What is Beacon Technology and how it’s benefiting business?

Technology

What is Beacon Technology and how it's benefiting business?

According to research published on Kontakt.io, it has been observed that an approximate of a hundred and thirty-three percent is the milestone pertaining to the CAGR growth from 2016 to 2021. This shall be due to the benefits of beacon technology.

The concept of beacon technology

The next question is mind is, ‘What is Beacon Technology?’

Beacons refer to the small transmitters. They are wireless instruments. They send signals to other smart devices by using Bluetooth technology.

They are known to be the best development in the field of location technology. It led to an advanced step in proximity marketing. They are used to connect smart devices that are located nearby. They are applicable in transmitting information.  They provide ease to location-based searching. It provides easy, simple and accurate interaction.

The working of Beacons

The working of the beacon device is very simple. It includes a CPU, radio, and batteries.  It does continuous broadcasting. Every device has to pick one identifier. Every smartphone recognizes a unique ID number to work. That number is called the identifier. This number is important for the smartphone to be connected.  After getting connected, the beacon starts functioning.

History of beacon technology

Have a look at the timeline of beacon technology

  • It was 10th June 2013 when Apple introduced iBeacon. It was launched as part of iOS 7. The event took place at the World Wide Developer Conference (WWDC 2013).
  • It was Titan installed 500 beacons in Manhattan phone booths. It did that to fulfill their maintenance objectives. It is a matter that happened from 1st September – 10th November 2013.
  • On 6th December 2013, Apple again launched beacons. Approx 254 US shops got access to it. It aimed to provide in-store notifications to their customers. All the details regarding items and product reviews were easily given to them.
  • By 31st July 2014 over 50 Top 100 US retailers had beacons in their shops.
  • On 12th August 2014, 3 UK used this technology. They aimed to offer prizes to their customers. Afterward, all the customers were tracked. This was a part of their personalized marketing strategy.
  • On Aug 2017 Bluetooth stated that beacon technology is going to be very advantageous. Since then this technology became the base for many online things.

Presently it has benefitted many people answering the question, ‘What is Beacon Technology?’

The benefits of Beacon Technology

The benefits of Beacon technology make it seamless and easy to use.  It has been developed with many applications. It is known to have too much potential. Very few functions were available initially. But with time, advancement took place. And now there are many advanced functions.

Given below are the benefits of Beacon technology

  • Now you can get many useful insights. You just have to connect your beacon signals to your Google Ads account. It is feasible now to track customer’s visits. Many businesses are getting benefitted because of this online advertising effort.
  • No one ever knew the capability of out-of-store marketing. It was in 2013 when this technology was launched and it changed the picture. This sort of marketing is apt for the right businesses. And marketers who are willing to invest in it can do so.
  • Now you can easily communicate with your potential customers. You can transmit any important data to them.  With this technology, you can send data to the devices that are within your location.
  • You should definitely use this location-based technology. You will be highly benefited.  You will make the best result because of out-of-store marketing. You will generate a good amount of profit.  You will get more and more customers.
  • This kind of Bluetooth technology is a boon for present-day marketers. It has brought improvement in the working of technologies like GPS and WiFi. It comes with great accuracy. Being a businessman, you will get reliable information. You can easily track customers.
  • You can use this data to improve your quality. You will easily judge the behavior of your customers by using this technology. You can organize many unique marketing campaigns. You can improve your in-store conversions.
  • It is worth mentioning that beacon tracks the companies.  You can use it to have a check on your business. Use beacon to get more information. Have a constant eye on check-ins. You will be updated constantly.
  • It is fruitful for consumers also. Beacons improve their experience. It gives them to have a personalized interaction with the marketer. They get to know about various ads and offers. They get a variety to choose from. It has enhanced the customer-marketer relationship.

Industries which are using this technology

The global Beacon market will grow at a high pace. Businessmen know this. So, they are trying their best to make the best possible use. They want to get a more valuable response from their customers. The industries that are getting so many benefits are given below. Have a look

  • Retail sector: Retail businesses such as Walmart, Macy’s, are interested in investing in this technology.  They are willing to do so to be able to improve the shopping experiences of their customers.  Now, they are capable of providing more loyal programs to their regular customers.
  • Hotels and Hospitality sector: This sector has to ensure a good customer experience. With the advancement in technology, this sector is relieved.  People are getting more personalized and contextual service. The firms are getting numerous advantages. They can easily navigate. They can do smart promotions. They receive good feedback.
  • Tourism sector: Well, this sector has beautifully and smartly used this impressive technology. They are always questing for new ways to impress their passengers. Now, they successfully engage their passengers. They get connected to them easily. This technology has proved to be helpful for passengers. They get important information easily.
  • Banking sector: This sector is using this technology to give a good experience to their customers and the staff. They easily communicate with them. They give them timely updates.  They constantly check the analytics of the bank. They are now accepting mobile payments. All this has resulted in an improved standard of living of people.

The bottom line: So, this technology can be said to be very advantageous. It is helpful for business and customers. The merits of the Beacon technology are given below.

  •    It notifies customers
  •    It gathers required customer information
  •    It improves customer response

What is beacon technology?