Steve Rothwell, founder of the UK’s leading provider of digital consumer engagement solutions, Eagle Eye, on the solutions that are available to retailers and some examples of the solutions in action
Finding business solutions through digital can be perceived to be a dramatic endeavour. Keeping up with the pace of change in consumer behaviour can be a full time job and often, by the time a new solution is found, a new challenge has presented itself.
Digital innovation has changed the modern consumer and affected the customer journey. Having access to multiple devices (communications regulator Ofcom last week said UK adults spend an average of eight hours and 41 minutes a day on media devices – including phones, tablets, computers and games consoles) has enabled them to unearth the best deals, faster than ever before.
The good news is that it’s actually easier than you think and a digital solution won’t just help you to keep up with the consumer, but can benefit the business in multiple areas, without the need for significant investment or disruption.
- Addressing operational efficiencies
- Staff processes in place for counting and reconciliation of existing paper schemes can be costly and time consuming, embracing a digital counting solution (of paper vouchers) can be particularly beneficial to tier one retailers who redeem high volumes
- By replacing paper vouchers with digital ones, retailers can experience an even more significant saving on operational costs, saving time on printing and distribution costs
- Since 2012 we have been digitising rewards for Tesco’s 11m Clubcard members by Integrating with the Tesco Clubcard site to issue digital vouchers. The solution has provided operational savings by eliminating paper voucher production and distribution as well as reducing voucher fraud through unique code issuance and secure, digital in-store redemption.
- Eliminating fraud
- With a market worth an £1.8bn in supermarkets alone, misredemption and voucher fraud can be a serious issue. This is the reason why we use a ‘single use code’ for each offer issued by our partners, which means each voucher is effectively ‘burnt’ upon redemption
- Our partners have reported a dramatic reduction in fraud in their outlets as a result of the single use codes. This month we enabled One Stop to issue and redeem these unique codes. During the redemption process, the basket is checked to ensure the qualifying items are being purchased. This validation system, along with the unique code, means that it is impossible for mal-redemption to occur at the point of sale
- Increasing footfall and loyalty
- One of the benefits of a digital solution in redemption of offers is access to the data being collected each time an offer is redeemed. Basket analysis enables retailers to send targeted relevant offers through the customer’s preferred channel
- Our recent implementations enable our retailers to have ‘a single customer view’ meaning they can use the consumer insight data generated to deliver a personalised shopping experience with offers that are bespoke to a customer’s interests and preferences thus increasing customer engagement, driving loyalty and increasing revenue. Simple, yet effective
- Implementing a digital stamp card can facilitate rewards based activity straight to customers and is trackable. High street baker Greggs launched its rewards app in partnership with Eagle Eye. The app uses the Eagle Eye Air to provide Greggs customers with a loyalty/rewards scheme and the option of a prepaid account
- The application rewards Greggs’ customers for their loyalty whilst enhancing their experience through the convenience and speed at which they can make purchases using their smartphone
4. Multi-channel engagement
- Multi-channel engagement starts with the right tools that are fully integrated to create campaigns, issue across many channels and validate redemption across many channels. By investing in an integrated solution that works in real-time partners are able to adjust campaigns in real time based on actual data ensuring that profitability and customer satisfaction are maximised.
- Our system enables partners to offer issuance and redemption schemes across multiple channels. We can enable integration through existing CRM, email, SMS or even socially driven promotions. It is important to give the customer choice and to allow them to interact in their preferred channel.
- Multi-channel is about more than just looking outside the business. Our platform Eagle Eye AIR allows retailers to cross channels into other non-competing business communities. For example, we’ve enabled Tesco Clubcard and Pizza Express customers to exchange their Clubcard points for digitally-delivered vouchers that were instantly redeemable at the restaurant. Our unique network structure makes mutually beneficial arrangements of this nature possible
5. Real-time reporting
- One of the primary functions of our software is to enable the launch and monitoring of campaigns in any channel and an instant display of its success based on profits and behaviour. Retailers can take advantage of stock levels, location and even adapt to weather conditions e.g. on a hot day they can create a promotion on ice creams – maximising engagement and making the offer relevant to the situation.
- Eagle Eye enables real-time tracking so that campaigns can be adjusted to suit the specific situation and their customers. Pizza Express take advantage of this capability by using Eagle Eye AIR to issue vouchers for specific restaurant locations that are less busy, giving Pizza Express the ability to control footfall and increase engagement where necessary.
- Reporting back to departments within the business to demonstrate value can be a challenge. Our platform ensures that digital marketing spend is tracked and the ROI is monitored, adjusting campaigns accordingly to maximise commercial benefit. This can also mean that if you are ever required to justify the activity, the information is at hand to do so
For more information, visit www.eagleeye.com
A Retail Times’ sponsored article