Is this idea too competitive? Innovate the same old shopping experience.

[Joe Cassandra]

I joined the fastlane forum a year ago after reading MJ's book but just have read not interacted (I'll need to go make an introduction ) A big issue holding me back was I couldn't think of an idea that filled a need but also one I felt would be exciting to go for the long-haul. An excuse, but a roadblock for me. I did research on industries and such, but nothing stuck.

I decided to put this idea out into the world here because everyone is open here & will tell you straight while friends and family usually won't.

Idea:
Yesterday, my wife and I went and picked up some In N' Out Burger for dinner, we had received in the mail a coupon for a free burger since we just moved into the neighborhood in Allen TX (welcoming burger gift if you wish). While there I thought, "It would be cool if every-time you enter a store you enjoy, you get automatic notifications for coupons/discounts on stuff you like." I ran it by my wife as she is actually pretty straightforward and tells me many ideas I have are bad. (For example, one time I had an idea for "scented" cars, just like when a nice perfume walks by it's awesome, what about when a car drives by you....not bad right?.......)

But she said the coupon idea actually might work.

How it would work.
You walk into , for example, Starbucks, using gps tech, your phone knows where you are & sends you a notification alerting you to $2 off your latte. Great! You walk out, notifications clear automatically. Walk into Old Navy, now a sale on jeans, $10 off. Just what I was looking to buy!

Are coupons a Slowlane thing, yes. Most Americans are in the Slowlane/Sidewalk so there's a market. It solves the need of:
1) Keeping track of paper coupons
2) Keeping track of those email coupons you get
3) Annoying to sort through a waste of new and old coupons, all on app would be up-to-date.

It can also help retailers avoid showroomers as most women (sorry ladies) would rather save 25% those jeans they want, rather than save their money because they actually feel like they're are losing out on something special. I know because my wife expressed this sentiment to me (of course not all women!)

Business model would be commission/lead gen. No ads.

I just found another app, Shopular, that does something pretty similar, so I'm going to test their app and find deficiencies. i don't believe they've marketed themselves well, but the app gets good reviews and they just secured funding (of course not always a sign it's a flourishing company, see Groupon.)

What do you think, be as brutal as you like. thanks!

 

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[Strive]

There are many apps like that. For example, RetailMeNot is a pretty big one that I sometimes use. I'm not sure how else you can innovate and provide value in that field. It's pretty much all the same: Go shopping --> get alerts of nearby deals --> pick best deals.

 

[throttleforward]

This has been the holy grail of any number of retail marketers, VCs, and tech startups for quite some time. For some reason it just hasn't caught on. I have no doubt that the only reason things like Foursquare got funded was to turn it into a platform for GPS-based ads (coupons are just another form of advertising).

I suspect it's because the coupons are not personalized enough, plus it requires the extra steps of remembering you have an app, opening it up as you walk in, waiting for a notification (which may or may not come as the store may or may not participate), then seeing that the coupon has nothing to do with what you want to buy, getting annoyed that yo ujust got spammed, and then never using the app again.

My belief is that the tech is mature enough that the store could be notified when my phone is walking in, and do a push notification to my phone that incoporates their latest promotions with my previous purchase history. For instance, it'd be nice if, as I walked into Starbucks I got a text saying "Hey throttleforward, we noticed that you typically get a large iced coffee. Here's a free one on us" or "here's a discount on iced coffee" that'd be pretty awesome, and I'd be more open to other cross promotions. But just a "Hey Adam, welcome back. Try our scones - they're 50% off!" would seem spammy to me - especially since some dataserver in Seattle KNOWS I've NEVER purchased a scone.

 

[Joe Cassandra]

thanks guys, yeah I know like Retailmenot you have to open the app etc to find them..going to a mall for instance this way of doing it would be insane.

So throttleforward, I agree they dont want notifications of crap they dont want..so if something was smart to know what you usually get and the promotions stem from that data?

I agree tricky part is avoiding the spam as wr already see enough of that!

Sent from my SM-N900V using Tapatalk

 

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[throttleforward]

Yeah - the problem is it's a huge project, and marketers are stuck in their ways.

What is really needed is a data clearinghouse, where purchase data is assimilated from across retailers. Your purchase profile would contain the items purchased, the amount paid, the store from where it was purchased, the dates of purchase, etc. Then advertisers would pay in order to access the data and deliver highly-targeted ads to you via their own platforms, whether it's through their own email marketing campaigns, their apps, etc. Places you've never bought from would know, for instance, that your mother's birthday was coming up (because last year at this time you bought a Happy Birthday Mom card) and would push ads related to buying your mom a present. In fact, it could even know that you sent your mom a present at her house in another town, so the ad could be as specific as "Give your mom x gift from y retailer in the town she lives in z". Something like that.

