By 2019, the location and context-based services market is expected to reach $43.3 billion, Asif Khan, founder and president of the Location Based Marketing Association told Borrell Associates’ Local Online Advertising Conference recently. So it’s no wonder that an IoT vendor would consider partnering with an IoT specialty service provider to capture larger sales.
The most recent pair is Happiest Minds and Tickto. Aside from sharing extraordinarily upbeat monikers, the two offer complementary technologies and services that, together, provide a nifty retail solution.
One of the largest challenges facing brick-and-mortars is in collecting and analyzing customer trends. E-commerce retailers have an advantage with the cadre of software tools available to help them promote, sell and analyze their sales. Until relatively recently, brick and mortars had to play catch up largely using feedback from associates and manually kept records. However, with beacon and proximity management offerings now readily available, solution providers can help their retail customers crack the customer code.
The Happiest Minds-Tickto deal melds Tickto's offering of in-Store IoT, beacons-based customer engagement and visitor analytics with Happiest Minds digital transformation services. Happiest Minds offers infrastructure, security and product engineering services. Its goal is to increase customer retail engagement via Bluetooth-based beacons, and improve customers’ omnichannel fulfillment, build brand loyalty and increase store revenue.
“Every offline store needs big data solutions to trace a customer's purchasing journey and our technology will help retailers gain multiple insights into store design, behavior, product placement etc.,” said Tickto’s founder and CEO Sudip Roy, in a statement. Added Salil Godika, Chief Strategy and Marketing Officer and Retail Industry Group Head of Happiest Minds: “Retailers are interested in unlocking insights and engaging with customers by leveraging in the moment 360-degree view. Our partnership with Tickto will help retailers rapidly improve their customer buying and in-store experience. The joint solution will improve conversion across channels with a path to purchase insights.”
That conversion will lead to greater customer satisfaction as associates become more knowledgeable about customer tastes, which, ultimately will lead to greater revenue.