Imagine you walk into a store to buy grocery. You are standing in front of the Yogurt aisle thinking about what brand of yogurt to pick. You notice a QR code on the aisle, you scan the code. A customized coupon is shown to you for a yogurt available on the shelf. The coupon has been generated by an intelligent platform that knows your taste, budget, history, etc . You can decide whether or not to buy the brand and use the coupon.
Looking behind the scenes, the platform has had a significant impact on all parties involved:
By knowing you, the customer, it has provided you with a customized offer that you are likely to enjoy and benefit from. As in, if you are an organic buyer, the platform knows and the coupon reflects that, or if you have never purchased a yogurt before, it can predict what you might like based on your taste profile and that of other customers. In short, it has provided you with a self-initiated customized hassle-free point of decision interaction. You don't have to spend your time clipping coupons, looking for coupons online prior to going shopping, or hanging on to the coupons they give you after you checkout every time.
The yogurt manufacturer has managed to capture the attention of a person interested in buying yogurt, at the point of decision. The platform provides aggregate anonymous data to the manufacturer, so they can accurately measure the effectiveness (ROI) of their different promotion campaigns at the point of sale, in terms of resulting in a purchase or better yet, resulting in loyalty conversion on the long run.
The retailer has managed to provide a better experience for both customers and suppliers and to monetize customers' attention, and its in-store foot traffic. In particular, the platform provides an automated mechanism for the retailer to charge suppliers for showing their promotion to interested customers at the point of purchase. Retailer can measure how many of the promotions shown to customer resulted in purchase, both in the long term and in short term, and thus charge the suppliers accordingly per-purchase or per-loyalty conversion.
Accenture is well positioned with a patent-pending technology to bring this to reality in the near future, to a store near you!
This post described one possible realization of this idea. The same concept can be delivered using non-QR code alternative technologies such as Bluetooth Low Energy (BLE), NFC, displays, scanners, etc. Read the point of view to find out more and contact us at Accenture Technology Labs to discuss this further.