BEACHWOOD, Ohio, Dec. 5, 2011 /PRNewswire/ -- DDR Corp. (NYSE: DDR) today announced the launch of ValuText, a location-based, mobile marketing service specifically designed to drive sales and productivity at the company's prime assets. ValuText is a unique program that couples physical retail assets with state-of-the-art, location-based mobile marketing. The program allows shoppers to connect with desired retailers as they enter the shopping center to avail themselves of real-time sales and promotions.
ValuText will send immediate offers from retailers within a designated shopping center via text message to opted-in shoppers once they enter a "geo-fence," a pre-defined, virtual space established around DDR's prime assets. Since geo-fence technology is compatible with 92% of U.S. mobile phones, this initiative will allow all DDR tenants to reach the broadest possible audience.
"DDR is committed to ensuring that our retailers have every tool they need to succeed," said John S. Kokinchak, senior executive vice president and chief administrative officer of DDR. "ValuText helps our tenants by giving potential customers access to real-time, location-based offers, thereby driving traffic to their stores. In addition, the program creates value for shoppers by providing timely information at the exact point of purchase – the shopping center."
In contrast to existing value-oriented mobile or social media programs, ValuText simplifies usability for both shoppers and retailers. It works on nearly all phone types, and merchandise values are delivered via text message without the burden of downloading or activating a smartphone app, repeatedly checking into a virtual location or printing an actual coupon. Shoppers simply opt-in once.
To create ValuText, DDR has partnered with a pioneer of geo-fence mobile marketing, Placecast. Geo-fence technology has been used today by over six million opted-in consumers through different programs from carriers like AT&T in the U.S. and Telefonica in Europe, as well as over 75 major consumer and retail brands.
Previous Placecast efforts in retail environments have driven impressive consumer feedback, including:
- 74% of participants like the fact that their location is used to deliver messages
- 53% of participants reported visiting a specific retailer after receiving a location-based alert
- 22% of shoppers in similar programs reported making purchases at participating retailers based on receiving a location-based alert
- For nearly 50% of shoppers, the retail visit prompted by the text was unplanned; for 19% of those surveyed, the alert served as a reminder
"It is gratifying to know my landlord is interested in more than collecting a check," said Laurel Mueller, owner of Bead it!, an independent custom jewelry shop at Centennial Promenade in Denver, Colorado. "DDR is investing in the success of my small business with a unique program I believe will distinguish this shopping center from the nearby competition."
Moreover, industry experts have begun to recognize the vast potential of location-based marketing which further leverages the unique and dynamic pre-existing relationship between landlord, tenant and consumer.
"Retail shopping centers are primed for location-based mobile offers," said Kathryn Koegel of Primary Impact Research, a leading mobile marketing and technology research firm located in New York City. "They already have retailer relationships and locations with millions of shoppers making regular purchases. They are well-positioned to optimize existing foot-traffic and connect consumers with relevant and timely deals."
ValuText reflects DDR's continued commitment to creatively market its prime assets and use the power of technology to assist all tenants, national, regional and local, in enhancing store performance.
DDR is an owner and manager of 538 value-oriented shopping centers representing 134 million square feet in 41 states, Puerto Rico and Brazil. The company's assets are concentrated in high barrier-to-entry markets with stable populations and high growth potential and its portfolio is actively managed to create long-term shareholder value. DDR is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol DDR. Additional information about the company is available at www.ddr.com.
SOURCE DDR Corp.