Understanding the consumer journey into and inside the store offers valuable insights for brands and businesses. However, getting this data is a challenge for all but the largest retailers and brands.
With the help of beacons, AreaMetrics is looking to bring location intelligence to businesses of all sizes. It’s currently working with malls, restaurants and individual retail locations.
AreaMetrics is a software platform that collects location data derived from mobile apps that are programmed to communicate with a network of in-store beacons. These apps aggregate location data that AreaMetrics then transforms into actionable consumer insights for their retail clients.
Given that more than 92% of purchases still take place locally, the company’s objective is to make offline behavior data as accessible to marketers as online behavior data. A better sense of when customers enter a store and where they go inside can help companies and retailers optimize offline tactics like signage, merchandising and the customer experience, among other things.
The company has developed tremendous range and currently reaches millions of mobile users. High-density saturation allows the company to achieve significant location granularity in specific geographies.
As a new LSA member, I spoke with COO Carey Bennett and CEO Brandon Bennett, the husband and wife duo behind the company. It was interesting to hear how the journey to AreaMetrics actually started with an app that helped users find happy hour information in Hawaii.
In an effort to save money, the couple wanted to find restaurants that offered discounted happy hour menus near their home in Hawaii and realized just how hard it was to find this information. As a result, the couple went on to develop the “Happy Hour Pal” app, which brought this data together.
Their restaurant customers wanted more insight into how the app was helping to drive foot traffic. This is where the beacon strategy arose and AreaMetrics was born.
Today the company’s goal is to make location data available to all by delivering location insights to retailers big and small. As for what is next, the founders said they are working on some really exciting things related to the user/indoor experience side of the business.
– See more at: http://www.lsainsider.com/areametrics-wants-to-democratize-location-data-insights/archives#sthash.ow2L0Bg6.fRqJ3bhr.dpuf