LEADERSHIP, STRATEGY, AND THE ROAD AHEAD
The Weezmo team recently had a chance for a very inspiring sit-down conversation with Shai Raiten. Given the exciting advancements Weezmo is making, positively stirring up the retail arena, this conversation was very welcomed.
Retailers, you definitely don’t want to miss this…
Shai, tell us a little about the starting point of Weezmo. What sparked it all?
It all started from trash cans loaded with paper receipts.Sasha Glazman (VP R&D) and I noticed this ‘acceptable’ phenomena and felt it was wasteful and hazardous to the environment. We began to develop what we call the ‘cure’, with a vision to connect online-to-offline. Ultimately, retailers can contribute to the healing of the environment, by reducing their carbon foot print caused by printed receipts.
The CEO’s position wasn’t something I planned for. In fact, I was more interested and busier with technology. Blogging and mentoring about it.
But, together with Sasha Glazman, VP R&D, the idea of Weezmo became a reality and here we are.
My past experience was leveraged to settle me into this role. I feel it’s a combination of consumer technology know-how, networking capabilities, and strategic partnership experience.
What challenges did you witness, and still do, in the retail market. What are retailers looking for? What are consumers experiencing?
Personalization. I believe the market is looking to step-up personalization. Turn communication between retailer and consumer to a truly personal engagement. Adding someone’s name on an email blast is no longer considered personalized communication. Sending repeated text messages leads to fatigue and ignorance. Streamlining adverts on remarketing campaigns also need more tailoring.
For example, let’s say I was shopping for a vacation with the family. I searched online, got the best deal and booked it. Why do I continue seeing ads for vacations weeks later?
Another example is seeing adverts for luxury cars.Yes, I may have looked for one but wasn’t intending on buying it. It’s a waste to run these kinds of adverts.
Personalizing means, we give each customer what they need, when they need it, where they’re at.
The second challenge is the disconnect. It is a steep separation between online and offline sales. The separation between the ‘real world’ and ‘digital world’.
Retailers have incredible information right at their fingertips. It’s called the cash register. Each purchase tells a story about the buyer, about the consumption behavior and need, and even about their next purchase.But, we there is a disconnect between us and the data.
In addition, there is the issue of ‘Data Silos’ -where not all data in an organization is accessible to all departments. If this was easily managed, under one platform, and available, we could see immediate sales increase. We could do so much for consumers too, to positively impact their buying experience.
If we’re talking about data, there is a great wealth of it from online and eCommerce sales. But, very little from in-store sales. We know why that is, and Weezmo is focused to fix that.
So, how can we mend this disconnect and personalize the online and offline shopping experience?
It is my personal agenda to get retailers to ‘shine’.To get advertising agencies to ‘excel’. And, to protect the consumer’s interest too, by providing an enjoyable buying experience throughout the journey While preserving their privacy
The starting point is: THE DIGITAL RECIEPT.
Weezmo transformed it beyond just an electronic receipt, given it’s comprehensive features as a data hub for the entire purchasing journey.
The moment a customer purchases any store item, and chooses the digital receipt, we make a connection. We mend the disconnect between online and offline.
Each receipt contains comprehensive features including the store’s brand, displays relevant offers, provides tailored surveys, and personalizes the communication. One example is the use of gamification – a great way to drive engagement.
Now, with the data gathered, the adverts can be dynamically tailored too. The automated marketing tools can be focused.Dashboards map out trends and mass consumer recommendations.
The idea is to have ONE platform, that connects all channels, and provides a single clear vision. A critical tool for any decision-making executive, as well as for store managers.
Who are Weezmo’s customers, and how are they experiencing the solution so far?
Weezmo is targeted to service mid-size to big retailers from all segments.
However, not surprisingly, advertising agencies also see the great value added when using our solution. Mainly because they can provide better advertising tools, that are tailored and highly intelligent, which ultimately impact the bottom line – sales conversions and accurate ROI.
The deal is so much sweeter, when our customers find out how easy the implementation is. Intuitive receipt builder. There is no integration, no hardware, no years of development. It’s really a plug &play solution.
Needless to say, the data is protected of course, complying with the highest of standards such as GDPR.
Sounds exciting. How is the future looking? Partnerships, cooperation, competition?
It is very exciting, and there is so much more to come. First thing is we are ready to scale up. We have integrations with leading marketing and sales platforms including SalesForce, Eloqua and more. The solution is working incredibly.
The adoption is made simple, not only due to the benefits, but because of the environmental impact. Less printing. Less paper.Less harmful emissions.
As far as partnerships go, Weezmo is a really a hub.We believe that we can partner with everyone, because growing the communication circle will benefit everyone.
Our specific interest is to initially partner with cash-register companies, financial institutions and visa companies, advertising agencies, and survey organizations. Through them, we can make a stronger impact in a shorter time span. We are also looking to empower loyalty groups and departments.
By making these ties, we will be able keep the retailer’s best interest along with the consumer’s best interest.
Earlier this year, Weezmo was acquired by Nayax. Can you tell us more why Nayax?
We were super excited and honored about this investment in Weezmo. The reason this is such a great fit is that Weezmo is a complementary solution to Nayax’ advanced payment service. It was really an ideal partnership, becoming a one-stop-shop for retailers.
Nayax’ investment and global presence also allow Weezmo to reach new markets, that will undoubtedly bring out some fascinating developments for the both of us.
Weezmo will be exhibiting at the upcoming NRF conference in NY, and this is a great chance to personally meet Shai. Click here to schedule a one-on-one meeting and demo Weezmo.