the real-time difference: reaching customers on the go with personalized offers
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The Real Time Difference:Reaching Customers On-The-Go with Personalized Offers
Walt GranvilleMedia & Advertising SolutionsVisa Inc.
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2.2 billion
cards in force
$7.3 trilliontotal volume
Source: The Nilson Report 950, 965, 968. For year ending Dec 31, 2010
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Convergence of online and offline▪ Consumers creating new payment relationships
through mobile
▪ Merchants want to bridge online and offline acceptance
Mobile facilitating real-time decisions▪ Mobile tools helping consumers with real-time,
location-based decision-making
Data-driven targeting • Businesses are enjoying improved customer
targeting through more relevant / real-time interaction and increased ubiquity / functionality of social networks
Consumers Want• Relevant value• Right info, right
time, right place• A simple experience• Personalized
preferences• To collaborate and
share• To do it all on the go
Digital Payments Trends
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Buying Is Simpler And More Complex
Easy access to information . . . . . . .
Reviews and recommendations . . . . . . . .
Friends sharing . . . . . . . .
Offers daily . . . . . . . . . . . . . . . . . .
Information overload
Who do I trust?
Everyone is sharing everything
But they aren’t relevant
Payments Are At The Heart Of The Purchase Cycle
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Consumer purchase cycle
Before During After
Merchant processor
Merchant acquirer
Processor Issuer
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Rise Of Digital Couponing
Very limited personalization and tracking
Restricted offer configurationsArchaic fulfillment processing
Highly personalized offers, tracked at individual level (e.g., through loyalty cards)
Flexible offer configuration (one or multiple items, cross basket, cross retailer, etc.)
Seamless redemption options (e.g., statement credits)
Linked to scanner dataNothing to print; nothing to clipSocial
Coupons 2.0Digital & Mobile
Coupons 1.0Paper & Print
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Advertising Pain Points
Retailers/ advertisers
Offer
Data
Measure
Redeem
Consumer
Merchant
Targeting too distant from POS (i.e., not “on-the-go”) and hard to dynamically adjust
Cumbersome fulfillment process
Broken link between online/paper offers and offline redemption
Limited offline/out-of-store spend history
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Data analytics
Transactions & redemptions
Merchant relationships
Network scale
Unique Visa functionality
Merchant acquirer
Real-time triggers
Location insight
Mobile delivery
Innovative Network Functionality
Merchant processor
Merchant acquirer
Processor Issuer
Enables merchants to deliver tailored, real-time offers to their customers based on consumer lifestyle behaviors
Introducing Real-Time Messaging
IN REAL-TIME WITHIN 7 SECONDS OF A QUALIFYING EVENT
BASED ON LOCATION &
LIFESTYLE PREFERENCES
DELIVERED VIA SMS
OR EMAIL
A unique marketing platform that leverages Visa’s Network to trigger promotions
Cardholder’s Lifestyle Preferences1. Location/Proximity of Swipe2.
3. Time of Day 4. Day of Week/Month 5. Transaction Amount 6. Frequency
IN-STORE
OUT-OF-STORE
Using Business Intelligence To Segment & Tailor Offers
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Since Monica is near a GAP location, her transaction triggers a customized message (based on her prior spend history)
Visa RTM: GAP Case StudyReal-Time Messaging (RTM) is a platform that analyzes enrolled
cardholder data to segment population and tailor offers
Monica redeems her offer at the GAP location
Promo code entered at POS
Monica grabs lunch at the Westfield Mall and pays with her Visa card
Customize RedeemEnroll – Gap Mobile4U31 2
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Connecting Like Never Before
Real-Time Messaging Press Coverage
Visa Delivers Real-Time Discounts and Promotions to Mobile Consumers When and Where they Shop
“Gap tests Visa’s new service to send real-time offers to consumers’ mobile devices”
April 21, 2011
PRESS RELEASE
“Visa’s been experimenting with ever-more-21st-century payment systems recently… By being an opt-in system with a closely-controlled advertising partner, the system lays the groundwork for the more sophisticated loyalty/location-based/check-in services…”
April 21, 2011
Fast Company
“We’ve already seen discounts offered to people who check-in to certain locations. But we’re now moving to more targeted offers by taking into account more information than just location… That’s why the Visa announcement is interesting.” April 21, 2011
GIGAOM
“Gap Partners With Visa to Send Location-Based Offers to Your Phone. Here’s another variation on the idea that we will one day get offers sent to us on our phones while in the vicinity of a retail store. This time it’s from Visa.”April 21, 2011
All Things Digital
“Visa has unveiled a new mobile service for retailers that brings the credit-card giant head-to-head with mobile deals players such as Foursquare, Groupon and, now, eBay. “
April 21, 2011
Advertising Age
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Questions?
BrandAttributes
Innovateto Deliver
To learn more, contact your Visa
Account Executive or Walt Granville at
[email protected] or (571) 355-2471
visa.com/realtimemessaging
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Enroll In Live RTM Programs
Gap
http://www.visa.com/gapmobile4u/
Kangaroo Express
http://www.usa.visa.com/ke4u/
Intercontinental Hotel Group
http://www.visa.com/priorityclub/