The past 25 years have been a transformative era for technology and advertising companies. Worldwide advertising has become a trillion-dollar industry, with over 60% being digital. Despite the rise of digital, mobile, e-commerce, and talk of the metaverse, the majority of our purchases will always be in the physical world. So why do we need a third party in the middle of local business-to-consumer relationships? We are literally across the street from each other, and Web3 can bring us together without some third-party company in the Bay Area monetizing our every move, post, view, and action. GOTYOU brings authentic, real, verifiable, and valuable people and businesses together, revolutionizing local commerce.
As our economy evolves, restaurants and retail stores are feeling the pinch from all sides. Despite the rise of digital tools, most retail and food purchases are still made in person rather than online or through delivery. This reality underscores the need for businesses to forge direct connections with their customers and tap into the power of local communities. GOTYOU bridges this critical gap by bringing visibility between the digital and physical worlds. For most local businesses, their greatest resource is sitting right in front of them.
A recent conversation with the owner of a Jersey Mike’s franchise revealed the shocking reality that hundreds of customers walk in and out of their store daily without the business knowing who they are. This translates to thousands per month. The corporate marketing team has access to data around the loyalty members, but that does not have a direct benefit for the local franchise. So the franchise owner is left only knowing the transaction amount and last four digits of a credit card 85-90% of the time, Google knows who is there, how they got there, where they came from, the route they took, and where they went after. Every local store, restaurant, mall, and shopping center provides a trove of data, insights, and content that powers big tech.
With an average order value of $15-$20, even getting a small percentage of those customers to return one or two more times could result in a 20% revenue increase. This impact is significant for thousands of franchise and business owners. Just imagine if they had access to Google-like data and AI that automates customer engagement and interactions—now things really accelerate for these businesses. They start to lower their ad spend, and at the same time, consumer frequency increases, putting the power back in their hands.
Businesses are striving to connect with consumers in their communities, but as consumers, we are using apps that control our behavior. Platforms like delivery apps use data, advanced AI, notifications, and location services to drive more orders to drive their profits, not necessarily designed to help a specific merchant. These middleman platforms prioritize their profitability, not the success of small businesses.
This trend started with platforms like Groupon, which sold half-price offers to consumers and split that revenue with merchants. While Groupon saw billions in revenue, the benefit to merchants was questionable. Many BOGO and other offer platforms aim to drive more customers into stores, but if businesses aren’t equipped to capture those customers and bring them back, the marketing isn’t effective. There are few tools to help merchants understand what works and what doesn’t. Leaving them to HOPE that it works, when the truth is digital marketing was built for e-commerce, not local commerce.
GOTYOU changes all of this. With a single click, a consumer not only checks into a business but also makes a direct connection. Leveraging the latest in Web3 technology, we facilitate easier and more valuable connections between businesses and their customers. Consumers can earn GET tokens, which never expire and have real cash value, every time they refer others to that business, answer surveys, leave feedback, and soon, through real-time check-ins and social posting.
Even when businesses have consumer connections via sms or email, they may not drive real value. Last Saturday, I gave two businesses my phone number. One texted me four times, and the other twice. HOw long will I stay connected to them? As consumers we walk into 1-2 stores daily, and 60-70% of these may be new visits. We are less likely to join lists or single-business apps when we don’t intend to visit often.
The universal approach is key to GOTYOU, similar to what made DoorDash and Groupon appealing. The big difference is that we don’t own the consumer or business data; we just facilitate the relationship. Merchants love it because we lower their advertising and engagement costs, and consumers appreciate the instant rewards for their efforts.
At a recent event, we had customers download GOTYOU, check in, leave feedback, and answer surveys. Their reactions when they saw $0.20 or $0.50 drop into their digital wallets were amazing. It was like they had just won at bingo.
Web3 technology will revolutionize the local business-to-consumer ecosystem. GOTYOU is a winning combination for merchants, consumers, and communities. We need to stop the hundreds of billions leaving our communities in the form of advertising and keep it at home, where it can be better utilized. Every advertising dollar used locally to incentivize users multiplies right here at home, wherever home is for you.
In this changing landscape, Web3 and GOTYOU offer a transformative solution. By moving from centralized marketplaces like Yelp, Facebook, and DoorDash to decentralized platforms, every merchant owns a first-party connection, and consumers own their data. They can monetize their content and personal profiles. Big Tech profits $2-3 each day by using us as their product. Web3 gives us the chance to reclaim some of that value. Imagine the power of using AI to monetize our own data and leveraging technology to empower our communities. Advertising will never be the same. This is one of the best use cases that could bring billions into Web3, where everyone can have a digital wallet and earn cash by doing what they already do: posting online, engaging online, and buying local.
Conclusion
The shift to Web3 technology heralds a new era for local businesses and consumers. GOTYOU exemplifies this transformation by facilitating direct, valuable connections that benefit both parties. As we continue to expand into new markets, including Salt Lake City, St. George, Utah, and Riverside, California, we remain committed to enhancing local commerce. We hope to add dozens of markets in 2024 brining technology to help these communities, thousands of businesses, and millions of consumers.
By eliminating unnecessary intermediaries and empowering consumers to own and monetize their data, GOTYOU is not just changing advertising but also strengthening our communities. Join us in this revolution and experience the future of local business engagement today.
