YOUR COMPANY SPENT MUCH ENERGY AND MUCH MONEY ON TECHNOLOGY EXPERTISE, IMPROVING ACCURACY, AND DESIGNING DASHBOARDS
WHEN THE PILOT IS FINALLY RUNNING, BOTH THE RETAILER AND YOU ARE BUFFED ON HOW TO MAKE THE DATA MORE ‘ACTIONABLE’
I’ll be first to admit that retailers are a difficult bunch to crack
This may not win me friends, but it has to be said
The reason you are not winning deals is because…
You are still trying to sell technology
Think about this for a second
…If you are still scrambling around, running from retailer to retailer, desperately pleading with every single stingy manager to pay a decent price for your solution – one that would not force you to declare your technology as a commodity…
… If you get stuck with mid-level managers, you cannot find a way out of the Information Technology and Operations departments, and the senior executives are refusing to speak with you...
… If you hitting your head on the wall trying to figure out why the retailers cannot understand the value of three metrics, and why you keep talking about costs, and why they laugh when you even mention the word “growth”…
And It gets worse…
You Scheduled that C-Level Call, And?
Talk about two simple, but terrifying, words.
Often companies position themselves as technology solutions looking for a problem.
If you understand the core challenge of the retailer, you should have a clear idea of what your solution can do to help them improve
… if you sell marketing analytics that integrates a variety of edge hardware than you should cater to retailers who WANT to measure the In-Store Customer’s Journey
… If you sell advanced technologies such as vision, voice or bio-metrics than you should cater to retailers who DESIRE to build Growth Loops with Loyalty Customers.
Here’s the deal-
There are no silver bullets, but there is a way forward.
Think Like An Analyst And...
RESEARCH. TEST. OPTIMIZE
BEHAVIOR ANALYTICS is the Process to convert Visitors to Buyers using Time & Location Intelligence, KPI frameworks, and In-Store Customer Analytics
Let me offer 5 Insights:
• The most analytical retailers go beyond data and focus on WHY… They seek user experience, design, psychology, and other methods from behavior science
• The most successful retailers focus on CUSTOMER ENGAGEMENT … They continuously measure customer behaviors and monitor product positioning
• The most profitable retailers devise CALL TO ACTION CONVERSIONS…. They identify steps in the customer journey and narrow what they want customers to do
• The fast-growth retailers obsess about FRICTION POINTS…. They design stores and processes with the goal of preventing abandons
• The long-lasting retailers have GROWTH MINDSET… They always researching, testing, and learning about new technologies, processes, and ideas
PASSION FOR GROWTH
Ronny Max is Founder of Behavior Analytics Academy & Principal of Silicon Waves (CRO in Physical Stores) Agency. She worked with over 150 retailers, solution providers, and research organizations on optimization projects. Silicon Waves provides strategy expertise on People Tracking Technologies, Location Analytics & InStore Path to Purchase. In 2015, Ronny served as the retail expert in Stanford University Vision Project. In 2017, we launched the Behavior Analytics Academy.
Butch Jagoda, V.P. Information Technology at Helzberg Diamonds
"Ronny was very helpful in guiding us through the learnings of how to leverage traffic counting metrics into our retail business. She is very knowledgable with both the technologies and business analytics used to leverage customer traffic counting systems to assist in labor scheduling, product placement and customer behavior. these customer insights resulted in business changes that delivered significant ROI and improved customer service"
Christopher Ainsley, CEO ShopperTrak
"I have worked with Ronny for many years. She is deeply knowledgeable about the Retail Analytics industry. Her insights have been invaluable. She is easy to work with – highly responsive and highly pro-active. I strongly recommend Ronny