one of his biggest secrets to success.

“There is no question, in any business, that it is imperative to know as much as possible about your present and potential customer,” he said.

Maybe you are used to having an older customer base composed of shoppers that you’ve had for decades, but are starting to notice a younger, more computer-centric crowd. Instead of just print advertising, maybe you will begin advertising online as well to gain that extra crowd — one you would have completely disregarded had you only serviced your loyal customers. Now, business can grow and, without isolating the older crowd, you’ve managed to bring in a whole new customer base that will keep business steady for years to come.

Flonomics’ focused approach of gathering data on both existing and potential clients through a variety of metrics helps us to truly know our clients. By knowing our clients, we can quickly help you make a determination of whether we’re a good fit for your business. Find out if Flo is a go for your business by setting up a demo appointment today!

Is Your First Impression Causing You to Lose Your Second Transaction?

acraft — Wed, 07 Dec 2011 23:13:27 +0000

We’ve all been in a store or restaurant where there seem to be 20 employees standing around with only 5 of them working, right? Just the sight of it can be overwhelming. Often I find myself walking right back out of a store when I notice a myriad of zombie-like workers coming toward me, or, even worse, all standing around gossiping giving off that high school clique vibe that makes me feel like I’m not supposed to be there. Or, there’s the exact opposite: the store where one cashier struggles to check out a long line of customers. You might pity him or her and stay for this one transaction, but will you be back? My guess is probably not.

Either way, under or over staffing does not give off a good impression. As a customer, I sometimes wonder if the storeowners have any idea how this type of bad first impression could be killing business.

We all thrive off that first impression whether it’s a positive or a negative one. As former Bergdorf Goodman CEO Ira Neimark said in a recent Wall Street Journal article, “One of the defining moments of a career is what type of first impression you make on the executives who are instrumental in guiding and deciding your future in the business world.” Neimark was talking about the first impression that eventually took him all the way to the top of the Bergdorf brand. However, as a business your “executives” are your customers and they are the ones who will decide your future. Therefore, making a great impression isn’t just a good idea - it’s a must if you want to stay afloat.

Flonomics people counting software can not only help you combat the over/under staffing issues your store might have, but also strives to make your first impression a great one. With our comprehensive evaluations throughout the process, you can sit back, relax and watch your business grow with Flo.

Customer Service: The Key to the Consumer Heart

acraft — Thu, 27 Oct 2011 21:49:00 +0000

Recently, Flonomics went shopping for a vendor. The whole experience really had us thinking about customer service and how much people value it. According to a recent study conducted by Right Now Technologies, “85% of customers are willing to pay up to 25% more to ensure a superior customer service experience.

After working with two companies, we realized that while one was extremely proactive in their contacting us, the other was only reactive at best. The difference between their approaches is what ultimately decided which company got our business. Not only did the proactive company continually give us additional information, but they were also available to answer questions whenever we needed. The other company promised to get back to us in one day and ended up taking more than a week to even establish contact. By the time we had heard back from them, we had literally already signed a contract with the more expensive, yet more reliable company. And needless to say, no one here was regretting that decision. After all, customer service definitely isn’t going to get better after the sale.

That’s why at Flonomics we believe that the service starts before the sale ever happens. We promise a response from a live person in 24 hours at every stage of the engagement, including evaluation, implementation and support.

The Future of Customer Interaction

admin — Thu, 31 Mar 2011 16:16:03 +0000

Smartphones have become a daily necessity to many in the near post-industrial world, and with smartphones come smart applications that make our lives not only easier, but more entertaining and insightful. Apple recently revealed that the ten billionth app was downloaded in January of this year. And it seems that's only the beginning. New increasingly creative and intuitive apps are available everyday.

This month, Macy's announced the launch of one such smartphone application available to its customers. “Backstage Pass” allows customers to watch videos about fashion trends and advice acquired by email, social media or scanning QR codes within the store.

The easy accessibility provided by “Backstage Pass” echoes that of the Flonomics smartphone application. All of the important analytic data compiled by Flonomics' industry-leading video-based technology is also portable so business owners and managers can observe the easy-to-navigate dashboard at any time.

