June 2021 marks 21 years of WiFi, arguably one of the most transformative technologies powering our daily lives. It is estimated that there will be more than 25 billion connected devices by 2030 (3x the global population!), powering factories, houses, TVs, phones, even juicers. The evolution of WiFi to the current-day iteration of WiFi 6 underscores the key features that the WiFi Alliance prioritize: higher bandwidth, convenience and ease of use, efficiency, and security.
The inherent strengths of WiFi and coupled with the massive technological upgrades to WiFi 6, enable a wide range of business use cases and monetization opportunities. This will mean that businesses can make the most of their in-store technologies by providing a more seamless and enjoyable in-store experience, while also providing better customer service.
WiFi 6 – What is it good for?
Source: Visual Capitalist
The data explosion is happening faster than our ability to gather, store, and process it, billions of people on Earth, all uploading their own experiences. The need for higher bandwidth, faster speeds, and more security becomes critical in ensuring a seamless customer experience – WiFi 6 aims to address that need.
Driving ROI from WiFi 6
Businesses often struggle with the budgets required for providing WiFi as it is usually an IT cost centre – WiFi 6 also requires an upgrade in infrastructure to avoid bottlenecks and therefore the need for ROI becomes more urgent. With investments from the ground-up, there is a significant opportunity cost as there is no clear strategy on driving ROI from the investment.
Aislelabs has been helping companies leverage their existing Wi-Fi infrastructure for marketing and location analytics for a number of years. With the advent of Wi-Fi 6, we are able to further enhance everything we do, so you can understand and engage with your customers. Nothing changes from a technical perspective for location analytics, customer acquisition, or personalization. Here’s how Aislelabs can drive ROI from businesses that provide WiFi 6 for their customers:
- Data driven leasing: Historical footfall trends to empower business teams in creating a rent index across one location or multiple buildings in a portfolio
- Tenanting: Quantify brand pulling power and through comparative analysis, decide on Tenant Mix, Category Mix and arrangement
- Store performance: Granular store level analytics such as conversions, dwell time, footfall, among others can be used to benchmark performance of each store.
- Benchmarking: Footfall analytics on promotional events and holiday seasons provide not only an indicator of marketing ROI but also a benchmark for future promotions.
- Affinity audiences: Build affinity audiences and understand the cross-shopping patterns with multiple stores and even multiple locations in a portfolio
- Splash page advertising: deliver rich media on splash pages to entice customers to sign up to the WiFi and use this real estate to advertise partner brands, providing a new source of revenue.
- Monetizing digital signage: WiFi 6 can provide immersive AR experiences to digital screens, Aislelabs can measure impressions, conversions, and demographics to truly drive ROI from digital signage.
- Customer intelligence: Capture customer information at scale through splash pages that support login through social, phone number, loyalty program IDs,
- Gamifying splash pages: Run digital raffles and promotions right from the splash page enticing social sign-ons and posts.
- First-party data: Progressively capture different types of customer first-party data such as phone numbers, email, demographics etc. and build a complete view of your customer.