Gary Cohen, CEO & Chairman
As next-gen shoppers are well equipped and informed about modern technology, they demand an increasing array of conveniences and perks, which push retailers to new limits. To align with the key trends and shifts in the retail industry, retailers are focused on meeting consumer demands by mining more about consumer purchasing behaviors. Most often than not, retailers need answers to a host of questions on understanding customer perceptions: How to understand and pull out customer interaction history? What channels do customers use to shop? Which operational activities contribute to store profitability? At what optimal price point can a customer be retained?
The key is in identifying the right answers and drawing the right conclusions. As the amalgamation of commerce, customer, and technology is radically reforming the rules of customer engagement and loyalty programs, oftentimes retail companies are weighed down by traditional systems that fail to enhance customer engagement. This is precisely where Invigor Group (ASX: IVO) creates a lasting impact, with their state-of-the-art data analytics, insights, and loyalty programs that can track and holistically engage customers across channels in a meaningful and measurable way. “Our ultimate aim is to help brands and retailers drive new and significant opportunities and engagement with shoppers,” says Gary Cohen CEO and chairman of Invigor Group.
As online shopping accelerates, traffic on a retailer’s online store becomes a significant aspect of the equation. However, just attracting visitors to the online store does not guarantee success. To help retailers win a customer, Invigor is focused on two major areas—pricing and loyalty. Dedicated to retailers and brands across industries, Invigor’s pricing and market intelligence solution, SpotLite empowers businesses of any size to make smarter decisions by providing them with an affordable and easy-to-use price tracking solution, with features such as real-time notifications. “Our pricing product allows brands and retailers to understand what the competitive landscape is at any particular moment,” explains Cohen.
Leading the Way in Analytics
As industry veterans, Invigor’s team leverages interconnected data sets that enable retailers to identify and better understand competitors, consumers, markets, and demographics while providing the consumer with the best value-for-money. With Invigor’s INSIGHTS 360, a data analytics platform, retailers can collect and analyze the data in real-time and use the insights for informed decision making, shopper profiling, segmentation, and predictive modeling based on real-time data. Invigor’s INSIGHT 360 solution is divided into various modules such as Visitor, Shopper and Retailer Insights.
To engage with customers more effectively and in a personalized manner, Invigor makes use of data analytics and actionable insights regarding physical movement and in-venue digital behavior. With this, retailers can reach potential customers more effectively through relevant content, compelling offers, highly targeted advertising and personalized communication in a single cloud-based platform. Invigor also amplifies the retailer’s marketing campaigns and operations ROI. Through Invigor’s shopper insights, retailers and brands can capture and analyze shopper’s transactional and behavioral data through the latest technology. Using these strategic insights they can identify new opportunities and optimize their marketing operations.
The crucial differentiating factor that sets Invigor apart from the competition is their approach to focus on business outcomes.
To achieve this, the company leverages machine learning algorithms for real-time insights and predictions over time to allow retailers and brands to improve operations, increase profitability and scalability.
The New Loyalty Experience
As retailers grow and scale, it becomes difficult for them to recapture that one-to-one conversation they had with core customers early on when the brand was just being introduced. Organizations that integrate Invigor’s Loyalty and advanced customer engagement can witness the improved financial performance in their customer base. Invigor’s Loyalty solutions engage and reward customers in a personalized way at the right time and place to increase the number of shoppers, enhance conversion, and spend. The loyalty solution also includes a comprehensive range of modules aimed at understanding the drivers of customer behavior and influencing their journeys in order to improve the overall experience. The comprehensive suite comprises Visitor, Campaign, Rewards, Predict and Shopper Insights modules.
Invigor’s Visitor module collects customer information using Wi-Fi solutions or third-party products, analyzes customer and visitor behavior using data analytics and delivers actionable insights that help in decision making. Using Campaign and Rewards modules, retailers can influence their behavior and improve key metrics such as store visits, spend, and loyalty through more targeted, digitized engagement like promotions, offers, loyalty programs, and personalized messaging. Predict is another loyalty module from Invigor that goes a step beyond in customer strategy and engagement through predictive analytics and lifecycle management. Predict enables customers to understand and foresee shopper needs in real-time based on their individual shopping behavior. The Shopper Insights module, on the other hand, is a machine learning-based data intelligence solution that enables customers to identify, retain, and acquire more valuable customers and make dynamic recommendations to improve lifetime value and sales uplift. This solution helps identify the most attractive shopper segments and enables customer strategy and recommendations, maximizing marketing ROI and identifying new revenue opportunities.
Business and category managers can receive tailored reports directly to their email highlighting which product prices can be raised while remaining the cheapest in the market, or reduced to increase competitiveness. “The fundamental strategy is to focus on business outcomes, by doing that retailers can improve frequency, loyalty, conversion, spend and experience based on real-time actionable insights and recommendations,” emphasizes Cohen.
Forging Customer Relationships
Using its proven products, Invigor aims to provide an end-to-end solution spanning sales, product management, business intelligence, marketing, advertising, content creation, and distribution while monetizing each step of the process. Invigor’s solutions are adopted by leading retailers, consumer brands, shopping centers, e-commerce, transport, telecoms, and others and it continues to expand its customer footprint globally.
Invigor’s cloud-based solutions for competitive pricing and promotion insights, loyalty and personalized engagement and field force management, go beyond analytics to put data to work. By leveraging a mix of artificial intelligence and deep industry knowledge, Invigor demonstrably improves productivity and growth for retailers and brands.
Invigor’s passionate team of industry specialists helps retailers drive sales up by 20 percent through actionable insights. With a growing range of products and services and a lower cost base, Invigor is well placed to deliver solid revenue growth in the coming year. The company continues with their track record of growth with new contract wins and extensions secured in Australia and Asia. Invigor’s esteemed client roster has big names like Microsoft, Zara, Epson, SHARP and more. “We have made significant progress by investing heavily in technology, product development and recruiting a highly skilled team, which in turn has given us a stronger platform to deliver growth,” says Cohen. “Our vision is to take Invigor’s existing product offering and providing an end‐to‐end solution for our clients who want to aggregate and analyze data, and publish relevant content as a result.”