Location and time based personal mobile marketing
Oikian: a real-time mobile marketing platform delivering relevant content to consumers at a very specific time and location, enabling personal engagement resulting in higher conversion rates.
In 2011 three experienced mobile industry professionals realised that there was no turn-key solution to address the need for hyper local consumer targeting. Oikian was founded to serve this need.
At the Oikian Solutions our starting point was to think of the local business. Those who have a local brick and mortar business. Whether it is in the basement of a city centre apartment building or at a major shopping centre, the situation is the same: around the store there are customers who would like to buy their products or services. Customers just need to know where to find the local business and what it can offer to them.
What elements consist of the local products? What are local businesses competing with besides their products? Our answer: they are competing with good personal service and with the fact that they are just in the right place at the right time. Right where customers are. So the solution that will bring the two together is constructed from the same building blocks : time, place, personal service.
Once a customer is nearby and has a intention to buy something, they are almost at the store. The job of the local business is to tell them where to come at this moment. Oikian has developed a tool, which is a direct channel from a local business to the customer‘s pocket. The information about the company and the offers fly to their personal phone when they are close to the store. They immediately see where they should go and what they get from there.
We have chosen the latest technologies to serve local businesses and we have made it so easy to use that they do not need to be a technology specialist to use it. They make adverts more easily than an ancient potter created an image of a pot to the sign. We at the Oikian Solutions take care of the rest – and customers will always be aware of the local businesses.
We have developed a mobile marketing software platform that can benefit shopping centres, restaurant and retail chains, event organisers and software developers. Our software works on all mobile platforms and we can provide software that serves customers exactly in the right way. The technology we use is based on a patented platform solution. It takes advantage of the mobile device location data and targets marketing in almost scientific precision exactly to the right person, at the right time and in the right place.
Mobile marketing is growing much faster than any other marketing channel. Consumers have already realised this and they expect even better mobile services – right when they are on the move and when they want to find a product that they are looking for. They want to find the right local business.
Our business & market situation
When customers are on the move, a local business needs a way to get them to come to their store. The solution is simple: local ad – consumers' pockets. When consumers are near, the message reaches them. It gets to their phones just at the right time. At the moment, when they are actually already looking for a certain local store, not realising it themselves yet.
Time and location based mobile marketing is not difficult – on the contrary, it is easier than most other methods. You only need to tell what a store has to offer. All the rest is done by us.
Oikian value proposition is targeted to retail, leisure, hotel, transport and publishing sectors. Our white label solution will be tailored for any need very rapidly and will be in the the use of consumers within four weeks. Our SaaS based technology is scalable, and ready for expansion.
Mobile marketing is growing fast. And we provide the right solution for mobile marketing needs.
- 70% of UK consumers own a smartphone
- 32% of UK online sales were via mobile devices (Q4 2013 IMRG)
- 51% of of UK retail website visits from mobile devices (Q4 2013 IMRG)
- 55% of retail shoppers using a mobile device to research, want to purchase within the day/hour
- 60% of retail consumers expect to find a location within 5 miles
- Frequent mobile shoppers spend 25% more in-store, than people who only use a mobile occasionally to help with shopping
- 90% of smartphone shoppers use their phone for pre-shopping activities (Google SMC)
By Gardner, mobile marketing is growing at 34% CAGR over the next 4 years, reaching $27bn by 2017. By IAB, UK mobile ad spend will be £2bn in 2014 and £3.2bn in 2015. OIkian Solutions have a healthy market position in Finland with several major Finnish customers. Oikian Solutions is currently expanding its business to the UK having the first two UK customers by the end of 2014.
