CASE STUDY OVERVIEW
Sonae Sierra is a leading European company specializing in shopping center management, and Footprints AI is an AI-native retail media platform that uses indoor and online behavioral data to create a comprehensive view of customer behavior. The two companies collaborated on a pilot project at ParkLake Shopping Center in Romania to validate a new type of revenue for shopping centers by using AI and shopper data. The pilot project aimed to address the challenges faced by Sonae Sierra in the changing retail environment, particularly the need to capitalize on its >50 million individual shoppers' data, becoming a global player in the most valuable market today: data.
The retail landscape has evolved significantly in recent years. Sonae Sierra, like other shopping center management companies, faced challenges in providing a tailored shopping experience to customers and in generating revenue streams from retail media platforms. The traditional approach to retail media did not allow for targeted and personalized messaging to customers, and advertisers were not seeing the return on ad spend they desired. Sonae Sierra needed a new, data-driven approach to retail media that would enable personalized messaging to customers and increased revenue for shopping centers.
“Footprints AI has enabled us to tap into the most valuable market today: data. With this platform, we can deliver a personalized experience to our customers, while generating new revenue streams for our shopping centers. The pilot project at ParkLake Shopping Center was a success, and we are excited to see how this technology can help us continue to grow and evolve as a company." Ricardo Rosa, Head of Innovation, Sonae Sierra
To achieve the pilot results, Footprints AI used advanced analytics capabilities and customer data & audience management capabilities. The technology and methodology involved using machine learning algorithms and building information mapping to generate indoor paths and create affinity profiling, behavioral clusters, and predictions for individual shoppers.
- The technology allowed retailers to predict future shopping behaviors and automatically create predictive audiences.
- FootprintsAI's data and AI technology helped the participating brands achieve a 5 to 8 times Return on Ad Spend versus Search Ads and Social Ads.
- By tapping into Sonae Sierra's data, Footprints AI was able to provide a personalized experience to their customers and generate new revenue streams for the shopping center. The results of the pilot project included a 90% satisfaction rate from all participating brands.
Shopping Mall Wi-Fi - Web - Mobile Devices - Mobile Apps – Search Media - Social Media
Footprints AI provided the technological capabilities required to overcome the challenges faced by Sonae Sierra. The platform uses indoor and online behavioral data to create a comprehensive view of customer behavior, allowing for targeted and personalized messaging to customers.
- Indoor Shopping Behavioral Profiling: Footprints AI collected customer behavior data from indoor shopping environments using ambient connectivity and mobile sensors. The collected data was processed using machine learning algorithms and building information mapping to generate indoor paths. The algorithms also created affinity profiling, behavioral clusters, and predictions for individual shoppers.
- Online Behavioral Profiling: Footprints AI collected user identity and profiling data from all digital channels to create a comprehensive 360-degree shopper profile view.
- Offline-to-Online Fusion: Footprints AI's proprietary AI technology combined offline and online customer data to create a comprehensive view of customer behavior.
- Prediction and Targeting: Retailers could use Footprints AI to predict, target, and sell based on customer behavior, both online and in-store.
The pilot project at ParkLake Shopping Center resulted in several key successes, including a 90% satisfaction rate and seven brands wanting to continue running ads through Footprints in the shopping center. Footprints also secured a frame agreement with Publicis France for Samsung with a media budget for the next 6 months.
The project's estimated return on ad spend was 5 to 8 times higher than search ads and social ads for the brands that were part of the pilot project. Sonae Sierra was able to overcome its challenges and capitalize on its shoppers' data, becoming a global player in the most valuable market today: data.
Through the implementation of the Footprints solution, ASIROM has improved the overall customer experience, making it easier for customers to find the desired insurance product, and allowing agents to focus on building customer relationships. The results speak for themselves and demonstrate the power of Footprints in driving success for retail businesses. Footprints AI is the most advanced retail media platform in Romania and has helped ASIROM, and other retail businesses achieve better results through personalized, automated, and efficient interactions with their customers.