Twelve years ago the concept of targeted video advertising at retail point-of-sale had become a hugely successful, multi-million dollar industry. Television screens were popping up in retail outlets all over the country. Our founder, Bart Harrison, was the video engineering guru for two of the top pioneers in that industry, World Interactive Network (WIN) in Coral Gables, FL and Retail Media Systems (RMS) in Ft. Lauderdale. RMS, at the time, was second largest in the world right behind Premier Retail Networks (PRN) in San Francisco which was then number one.
Everything seemed great for a while, but soon one fatal flaw became painfully obvious. In order to reliably attract customer’s attention an annoyingly loud audio soundtrack had to accompany the ongoing video loop. This created a number of problems, not the least of which was a phenomenon known as "employee fatigue". Employee fatigue is a condition where in-store employees become sufficiently fed-up hearing the same looping soundtrack over and over again that they either find a way to silence the audio or simply sabotage the playback equipment altogether . A number of alternatives were tried, focused sound, frequency containment, and reduced volume levels. Nothing really worked. The overall situation soon became abundantly clear. Without a sufficient level of audio to attract the customer's attention, in-store video advertising had became almost totally ineffective. Sales lift metrics commonly seen at the 25 to 30 percent level dropped to 2 or 3 percent, hardly worth the time and investment. Today a few of the "three percenters" still remain. But advertisers, now well aware of the shortcomings, are less than enthusiastic about spending money on advertising that simply doesn't work.
So, what makes us different? Confident that there must be some unique solution which hadn't yet been considered we set out to overcome this attention acquisition problem from a totally different direction. As a result, with a little luck, a lot of hard work, and some extreme out-of-the-box thinking we've developed patent pending technology which does in-fact solve the problem, attracting customer’s attention at the same high sales metrics levels previously seen, but without the need of any in-store audio whatsoever!
Our business plan is composed in-part of the following steps:
1.) Research and development of working technology - Completed
In 2005 Premier Retail Networks (PRN) sold for $285 million based on a model that essentially didn't work. So far ours does !