Guest WiFi is more than just a convenient service; it's a strategic asset for engaging and understanding your customers. Explore the multifaceted world of revenue generation through Guest WiFi:
Ad Space Selling: Turn your WiFi portal into a vibrant advertising billboard.
Data Gathering: Here’s where the magic happens! By gathering contact data, unlock the door to personalized customer outreach. Imagine being able to connect with your customers through SMS or email, sending tailored messages and offers directly to their inboxes.
Business Analytics: Harness the power of WiFi data to fine-tune your business strategies.
Marketing Campaigns: Leverage customer insights for highly targeted marketing initiatives.
Direct Payment: Offer premium WiFi access as a paid service.
Special Focus: Data Gathering as a Revenue Stream In retail and transportation venues, data gathering is key. It’s not just about collecting email addresses or phone numbers; it’s about opening a direct line of communication with your customers. Use this data to send them personalized updates, exclusive offers, and more. This approach not only enhances customer experience but also drives engagement and loyalty.
This calculator is designed to estimate the Return on Investment (ROI) for providing guest WiFi services at various establishments. It calculates the marketing value derived from collecting contact data of visitors who log into the WiFi network, with their consent.
Venue Type: Different types of venues are designed for different purposes and therefore naturally attract different volumes of visitors. For example, transportation hubs like airports and train stations are high-traffic areas due to their nature, while a local restaurant or small boutique caters to a much smaller, localized crowd.
Venue Size: The physical size of the venue plays a significant role in determining the number of visitors it can accommodate at any given time. Larger venues, such as big shopping malls or sports arenas, have the capacity to host a larger number of visitors, thereby potentially increasing the total number of daily visitors. In contrast, smaller venues like a café or a small retail shop will naturally see fewer visitors due to space limitations.
Percentage of Logged-in Visitors:
Dwell Time and WiFi Usage: The amount of time visitors spend at a venue directly influences their likelihood of logging into the WiFi network. Venues where visitors are expected to stay for longer periods, such as hotels, cafes, or libraries, will typically see a higher percentage of WiFi logins. This is because visitors in these settings are more likely to need or want internet access for various activities like work, leisure, or social interactions.
Short vs. Long Dwell Time Venues: In venues with inherently shorter dwell times, such as quick-service restaurants or convenience stores, visitors are less likely to log into WiFi, as their primary goal is often quick transactions or purchases rather than spending extended time at the location.
Value of Contact Data Record with Consents This is the estimated value of each contact data record obtained, assuming the visitor has given consent for marketing purposes. The concept of "Customer Lifetime Value (CLV) * conversion rate" is an approach used to estimate the monetary value that a new customer conversion brings to a business over the entirety of their relationship with the company.
Here's how it works:
Customer Lifetime Value (CLV): This is the total amount of money a customer is expected to spend in your business during their lifetime as a customer. It's an estimation of the net profit attributed to the entire future relationship with a customer. For example, if a customer is expected to spend $100 over the time they remain a customer, the CLV is $100.
Conversion Rate: This represents the percentage of potential customers who convert into actual customers. For instance, if 10% of people who visit your website or store end up purchasing, the conversion rate is 10%.
Multiplying CLV by Conversion Rate: To find the value of a new customer conversion, you multiply the CLV by the conversion rate. Using the given example, if the CLV is $100 and the conversion rate is 10%, the calculation would be $100 * 10% = $10.
This calculation suggests that every new customer conversion, on average, contributes $10 to the business in terms of the net profit over the customer's lifetime. This metric is crucial for businesses to understand how much they should spend on acquiring new customers and what the return on investment (ROI) is for their marketing efforts. It helps in making informed decisions about marketing budgets, strategies, and customer relationship management.
Please note that the value takes into account typical ratios of new versus returning visitors.
The results provided by this calculator are estimates and should be used for informational purposes only. Actual values may vary based on numerous factors, including but not limited to, visitor behavior, local market conditions, and specific business operations. It is recommended to conduct a thorough analysis or consult a professional for a more tailored assessment.
Please read the following waiver of responsibility carefully before using the Guest WiFi RoI Calculator ("Calculator") provided on this website.
By using the Calculator, you acknowledge and agree that:
1. The Guest WiFi ROI Calculator is provided for informational purposes only. The results may vary widely and differ by orders of magnitude based on many business factors specific to individual operations. We offer no guarantees regarding the reliability or accuracy of the results.
2. "This tool is intended as a general guide to help businesses estimate the potential ROI from guest WiFi services. It should not be used as the sole basis for making significant business decisions. Users are advised to conduct their own research or consult with professional advisors for specific advice."
3. We make no representations, warranties, or guarantees as to the accuracy, reliability, or completeness of the information provided by the Calculator. Any reliance you place on the information generated by the Calculator is strictly at your own risk.
4. Neither the author of this article nor AVSystem shall be held responsible or liable for any errors, omissions, or inaccuracies in the Calculator's results, or for any actions taken or not taken based on the information provided by the Calculator.
5. You release, indemnify, and hold harmless myself and any affiliated parties from any and all claims, damages, losses, or expenses arising out of or in connection with your use of the Calculator or any decisions made based on the information generated by the Calculator.
6. You have read and understood this waiver of responsibility, and you accept and agree to be bound by its terms and conditions.