The idea of a sharing economy has led many consumers to access data rather than own it. Now, a new startup called FlockTag aims to apply a similar concept to the small business world, applying this shared knowledge to its loyalty cards and mobile app programs.
Adrian Fortino, FlockTag’s Co-founder says:
“It is the combination of a universal, digital loyalty card (a buy five, get one free for all participating businesses) and a customized, automated deal engine where every unique consumer gets a deal that is curated and sent to them at the right place and time based on their specific buying behavior.”
The Detroit-based startup provides tools for businesses to create a network where they can benefit from the knowledge and experience of other companies. Not only can companies share information such as consumer buying behaviors, but they can also use the platform to offer shoppers cross-promotions or deals in real time based on these behaviors.
“FlockTag’s philosophy and capabilities are designed to leverage the secure sharing of customer data between independent businesses in a region so that they can accurately entice current customers and see how best to bring new ones in the door. Businesses are able to attract new, loyal customers by sending personalized deals to consumers who make purchases nearby, assuming that the offering is relevant to the individual.”
FlockTag claims that its targeted, intelligent deals can increase the number of new customers, entice them to buy more frequently and to spend more when they do. Its universal loyalty card system and automated deal engine allows consumers to rack up deals from different businesses in their area.
There are also iOS and Android compatible apps for FlockTag users. And since all of the consumer data is stored in one centralized location, FlockTag can provide businesses with even more data and analytics about customers and their buying behavior.
The tool will launch on November 1, 2012 and is currently in the testing phase in several Big 10 college towns throughout the Midwest. For example, the all-in-one loyalty card is currently in use by 25 independently owned businesses throughout Ann Arbor, Michigan.