Business model and competitive advantage
With mobile advertising growing at a rapid rate, consumers will become disengaged with brands that deliver non-relevant, non-personalised content. Data segmentation can help to improve this, but requires user registration and is not accurately location aware. Also, national offers made through mobile advertising may not be fulfillable locally due to stock levels or store locations. Current app technology does not allow local initiatives at store/restaurant/hotel level to deliver offers only to local consumers with offers to boost high-street engagement. Oikian Solutions has developed a mobile marketing solution, which covers all these points: it targets local consumers for local brick and mortar businesses. From the consumer's point of view it brings the content they want at the right time at the right place. For the local businesses it is the way with the latest mobile technologies to activate the passive by-passers to come to your store.
As a competitive advantage we have proprietary IPs in place. Also the team is extremely experienced having world class knowledge and experience in mobile technologies, targeting technologies and business strategy. We have proven ability to execute: We have seven Finnish clients and two UK clients under our belt, Sanoma and Kaleva being well-known media companies and Daniel Footwear being a luxury footwear retailer.
Where are we now and what happens next?
- Founded Oct 2011
- Initial funding of 250 000 euros in Dec 2011
- First patent application in EU and US Jan 2012
- First product launched Feb 2012
- First customer Jul 2012
- UK market outreach Jan 2013
- VC funding Apr 2013
- UK office Nov 2013
- Business angel funding Dec 2013
- First UK customer Apr 2014
- First multi-national customer May 2014
- SaaS model ready to scale Dec 2014
- Self-serve system Jan 2015
- 2 full-time UK sales managers Apr 2015
- Significant UK market share Aug 2015
- First US customer Dec 2015
- Over 1m Euros revenue 2015
- Series A funding Dec 2015
- US office Jan 2016
Investment will be used to roll out sales and marketing activities in the UK and Nordics
- UK MD / Sales Director
- 2 x Senior Business Development
- 1 x Account Director
- PR/Marketing head
- Marketing actives (AdWords, Events etc.)
- Web content
With these resources the company will scale its business revenue to the level of 1 million euros. In addition, activities will enhance our thought-leadership position in the area of mobile marketing and targeting technologies.
The Oikian team is a group of very experienced individuals who can innovate, analyse, decide, and develop new product concepts extremenly fast. As one technology professional says it, "Oikian has an exceptionally innovative team". Under their belt they have about a hundred technology patents including a few essential ones, like having a web browser on a mobile phone and sending ring tones over text messages.
This team makes new ideas real.
Chairman of the BoardKai Öistämö has an extensive career in international technology development. He joined Nokia in 1991 and has been responsible for many mobile phone business units throughout his entire employment period. In 2005-2014, he was a member of the Nokia Group Executive Board. In addition, he works in Sanoma Corporation’s Board of Directors, as the Chairman of the Board of the University of Tampere, and as the Chairman of the Board of Tekes. Mr. Öistämö is a Doctor of Technology. http://fi.linkedin.com/pub/kai-öistämö/a/b74/22a
CEO and co-founderMikko Lietsalmi has worked in the technology and software development for over 20 years. He was responsible for Nokia’s software strategy and has worked in international software development environment throughout his career. He is the author of nearly 100 international patents related to mobile technologies. Mr. Lietsalmi has studied both software and business development in the Oulu Business College and in the University of Oulu. http://fi.linkedin.com/pub/mikko-lietsalmi/7/962/617
COO and co-founderPasi Pikkarainen is an experienced director of product development and an agile expert. During his 20+ years career he has been responsible for managing international software development units and challenging product development projects in Elektrobit and Nokia. Currently his special passion is with the mobile Internet business challenges. Mr. Pikkarainen has a degree in Master of Science, Computer Science. http://fi.linkedin.com/pub/pasi-pikkarainen/4/5b9/35a
CTO and co-founderSami Halonen has been involved in challenging software development projects since the early 1990′s. His responsibilities with Nokia were large international software development units and his success led him to be amongst Nokia’s top tenth leaders. He is expert in agile development and he is a mobile development visionary. Mr. Halonen’s education is the Master of Science, Information Processing Science. http://fi.linkedin.com/pub/sami-halonen/5/40/197
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