Top features of ClicFlyer Brand Analytics Tools
Suppliers and manufacturers run promotions and discount campaigns at regular intervals to boost their sales and to offload their stocks. But one requires proper planning and actionable, credible data to plan the promotional activity to attract more customers without increasing their customer acquisition costs. Here is where ClicFlyer brand analytics tools would prove more effective for retail businesses. Let us check out the top features of the business intelligence tools from ClicFlyer, which would help real businesses.
One of the main features of the ClicFlyer brand analytics tools is that it helps with business intelligence. The brand analytics tool provides intelligent insights on the vital aspect of the business based on the collated data. This feature allows you to make crucial decisions that are necessary for the sustainability of the business.
With the ClicFlyer brand analytics tools, you can:
Know The Recent Promotions Run By Your Competitors In The Market:
The business intelligence feature of the brand analytics tool collates data on the recent promotion campaigns run by your competitors in the market. It also analyses the response generated by these campaigns. The tool then analyses the data and provides intelligent insights that help you create and run better promotion campaigns for your business, and hence, pull in more customers towards your business.
-> Know The Retailers And The Brands They Patronize:
Every retailer focuses on a particular brand. They sell most goods from that brand to reap more profits. But, as a competitor, how will you come to know which brand the retailer patronizes more, and what is their response? The answer is a brand analytics tool. The business intelligence feature collects all the data related to the sales and business done by your competitor retailers. The tool then analyses the data to determine which brand is patronized by each of your competitor retailers. This data helps you create your unique identity, which will help you attract customers to your business.
-> Know About The Products On Which The Promotions Are Run By Your Competitors:
The business intelligence feature of the ClicFlyer brand analytics tool allows you to get information on the type of products sold by your competitors and the kind of promotions run on these products, including the package sizes made available for the promotions. This information will help you prepare an effective promotional strategy by offering a better value to your customers in comparison to your competitors. This aspect, again, will help you pull more customers into your business.
The OFFER STATS dashboard provided by ClicFlyer offers the latest and real-time information on the promotion campaigns of the top brands run by the market’s biggest retailers and dealers. Plus, it provides you with real-time details about the retailer’s association with a particular brand and the extent to which the promotion campaign is being run by the retailer.
In business, it is crucial to determine that sweet spot of pricing. Your product or service cannot be priced so high that it drives the customers away. Nor can it be so low that it irreversibly damages your bottom line.
To get that exact win-win price, make use of ClicFlyer brand analytics tools to:
-> Know The Promotional Price Of Competitors For The Same Or Similar Products: The business intelligence tool will collect different forms of data from your competitors. It will then create an interactive report on the business practices implemented by your competitors, including the promotional price on the different products. This information would help you plan effective promotional pricing on your products to attract more customers to your outlet.
-> Know The Promotional Pricing Mechanics Of Your Competitors: With the help of BI analytics and BI reporting, you would not only know about the promotional pricing launched by your competitors, but you would also gain knowledge and information about their pricing mechanics, such as multiple buying offers and discounts. This data will enable you to plan your deals efficiently to command more attention from the customers.
-> Position Your Brand As Per Data: Brand analytics tools help you collect adequate data about brand penetration and the likeability of the brand among the customers. This information will help you effectively plan the pricing of your brand’s products according to their brand perception and the available stocks.
Optimize Your Product Discounts:
BI analytics and BI reporting allows you to collect adequate data about the business practices introduced by your competitors. This data will help you optimize the promotions and discounts on your products, which would improve customer's footfalls in your retail store and boost your sales, and will ultimately create a positive impact on your bottom line.
Timing The Promotions Right
For any retailer, in order to attract the most number of footfalls into the retail store, it is extremely important to correctly plan the timing of the promotions. Different retail manufacturers and suppliers plan their promotions during the specific days of the week, month, or season. More importantly, they plan their promotions in the lead-up to a major festival season.
Now, every retailer would be eyeing this period to introduce their promotional offers and discount pricing. Therefore, it is important to perfectly plan exactly when you would introduce your promotional offers and pricing in the market. If you introduce your promotions too late, then chances are that the consumer would have already purchased the required items in bulk, and they may not want to indulge in another discount purchase. Brand analytics tools will help you collate data from past promotional campaigns and provide you with interactive and actionable insights with the help of which you could time your promotions perfectly to attract the most customers.
These are the top features of ClicFlyer’s business analytics tools. You could effectively use the tools in your business to improve your sales performance during brand promotions.
If you want more information about BI reporting and BI analytics, then you must visit ClicFlyer today.