Shopping centres: 1 change of focus, 5 business opportunities!
To get to know someone is tricky. You have to introduce your self, chit-chat a bit and maybe be a bit funny. You have to make sure you don´t offend or make the other person angry and you have to listen and show interest. You have to do this several times and over time. But then, after a while, you will have a new friend and maybe that person will be in your life forever.
In business, getting to know your customers follow the same logic. The "potential friend" is the potential loyal customer. With marketing you introduce your self, with relevance you show respect for their personal profile and with value you give something back. By getting to know your customers, you will increase your business.
So how well does Shopping centres know their customers and what is the benefits of it? We have summarized the 5 most important effects of having a "know your customer" - focus in shopping centres.
1. You increase footfall! If you know your customer, you become more relevant in your communication. Relevant communication increase footfall with 25, 50 or even 100 %.
2. You increase sales for your tenants! If customers return more often, they buy more and they choose your centre before others.
3. You increase your own sales! Your leasing department can use the insights to attract new tenants.
4. You become a data supplier for tenants! Shopping centre data is super relevant for your tenants. In the shopping centre you have the full purchase profile of a person. You can share or sell information about what customers do before or after purchases.
5. You become a data supplier for partners and advertisers! Relevant consumer data is key for advertisers and the demand for data from physical shopping i huge.
In the next article we share info on how to get started. How do you become relevant and how do you create the value to turn anonymized customers into identified members.
Goloyal have over 10 years of experience working with shopping centres. We have developed a "get to know your customer" concept that some of the biggest and best shopping centres in Europe have implemented. With our tools and know how we can help you get full transaction insight, 100 % active customers, data on all behaviour and the tools for increasing sales and footfall. If you want to know more, reach out to us thru contact information below.