A data-as-a-service provider called Retailigence is helping retailers and brands drive foot-traffic to their real-world stores – the kind of foot-traffic that carries both money, and an intention to spend it.
Here’s the scenario Retailigence is helping to avoid: a consumer with a desire to purchase a particular product is ready, willing, and able to fork over the cash needed to make it happen – but first they’ll need to figure out where to buy that product. In this day and age, they could probably find the product for sale online, but then they’d have to pay shipping and handling, and wait until it arrives in the mail. That’s fine for some things, but what if they want it right now? In that case, they’ll probably end up making a bunch of phone calls to a slew of retailers, during which they’ll ask the age-old question, “Do you have any in stock right now?”
Retailigence targets these very consumers – which makes it easier for them to find the item they’re looking for, and easier for businesses to put that item in their hands. The company offers two solutions, which are called “adPOP” and “AppNet,” as well as an open API for developers.
Retailigence is a marketing platform, and they keep a database of retailers’ inventory. The company dishes-out ads based on what’s currently in stock at a particular location, showing the right items to the right consumers across a multitude of advertising platforms, apps, and search engines – both web and mobile. With mobile devices like smartphones and tablets becoming more and more integral to the process of shopping, I’d imagine the focus is largely on mobile, as opposed to web. Retailigence, itself, isn’t a software app, but partners with other companies that do have apps, and uses its inventory data to hook consumers up with retailers.
The result is hyper-local advertising with a focus on bringing paying customers through the door. It takes online shoppers and converts them into real-world shoppers at brick-and-mortar stores; and because the consumer already has a particular product in mind, it’s some pretty valuable foot-traffic. According to the company’s blog, their services can increase ad performance by 50%, and increase revenue by up to 10%.
Retailigence is based in Redwood City, Calif. and was founded in 2009 by CEO Jeremy Geiger. In March of this year, Retailigence announced a series B round of funding that fetched $6.3 million. That number brings their total amount of funding to $10.4 million. The company’s list of investors includes 500 startups, Draper Fisher Jurvetson, Global Brain, Motorola Solutions, OPT, Quest Venture Partners, Telenav, and Zig Capital.
On May 30th Retailigence announced that they’ve added some new talent to their ranks, by hiring Matthew Shevach as Senior Vice President, Ad Solutions. Shevach’s claims to fame include previous experience at TRUSTe, Adap.tv, DoubleClick, Tribal Fusion, Adzilla, and Claria Corporation, among others.
Retailigence is utilized by some well-known names in business, such as Timberland, RadioShack, and The North Face. The company’s services can be accessed at www.retailigence.com.