PeaCube Communications, Inc.
"Word of Mouth" is the most effective form (judged by actual purchases completed) of advertisement by a large distance. Reference The Boston Consulting Group, September 2015 Report "What Really Shapes the Customer Experience" - Exhibit 1, Page 7. In the retail sector, customer service is assessed to be almost as important as price in influencing the purchase decision.
PeaCube solves the problem of a) capturing and b) broadcasting / scaling "Word of Mouth" advertising from individual shoppers who have visited a physical store. As a proxy or barometer for "word of mouth", we use a 5-star rating model that mimicks the experience of rating an UBER or Lyft ride.
The Solution is a software that PeaCube provides to the store, so the shopper does NOT download anything, and which enables the store to message the shopper to rate their experience AFTER they have left the store.
What's so special about PeaCube?
a) Talk to NON-PURCHASING shoppers after they have left the store and convert them to purchasers.
PeaCube can be used to message a non-purchasing shopper as easily as it can be used to message a shopper who has purchased.
PeaCube engages the undecided in-store shopper at the top of their decision funnel. Statistics show that shoppers often engage a physical retail experience several times before a purchase (for a new customer) or a loyalty/rewards (for an existing customer) occurs. So by effectively dropping an anchor to the customer as they leave the store, the retailer can more quickly know the customers' orientation and influence them accordingly pre-purchase decision.
Our tests indicate 7-10% of all store customers will use PeaCube for the purpose of rating their in-store experience on a daily basis.
b) Almost NO TRAINING required of shoppers or store staff. Easy intuitive interface.
PeaCube does not require the customer to download any software or remember any code number. It has a low cognitive load for the customer.
c) HIGH ROI achievable for many stores.
PeaCube is totally "opt-in" to the customer. There is zero pop-up or interuption marketing that would annoy the customer. After taking the customer survey, the shopper can be directed to make a purchase, download an app or engage in some other interaction/conversation. PeaCube charges the store on a SaaS model. Assuming the store can make a total profit of just $100 from having 1,000 shopper interactions, then the store would make an ROI of over 300% on using the PeaCube software (based on using the software without any customizations or modifications).
About the Company
PeaCube sends a ratings survey using SMS messaging to a store customer. The store customer uses that SMS message to rate their store experience. Key to all of this is the patent-pending privacy framework PeaCube has developed for getting the store customer to share their phone number or email. In a nutshell that is what we are - a super specific, highly atomized version of Yelp. The specificity is derived from the use of SMS (we are patent-pending for both email and text). PeaCube has been seed funded by Flashpoint @ The Georgia Institute of Technology.
At the simplest level, the problem that PeaCube solves is to remove the communication barrier between the ultimate provider of a physical product/service and the recipient of that product or service. On a higher level, the problem can be viewed as one of raising the level of trust in the omni-channel shopping experience.