LIFT Retail Marketing Technology Inc.

VeriFone Extends Convenience Store Digital Media Reach with LIFT Retail Acquisition

LIFT — Thu, 01 Mar 2012 14:33:08 +0000

In-Store Up-Sell Solution Complements VeriFone’s Digital Media Capabilities at the Fuel Pump

SAN JOSE – March 1, 2012 – VeriFone Systems, Inc. (NYSE: PAY), today announced the acquisition of LIFT Retail Marketing Technology, Inc., the provider of a digital marketing system designed to increase sales for convenience stores. Financial terms were not disclosed.

LIFT Retail, based in Atlanta, developed and markets the LIFT Station, network-connected digital marketing hub that integrates with leading point-of-sale systems in the convenience store and petroleum retailing market. Leveraging an advertiser-funded model, the LIFT Station personalizes the experience for each shopper by presenting relevant offers with compelling digital ads on a touchscreen display while simultaneously engaging cashiers with a friendly sales script to help close the deal.

The acquired company will be incorporated into VeriFone’s solutions portfolio as a product and services offering called LiftRetail Solutions. VeriFone LiftRetail integrates with all leading retail point of sale systems in the convenience store/petroleum segment, including VeriFone’s Ruby SuperSystem and Topaz XL.

“VeriFone LiftRetail Solutions will complement our Secure PumpPAY offering by providing gasoline retailers and convenience store operations the ability to maximize revenue opportunities both at the pump and in the store,” said Jennifer Miles, VeriFone executive vice president, North America. “LiftRetail Solutions extends our digital media reach into the convenience store environment, providing a highly accountable media platform that maximizes an advertisers return on investment.”

LIFT Retail CEO and co-founder Wells Burke joins VeriFone as vice president and general manager, LiftRetail Solutions. “With its history of leadership and innovation in the convenience store and petroleum market, VeriFone provides the scale to bring LiftRetail Solutions to the next level as we gear up to support near real-time analysis on over 20 billion unique shopping trips annually,” Burke said.

LiftRetail utilizes the latest in “big data” and cloud computing technologies to analyze tens of millions of market basket transactions and determine the optimal “Smart Suggestion” based on what each shopper is currently buying. The solution increases the up-sale conversion rate as much as 40 percent and total store sales up to 5 percent for convenience store operators by determining an optimal offer based on the products being scanned at the point of sale, prompting cashiers with transaction-specific selling scripts and simultaneously displaying the offer to the consumer on a 19-inch digital flat screen.

VeriFone’s Secure PumpPAY upgrades fuel dispensers with a PCI compliant card reader and digital screen that can be used to promote convenience store offers to consumers at the fuel dispenser. The high-resolution screens display digital content from the VeriFone Digital Network (VNET) providing advertisers and retailers the opportunity to build brand equity by reaching consumers in a highly targeted and measureable media experience.

Additional Resources:
www.liftrmt.com

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for VeriFone Systems, Inc.
This press release includes certain forward-looking statements related to VeriFone Systems, Inc. within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on VeriFone management’s current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the forward-looking statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of VeriFone Systems, Inc. These risks and uncertainties include: the successful integration of the LIFT acquisition, market acceptance and adoption of the LifeRetail solutions, our ability to protect against fraud, the status of our relationship with and condition of third parties upon whom we rely in the conduct of our business, our dependence on a limited number of customers, uncertainties related to the conduct of our business internationally, our dependence on a limited number of key employees, short product cycles, rapidly changing technologies and maintaining competitive leadership position with respect to our payment solution offerings. For a further list and description of such risks and uncertainties, see our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and our quarterly reports on Form 10-Q. VeriFone is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

About VeriFone Systems, Inc. (www.verifone.com)
VeriFone Systems, Inc. (“VeriFone”) (NYSE: PAY) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.

LIFT is International!

LIFT — Sat, 07 Jan 2012 21:33:25 +0000

Happy New Year LIFT fans! We hope you all enjoyed the holiday season and are sticking hard to your resolutions! Wrapping up 2011 was a monumental moment for us. We had a very busy year. From the press coverage, tradeshows, new clients, expanding our team, and NEW developments…we barely were able to catch our breath! But we’re proud to announce that our newest client is across the big pond….way across. FIX Convenience Stores in New Zealand! Can’t wait to see how the numbers rise for FIX after the LIFT install. Needless to say, we’re all pining to do a store visit.

Happy New Year!

The LIFT Team

Harvard Business Review Article Jan – Feb 2012

LIFT — Fri, 06 Jan 2012 21:29:56 +0000

The current edition of HBR includes an insightful article titled “Why Good Jobs Are Good for Retailers.” Here is a soundbite that reinforces the importance of cashier-enablement and the upselling imperative.

