Steve Rothwell, founder and CTO of Eagle Eye Solutions, on creating value through a network
Networks are the ties that bind us. A good network is capable of bringing together completely different elements to provide a solution capable of meeting a common goal. A simple example of this is a telephone network which becomes more valuable as more people access it:
This theory works in retail too. There can often be a misconception that the aims and objectives of brands and retailers exist independently of one another, when in fact they often have a crossover which can be met through a network.
One only needs to look at successful loyalty programmes and credit card collaborations, both of which demonstrate the effectiveness of networks in action.
Consider Nectar, the UK’s largest loyalty programme, for example. It has over 19 million cardholders and is comprised of a network of 500 retailers, providing consumers with rewards in exchange for loyalty points accumulated.
At the core of American Express’s success is its network of partner brands and retailers, providing card-holders with rewards, incentives, and offers that are personalised and exclusive to Amex customers.
Networks have the power to open up new lines of communication between brands and retailers that can enable them to achieve common objectives, namely the driving of sales, increasing of loyalty, and gaining a deeper understanding of their collective customer base.
With so many consumers, multiple digital channels and a high volume of outlets and brands, managing these exchanges digitally can only be done through a network, to provide the links, monitoring and consistent consumer experience. Our Eagle Eye AIR network does just that.
The Eagle Eye AIR network for Coke Zero
The case study example demonstrates the ease through which a brand such as Coke has been able to run a successful campaign through our network in conjunction with two leading high-street retailers and shows the ability in real-time to monitor the effectiveness of channel marketing spend. It also demonstrates the simplicity of the AIR platform and its ability to deliver an offer through multiple channels that is redeemable in numerous retailers, with parameters that allow all parties to achieve their goals. In short, it’s win/win for all.
Tesco Clubcard Boost Programme is another retailer who utilise the Eagle Eye AIR network. In 2012 we digitalised Tesco Clubcard vouchers to enable customers to receive them instantly. Through the network they are connected to other Eagle Eye partners such as Pizza Express and Zizzi which enables customers to exchange their Tesco Clubcard vouchers for offers redeemable at these and other participating stores and restaurants. This maximises the opportunity the network provides as a solution to connect Tesco customers to a wide range of restaurant partners digitally as well as offering great benefits to their customers with a timely voucher they can use instantly.
Brands and retailers that launch campaigns through a network are able to decrease the costs of production and distribution, while choosing how vouchers are issued – ensuring maximum customer engagement.
Each party involved also stands to benefit from data produced through the partnership as it can then be used to track consumer behaviour and inform consumer profiles, market segmentation models and future campaigns.
The ability to form new relationships between brands and retailers provides both parties with a new dynamic which impacts on their marketing and trade teams and there are real competitive advantages to be gained for those that engage in this conversation.
About Eagle Eye
Eagle Eye is a pioneering multi-patented transaction software platform, supporting real-time, multi-channel digital offers, payments and rewards. We help retailers and brands to reduce costs, improve their customer offer and make a digital leap-frog for their business.
With offices in Guildford and Manchester, we are the UK market leader in digital coupons and vouchers, working with over 100 brands and all leading POS systems providers. Clients include Asda, Greggs, JD Fashion, Ladbrokes, Marks & Spencer, Mitchells & Butlers, Pizza Express, Tesco and Thomas Pink.
Online – www.eagleeye.com
Twitter – @weareeagleeye
(A Retail Times’ sponsored article)