Commerce 360 is an application developed by BBVA to promote the digitalization of SMEs. It provides statistics on sales, trends and behavior of the sector. The data is collected through payments made at point-of-sale terminals. This information allows merchants, among other things, to optimize resources, design marketing strategies and make decisions.
The application relies on Big Data to provide, in a completely oman b2b leads anonymous way, key elements about the behavior of your customers based on their commercial activity. The information is presented monthly on the web platform through graphs, competitor analysis and even interprets the data obtained and sends you suggestions for commercial actions.
Commerce 360 follows a similar model to Google Analytics but applied to SMEs that own physical stores, and that until now tended to operate in a rather intuitive way regarding the needs of their customers and the behavior of their competitors. They now have the advantage of having more precise statistical information.
This application provides you with a market study with data on purchases made with the point of sale terminal of your business and your competition, with which you can, among other things:
Determine how many new customers you have acquired and how many loyal customers have returned.
The age and gender of the majority of buyers in your industry.
Analyze the days and times when most sales are made in your area and your industry, as well as purchasing patterns in other areas.
Learn about the number of similar businesses nearby, their hours, and their prices.
Study various demographic segments and locate the areas of origin of your customers.
Determine the customer spending share; that is, the percentage that each person spends in your business compared to other businesses in the sector.
With all this information, it is possible to identify opportunities and take marketing and commercial actions, for example: determine your target audience, make changes to schedules based on days and times of greatest movement, launch marketing campaigns toward demographic segments with potential, adjust prices, determine the best area in case of changing location or opening a branch.
Commerce360 ’s primary goal is to make data technologies previously only available to large enterprises available to SMBs in order to increase their profitability, grow and improve the final customer experience.