Fobi is Part of one of the First End-to-End Pilots Tracking Key Milestones for 8112 Universal Digital Coupons
This trial signals the impending start of a significant improvement in the user journey for redeeming coupons, in campaign attribution for CPG Brands and for Retailers to be compensated more quickly
Fobi AI .a leader in providing real-time data analytics through artificial intelligence to drive customer activation and engagement, is pleased to announce they are part of a group of 7 companies that has launched one of the most expansive Pilot programs for 8112 Universal Digital Coupons. Other companies involved included Wells Enterprises makers of Blue Bunny Ice Cream, IT Retail, Lagree’s Food Stores, nData Services, SMS Promotions, and The Coupon Bureau (TCB).
Latest Aithority Insights: Detecting, Addressing and Debunking the Hidden AI Biases
KEY BENEFITS FOR CUSTOMERS, CPG BRANDS AND RETAILERS
The pilot program provides several key benefits:
- Customers can redeem coupons right from their mobile phone, with no need to print or clip coupons which may be forgotten at home.
- CPG Brands are able to tell in real-time how their campaigns are performing and make any necessary changes immediately.
- CPG Brands also have real-time validation of the coupons by TCB to reduce fraud. They will also be able to create coupons for higher value items without worrying about increased loss as a result of fraud.
- Retailers will enjoy rapid reconciliation and payment of the digital offers.
THE PILOT PROGRAM PROVIDES THE FIRST DIGITAL CLEARANCE AND REAL-TIME RECONCILIATION OF 8112 COUPONS
The pilot, initially organized by nData Services, IT Retail, SMS Promotions and Qples by Fobi, is being conducted at 3 LaGrees Food Stores in Colorado. Customers of the LaGrees stores are being sent coupons for Blue Bunny ice cream that have been created in the Qples by Fobi platform to their mobile phone. Alternately, customers can also use the Qples QR code on the in-store signage provided by SMS Promotions to download the coupon directly to their phone. When the customer purchases their Blue Bunny ice cream at the check-out counter, they can show the coupon on their mobile phone, have it scanned and The Coupon Bureau validates in real-time, thanks to the integration provided by IT Retail. Once TCB validates the coupon and the customer receives their discount, it is sent to nData Services who reconciles the coupon, ensuring LaGrees get paid for the coupon much more rapidly than legacy coupon programs. Finally, Qples by Fobi provides attribution data through its online portal, helping Wells Enterprises understand how the campaign is performing in real-time, and allowing them to make changes to optimize the campaign mid-flight.
“The LaGree family is excited to continue our long history of bringing new innovations to Colorado, by partnering with Wells Enterprises and the other providers to bring 8112 digital offers to our customers!” stated Megan LaGree, co-owner of LaGrees. LaGrees Food Stores is a 2nd generation family-owned business that is proud to have been serving Colorado families for over 30 years. Founded by the LaGree family, the chain has a history of innovation, being one of the first grocers to adopt scanning technology in Colorado in the 1980’s.
TCB Chief Integrations Officer Jeff Hudson stated: “It has been incredible to see these 7 different companies come together to make this 8112 Universal Coupon Pilot launch successful. This pilot shows that the new 8112 industry standard works flawlessly, and that there are significant benefits for all the players involved. We look forward to seeing widespread implementation of the 8112 Universal Coupon standard in the marketplace shortly.”
AI and ML News: Why SMBs Shouldn’t Be Afraid of Artificial Intelligence (AI)
IT Retail Product Manager Richard Sutton stated: “At the ACP conference in 2019, the ACP announced that The Coupon Bureau was granted the contract to serve as the source of real-time coupon validation. For me, the lightbulb went off — finally a single point of truth for coupon data; I realized this solution would provide improved validation of coupons and solve the coupon fraud problem in the US. Prior to 8112 by TCB the POS systems had little means to validate coupons with the fragmented data sources for Family Codes and lack of conformance with the 8110 standards to ensure properly coded coupons with no method to prevent duplication of CPG offers. The abuse of 8110 coupons resulted in significant losses to both Retailers and CPG’s, so we are excited to see this come to an end.”
Val Stark, SMS PROMO Director stated: “The future of the Coupon Industry is here now with the development and enactment of the 8112 barcode and The Coupon Bureau. This will enable tighter controls, less fraud and give brands more direct contact with the consumers. Both digital and print will benefit from the personalization of the coupons.”
Sam Jonas, nData CEO stated, “The emergence of 8112 technology will democratize access to CPG digital offers for thousands of retailers. It truly is a revolutionary development and nData is proud to be part of this value chain that expands retail promotional access while increasing retailer revenue by reducing costs associated with handling coupons and issues of fraud.”
Fobi CEO Rob Anson stated: “This Pilot Project for 8112 Universal Digital Coupons is a significant step forward in driving mass adoption. The ease of coupon creation and distribution that Fobi provides, together with the attribution data for brands and retailers are both key parts of this project. The other key element is that Fobi is the only company that enables brands to be able to deliver coupons via a website, an app, our mobile wallet passes and now in-store, making it even easier for customers to redeem their coupons.”
At this time, additional consumer product manufacturers plan to provide more 8112 offerings for this pilot by the end of September expanding consumer options and savings.
Know More About Video Marketing Goals : 5 Important Video Marketing Goals to Increase Revenue
[To share your insights with us, please write to email@example.com]