Millenials are a weird bunch and over the past couple of years, we have witnessed brands swiftly go bust squarely because they have just refused to adopt technologies that keep this demographic engaged. 2015 is certainly not different, with the internets of things debate still dominating headlines in the world of tech and more businesses than ever deploying and adopting innovative POS systems and the ibeacon technology powered by Apple. We at Reyou Limited have sought to decimate and better help businesses understand why this shift in customers engagement pattern is so instrumental in the survival of their business
The most striking result to have emerged from this rapid change in consumer behaviour is the recent survey which concluded that “82% of millenials are more likely to use their phones than speak to a sales associate”. So it begged the question, why is this shift in consumer buying behaviour so instrumental for businesses and why exactly should it bother brands as to where their core audience’s preference lies. The not so obvious answer to this really is, to understand your customers and better cater to their needs, you as a seller, need to understand their buying patterns and where they spend the most time during those crucial buying phase. i.e. mobile
Mobile is now king, and it is set to out-number PC’s in terms of the amount of purchase, payment and engagement generated via this channel in 2015. So it comes as no surprise as to why millenials would rather use their mobile devices than speak to a sales associate, who in their opinion might have a limited knowledge on what they seek versus the internet which harbours a great deal of information. The apps now being used by brands have become a lot more sophisticated and engaging in-terms of the contents they push out and how their rewards programs is merged with the app in real-time. With the implementation of ibeacon technology and location specific marketing from the likes of Facebook, Google, Groupon and Shazam the fight for domination in proximity marketing is just getting started.
Brands are now looking to strategically align themselves with new start-ups working with innovative technologies from the ibeacon to payment companies, seeing as a good deal of their business is already being patronised by the millennial demographics, for which they want an access to. For example Reyou limited partnered with UCL decide to bring their ibeacon powered app to their 23,000 plus students. Now business looking to tap into this millennial’s obsession with their mobile phones can either create an engagement question which is pushed out via a form of notification to these thousands of students. Reyou’s users who opt-in to notifications can engage with these brands via our platform in-return for a boost in real-time engagement from this demographic and increased brand awareness amongst this category of users and peers.
The impact of the ibeacon technology for businesses and brands especially when it comes to the millenials is huge. They more than ever will have access to coupons, rewards, information and video contents of the products they intend on purchasing in real-time. Meaning that they will only be interested even some more, in products that are relevant to them based on their location, context and current mood. Further emphasising the need for personalised offers and behind the scene use of dash boards to better target a business’s core audience in real-time, draw them to your location and engage them in a way that encourages more spending than they originally anticipated.
For help implementing an ibeacon strategy, contact us on twitter @reyou_biz
Mr Barack Obama is breaking the internet and winning the game on every major social media platform. This comes as no surprise then, seeing as the majority of under 35’s can now be found on major social media platforms. They like to interact and stay in-touch with their friends and favourite brands, the way they know best in a digital age, and that’s via social media. This has undoubtedly been the new “normal” for quite some time and one which the slightly older population are struggling to get their heads around. It is no longer safe to be seen as lacking in some digital footprint, regardless of what your plans are when it comes to setting up your digital real estate.
What Mr. President have perfected, is the ability to stay engaged and speak the language that his core audience understands and can resonate with. Which in this case is going via YouTube. Social media is becoming an increasingly integral part of our everyday lives and business, sorry to break it to you, but it isn’t going away anytime soon. With more apps now being built around social media platforms and APis, it comes as no surprise while every major business needs to be on tap in real- time via dash boards. Lets exemplify this, if you have two businesses, where one was Mr. Obama and the other was you. Now Mr. Obama has tapped into a huge resource base by going to where his core customers spend the most time i.e. social media and apps. By engaging with his core audience through mobile powered apps that read in real-time, he sees what they are saying (i.e. comments and rating) what they are sharing (i.e. selfies at events or coffee shops) and with this information he can tailor his business offering in real-time to appeal to an even greater number of customers and in-turn generate revenues.
Well little can be said for business no 2. because not only is it lacking in having the quality real-time backed data to drive his business, but he is also missing out on what his target demographics are saying about his product offering and customer service in general.
It may not seem like a huge deal but quite clearly it is, with digital platform apps becoming extremely smart and kitted out with attributes like geo-location and ibeacon powered proximity detectors, there is an ever increasing benefit for every business to go with the times and secure their place with their demographics. Adopting a piece of technology has never been shown to undermine a business but rather improve its overall performance and reach. Apple is investing massively in both its mobile payments platforms and location based sensor advertising, it hopes to start pushing out adverts via notifications when an iOS powered mobile is detected near any of its ibeacon devices regardless of where it is positioned. Just like
Mr. Obama, it is securing its future, demographics and in-turn its digital real-estate so that it can meet the demands of an ever evolving digital age.
Benefits of the iBeacon
The struggle for consumer engagement is real. Ever so often we come across retailers lamenting at the lack of relevant opportunities to engage their loyal customers or target market. Advertising and content generation alone will not necessarily engage consumers, there is no guarantee of revenue generation and there is certainly no guarantee that those contents are going to be shared on social media. The rise of e- commerce and social media technology has somewhat left traditional off-line retailers and marketers in the cold as to how to tap into the huge data generated from both shopping habits and on-line social media profiles.
Many smart offline retailers like Waitrose and Selfridges are already piloting and reaping the rewards of an ibeacon powered consumer engagement. As of December 2014, the McDonalds franchise in the United states saw a massive increase in sales as a result of the ibeacon powered push notification, and there are plans to have them rolled out across America in 2015. In-store connectivity through reward apps like the Reyou app launching in January has been proven to boost engagements and social media communication with a brand. According to a recent survey publication by Arqiva research, it was concluded that 35% of consumers spend time researching reviews on a particular brand or product before purchase and a significant amount of this research is carried out on social media platforms often linked to apps. One of the crucial benefits of the ibeacon for the traditional grocery store or high street retailer or food chain is its location specific edge. Every customer that has an iOS and android phone is bound to receive such notifications of offers and rewards so long as they have the app and are in close proximity to your store.
The Reyou app solves this problem tremendously well because a lot of your core demographics will never download a retailer specific app, but by having one app that caters to multiple retailers, you are sure guaranteed to have consumers pouring through the doors to redeem rewards. The Reyou app has consumer social media engagement at its core by enabling and encouraging users to check in, share their moments with friends and garner opinions for individual brands. Providing would-be customers the social proof and reassurance they require to make a purchase as well as acting as valuable advocates for the brand. There is a bright future for an ibeacon powered app, with more adoption growing through the country at a rapid scale. In addition to that, the ibeacon device equips retailers with a wealth of useful data like how long a particular customer spends in a store, their product of interest, their buying behavior on the shop- floor and if the push notification from the apps sways or influences their purchase. These data would never have been available if not for the ibeacon and with Apple looking to advance this piece of hardware, expect to see retail tracking technology get a whole lot smarter and insightful.