Many restaurants and retail companies spend a lot of time and effort courting customers.
Resources, finances, and considerable thought go into attracting, drawing, and eventually converting visitors into loyal customers.
However, many companies do not evaluate one of the most important metrics for their locations: how long visitors dwell on property.
Dwell time can be defined as the amount of time that guests spend inside a store or restaurant. Some people also refer to dwell time as “visit length.”
Bloom Intelligence allows businesses to easily track dwell times to improve their operations and increase profits.
The Big Picture
Restaurants and retail companies alike are finding it increasingly necessary to grow customer bases, improve customer conversion rates, and meet customer expectations.
But why should businesses care about dwell times?
1. Increasing Profits
Many restaurants place a high amount of importance into turning over each table two to three times each night.
The more guests that dine at a specific place, the more revenue a location will receive.
Similarly, when retail customers can easily find what they are looking for in a retail location, the more room a store will have for guests entering to shop.
According to Vend, retailers process an average of 482 transactions per store every month.
The more guests can comfortably browse a store over a specific timeframe; the more revenue retail stores are likely to receive.
2. Improving Conversion Rates
If customers have to wait outside of a location or within a line for too long, they’ll leave.
The better that dwell time flows, the more conversions a specific place is likely to receive.
3. Meet Customer Expectations
If a location advertises a quick shopping or dining experience, it’s essential to track the delivery of these expectations.
Likewise, if a place touts exceptional and higher-priced experiences, short dwell times could signal a failure to meet expectations. Additionally, short dwell times could indicate poor conversions.
4. Improved Staffing
According to Toast, 51% of restaurant operators name staffing as a top challenge to success.
Proper evaluation of dwell times can better enable restaurant owners (and retail owners) to determine staff schedules based almost explicitly on peak traffic times.
Better timeclock management can allow operators to manage staffing budgets more wisely, resulting in better money management.
With Bloom Intelligence, dwell time tracking enables businesses to gauge how long customers are visiting. This feature can provide valuable insight into what is and what isn’t working.
The Finer Points
If customers are spending more time on property, they are likely to spend more money.
The longer a customer is on the premise, the better for business.
The list of benefits and reasons for improving and evaluating dwell time is considerable.
Dwell time analytics can help isolate potential problems, which can positively impact the entire business.
How Visitor Data is Collected
Devices, such as cellphones, allow for Wi-Fi detection.
These devices acquire data within a specific Wi-Fi broadcast radius.
The devices detected are registered and denoted as a “visitor” in the Bloom Intelligence dashboard system.
Businesses can track and monitor this data to determine metrics such as the duration of visits and new visitor rates.
Bloom Intelligence catalogs, structures, and monitors data and divides results to produce daily, weekly, monthly, and even all-time perspectives.
Merging these metrics with the duration of visit times creates the average dwell time, resulting in better management insights.
Wi-Fi is A Win for Everyone
It is increasingly essential for companies to track which marketing strategies work and which promotions are the most effective.
Owners can utilize data from Bloom Intelligence to improve customer experience and reveal where businesses can grow.
“Information is power, particularly when the competition ignores the opportunity to do the same.” ~ Mark Cuban
If your competition is benefiting from Wi-Fi technology, can you afford not to? If your competitors are not using Wi-Fi technology, can you afford not to? Whether it is about keeping up or getting ahead, Bloom Intelligence can deliver insights to improve your business. Now that’s power!
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