Information is the key to the success of any business. While there are several analysis tools in the online industry that can collate the data, there aren’t enough for the offline industry. Moreover, the available ones are costly and, therefore, unconducive for the company. Korean data tech company Danbi offers analytics tool ‘Fi’ for offline businesses. It collects data from the offline consumption process and uses this data and infrastructure for companies in the offline store/Adtech /Payment industry.
The data collected can be integrated with the brand membership data to refine the advertising. By tracking the visitor’s lifestyle, travel platforms can advertise their platform to people who love traveling. Stores/businesses can advertise to people who only pass by their stores and also see the change in the floating population near the building. The service collects detailed data such as age, sex, phone number, the device they are using, time spent in the restaurant, visit-to-sales ratio, etc., which can help businesses make informed marketing choices.
Danbi’s easy ‘Fi solution.’
Founded in 2015 by Joseph Kong, the company’s ‘Fi’ service is a data-driven solution for an offline local business using wifi. It has Ad Fi, which is offline visiting data, followed by Order Fi, which is a personal order data. It collects offline payment data so one can see all the sales data on one’s platform. Finally, there is Analytics Fi, the service which analyses data for an offline business. There is no requirement of a third-party app download, and one can access the menu and order via wifi. The wifi signal can display each user’s language, thereby making it easy to use by non-native speakers too. The company recorded 3,000 stores with WIFI AD in 2019 alone. Danbi has attracted investment from Tristar Ventures in the US and TIPS.
Plans on expansion
The wifi advertising solution is just one of the offline penetration strategies of the startup. With the success of the advertising strategy, the company has achieved the largest number of partner stores in the shortest period among offline business solution startups in South Korea. They are now expanding to management, remote orders, visitor information analysis services via mobile device signal, and CRM marketing. With success in Korean market, Danbi is also entering the Vietnam market with its offline analytics solutions and expects potential business with prominent companies in the country.