FIDSUP
FIDSUP, founded in 2011 by Oliver Magnan-Surin, provides a mobile performance marketing platform that drives and measures in-store visits for brick-and-mortar retailers. It charges per in-store visit, from about $1 in fashion to about $80 in automotive, and works with about 50 brands across 2,500 retail locations, mostly in Europe. The company raised $3.7 million and had 25 employees as of Q1 2017.
The founders saw that digital ad platforms optimize and measure clicks, which creates value for e-retailers but not for physical retailers, who need in-store visits and sales. FIDSUP was built to drive and measure in-store traffic from digital advertising.
- •Charging per in-store visit ties FIDSUP's revenue directly to the outcome retailers care about, rather than to clicks that do not create value for physical stores.
- •Starting by licensing its tracking technology gave the company early revenue and customer validation before it built the ad platform.
- •Pairing in-store Wi-Fi detection with mobile display advertising links offline visits to digital ad exposure, a gap the large click-focused ad platforms did not fill.
- •Pricing that scales with the product's price, from about $1 per visit in fashion to about $80 in automotive, lets the model fit very different retail margins.
- 1.Identify a channel where the platform's default metric (such as clicks) does not match the buyer's real value (such as in-store visits or sales).
- 2.Start with a narrow, sellable piece of technology, such as licensing tracking hardware or software per location, to win the first customers.
- 3.Price per outcome, and set the per-outcome fee below your ad spend cost so the buyer sees clear return on investment and you still keep a margin.
- 4.Connect offline results to online exposure using a measurable signal, such as device detection after an ad impression, and report it to customers as proof of ROI.
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