There would need to be a lot of kinks worked out, but that's what I envision will be the future of advertising at some point, especially if/when we get over the big brother creep factor.

In the meantime, it'd be an advancement to get companies to advertise smartly to their existing customers. For instance, Starbucks knows what I buy everytime I go to Starbucks. They should recognize that and reward it, not push me spammy stuff about whatever THEY want me to buy. Or, the online hockey store I buy my hockey stuff from should stop sending me spam, and start saying "Adam, we noticed that it's been about 6 months since your last stick blade purchase (these things wear down and require replacement). Looking to buy a replacement? For you only, we'll be offering a 15% discount on all stick blades. Enter this exclusive, one-time discount code to get your personal discount: (insert highly personalized, one-time-use code here)

 

[Joe Cassandra]

I see what you mean by the creepy big brother, I already see advertised ads for things i looked for (cookies) on google ads and fb ads

What if instead of this in physical stores, online you get notifications when you visit your favorite stores?

I agree the personalized coupons based on buying history could be tricky but if you start getting special/free deals at Starbucks for example, I think people would get over the creepy factor.

 

[throttleforward]

I see what you mean by the creepy big brother, I already see advertised ads for things i looked for (cookies) on google ads and fb ads

What if instead of this in physical stores, online you get notifications when you visit your favorite stores?

I agree the personalized coupons based on buying history could be tricky but if you start getting special/free deals at Starbucks for example, I think people would get over the creepy factor.

Agreed-once advertising switches from "we want you to buy this" to "thanks for being a customer, hope this ad is helpful to you" the creep factor will go away. You'll actually want those ads.

 

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[Gale4rc]

This will actually be possible with new technology but as of now, the best way to make it happen is with NFC and people are working on it. It's a good idea but, to do it easily the technology has to connect to the phone and basically send a message like NFC.

 

[Joe Cassandra]

This will actually be possible with new technology but as of now, the best way to make it happen is with NFC and people are working on it. It's a good idea but, to do it easily the technology has to connect to the phone and basically send a message like NFC.

So I need to find someone who is working on it

I don't know much about NFC, but that's a good baby step as I wasn't sure where to start digging technologically speaking.

 

[Gale4rc]

So I need to find someone who is working on it

I don't know much about NFC, but that's a good baby step as I wasn't sure where to start digging technologically speaking.

Your head is in the right place but, it doesn't sound like you have much experience in this space and wouldn't bring value to the table to anyone already working on this type of tech

 

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[Joe Cassandra]

Your head is in the right place but, it doesn't sound like you have much experience in this space and wouldn't bring value to the table to anyone already working on this type of tech

Agree, technologically speaking I'm sure I would be miles behind those who have been developing for years, implementing it I believe I could provide value.

Thanks for the heads-up.

 

[Oztrepreneur]

Joe I suggest you have a look into a very recent technology called Bluetooth Low Energy. It does exactly what you want and in fact there are several companies developing the exact idea you have. Some large US chains are trialling it.

Apple incorporates the "ibeacon" technology in all the new iphones and samsung is doing the same with the Galaxy. There is a multi trillion dollar market perceived for the internet of things, which will use this or very very similar technology.

Also Paypal is leading the bandwagon and developing an auto payment portal using secure versions of bluetooth low energy......I am certain in the future we will pay via a click on our mobile phones.

Huge market potential for other applications too. Still somewhat early days and developing technology. How do I know all this....because I had the exact same idea and researched it. Although I am trying to think of other practical applications not just push marketing.

 

[Gale4rc]

Joe I suggest you have a look into a very recent technology called Bluetooth Low Energy. It does exactly what you want and in fact there are several companies developing the exact idea you have. Some large US chains are trialling it.

Apple incorporates the "ibeacon" technology in all the new iphones and samsung is doing the same with the Galaxy. There is a multi trillion dollar market perceived for the internet of things, which will use this or very very similar technology.

Also Paypal is leading the bandwagon and developing an auto payment portal using secure versions of bluetooth low energy......I am certain in the future we will pay via a click on our mobile phones.

Huge market potential for other applications too. Still somewhat early days and developing technology. How do I know all this....because I had the exact same idea and researched it. Although I am trying to think of other practical applications not just push marketing.

