RCS - Electric Guitar PLC - Loyalty App to Leverage Open Banking Data

Electric GuitarAnnouncement

25/09/2024 08:15

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RNS Number : 5925F  Electric Guitar PLC  25 September 2024

 

25 September 2024

 

 

Electric Guitar PLC

("Electric Guitar" or the "Company")

 

Development of Loyalty App for 3radical Clients Leveraging Open Banking Data

 

Electric Guitar PLC (LSE: ELEG), the digital marketing and advertising company
providing first-party data solutions, is pleased to announce a significant
development in its digital marketing and technology portfolio through a
strategic collaboration between its primary operating subsidiary, 3radical
Limited ("3radical"), its joint venture Marcomms.ai and financial technology
innovator, Little Birdie. This partnership has resulted in the creation of a
loyalty app that integrates Open Banking data, enhancing consumer engagement
and providing personalised financial insights.

 

The loyalty app is aimed at empowering 3radical clients with advanced tools to
better understand and engage their customers. By incorporating first-party
Open Banking data, the app provides businesses with unparalleled insights into
customer spending habits, preferences, and financial behaviours. This data
will enable the creation of highly personalised and relevant loyalty
programmes that resonate deeply with individual users.

 

The collaboration also enables Open Banking data to be incorporated into
3radical's Global Data Store (GDS), adding value to the intellectual property
already contained within 3radical's existing database which contains over one
billion engagement data points. 3radical's GDS is already being deployed by
Marcomms.ai to underpin its AI-powered engagement products.

 

Key Benefits of the Loyalty App and Open Banking Data Integration:

 

·    Enhanced Personalisation: The app leverages Open Banking data to
offer a deeper understanding of customer behaviours, allowing 3radical clients
to tailor offers, rewards, and promotions to individual financial profiles.
This level of personalisation ensures that customers receive offers that are
not only relevant but also timely, significantly improving engagement and
satisfaction.

 

·    Data-Driven Insights: By integrating Open Banking data into the GDS,
3radical clients and Voco deployments gain access to a broader and more
comprehensive dataset. This integration allows for more sophisticated data
analysis and segmentation, enabling businesses to craft highly targeted
marketing strategies that align with customer needs and preferences.

 

·    Improved Customer Retention: Personalised loyalty programmes driven
by real-time financial data will encourage repeat engagement, fostering
long-term customer relationships. The app's ability to provide value through
personalised offers will enhance customer loyalty and retention rates, as
customers feel more understood and valued by the brand.

 

·    Competitive Advantage: The combination of first-party Open Banking
data with the GDS positions 3radical clients at the forefront of data-driven
marketing. This unique approach to customer engagement provides a significant
competitive edge, as businesses can offer experiences that are far more
personalised and relevant than what is currently available in the market.

 

·    Comprehensive Customer Profiles: The integration of Open Banking data
into the GDS enriches customer profiles with financial behaviour insights,
enabling a more holistic understanding of each customer. This comprehensive
view of the customer allows businesses to predict future behaviours and needs,
further enhancing the effectiveness of marketing campaigns.

 
John Regan, CEO of Electric Guitar PLC, commented:  "The development of this loyalty app represents a significant milestone in Electric Guitar's strategy. By integrating first-party Open Banking data with our Global Data Store, we can provide our clients with a powerful tool to deliver highly personalised and impactful customer experiences.

 

"This innovation is just the beginning of a series of initiatives aimed at leveraging data and technology to create next-generation marketing tools which enhance consumer relationships and extend 3radical's product offering, bringing with it significant new revenue opportunities."

 

Martin Bould, Co-founder of Little Birdie, commented: "We are delighted to be
collaborating with Electric Guitar to bring the power of Open Banking, and the
hyper-personalised insights and recommendations derived from it, to the
Loyalty market. This collaboration underscores the potential for Little
Birdie to deliver both deeper engagement and greater rewards for consumers
and businesses."

 

For further information:

 

 Electric Guitar PLC

John Regan (CEO)                                      +44 (0)7721 348826

 Allenby Capital (Nominated Adviser and Joint Broker)  020 3328 5656

 Jeremy Porter

 Piers Shimwell

 Dan Dearden-Williams

 Axis Capital Markets (Joint Broker)                   020 3026 0320

 Richard Hutchison

                                                       020 7048 9400

 Global Investment Strategy UK (Joint Broker)

 James Sheehan

 Yellow Jersey (Financial PR)

 Charles Goodwin                                       020 3004 9512

 Annabelle Wills                                       electric@yellowjerseypr.com

                          (https://appriver3651008983.sharepoint.com/sites/CompanyData/Shared%20Documents/Corporate%20Finance/Mandated%20Transactions/Electric%20Guitar/Announcements/electric@yellowjerseypr.com)
 Bessie Elliot

 

Notes to Editors

 

Electric Guitar PLC (AIM: ELEG) is the provider of first-party data solutions
for the marketing and advertising industry, empowering businesses to realise
the value of their first-party data. In an era of changing consumer attitudes
towards the use of their data, tighter privacy legislation, and the demise of
third-party cookies, first-party data is now the key to success in digital
marketing. Electric Guitar's strategy is to acquire and scale businesses that
help marketers maximise the value of first-party data by curating, managing,
and deploying it, and in doing so making Electric Guitar the industry standard
for first-party data solutions.

 

As the first part of this strategy, Electric Guitar acquired 3radical Limited,
a company that utilises its Software as a Service platform, 3radical Voco, to
enable organisations to engage individuals and request their data directly
using interactive digital experiences. It has since entered into
collaborations with several other businesses operating in the field, as well
as a joint venture with Exelia Technologies Limited called Marcomms.ai for
producing AI-driven products and services for the digital marketing and
advertising industry.

 

For further information please visit www.electricguitarplc.com
(http://www.electricguitarplc.com) .

 

About 3radical

3radical provides businesses with gamification and audience engagement
solutions through its Voco platform. The company helps brands create
compelling, interactive experiences that captivate and retain customers,
driving deeper engagement and measurable business outcomes.

 

About Little Birdie

 

Little Birdie is the UK's leading subscription and recurring payments
management platform. Users can manage all of their subscriptions and recurring
payments for products like mobile phone, broadband, energy, pay TV, streaming,
food box subscriptions or gym membership in one easy to use app. The app
enables aggregation of all the payment methods users have (via Open Banking),
alerts for price rises, contract or free trial end dates, price comparison,
switching and cancellation. There is a also a market place for the latest
deals and offers on subscription products.

 

You can find out more about Little Birdie at www.littlebirdie.co.uk
(https://gbr01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.littlebirdie.co.uk%2F&data=05%7C02%7Cbessie%40yellowjerseypr.com%7Cfd587a02c4a143b5608308dcd26738f2%7Cc7fee44edc6a4490a4ea0667cc994b7d%7C0%7C0%7C638616588372621487%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=W6Qmc4OnuOJrlViVQju1RfwCvBoPwgygObmR4%2BqRhA0%3D&reserved=0)
 or contact them at hello@littlebirdie.co.uk
(mailto:hello@littlebirdie.co.uk)

 

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