“When retailers view labor not as a cost to be minimized but as a driver of sales and profits, they create a virtuous cycle. Investment in employees allows for excellent operational execution, which boosts sales and profits, which allows for a larger labor budget, which results in even more investment in store employees.”

We agree. Investment in employees – tools, training, incentives – leads to better in-store execution, higher sales, which enables greater investment. LIFT helps every cashier perform like a star salesperson – building know-how, confidence, and sales through upselling and cross-selling. See RETAILING’S VIRTUOUS CYCLE (diagram below).

Study shows how to woo gas customers into stores

LIFT — Fri, 23 Dec 2011 15:22:23 +0000

Your best bet for luring would-be gasoline-only customers into the store is a hot cup of coffee, a new study reveals. The data addresses a chronic industry problem that started when electronic card readers were installed at gas pumps years ago, making it convenient for customers to gas up without entering the store.

The study is from LIFT Retail Marketing Technology Inc., an Atlanta company providing software and hardware designed to boost impulse purchases. LIFT studied in-store fuel purchases, at 60 c-stores that use its services. The data revealed:

• The top-selling categories with in-store fuel purchases in order were coffee, cigarettes, lottery and food service. Other notables were energy drinks and carbonated soft drinks.

• Coffee and cigarettes were three times more likely to be purchased with in-store fuel than lottery, food service, energy drinks or carbonated soft drinks.

• Fuel-only transactions represented 20% of the in-store purchases. So a sizable number of customers avoid paying at the pump even if they only want fuel.

• Fuel plus one item represents 5% of in-store purchases, followed by fuel plus two items, 2%; fuel plus 3 items, 1%; and fuel plus 4 or more items, 1%.

Technology could be used to bring gas customers into the store

LIFT — Fri, 23 Dec 2011 15:19:34 +0000

From Oil Express, 19 December 2011

A point-of-sale technology that has boosted in-store sales 2%-5% by promoting impulse buys could eventually be enhanced to also encourage gasoline customers to buy in-store merchandise.

LIFT Retail Marketing Technology currently entices in-store customers to add items to their purchase by coaching clerks to up-sell and by advertising specials on a countertop screen.

But LIFT officials say that as early as next year they could integrate the system with pump technology. Industry data shows that about two-thirds of the customers who gas up never set foot inside the store.

The data LIFT has collected shows “shoppers are fueling up their cars and gearing up for the day with a coffee, energy drink or carbonated soft drink,” says Rob Drew, LIFT’s senior vice president. “Getting the fuel-up ritual right is key to turning gas-and-go shoppers into add-on sales.”

So far, retailers who have used the system say it has been successful at promoting in-store cross-sales. Most cashiers facing a line of customers wouldn’t think to suggestive sell. They’re too interested in keeping the line moving.

“We started with LIFT in three stores and added three more,” says Andy Jones, president of Sprint Foods, an Augusta, Ga.-based chain of 14 c-stores. “We get data on how many items were upsold at each store and by each cashier. We have customers rate the cashiers. It’s great data.”

Jones’ goal is to train cashiers to be salespeople, rather than just clerks. He said the LIFT system is helping him do that. Jones has introduced upsell targets for each shift, and he’s confident the cashiers will meet those objectives.

Two weeks prior to introducing the targets, he held a contest among the stores with the LIFT program. The manager of the store with the most upsells and the individual cashier with the most upsells each got a gift card for an undisclosed amount. During the period, his top cashier upsold 368 customers. His best store made 50 upsells per day.

Jones was mum on the cost of the system and projected return on investment because he said it’s too early to tell. But he says the results he’s getting so far are “huge.”

There’s a buy and a rent-to-own option. “We boil it down to a cost per day per store between $10 and $12.50,” says Drew. “If you upsell 30 customers a day, the ROI would be 50% out of the gate.”

LIFT’s data collection for full-year 2011 shows that 11 product categories had double-digit upsell conversion rates. The top categories: energy drinks (22.6%), isotonic drinks (21.8%), Danish muffin bars (21.0%), coffee (15.2%), carbonated soft drinks (14.5%), sweet snacks (13.1%), juice (12.9%), candy (11.5%), tobacco (11.3%), water (11.2%), and milk (10.2%).

Check out our new mounting solution for the LIFT Station!!

LIFT — Tue, 20 Dec 2011 05:55:17 +0000

LIFT is a Design of the Times Finalist!

angela.elliott — Thu, 13 Oct 2011 21:45:04 +0000

Final judging to determine who will take home gold, platinum and Best of the Times awards will take place in conjunction with the Shopper Marketing Expo on Oct. 18 and winners will be announced during the Design of the Times Awards Reception & Dinner on Oct. 19 at Navy Pier in Chicago! Wish us luck!

