Nov 09 2018

Understanding Locally Analytics and Business Insights

By Mike Massey   Founder / President

Most small brick and mortar retailers aren't used to having access to deep market insights and consumer behaior data at their fingertips. But, ecommerce retailers, big and multichannel brands, and larger format chain stores have long understood the value of personalized marketing, supply-chain replenishment, and perpetually optimizing their local product mix. Locally exists in a unique position of having far more geographically-relevant market data for you to use in your business than any other single resource.

The goal of this post is to help each of our retailer clients think about how they can use this firehose of local consumer data to better serve their customers.

Start Here:

https://www.locally.com/station/panel/all_usage/create
You can also access this URL by clicking the left blue arrow when you are logged in to Locally.com and then choosing Insights.

Locally Analytics Dashboard

The first thing you will see is the dashboard. Some options may or may not be restrained for your user type or store location. Here's a few popular reports that will give you rich insights with little effort. Please notice that as you click different areas, the data being presented changes.

Now, look at the far left box, "Product Locator Impressions."

Product Locator Impressions

This is the count of the number of times a brand's product page (PDP) has been loaded within 50 miles of your store and triggered Locally's Product Locator tool. Locally’s Product Locator registers an impression (+1) every time a product page on a brand’s website is loaded, regardless of whether or not the Product Locator is clicked. It is effectively the number of total product page loads on brand sites in your store’s area (50 mi radius).

Most importantly, the tool provides us with insights into exactly what your customers are looking at online.

Now, let's review how many shoppers are clicking the Product Locator.

Product Locator Clicks

The chance a shopper will get in their car and visit your store skyrockets if they click the Product Locator. We see a tangible relationship between the number of times users in your area are clicking the product locator tool and visiting stores and/or reserving the product via "Buy It Locally". According to Google, presenting real-time inventory information online increases the shoppers likelihood of visiting your store within the next 24 hours by as much as 70%! So, this is an important number to watch.

Next up, let's look at Dealer Locator Views.

Dealer Locator Views

This shows you how many individual times a Locally-powered Store Locator was loaded on brand sites (within the time span you defined) in your store’s area (again, this is always limited to a 50 mile radius). This is an important number. It shows the total number of people who have opted to go to a nearby store to complete their purchase. These are "hot leads" for you.

** Most of our brand clients see 1-2% of their site's visitors actually make a purchase, but 20-25% of their visitors will use the Store Locator.

Continuing to Locally Pages...

Locally Pages

Many of our retail partners have opted to use Locally Pages on their own websites and Facebook pages. It can also be connected to our our "Buy It Locally" transaction engine for in-store pickup. When used in conjunction with retailer marketing efforts, this tool can provide a landing page (or pages) with concrete stock information to drive significant transaction and foot traffic volume. This number is an easy way to track your marketing strategies and see their payoff with local consumers in terms of engagement on your site (vs on a brand site or locally.com).

Brand Opportunities

Brand Opportunities

Locally works with over 200 brands. For most, we track brand popularity in your city across the entire Locally network. Scroll down from your main analytics page to access a ranking of brand reach in your city. Rarely are retailers not shocked when they discover that their assumptions about brand popularity are not actually what is happening online. Download the file to get a comprehensive ranking.

Product Opportunities

Product Opportunities

Lastly, we keep track of the popularity of products based on counting product page (PDP) loads. Rather than looking at data that's 60-90 days old and not geographically relevant, our data is real-time and happening right near your store. Browse the top ten for holes in your inventory offerings, or dig deeper by downloading the entire list of 500 most popular products.

Look for more ways to optimize your business with Locally coming soon.

About Mike Massey

Mike is a third generation retailer and owner of Massey's Outfitters. The idea of Locally grew out of a need to market in-stock products to nearby online shoppers and accept transactions from them. At Locally, Mike is the head of strategy, operations and partnerships.  View all posts by Mike

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