Owned it, an Oxygen Accelerator start-up, has launched its social referral platform, which helps retailers to increase referrals, revenue and conversions by turning the retailer’s order confirmation page into a springboard for social sharing of tailored offers and incentives.
Based at the Science Park’s Faraday Wharf building, Owned it has been in stealth mode since its inception and is already working with retailers from 18 different countries in the consumer electronics, gadgets, gifts and fashion sectors.
While most retailers focus on converting customers up to the point of purchase, they often fail to make effective use of the order confirmation page to increase sales further. Owned it’s platform turns shoppers into brand advocates by providing them with tailored incentives to share information on recently purchased items with their friends and family. The retailer gains exposure to new visitors from the customer’s social circle, leading to more sales while the customer, friends and family gain an incentive, such as discount codes, free delivery or cash back.
Owned it’s suite of customer engagement apps enables retailers to create and customise a wide range of social and referral campaigns. The built-in campaign optimisation module allows shoppers to be segmented according to a multiple criteria including the products they buy and customer demographics, helping retailers identify campaigns that will deliver the best results and optimise the offers accordingly. For instance, shoppers buying on weekday mornings may respond better to cash backs than gift codes or competitions – Owned it allows these shoppers to be targeted with relevant offers automatically.
Owned it also incorporates social listening features. When offers are shared on social media channels such as Facebook, Owned it allows retailers to see what shoppers are saying about their brand when offers are shared – this information can be used to revise future campaign offers.
Owned it is available as an easy to install plugin/add-on for major ecommerce platforms including Magento, Opencart, Zencart, Ubercart and osCommerce.
Costas Damianou, Owner, MagicTao, an online retailer and the largest producer of magic tricks in Europe comments on Owned it: “In less than five minutes, we set up our first Facebook campaign using Owned it. By running a simple campaign more than 20% of our customers became fans of MagicTao’s Facebook page. Now that we have new followers, we can engage and communicate with additional customers and their social circles very easily. A pre-Christmas product promotion also demonstrated the value of Owned it – substantial sales were generated from a Facebook marketing campaign targeting the new fans that liked us as a result of our first Owned it campaign.”
Co-founder and Managing Director of Owned it Manoj Krishnapillai: “Lots of opportunities exist for retailers to generate additional sales by engaging more with their customers via social media, but retailers are merely thanking their customers for a purchase on the order confirmation page and not using this opportunity to drive loyalty and sales. At the order confirmation stage, customers are usually excited about their purchases and are more inclined to share details with their friends and family.”
With four subscription levels, based on the number of transactions per month, and no contract, Owned it’s service is suitable for both large and small retailers.
Owned it has received £100,000 of funding, from Finance Birmingham and private investors and is looking to raise another round in 2013.
Link to screen shots: https://www.dropbox.com/sh/p4sxafqwv543w35/3xI53W35rQ