I have plans to start an online business similar to Retailmenot / Coupons where we will be agreegating coupon codes from different online merchants at website. We are going to start this business from India, where we can see mobile commerce is also picking up. So, what are all the things we should focus for next 3 years with regard to technology, marketing and getting funds for scaling. Revenue source include, advertising and affiliate commission.
One of the largest frustration/gap I see in today's market is: My online journey and coupon aggregation are two different entities and there is nothing that ties them. I am also from India and I see this as a big gap.
For example, if I am searching for pizzahut menu and if I have selected Veg Corn Pizza or something like that, I need to come to a different service to get related coupons. When I come to coupon aggregation service, it lists all coupons related to pizzahut but not to the specific one which I am currently searching for i.e. Veg Corn Pizza.
I see that will be the upcoming innovation to have a seamless experience for end users to effectively derive value out of coupons.
Connect with me over LinkedIn/Clarity, to have a detailed discussion on this.
Answered 7 years ago
This one is easy: have you ever heard of Brian Wong? The freak entrepreneur who skipped 4 grades and graduated college at age 18? He then founded Kiip and was the youngest person to ever raise venture capital funding. Google "Kiip Brian Wong" and you'll see how the digital coupon space has bee forever changed. He does $20MM in revenue annually.
I work with Brian on one of my projects and would be happy to answer any questions you have about how you can grow (using my experience, not his). I can help you make an executable plan for the next 3 months, and also a long term 3 year plan.
Answered 7 years ago
Without getting into much details I would suggest going the iBeacon route, in combination with data-driven created and curated content. The present and the future is all about personalization (heavily mobile focused.) Understand the relationships of consumers with businesses and tailor their experiences to make expectations be met.
Answered 7 years ago
Innovation in the Online Digital Coupon or E-Coupon space is as follows:
1. Manifold Culinary Electronics: The room that often produces most of the waste in the home would however be enhanced by the addition of the Domin Digital Kitchen Database. David Seo has posted this project as the work of a collaboration between Adam, Baozhen, Jong and Sen with the aim to recycle e-waste and produce a remarkably handy appliance. Incorporating a keyboard, a monitor, a barcode scanner and a cutting board, this contraption has been cleverly conceived and aesthetically conceptualized to offer homemakers a convenient sidekick for cooking and grocery shopping. Its many layers and parts allow one to carry out several physical tasks, while the touchscreen of the Domin Digital Kitchen Database lets one virtually organize lists, coupons, and nutritional information.
2. Augmented Reality Shopping Helpers: IBM Research is currently testing its IBM mobile app, a shopping app that enhances the buying experience by making it more personal. The app acts like a personal shopper, using augmented reality technology to provide shoppers with more personalized product information as they are browsing through store shelves. According to IBM Research, 58 percent of consumers want to get product information in-store and that 19 percent of shoppers will browse their mobile devices while shopping. So, the IBM mobile app aims to address this consumer need by allowing people to identify products that match their preferences. To use the IBM mobile app, you just input your preferences and point your phone to the product so that the app can "recognize" the product via shapes and images. Then, you will receive information on how closely the product matches your preferences, as well as coupons and promotions currently accompanying it. Along with making shopping more personalized for consumers, the IBM mobile app will also be useful to retailers. According to Brand Channel, IBM hopes that the app "will provide retailers with valuable insights into consumer behaviour.
3. Drugstore Discount Apps: After finding out from its Facebook fans that they were interested in mobile coupons, America's largest drugstore chain Walgreens is adding a Walgreens mobile coupons app to its current mobile app platform. The platform currently offers its customers extreme convenience through services like prescription refills, photo-ordering and special offer text alerts. These apps are free and are available for iPhone, Android, and BlackBerry phones. For busy consumers, a convenient app like Walgreens mobile coupons makes it extra easy to take advantage of discounts while out and about. Walgreens has launched this new discount service for the holiday season, hoping to entice value-oriented consumers with promises of quick discounts, ranging in amounts from 50 cents to $5, on a variety of products including beauty items and gifts.
4. Smoothie Sampling Games: To promote its Naked Juice Smoothies across the UK, PepsiCo has launched the Naked Juice 'Grab Some Good Stuff' campaign, which comprises a mobile sampling tour and an arcade-style Facebook game. The campaign attempts to get more consumers, ages 24 to 35, to try out the brand's healthy juice smoothies. The sampling tour will be a four-week event that spans some of the highest traffic areas across the UK and will involve brand ambassadors handing out bottles (over 120,000!) of Naked Juice to passers-by. Consumers will also be encouraged to visit the brand's Facebook page to play the Naked Juice 'Grab Some Good Stuff' game, which mimics those arcade games where the goal is to grab a prize with a metal claw. Whatever you grab, a prize is guaranteed for every game, and include things like free vouchers for Naked Juice Smoothies and retail coupons ranging in value from £25 and £120.
