Mobivity Introduces Consumer Frequency Technology
Mobivity Holdings Corp. creators of the customer personalization platform, Recurrency, unveiled its innovative frequency impact technology enabling restaurant and retail brands to fully assess a variety of factors affecting consumer frequency.
Brick-and-mortar merchants can now tap into consumer purchase frequency performance connected to point-of-sale (POS) data that has until now only been available to the ever-expanding world of eCommerce retail. The new technology, developed by Mobivity’s world-class Data Science team introduces a patent-pending big data approach utilizing Mobivity’s Recapture technology. This tracks each individual transaction at the POS, while combining other customer data points to track how frequently each unique customer visits a store and what causes them to increase that frequency over time. Relating frequency to average ticket, day parts, and other insights is also provided via an elegant dashboard interface so that dialing in all aspects of a brand’s product, pricing, and promotions mix can be optimized to achieve maximum frequency.
To date, Mobivity’s Recognition has provided reporting tools that allow multi-unit franchise brands to drill down into unique transactional data. These show how specific Recurrency-based offers and promotions effect average customer spend, all while capturing purchase history across an often disparate point-of-sale system. This new technology allows brands to not only measure how frequent their customers visit, but also how specific, line-item measured offers or products drive additional visits and increase frequency over time at the store, market, national level.