Make sure you Don't Make LBS About Coupons and Discounts

Make sure you Don't Make LBS About Coupons and Discounts

I can see big communities of people alter how a store operates or what it sells. A wikistore? Stores are constantly doing marketplace research to find out what their customers want. Why not just let them define it for the store?

Instead of focusing on discounts and coupons through check-ins and emails, how about we focus on getting customers input into how these companies are run, what they sell, when the items are obtainable, store hours, etc. ?

Some of the present LBS apps offer customer suggestions and reviews, but these do not provide the really quantitative information required to make solid business decisions. For instance, the local pizza shop might not offer wheat dough pizza or perhaps the store closes to early. Is one or two negative reviews about this sufficient for the store owners to change their inventory or operations? Not an opportunity. With out quantitative information about the accurate demand for new products, or data on the potential market size for late night pizza orders, these business owners will not adapt to their customers' requirements.

There is a reason that most coupons aren't trivially simple to discover or redeem. By trading effort for a discount, the marketer says, "if you care about price, I'll sell it to you cheaper, but you've to prove it." Hence the original idea behind Priceline. It was intentionally awkward to make use of to ensure that the airlines could be confident that only the fare-obsessed would use it.

"Outlet" malls are just coupons in disguise. There is a reason that Armani does not have an outlet store on Fifth Ave. in NY. The drive is your way of proving you're serious about cost.

The second benefit is that they provide the shopper with a totem. Paper coupons are greatest, but even digital codes work. With something tangible in hand, the shopper feels as though they've the power to go make an exchange. It's not just about trading cash for the object or service. It's about trading in this thing I've in my hand (or pasted onto my clipboard). If I don't purchase the factor, I've just lost the value of my totem. Now the buy is not just about spending money... it is about realizing the value of a thing I possess--or losing it forever.

To do this, the next phase of location based services should measure the behaviors and demands of clients. Analytics and A/B testing tools allow websites to do this with fantastic precision. Location based services should aim to obtain local brick and mortar businesses this exact same insight about their customers.

This will allow companies to optimize their operations and seize opportunities that otherwise would be missed. At that same time, this will provide clients with companies that evolve to suit their requirements, neighborhoods will have restaurants that may quickly adapt to local tastes, and shoppers will have stores that better comprehend their accurate demand and allocate their store shelves appropriately. Sure present LBS apps are letting local companies form communities around their companies, but until these communities have a say in how companies operate, LBS will turn out to be absolutely nothing more than entertaining coupon circulars.

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