5. Customer Loyalty Cubes: As mobile phones become more and more advanced, companies are looking for new ways to provide virtual incentives for their customers, and Tagtile aims to provide these motivations. Tagtile is a cubed hardware device that rewards customers' loyalty through points, discounts, and coupons. Founded by Abheek Anand and Soham Mazumbar, Tagtile provides easy setup. By simply plugging the Tagtile device into a USB port or a power outlet, its sensors connect to customers’ mobile phones, and when swiped earn points. The Tagtile loyalty service is currently being tested by 35 merchants and will be officially launched sometime next month. With its launch, Tagtile will most likely influence other companies to look to mobile technology for encouraging loyalty from customers.
6. Virtual Store-Promoting Balloons: E-Mart's 'Flying Store' is designed to make shopping even easier for Korean consumers by bringing its store to them. To do this, E-Mart released several brightly coloured balloons in the shape of the E-Mart truck with Wi-Fi routers inside of them into different parts of the city. The floating yellow balloons incited curiosity and people were happy to take advantage of the free Wi-Fi. Once connected to the network, customers were able to download coupons from the app and apply them when making a purchase using the E-Mart mobile app. Even in a busy city like Korea, this campaign was able to capture the attention of people. The unexpected addition to their daily lives provided them with smiles, joy, and an even easier way to shop.
7. Business Location Service Apps: Apple released a new location services technology called the Apple iBeacon. iBeacon is essentially a module that makes a spontaneous Bluetooth connection with a nearby smartphone and exchanges packets of information with it. Stores, arenas and other venues can use iBeacon to promote coupons, special offers and location-based information to potential customers. Apple iBeacon allows companies to mine data about consumers in real-time. By installing multiple iBeacons in a shopping space, stores can pinpoint shoppers' precise location, monitor their browsing habits, and send them promotions that are likely to appeal to them. For example, if a customer is browsing for a music player, stores can use the iBeacon to send them a promotion about a pair of headphones that would work well with the music player. The iBeacon uses Bluetooth Low Energy, a form of Bluetooth that does not need to maintain a consistent connection to share data, instead sending packets of information only when in range with another device.
8. Geo-Tagged Snack Campaigns: The next time you're hanging out at the beach, at the park or any other place outdoors, you can participate in the Clif Bar 'MojoGo' campaign for a chance to win prizes. Clif Bar, the organic food and beverage brand, has launched this geo-tagging giveaway campaign to reward people who enjoy outdoor adventures. All you must do is send a geo-tagged tweet to @ClifMojoGo with your location when you are doing something outdoors, such as hiking on a trail. The brand will then verify that you are actually outdoors and then send you a confirmation message, along with details on how you can claim a coupon for a free Clif Mojo Bar. You will also receive instructions on how to enter the giveaway for a Garmin GPS watch, among other prizes and rewards.
9. Mobile-Driven Discounts: The QuickerFeet app is a new discount app but unlike most others currently out there it does not require any coupons. Merchants can post deals and which consumers can receive directly on their mobile devices. The QuickerFeet app is particularly brilliant because it is trying to capitalize on one of Groupon's major shortcomings: the need for a coupon. The notifications of relayed from merchants to consumers in real-time and thus consumers can act quickly if they want to take advantage of the deal being offered. Consumers are eager for technological solutions to help them live better and more efficient lives. The QuickerFeet app enables consumers to save money while on-the-go. Companies ought to find a way to solve a problem or connect consumers via technology.
10. Discount Discovery Apps: If you have ever wanted to shop online without needing to continually re-enter your credit card info, the TapBuy app will be right up your alley. The app brings together deals from across the web, and lets consumers enter their credit card info once, after which it is securely saved. The TapBuy app brings together deals from retailers such as the Gap and Old Navy, among others. Additionally, the app scans the web for coupons and applies them to your purchase.
The recent economic downturn has made consumers more conscious on where their money is going. The TapBuy app taps into this desire to cut back and save on purchases. Companies should take this mindset into account and create products and services around this mentality.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath
Answered 2 years ago