BTLE still requires you to connect to it which is a huge disadvantage

 

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[Oztrepreneur]

BTLE still requires you to connect to it which is a huge disadvantage

If you have the stores app enabled and your bluetooth on, the linkup will happen as soon as you step in range. I don't ever see (even with different technology) getting around the 'acknowledged hookup' barrier as not everyone who owns a smartphone wants to be spammed as soon as they walk into a shop....

However if you do then download the deal app, turn your bluetooth on and wherever an ibeacon is located it will linkup automatically and notify you.

 

[Gale4rc]

If you have the stores app enabled and your bluetooth on, the linkup will happen as soon as you step in range. I don't ever see (even with different technology) getting around the 'acknowledged hookup' barrier as not everyone who owns a smartphone wants to be spammed as soon as they walk into a shop....

However if you do then download the deal app, turn your bluetooth on and wherever an ibeacon is located it will linkup automatically and notify you.

NFC technology by passes that

 

[Oztrepreneur]

NFC technology by passes that

Ok. Different technologies slightly different applications, however I know where I would hedge my bets. Anyway we could argue tech all day.

http://numrush.com/2013/09/13/paypal-also-chooses-bluetooth-nfc-new-payment-system/
http://gigaom.com/2013/09/10/with-i...mp-on-nfc-and-embrace-the-internet-of-things/
http://www.smartbeacon.eu/en/ibeacon-vs-nfc

For the OP this is your thread, I hope I have helped by showing you the latest technology that Apple, Samsung, and companies like Paypal have chosen to embrace to allow possibilities similar to your idea. Look up estimote, they are one company already developing the field.

Best of luck!

 

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[smartman]

What if you tweaked your idea to give black Friday alerts to a user, as they are much more time sensitive, and shoppers are much more motivated on that particular day to get the competitive edge in shopping. Yes it is seasonal, but you could probably become a top downloaded app over a 48 hr period and and hopefully catapult other apps you have up to the top rankings as well.

 

[Joe Cassandra]

Joe I suggest you have a look into a very recent technology called Bluetooth Low Energy. It does exactly what you want and in fact there are several companies developing the exact idea you have. Some large US chains are trialling it.

Apple incorporates the "ibeacon" technology in all the new iphones and samsung is doing the same with the Galaxy. There is a multi trillion dollar market perceived for the internet of things, which will use this or very very similar technology.

Also Paypal is leading the bandwagon and developing an auto payment portal using secure versions of bluetooth low energy......I am certain in the future we will pay via a click on our mobile phones.

Huge market potential for other applications too. Still somewhat early days and developing technology. How do I know all this....because I had the exact same idea and researched it. Although I am trying to think of other practical applications not just push marketing.

Thanks Oz, as mentioned before, still learning the tech that goes into it, I appreciate you bringing up iBeacon which I hadn't heard of before. It looks like Estimote, that you mention later, is doing exactly what I was thinking. I must not have been googling the right terms as they never came up, just the Shopular app.

When you had the idea and started researching it, did you go beyond the research phase to validation? Or, since it sounds you know a lot about the tech in it, that it's much to mainstream i.e. many large companies are already trying to do that exact thing?

I wasn't under the illusion that this idea hadn't been thought of, just with talking with others initially in the past week, no one seems aware of the this tech or opportunity as many I've told this idea about said they would download an app like that right away. I think the same thing. When I go into a store or restaurant regularly, why am I not regularly offered deals on something I enjoy and hence would return to that store/restaurant again & again?

So to cut to the chase @Gale4rc and yourself believe, yes, it's a viable idea; however, although competition is not a bad thing, this is not a bunny hill I would be climbing but actually a mountain where I would be fighting big guns such as Apple, Google etc.?

 

[Joe Cassandra]

What if you tweaked your idea to give black Friday alerts to a user, as they are much more time sensitive, and shoppers are much more motivated on that particular day to get the competitive edge in shopping. Yes it is seasonal, but you could probably become a top downloaded app over a 48 hr period and and hopefully catapult other apps you have up to the top rankings as well.

You are pretty smart, @smartman , I like that. Perhaps, to lure in customers, you see all the public advertisements for deals, but what if there were "hidden" deals in the store that only the app would pick up, so people would be "forced" to go into the store in fear of missing out.

Thanks for the inspiration!

 

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[Gale4rc]

So to cut to the chase @Gale4rc and yourself believe, yes, it's a viable idea; however, although competition is not a bad thing, this is not a bunny hill I would be climbing but actually a mountain where I would be fighting big guns such as Apple, Google etc.

Exactly.... But, smaller guys win all the time in those battles.... They key behind those smaller guys is that they have a great team.