Portfolio News: Ninja Metrics - Springboard Retail Brings Social Value® to Specialty Retailers
January 18, 2016
Springboard Retail Integrates With Ninja Metrics to Help Retailers Identify and Target Their Most Socially Influential Customers Right From Their POS System
Springboard Retail, the only cloud POS and retail management platform by retailers for retailers, announced today the integration of Social Value, a scientific measure of social influence.
Developed by Ninja Metrics, an advanced predictive analytics company, Social Value is the amount of spending an individual influences in other people. With this insight, retailers now have a precise measurement, in dollars, of how much spending their customers generate among their social connections.
With Social Value, retailers can now rank the most socially influential customers, as well as the most socially influential products, and gain earlier visibility into what will be top sellers. Social Value redefines how retailers identify and segment their customers, personalize their offers, and, ultimately, convert socially-savvy customers into advocates who drive store traffic and sales.
"Social Whaling allows retailers to quickly leverage the power of real-world friendships to target the most valuable shoppers and the people they influence in a relevant way," said Gordon Russell, CEO and co-founder of Springboard Retail. "Retailers know their best purchasers, or economic whales, but they don't know how to identify or reach Social Whales®. Nor do they know how to tailor their marketing messages, offers, images, and channel to tap into the influence their VIPs and Social Whales can have. The Social Value feature provides meaningful, actionable, consumable data for retailers to tailor their marketing and drive traffic, customer conversion, and loyalty."
in the pink, a Springboard Retail customer, fed anonymous data about their customer purchase patterns to Ninja Metrics. The Social Whales and key influencers were identified and segmented and that data was fed back into the Springboard Retail POS system. in the pink then personalized the marketing offers based on the three social influence segments: VIPs, Social Whales, and Followers. Their targeted marketing produced an 11 percent gain in revenue, 16 percent increase in new customers, and a 17 percent increase in items per transaction.
"We're pretty excited about the potential here. The retail industry has never had access to this kind of data before and it's opening up some real revenue streams," said Dr. Dmitri Williams, CEO of Ninja Metrics. "Social Value combines best-practice science with business realities. It allows retailers to understand their customers in a fundamentally powerful way and allows marketers to quickly leverage the power of real-world social relationships in a positive way."
Social Value helps retailers and marketers:
- Track customer and product segments based on social influence and behavioral data in dollar values and in real-time.
- Personalize offers to social influencers and their networks and track their social sales impact.
- Understand a customer's true lifetime value -- it's not just what they spend, it's what they cause others to spend.
About Springboard Retail Springboard Retail is the only end-to-end retail POS and Retail Management platform, designed specifically for retailers by retailers. From a single store to hundreds, Springboard Retail offers multi-channel retailers better control of sales and profits by putting actionable, real-time data in the hands of stakeholders across the enterprise - from the C-Suite to the sales floor. Springboard's cloud platform and web-based SaaS deployment model streamlines and integrates multiple retail operations into a single, retail management system -- from POS, mPOS, inventory optimization, customer relationship management, distributed order management to real-time reporting and data visualization, payment, accounting, loyalty, and e-commerce integrations accessible from any device, at any time. Since launching in 2014, Springboard Retail has grown to process over $200 million annually in retail transactions across apparel, accessories, footwear, gifts, crafts, jewelry, pet, toy, and other specialty retailers. Springboard Retail is based in Boston, Massachusetts. Learn more at www.springboardretail.com
About Ninja Metrics Ninja Metrics is an advanced predictive analytics company and inventor of Social Value, a precise measurement of who influences others and how much that influence is worth in dollars. Katana®, Ninja Metrics' predictive analytics and automated social graph analysis platform, helps online businesses and app developers improve monetization and increase conversion through the timely targeting of their most valuable, influenceable, and influential customers, as well as optimize their performance marketing. Ninja Metrics was founded by scientists and mathematicians from the Universities of Southern California, Minnesota, Northwestern and Illinois in 2009, and is headquartered in Los Angeles. For more information on Ninja Metrics, visit www.ninjametrics.com.