[The following is an except from a 20 page business plan]
INTRODUCTION:
The better you know your customers, the more effective you can be.
In the highly competitive markets of consumer goods industries, big data is the game changer. By knowing each customer better, retailers can dramatically improve relevancy and efficiency of every commercial interaction. Unfortunately, small and medium-sized enterprises (SME) have low to no budget to invest in consumer research and marketing. SME are competing against large retailers who have outperformed them by leveraging big data in personalized marketing.
This is especially a big problem in China, where the market is so fragmented without reliable data. SME are aware of the competitive threats and desperately want to engage, but they do not have the tools or scale to do so. The growing consumer expectations for relevant marketing and the potential for gain if customer intelligence could be brought to these SME, provide incentive and imminent opportunity for the companies in the data mining industry.
Viridi Technology hopes to capture this opportunity by providing SME an easy solution: consumer data collection through digital receipt mobile applications. We are giving SME the opportunity to increase their revenue margins by at least 30% by converting secondary, lower-valued shoppers into loyal, high-value shoppers through affordable big data strategy. The digital receipt mobile app is a simple way for retailers to not only effortlessly and cost-efficiently collect information about their customers, but to also communicate with them more effectively.
See Appendix A for visual on how Viridi works.
INDUSTRY ANALYSIS:
China is the new land of opportunity where it is facing the arrival of the “big data” era.
Studies predict that consumer data in China is to become the world’s most important data market, growing from $2.3 billion in 2014 to $8.7 billion in 2016.
Because it dramatically improves target marketing, big data can improve economic efficiency. For instance, about 36% of retailers admit that they have customer data, but don’t know what to do with it; therefore, they are underutilizing their potential asset. With big data, retailers are able to gain on average 60% increase on their marketing ROI. 3
Currently, there is a disproportional amount of firms in China conducting big data analysis for the amount of national demand. While many leading Chinese enterprises have already realized the value of big data for driving innovation and increasing competitiveness, there are not enough skilled professionals to deploy and maintain the infrastructure based on these new technologies…