David Valdez, Co-Founder & CEOTraditional marketing strategies such as message broadcasts and email blasts have lost their relevance in today’s world as new generation of customers prefer real-time and personalized digital engagement. Concurrently, the Internet of Things (IoT) revolution is expanding the possibilities for retailers allowing them to interact with customers through new communication channels. A hardware enthusiast having strong knowledge of artificial intelligence (AI), David Valdez, has been exploring the potential of modern electronic communication devices such as beacons to help retailers understand the personalities of their existing and prospective customers and tailor marketing strategies accordingly. Valdez co-founded Auximiti to provide a real-time mobile marketing solution that allows retailers to implement inventive marketing strategies and initiatives in a matter of days.
Assisting the retail industry through the fourth industrial revolution which has IoT at its core, Auximiti offers a tailored IoT platform that leverages beacons, sensors, and the power of proximity—enabling a greater level of customer interaction. Addressing the inability of businesses to harness key marketing insights from their data, Auximiti empowers organizations by creating a personality profile of each customer based on their online behavior on social media. In addition, they provide a customer engagement strategy based on that data. The company aims at reducing the fragmentation caused by different technologies in the retail marketplace through rich insights.
Realizing that the sensors and beacon marketplace is filled with manufacturers offering hardware devices without suitable software components, Auximiti has developed their own management console. Installation of the console in beacon allows the device to be controlled through Auximiti’s web portal. The company also offers small-sized beacons which can be easily installed against any plain surface and are capable of sending mobile notifications to the device of the retail customer who is in the vicinity. The notification takes into account the purchasing patterns of the customer and beams information about the latest offers and discounts on products relevant to them.
Auximiti answers key questions such as the current number of customers in the store, number of returning customers, and their spending behaviors-all in real-time
For every visitor in the store, the platform provides key information concerning whether the customer prefers help or self-service inside the store. It also helps retail stores to actively engage with the first time visitors, besides providing awards for loyal customers, sending invitations before a new product launch, and incentivizing customers that bring relatives and friends to the store. Leveraging IBM Watson’s ability to collect data and provide insights for that data, Valdez informs, “Auximiti answers key questions such as the number of customers in the store, number of returning customers, and their spending behaviors—all in real-time.”
Auximiti serves a large retail client base, many of them being from the telecom industry. One such company that opted for Auximiti’s pilot beacon project was a telecom retailer that required an out-of-the-box approach to improve customer engagement. Auximiti installed a fleet of beacons and proximity sensors swiftly across their retail outlet. With the help of these electronic devices, the client gained deeper insights about their customers, allowing them to cater to the customers’ unique needs that resulted in highest sales in that region. Following the initial success, Auximiti is planning to install customer engagement desks and kiosks to support greater self-service capabilities.
As the world gears up to accommodate 20 billion connected devices by 2020, Valdez plans to build an AI-enabled infrastructure that takes data acquisition and analytics to the next level. “Auximiti will harness the power of AI to empower retailers with greater market intelligence,” explains Valdez. The company’s roadmap also includes hiring data experts to help retailers overcome decision making barriers and boost their ROI throughout their IoT journey.