‘Recognition Triggers’- a new ad tool created by Powa Technologies- lets people to take a picture of any advert and buy the product in just two taps, with no need to scan QR codes, or go to websites.
The technology, integrated with mCommerce app PowaTag, recognises normal ads, without QR codes or similar.
Once an advertisement is scanned, the app will find the product and consumers can buy in just three seconds, using pre-entered payment and delivery information. This innovation creates a glide path to growth, transforming the fortunes of brands who are struggling to convert adverts into purchases.
This comes at a critical time for businesses, as spending on advertising in the UK continues to spiral, growing at twice the rate of the economy; ad spend is predicted to reach £20.7 billion in 2016, with the global figure expected to hit £452.2 billion. Businesses make this investment without a clear measure of its impact on sales.
By linking the transaction directly to the advert, PowaTag gives insight into ROI, down to the level of highlighting the most productive place for an individual advert.
Dan Wagner, eCommerce veteran and CEO of Powa Technologies, comments: “There are a number of barriers which usually get in the way between seeing an advert and purchasing the product – your local store might be out of stock, or you might get interrupted as you go through online checkout, or you might simply forget about the product. By enabling consumers to buy directly through the advert in seconds, brands can be confident that their advertising budget is delivering real returns.
“For the very first time, brands can measure the true impact of their campaigns, tracking which individual advert promotes the most sales and amongst which demographics. PowaTag can collect the data which says an advert in Vogue converted into more sales than a billboard at Piccadilly Circus, or the insight which says an individual consumer really likes red shoes but isn’t so interested in black ones. Given the tremendous expenditure which advertising swallows up, these metrics are an invaluable means to develop directed advertising and personalised customer relationships.”