Priva Technologies: First Scalable One-to-One Electronic Incentive Retail Marketing Solution Unveiled ....
Each shopper receives electronic incentives and rewards tailored to individual preferences at point of sale
CHICAGO--(BUSINESS WIRE) – May 7, 2008 – Priva Technologies, Inc. today unveiled a powerful highly scalable solution allowing marketers and retailers “for the first time” to reach an unlimited number of individual shoppers with personalized messages and electronic incentives via the Internet, at in-store kiosks, over their cell phones as well as through direct mail and cash register receipts. “The Priva Retail System™ (PRS) patented process is revolutionary. It allows true and unlimited customer segmentation and now … even one-to-one marketing,” says Jeff Minushkin, Priva Technologies CEO.
“The patented Priva Retail System is designed to protect the identities of shoppers while delivering to them incentives that are tailored to their personal preferences. This is possible because the system utilizes Priva’s Cleared® Transaction Platform, which incorporates security technology that has achieved federal government’s highest levels of certification,” says Minushkin.
He points out that the system eliminates the need for paper coupons or certificates. Shoppers simply present their loyalty cards or devices at check out and discounts are automatically redeemed, he explains, “It’s safe, simple and secure for the shopper, for the retailer and for manufacturers.”
The Priva system is designed to chart the preferences of shoppers. Each time he or she makes a purchase data points are added to the shopper’s transaction history, allowing the system to continuously calibrate and refine the messages and incentives delivered. 100% of all customer transactions are processed, not just sample data.
“The unprecedented processing capability of the PRS allows retailers and their CPG partners the ability to develop and deliver highly sophisticated marketing and promotion programs. For instance, the system automatically searches virtually unlimited consumer data points to ‘figure out’ and act upon strategies that have eluded marketers until now. It can identify, on a one-on-one basis, what shoppers might be likely to buy ─ how to get them to try new products; how to create or reward loyalty; and how to win back shoppers who ‘stray.’ Finally, the system also automatically settles promotions between manufacturer and retailer,” Minushkin notes.
The Priva Retail System is compatible with IBM 4690 SA and ACE implementations, and can usually be deployed in 90 days or less. The PRS enables the objectives outlined in both the 2007 GMA / Deloitte Shopper Marketing study and the Global Commerce Initiative’s Vision 2016. It is SOX / EITF compliant. The system has unlimited scalability and is currently processing transaction data on approximately 20 million shoppers.
Priva sought and received expert opinions regarding the capabilities of the system in anticipation of its release today.
Don E. Schultz, internationally recognized authority on marketing and communications and author of several best- selling books on integrated marketing communications says: “The capability of the Priva system to enable a demand-chain system will connect consumers, retailers, distributors and manufacturers in ways we have only dreamed about in the past.”
CPG/retailing consultant Bill Kies, Principal of Kies Consulting says: “In the current economy, new marketing capabilities that can drive sales while protecting margins are becoming critically important to both retailers and CPGs. Priva is providing an important link. Shopper marketing is a true competitive differentiator for both retailers and their partners.”
Steve David, former Procter & Gamble CIO, says: “The PRS has the potential to significantly impact the industry in the areas of consumer-centric shopping and supports the objectives of the Global Commerce Initiative (GCI) and Consumer Packaged Goods (CPG) supplier’s mutual collaboration objectives with their retail partners.”
ABOUT PRIVA TECHNOLOGIES
Founded in 1999, Priva Technologies is a privately-held Delaware Corporation that specializes in the development of advanced hardware and software-based authentication security platforms for the government, enterprise and consumer markets. Priva Technologies' flagship product, The Cleared® Security Platform, is the most comprehensive and powerful authentication solution available today. The company is headquartered in Chicago, IL with research and development in Annapolis, MD, and Cupertino, CA. For more information, please visit www.cleared.com. The company was recently approved by the Transportation Security Administration as a service provider for its Registered Traveler program.
Contacts:
John Grimaldi
Priva Technologies, Inc.
917-846-8485