It’s no secret that mobile has transformed consumer behaviour and expectations to create what is now known as an Engagement Economy. The premise behind this perfectly succinct term, coined by Marketo, is that, “we are living in a new era — a digital future where everyone and everything is connected.” What may have once influenced consumer buying behaviours has changed and in its place is the Engagement Economy, where the ability for brands to build personalized and authentic relationships with their customers is crucial.
The evidence of this can be seen in the success of companies such as Netflix and Amazon whose abilities to curate personalized content based on the changing interests of their customers has changed the way companies engage with consumers and vice versa. This new state of affairs is reflected in a recent Wunderman study that states that “79% of consumers only consider brands that show they understand and care about them.” In other words, companies that can demonstrate a knowledge of their customers’ needs and then engage with them in a meaningful way will earn their dollars.
While the implications for industries such as retail and travel are already being felt, the impact on visitor attractions may not be so clear cut. Netflix employs a complex algorithm in order to display curated content to a logged in user. How is a water park, for example, supposed to know who their guests are, let alone what slides they like to ride or what kind of food they like to eat? You find a platform that does.
A platform that empowers guests to personalize their visits, while in the background is learning what they like and how they behave in order to better tailor experiences to their interests. It’s this ability to acquire customer insights on both active (food purchases) and passive (venue navigation) behaviours combined with demographic information that will allow a visitor attraction to connect with their guests through personalized experiences and customized offers.
The Vantage platform gives guests the ability to plan their visits, see wait times, find friends, earn points, and then redeem those points for things they like. Vantage collects this data to show operators what demographics are buying, what their favourite attractions are, and how long they stay in the venue. Venues can then leverage this behavioural data to show demographics promotions for items they’re known to like, thank them by name when they make a purchase, and play their favourite music when they enter an attraction.
As the prevalence of digital grows, by giving guests the same level of personalization and interaction they’ve grown accustomed to, you’ll help to drive their satisfaction, online endorsements, and repeat visitations. The numbers don’t lie: 67% of customers say their standards are higher than ever (source: Salesforce). 93% of companies with an advanced personalization strategy saw revenue growth while 0% of business with an advanced personalized strategy experienced revenue loss (source: Monetate). A 5% increase in customer retention produces more than a 25% increase in profit (source: Bain & Company).
As consumers now expect more, visitor attractions that demonstrate an understanding of guests’ needs and provide personalized interactions will establish positive brand sentiment and loyalty. Creating exceptional experiences for visitors doesn’t need to be difficult and with Vantage it isn’t. In this digital age, companies need to keep up with ever-evolving consumer expectations or risk being left behind.