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Industry Benchmarks Show Strategic Importance of Local [Infographic]

Today, in partnership with the Location Based Marketing Association, Venuelabs is releasing our first in a series of quarterly industry benchmarks. Certainly if you have heard myself or anyone at Venuelabs speak at conferences, you know how passionate we are about explosive area of local. Merchants, both large and small struggle to connect with understand the true local customer experience. As these benchmarks show, the local customer experience is highly measurable, but is also missed by most businesses – something we call the local blind spot.

Local: The Intersection of Customer Experience and The Brand Promise

In 2012, we saw location-based consumer engagement grow by over 500%, and that trend continues to accelerate. Every day, at a single location of Starbucks, Target, Pizza Hut, and others –  the local consumer experience intersects with the brand promise. Some brands create a brand expectation that is met and sometimes exceeded at the point of customer interaction, while others fall short. Venuelabs is an a unique position to illustrate these relationships.

Just the Beginning

These benchmarks are just of the beginning of a series of big data insights that we will be sharing to the industry going forward. Late last year, Venuelabs made a big investment with the establishment of a data science team. The team’s charter is to not only look across the 300,000 locations in 190+ countries that we monitor today, but also to expand our view to include brands that represent key industry verticals. Due to this commitment, you can expect a special focus and regular cadence of  benchmarks, research, insights, and analysis going forward.

The first quarterly benchmarks can be found below:

Retail Benchmark for Local Customer Experience (Q1 2013)
QSR Benchmark for Local Customer Experience (Q1 2013)
Fast Casual Benchmark for Local Customer Experience (Q1 2013)
Hotel Benchmark for Local Customer Experience (Q1 2013)

 

Here is a link to the press release.