The Macy's app allows customers to knowingly interact with the store. With Flonomics' app, businesses interact with customers to learn more about their needs and desires. “Backstage Pass” provides customers with tips about things like fashion, but the Flonomics app provides analytic data to businesses in order to pinpoint areas for improvement.

Macy's claims that their smartphone app acts by “engaging our customer in a personal way that enhances and adds a new element to their shopping experience.” The Flonomics app is very similar in that it adds a new element to business management and understanding your consumer base. With Flonomics' customizable social media application, businesses can also engage customers directly by using programs such as Facebook and Twitter to identify loyal customers.

Contact Flonomics today to learn more about the various ways in which Flonomics can help make your business successful!

Magical Algorithms

admin — Thu, 17 Mar 2011 17:11:56 +0000

The concept of algorithms may seem daunting at first; an equation to help me do an internet search, buy online goods, and direct me through traffic? Yes, algorithms are an integral part of our everyday lives. In a recent article, Jean Francois Mourier discusses how algorithms can be an essential aspect of hotel revenue management. As the article points out, the benefits of utilizing an algorithm-based program to aid in understanding customer behavior, staffing efficacy, and conversion rates is invaluable.

Flonomics employs algorithms to provide customizable solutions for a variety of business verticals including hotels, casinos, retail, restaurants, and more. Our unique algorithms make it possible to provide solutions to businesses by analyzing the highly accurate, detailed data compiled and shown on the easy-to-navigate Flonomics dashboard.

What can algorithms do that you can't have your staff do? Too much to list. While staff members can count customers that enter the establishment (albeit with considerable human error), Flonomics does this and much more with up to 98% accuracy. Whether it be customer counting, customer tracking, facial recognition, determining merchandising and staffing efficacy, figuring conversion rates, detailing how weather affects your business, even integrating social networking profiles so you can recognize your most loyal customers when they come in, Flonomics will provide critical information about your business all while operating behind the scenes. Instead of relying on busy staff members attempting to gather analytics, place your confidence in Flonomics so your staff can focus on helping customers.

Algorithms used by Flonomics make analytics fast, accurate and easy for business owners to digest. To find out how Flonomics can benefit your business, contact us today!

Facial Recognition in Retail: Then and Now

admin — Fri, 04 Mar 2011 16:34:16 +0000

In January 2010, Intel and Microsoft unveiled a technology believed to be the future of retail, marketing and consumer spending. The technology involved digital signage that detects the gender of a customer and presents an advertisement accordingly. In addition, the 7-foot-6-inch billboard was capable of interacting with customers, allowing them to explore the store on a single screen. The ability to predict customer needs and desires the moment they walk in the door is not only innovative, but extremely advantageous for business owners looking to better understand and cater to their customer base.

Fast forward to one year later and Flonomics is employing this revolutionary technology on a daily basis in establishments around the globe. Flonomics' discreetly installed solutions collect all the data of Microsoft and Intel's billboard and more, all while operating in the background.

The unique facial recognition technology present in Flonomics systems determines age in addition to gender, providing yet another level of analysis. The data collected from this analysis can be connected with digital signage, like the Intel and Microsoft sign, to show gender- and age-specific advertisements or directions to specific locations within a business. You can direct children to the arcade, men to the gift shop or women to the spa.

During the peak dinner hour, you can show your patrons how long the wait is for the buffet by utilizing Flonomics' queue management feature. Unlike the Intel and Microsoft signage, Flonomics' data collecting does not require direct interaction from the customers. By observing customers, without recording them for privacy's sake, Flonomics delivers 93-98% accurate data for you to determine how to best help your customers and, thus, your business.

With Flonomics, your business' unique needs are turned into a customized plan for success.

The Most Accurate People Counting Solution

admin — Mon, 21 Feb 2011 18:48:00 +0000

With installations worldwide, companies count on video-based people counting solutions from Flonomics for accuracy and reliability.

Automatic Gender Recognition

admin — Mon, 21 Feb 2011 18:45:39 +0000

With automatic gender recognition from Flonomics, you'll be able to identify a viewer's gender and adjust your digital signage or advertisements accordingly. Imagine the possibilities!