Brands will not only receive direct, real-time access to invaluable data about their target consumers but also be able to engage them with the right message at the right time in the right place. Proximity marketing and location-based services delight consumers and drive profitable behavior (e.g. spending time in a casino.)

Proximity marketing is not a new concept, but its growing at a 29.8% CAGR and will reach $52.5 billion by 2022 according to MarketsandMarkets. In fact, 75% of US retailers have already integrated beacon technology into their marketing strategies and seen a 9% increase in profits with a 175% ROI. As a leader in wayfinding, indoor positioning and location-based services integrations and location-based services, Phunware’s proven suite of SDKs can seamlessly engage customers wherever they are.

Mobile accounts for nearly 70% of all digital advertising and last year, it passed TV as the leading advertising medium in the US². However, brands are often driven by inadequate metrics like click-through rate (CTR) and conversions, which can be gamed by fraudsters using fake accounts as well as non-human actors like spiders and bots.

The answer to this problem is an elegant part of blockchain technology and a critical part of Phunware’s enterprise solution. Mandatory KYC (i.e. know your customer) and AML (i.e. anti-money laundering) guidelines verify consumers, while self-sovereign identity allows people to store their identity data on their own devices and provide it efficiently to anyone who needs to validate it without relying on a central repository of identity data.

By blockchain-enabling Phunware’s data exchange, brands have the ability to verify and audit identity data to better understand the audiences they are building.

• Acquiring a new consumer is five times more expensive than retaining an existing one.
• The success rate of selling to an existing consumer is 60–70%, as compared to only 5–20% for a new one.
• Increasing consumer retention rates by 5% increases profits by 25–95%.