Our new investment – Up Close
FMCG companies spend hundreds of billions of dollars annually on television advertising of their products. At the same time, our experience as consumers tells us that we don’t make decissions to buy a specific brand of product when we are watching commercials. We dicide at the last moment, in store. Could companies be able to use their advertising budgets better than on interrupting our favorite TV series? It seems that indeed they could.
Let’s start with a system that would show us ads at the point of sale, where we have the opportunity to react immediately with a purchase. Especially if the advertisement shows us on which shelf the recommended product lies. A campaign of this type implemented using printed materials placed in stores is, however, expensive and uncomfortable to implement. Sensible solution would be therefore be in-store displays. And even better – displays connected to the network, enabling the centralized management of displayed content and easy settlement of advertising fees. The Up Close project adds to this system another important element – the analysis of traffic at the points of sale and modifying the displayed content based on the characteristics of the target group defined by the advertiser. In this way, for example, ads targeted at women are displayed when women are near a given monitor. The system based on machine learning will be responsible for properly matching the displayed content to the demographic characteristics of the people who are watching it, hence the quality of the system will increase with the time and the number of points of sale.
“In a situation where the customer wants to receive relevant information about the available products in the store, stores want to use their space to the maximum, and advertisers want advertising that is effective and its effectiveness is easy to calculate, the POP TV system developed by Up Close is a win-win-win solution. In addition, the content management platform means that the solution will be very convenient for advertisers and maintenance-free for the stores. So I am convinced of the huge market potential of POP TV. “- says Marcin Bielówka, president of the INNOventure fund. The fund has just invested in the development of the project. Up Close will use funds raised for POP TV (point of purchase TV) software development.
More information about the company can be found in the portfolio.