Big Brother has the capability to watch – and respond to – your every spending move. That’s the premise behind Toovio, a startup that has created technology to help retailers and other consumer-facing companies market personalized offers to their customers in real time.
Think of the scene in the film “Minority Report”, when Tom Cruise’s character is walking through a mall while his eyes are getting scanned and he is being bombarded by a slew of personalized 3D ads.
“We call it offer orchestration,” said Toovio’s CEO Josh Smith, 31, of the capabilities that allow companies to communicate custom offers over a range of channels that include checkout, website, kiosk and customer-service call centers.
“We have visibility into their (customers’) previous behavior,” he said. “There’s learning, based on whatever interaction is happening, and we’re getting smarter – hopefully driving revenue.”
Toovio, which already has a number of small to mid-sized companies in the U.S. and Europe using its technology, will next month test a service that takes advantage of mobile apps that consumers download on their smart phones.