Social media is considered one of the most effective means of advertising today, because of its viral nature – “I just scored a sweet deal at x, I NEED to let everyone know,” which then gets reposted, tweeted, or liked within a large network. The larger the individual’s network, the better for a business. Advertising utilizes a broadcasting model that spreads, but also dies if it doesn’t provide a memorable plug or reach the right audience. Businesses are constantly finding ways to permeate social spaces and stay relevant. Social networks have made the work easier for them, because it generates content without much effort. In addition, consumers are able to share these updates from the moment they receive them.
Oh SNAP!
SNAP is a new start-up looking to further integrate customer transactions with social media. The technology works in a similar way many loyalty programs do; customers present a card at check-out, which then transmits transaction data to a computer, and allows them to collect points for rewards. What SNAP adds to this is having customer purchases automatically appear on social networks as check-ins, posts, or tweets, providing businesses a constant update feed presence. Customers will have the ability to customize their updates, track their transactions, as well as compare themselves to others on leader boards. It’s a fun and convenient way to tell everybody about what you’re buying (and how much you spend shopping compared to everybody) all at one time.
Tracking and Rewarding Customers
SNAP will provide businesses statistical data on their customer purchases. They will be able to see what, when, and where transactions are being made. This will help businesses determine what promotions are working and build a customer profile based on the behavior of their most active customers.
Businesses will also be able to customize rewards in the form of trophies, badges, or real physical rewards for customer check-ins. The system also tracks the frequency of activity, to reward active, not idle customers.
For businesses that heavily utilize loyalty cards, such as Best Buy and Borders, SNAP will greatly benefit them. There may be little need to promote heavily, as customer purchases will do all the work.
Now if only SNAP could provide fax, text, and phone updates, we’d be all covered.
Written by: Daniel T
