SAN FRANCISCO, November 03, (THEWILL) – Software company, Rancard, has introduced a solution ‘Rendezvous,’ a social recommendation engine, which consists of a social graph and a recommender algorithm.
The solution enables users ‘discover’ services and products they might be interested in, based on their social preferences and recommendations from their close circle.
Speaking at the product launch, which was held in Lagos recently, Rancard’s co-founder and Chief Executive Officer, Kofi Dadzie, pointed out that many brands struggle to find relevant audiences, squandering their marketing budget in the process.
With Rendezvous, he explained, brands can take advantage of the goodwill of social recommendations to find the right people with the right cost.
“Social recommendations are the most trusted form of engagement for most people in viewing ads,” he said, “in browsing online stores, publisher apps and portals. Recommendations from people we know and trust are made possible by Rendezvous with a map of shared interests among people in a social graph. The Rendezvous technology is optimized to take advantage of this form of marketing.”
Rendezvous is also based on a cost per acquisition (CPA) pricing model, which means that brands only pay when the solution meets their marketing objectives.
“Clients set a budget, define target, and pay only when we deliver,” Dadzie said.
“The beauty of Rendezvous is that you can find exactly the people you are looking for,” Director of Strategy at Yellow Brick Road (an advertising agency), Nnenna Onyewuchi said at the launch.
Yellow Brick Road had employed Rendezvous for a client’s campaign, and Onyewuchi remarked that it helped her firm to meet the campaign’s objectives with unbelievable accuracy.
Also, Rendezvous has been integrated with Loop, a lifestyle mobile application from FirstBank that delivers premium content from across the world right to its customers’ mobile phones.
Head of Sponsorships and Events at the bank, Bridget Oyefeso-Odusami, remarked that Rendezvous has “made the shopping experience better and seamless.”
Likewise, one of Nigeria’s leading online retailer, Konga, is also harnessing the recommendation power of Rendezvous.
Vice President of Marketing at Konga, Gabriel Gab-Umoden, noted that “social recommendations and affirmation is the next big frontier; it’s very important.”
“One of the challenges we have at Konga is segmenting audience tastes and needs, because the market is so big,” he said. “But social
recommendation makes it possible. We look forward to redefining the shopping experience.”
Rancard, a company with roots in Ghana, is backed by prominent investors like Intel, Adlevo, and Peninsula Capital.
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