LIFT Wins CSP 2011 Retailer Choice Best New Product Contest!!

LIFT — Thu, 13 Oct 2011 21:40:49 +0000

LIFT Retail Marketing Technology’s LIFT Station is the winner in the Software Technology Category of CSP’s 2011 Retailer Choice Best New Product Contest!

Thanks to all of our retailer fans for their vote!

LIFT Leverages Loyalty-Building Experience

LIFT — Fri, 07 Oct 2011 02:08:47 +0000

LIFT Brings Loyalty Programs to Life

ATLANTA –LIFT Retail Marketing Technology Inc. said that its new loyalty product, the company’s LIFT Station solution, uses point-of-sale (POS) technology that recommends upsell items to shoppers at the checkout counter based on what the shopper is buying.

The LIFT Station personalizes the experience for each shopper by presenting relevant offers with compelling digital ads on a touchscreen display while simultaneously engaging cashiers with a friendly sales script to help close the deal.

“Our retail customers have found that cashier enablement and engagement is the real key to providing great customer service and effective suggestive selling. Too many mobile apps leave the most important ingredient of out the equation–the cashier,” said Wells Burke, CEO of LIFT.

The LIFT Station loyalty module enables retailers to enroll loyalty customers and further personalize each shopper’s experience. LIFT can sell to shoppers based on the individual’s past purchase history, accumulate loyalty points and execute “punch-card” style loyalty programs all from the LIFT Station’s digital upselling screens.

The LIFT Station tracks every customer’s purchases and seamlessly handles loyalty redemptions with the POS register.

“Loyalty is a natural extension of the LIFT platform. We started out with basket-relevant upsell suggestions, and our customers kept asking us how we could go even further to engage the shopper and create a unique loyalty-building experience that drives new trips and differentiates them from the competition” said Burke.

The LIFT Station is a POS digital marketing hub. When an item is scanned, the LIFT Station determines the best upsell offer based on what the shopper is buying, the retailer’s promotional calendar, daypart, week-part, profitability and natural purchase affinities.

LIFT Station was recently recognized as a finalist in CSP’s 2011 Retailer Choice Best New Product Contest.

Atlanta-based LIFT Retail Marketing Technology is a leader in interactive suggestive selling POS technology.

Ricker’s and LIFT Announce Agreement

rob.drew — Sat, 01 Oct 2011 13:16:17 +0000

LIFT Station helps retailers effortlessly up-sell shoppers

ATLANTA–(BUSINESS WIRE)–Ricker Oil Company and LIFT Retail Marketing Technology announced a multi-year agreement for a chain-wide rollout of LIFT’s suggestive selling solution – an award-winning point-of-sale technology that recommends upsell items to shoppers based on what the shopper is currently purchasing.

“We are excited to be installing the LIFT Station in our Ricker’s convenience stores. We found that LIFT empowers our cashiers and helps us do a better job of engaging our customers” said Quinn Ricker, President of Ricker Oil Company, based in Anderson, Indiana. “We extensively tested LIFT and conducted a thorough ROI analysis, confirming the positive financial impact of LIFT to our bottom line.”

“The LIFT Station personalizes the experience for each shopper, helps our cashiers provide great customer service, and sell more,” added Keith Broviak, Director of Marketing for Ricker’s. “Our customers like that the offers are relevant to what they are buying, and the line keeps moving quickly because of the way LIFT can automatically add the upsold item to the transaction.”

“Ricker’s is a top notch operator and we are excited to be rolling out LIFT with a recognized industry leader. In addition to helping Ricker’s upsell, the LIFT Station help Ricker’s personalize the shopper experience with relevant offers,” said Wells Burke, CEO of LIFT.

The LIFT Station is a point-of-sale digital marketing hub. When an item is scanned the LIFT Station determines the best upsell offer based on what the shopper is buying, the retailer’s promotional calendar, day-part, week-part, profitability, and natural purchase affinities. The LIFT Station then presents the recommended item to the shopper on a touchscreen display and simultaneously engages the cashier with a friendly sales script to help close the deal. The LIFT Station tracks and reports key metrics on cashier performance and offer effectiveness.

About Ricker’s

Anderson, Indiana-based Ricker’s is an industry-leading chain recognized for its operational excellence and marketing strength. Founded in 1979 by Jay Ricker, the retailer owns and operates over 50 convenience stores through the Indianapolis and Ft. Wayne markets. www.Rickers.net