article thumbnail

The Potential of Geolocation for Revolutionizing Retail

Harvard Business Review

Heat map data can then be used to compare stores and departments (or theoretically, even create rankings of employees) which all could be used to optimize the retail experience for particular customer segments. Today’s brick-and-mortar retailers are in an arms race with pure-play online competitors for the hearts and minds of customers.

Retail 8
article thumbnail

What Apple, Lending Club, and AirBnB Know About Collaborating with Customers

Harvard Business Review

Today, however, by exploiting new digital technologies, firms like Apple, Lending Club, and AirBnB have made customer co-creation of value central to their business models and in doing so now rank among the world’s most innovative and valuable firms. These four types of customers represent different levels of brand affinity: 1.

CRM 8
article thumbnail

How Location Analytics Will Transform Retail

Harvard Business Review

The ability to identify, track, and target customers in physical locations will enable companies to extend preferential status and rewards to customers based on their behaviors, rewarding them based on the number and frequency of visits, where they go in venues, and their exclusive loyalty (i.e., not visiting competitor venues).

Retail 9