Many social media and brand monitoring companies claim comprehensiveness, but do not provide storefront level intelligence.
Seattle, WA (PRWEB) October 25, 2011
Today Valuevine, announced it has become Venuelabs, a location-based analytics and storefront intelligence company, focused on connecting brands to what customers are thinking at their local storefronts.
“In 2009, we launched Valuevine to first help brands reach out and engage their customers using social media," said Venuelabs CEO, Neil Crist. “We did some great work for our customers and learned a lot along the way. One thing we heard consistently from customers and prospects is, how do we best measure local ROI?”
In 2010, the Venuelabs team began developing a new analytics product that gave brick & mortar brands real-time insight into their most critical customer touchpoint - their storefronts. The recent explosion of data about specific locations brought about by people using smartphones to “checkin” has been transformative for brands with storefronts. Marketers who had been effectively flying blind to local feedback can now target marketing programs much more efficiently.
“We decided we had to make this data available for our customers in a way that was easily understandable and just as important, something they could use to weigh the local ROI of their marketing initiatives," added Crist.
The company found the following when they introduced the Connect storefront intelligence offering:
- Recent research showed brands were missing 70% of the local stream of content when it came to understanding customer sentiment
- Prospective customers naturally gravitated toward local monitoring and analytics as a first priority over location-based social media marketing.
- The company experienced massive, exponential growth in the storefront intelligence product while the social media marketing offering grew more slowly.
“It’s a fundamental area that simply wasn’t being addressed. Many social media and brand monitoring services claim comprehensiveness, but do not provide storefront level insight. Brands have a false sense of security, thinking they have a full view of consumer sentiment,” added Crist. “We connect brands to their customers at their storefronts, eliminating this critical blindspot.”
Venuelab’s mission is to connect brands to their local customers, by transforming social media and location-based consumer content into actionable business insight. Venuelab’s storefront analytics software provides specialized capabilities specific to brick & mortar, multi-location, retail & restaurant, and franchise brands. Founded in 2009, Venuelabs proprietary technology tracks customer sentiment at more than 60,000 storefronts in seven countries. For more information or to open an account, visit http://www.venuelabs.com.