Connecting Ad-Impressions with Purchase. The new advanced Advertisement at the point of sales.

Project Information

CyreenApplication

Grant agreement ID: 889256

DOI

10.3030/889256

Project closed

EC signature date 4 November 2019

Start date 1 December 2019

End date 31 May 2020

Funded under

• INDUSTRIAL LEADERSHIP - Innovation In SMEs

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

CYREEN GMBH
Germany

Periodic Reporting for period 1 - CyreenApplication (Connecting Ad-Impressions with Purchase. The new advanced Advertisement at the point of sales.)

Reporting period: 2019-12-01 to 2020-05-31

Summary of the context and overall objectives of the project

Due to prevailing analytical limitations in the marketing industry, it is oftentimes hard for advertisers to assess the impact of a campaign and in turn understand how to improve its effectiveness. Therefore, Cyreen developed a marketing solution C.A.P. (Connecting Ad-Impressions with Purchase): A novel digital marketing channel installed in grocery stores. The intelligent system ensures that shoppers see relevant content during their purchase decisions. C.A.P. then connects the seen content with a shopper’s transactional data (anonymously), enabling unique big data analyses to measure the advertising effectiveness.

We believe that this project can help to increase the effectiveness of marketing measures due to the use of highly standardized and large amounts of data. However, since the process can function completely anonymously, society benefits from it by not being unwillingly exploited in terms of personal information. Cyreen fights against this intrusive trend apparent in the industry (i.e. Facebook).

The overall objective of the project is to further develop an effective marketing channel and successfully incorporate it in the retail industry. Cyreen aims to create a transparent marketing tool, which helps advertisers to run, measure and optimize campaigns while treating personal information with the highest level of respect.

Based on the feasibility study, the final conclusion of the action is to continue the project.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

The project was being assessed for technical (i.e. automated analytics & enhanced system stability), commercial (i.e. international market assessment & reinforcing contacts) and financial (i.e. financial forecast & profitability) feasibility. Due to the positive evaluation of all these three dimensions, it was concluded to continue the project. In addition to the feasibility study, the software and hardware of C.A.P. was continuously improved and Cyreen prepared the necessary technical and commercial arrangements for an accelerated scaling of the system.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

Next to introducing an unorthodox, anonymous marketing solution during the personalization hype, C.A.P. has the potential to positively impact local brands and producers around our stores. Since the advertising can be hyper-regionalized, small and young companies can run effective ad campaigns with actionable insights. Hence, C.A.P. can foster the retail digitalization and help small businesses to bring new products to the market and compete against established market players.