Brands are becoming increasingly aware of the critical local blindspot for measuring their storefronts.
Seattle, Washington (PRWEB) February 21, 2012
Today Venuelabs announced that it is now tracking over 100,000 storefronts in 9 countries. Venuelabs, a location based analytics and marketing platform, provides retail and storefront brands with critical storefront analytics and location intelligence.
The company continues to see dramatic growth in location based consumer activity at retail storefronts over the last 12 months, related to the continued penetration of location aware smartphones and the growth of local consumer services like Foursquare, Facebook Places, Yelp, CitySearch, and Urbanspoon.
Across the more than 100,000 storefronts, Venuelabs has measured:
- Over 41 Million people talking at storefronts
- More than 24 Million interactions at storefronts
- Over 184,000 distinct local, mobile, social sources
- More positive consumer feedback than negative (58% vs 42%)
- 70% of storefronts tracked by the company have a VenueRank under 30
Venuelabs is seeing continued acceleration in customer acquisition, as retail and storefront brands are becoming aware of this critical new customer intelligence at their storefronts. The company reports storefront growth acceleration of over 40% month over month. As a result, Venuelabs has expanded its headcount, doubling in Q1, with plans to double again by Q2 of this year.
Venuelabs patent pending technology fills a critical gap for brands, who up until now could only rely on traditional keyword-based brand and social monitoring tools like Radian6, Visible Technologies, and others.
Keyword-based solutions fall short for retailers because local storefront activity, content and sentiment is not captured or analyzed. This local blind spot is the most critical to monitor and analyze, because it represents customers in store, at the point of purchase. With the dramatic adoption of smartphones and location based applications, this blind spot is growing exponentially. Recently the company released a research study that was conducted with brands McDonalds, Starbucks, Apple Retail, Costco, and others that quantified how large this blind spot is. The study can be downloaded at http://venuelabs.com/download-whitepaper-the-local-blind-spot/.
“There are really two types of prospective customers that purchase our solution,” explains CEO and Founder Neil Crist, “First we have brands that are doing no monitoring at all; they very quickly come to the conclusion that it’s critical they monitor their local storefronts. The second type of customer is using a leading social media and brand monitoring solution, but feels as though what they are measuring is disconnected from their footprint of locations. Those customers conclude that they must use Venuelabs to augment their efforts, insuring that the local storefront perspective is not lost.”
Venuelab’s mission is to connect brands to their local customers, by transforming local, mobile and social consumer content into actionable storefront intelligence and business insight. Venuelab’s storefront analytics and marketing platform provides specialized capabilities specifically designed for brick & mortar, multi-location, retail & restaurant, and franchise brands. Today, Venuelabs platform is tracking over 100,000 storefronts in 9 countries. For more information or to open an account, visit http://www.venuelabs.com/.
VenueRank provides retail and storefront brands with an at-a-glance measure of local store performance and customer experience. Launched in 2011, VenueRank is being used as a local KPI for marketing, operations, competitive analysis, and related functions of large brands, including Jaguar, Juice It Up, Chevron, Little Caesars Pizza and Travelex. To get your free VenueRank analysis, visit http://www.venuerank.com/.
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