If you are involved in marketing, you would pay special attention when you hear about analytics. Marketers use many different analytics tools to obtain information that helps them determine the effectiveness of their marketing campaigns – this is the key to success that helps make optimal business decisions.
How can demographic analysis help you better understand your customers
Facial biometrics is not only useful as a means of finding and identifying individuals, but is also an excellent tool for gathering information such as gender, age and ethnicity.
We are living in an era of high technology and the amount of data that can be extracted from software products is unmatched by what you could collect manually. So far, the only way we could get information from our customers was through human interaction. Manually processing their data via the Internet, business cards or completing a questionnaire. This method captures information only from those customers who buy, not from those who leave without making a purchase.
Demographic analysis allows you to classify individuals based on their appearance. This in-depth knowledge is very useful, especially if you know more about not only your current but also your potential customers. This is the essence of demographic analysis: identifying, collecting and classifying information for people.
What can you learn from a face
Our innovative system allows you to collect information about people who visit your store, view marketing displays or storefronts.
This technology allows you to answer questions like: How many women and men have been here today? How long did they stay? Which products are you most interested in? What day of the week are you visiting?
But do you know which is the coolest? There is no facial recognition, all this information comes only from the detection of persons at the time of their arrival. Our algorithms allow you to get gender, age and ethnicity by simply scanning, on the go and in real time without identifying faces, taking pictures or video.
How can we use all this data
Imagine owning a mall. Knowing your audience from visitors, you can successfully negotiate with current and new tenants based on reliable statistics, collected in easily verifiable manner. Another particularly useful use of demographic analytics data is the optimal management of marketing activities – attracting advertisers targeting demographic groups that you know are a regular visitor to your mall. Sample scenario: It’s Tuesday morning and your analysis shows that you have a significant number of female visitors between the ages of 25-35. Automatically advertising the displays in the mall goes to a beautifully prepared video of a Swarovski necklace. The ladies are interested and visit the boutique.
If you own a store, you can optimize your portfolio based on actual store attendance. For example, if you have mostly male visitors, it might be appropriate to focus on offering the right merchandise. By integrating visitor data with your sales system, you can learn what your success is when selling items that target a specific demographic. For example, you have many male visitors, but the goods intended for them are not sold as well. You could make small changes to the positioning of items to attract more interest and generate sales. Another example of a successful use of data would be when loading goods and selecting new brands that are appropriate for an audience in the store.
These are some of the reasons why the high-tech demographic analytics system has huge potential for return on investment, opening up new opportunities for success.