Individualized Customer Advertising
Advertising to Point of Sale – 2 Clicks
With the advent of the world wide web (www) and the proliferation of media outlets like TV, radio and print publications, it has become increasingly difficult for SME’s (small to medium enterprises) and major organizations alike to reach new customers in a cost effective manner. Companies have realized that the cost of getting a new customer ranges between 5 to 8 times more than retaining an old one. Most major companies know exactly how much it costs them to create a new customer, and conversely how much they lose when they lose an existing customer. As a result, large companies spend a lot of money getting their KYC (know your customer) information. In fact, most businesses have realized that this is a key factor to being successful in today’s competitive marketplace. At the moment, this tool has been out of the financial reach and technical abilities for most SME’s.
In order to gain an advantage in the ever competitive market attracting and retaining customers, companies are spending significant amounts of money trying to find new and innovative ways to market to customers. Companies such as Groupon in the US became billion dollar organizations by simply acting as the conduit between businesses of all sizes and ‘locals’ (customers) by offering discounts on goods being supplied from both retailers and wholesalers . The reason for the high value of these companies is because these organizations own the customer profiles from all the sales made from their promotion. These profiles include the completed sales tranOusaction of what the customer purchased, from which business and for how much. With this information, these organizations (Groupon, Living Social, etc.) can market other products and services according to customer preferences to a customer base that they acquired on the back of a retailer’s sale. And the businesses who actually supplied the goods at significant discounts are left with no customer information after having sold their product/s at significant discounts.
With Hop2It’s Marketing Smart Loyalty program, this all changes. For the first time, businesses of all sizes have access to a software ‘suite’ that enables them to easily KYC and be able to market to their customer base using technology previously only available to the largest organizations. And all this at an affordable price. In addition, Hop2It members can participate in national group buying programs enabling them to market to new customers to grow their customer base. With the Hop2It platform, retailers have both complete control over the quantity of products sold and all the customer information. This creates a truly win/win/win relationship between Hop2It, the merchants and the customers.
The reality is while online shopping has been a boon for consumers, it has come at a significant cost to SME’s and to of businesses have either closed or reduced staffing seeing many full and part time jobs lost to the technology society at large. Many SME’s simply cannot compete with the major corporations, and as such, a lot boom. The Hop2it platform enables these businesses to reverse that trend and compete again at a local, national and for some an international level.