Nucleus Vision, an IoT retail-based technology company, has developed a patented O2O attribution mechanism that will take Omnichannel retail to the next level. This patented mechanism (Patent no. 10334426) enables retailers to untangle the complex, cross-channel customer journey and perform real-time data-driven campaigns. This will not only improve the customer experience but will also increase sales.
Omnichannel retail strategies create multiple touchpoints and bring in a major shift in the customer journey. A report by Retail Dive briefs that almost 77% of shoppers search for product information online while shopping in a physical store. Several enterprises have developed solutions to attribute online marketing to offline sales. However, the accuracy of these solutions broadly relies on parameters like device location, customer IDs, and data from the point-of-sale.
And, what about online conversions triggered by in-store visits?
Nucleus Vision’s O2O mechanism outperforms any other solution as it works both ways (online channels ⇋ offline channels). This enables retailers to measure their marketing RoI with much higher accuracy.
This new O2O attribution solution will reinforce Nucleus Vision’s position as a retail technology disruptor and open new business opportunities. With the world’s first deterministic retail attribution system, Nucleus Vision will be able to provide a cutting edge solution in one of the world’s fastest-growing markets.
The channel attribution software industry is expected to reach at USD1.6 billion by 2023 with double-digit CAGR and digital ad spend globally is expected to grow at a rate of 31.96% in the next 2 years.
Nucleus Vision aims to bring a paradigm shift in the existing omnichannel retail model, taking it to the next level. This path-breaking invention is a big leap towards the revolution the company wishes to bring about.
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The journey has just begun and there’s a lot more to come — Watch this space! Stay connected with Nucleus Vision for the latest announcements and updates:
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