Finding ROI Through WiFi Investment
Posted at 19 Sep 2018 - 5 min read
A practical Enterprise Guest WiFi Analytics and Marketing tool empowers marketers to communicate with their customers through the analysis of their visiting patterns, behaviors, demographics, and social preferences.
At IPERA, we receive frequent inquiries about calculating the return on investment (ROI). Our answer typically varies as it depends on the industry in which a business operates. Every business has a unique perspective on the value of a customer. For example, a hotel operator prioritizes building a direct relationship and engagement with guests to increase loyalty, while a health clinic focuses on communicating vital information to visitors, enhancing the clinic experience, and collecting feedback through integrated survey tools.
The role of a marketer has evolved from traditional marketing to digital marketing, and they now need to justify investments with measurable returns when choosing a WiFi marketing platform. The platform helps them assess their investment’s actual value by measuring results such as increased footfall, enhanced customer loyalty, growth of the CRM database, and increased engagement with customers. The Guest WiFi marketing platform serves as an effective tool for marketers to achieve their goals.
Regardless of which business you operate, three key elements contribute to the value that can be generated from your existing Guest WiFi;
- Enrolling to Customer Database when connecting to Venue Guest WiFi
- Increasing Likes / Check-ins on Social Media
- Online Reviews
1. Enrolling in Customer Database when connecting to Venue Guest WiFi
Any new record in your CRM database is a potential customer for the business. How do you value any new potential customer for your CRM?
2. Increasing Likes / Check-ins on Social Media
Social media has a significant impact on promoting businesses through word-of-mouth advertising. Each new like or follow on social media represents a potential new customer for the business. IPERA’s Starling Social WiFi App enhances a business’s visibility by automating check-ins, likes, or follows on social networks. This helps business owners expand their reach by connecting with their friends and their friends’ friends on social media.
3. Feedback & Online Reviews
A positive online review is a valuable form of word-of-mouth advertising that costs nothing. Online review channels can attract new customers to a variety of service industries, including retail, malls, hotels, theme parks, and even public services. Preventing negative reviews and resolving poor service while the customer is still at the venue not only improves the services provided but also avoids negative feedback.
The Starling Guest Experience and Analytics App assist business owners, such as restaurants, theme parks, malls, and hotels, in enhancing engagement, maximizing their investment, and increasing overall profits.
Guest WiFi ROI Value Calculator
A simple calculation is explained below based on customer feedback in retail, malls, restaurants, theme parks and hotel industries.
Monthly new footfall assumed for a medium size venue: 20,000 visitors
Conversion to WiFi Enrolled Customer: 20% of 20,000 visitors = 4,000 customers
Social Logins: 80% of WiFi Connected Customers = 3,200 Social Followers
Online Reviews: 5% of total visitors = 1,000
The estimated value for each parameter (CRM Record, Social Follower, Reviewer) is assumed at $5 at average.
Total estimated monthly revenue is: 4,000 * $5 + 3,200* $5 + 1,000 * $5 = $41,000