Birmingham tech firm aims to socialiise online selling for retailers

A BIRMINGHAM-based technology company has launched a social referral platform which is designed to help retailers increase referrals, revenue and conversions.

Owned it, a spin-off from the Oxygen Accelerator start-up programme, converts the retailer’s order confirmation page into a showcase for social sharing of tailored offers and incentives.

Owned it has been in stealth mode since its inception but is already working with retailers from 18 different countries in the consumer electronics, gadgets, gifts and fashion sectors.

The tech company said while most retailers focused on converting customers up to the point of purchase, many failed to make effective use of the order confirmation page to increase sales further.

Owned it said its platform turned shoppers into brand advocates by providing them with tailored incentives to share information on recently purchased items with their friends and family. The retailer gains exposure to new visitors from the customer’s social circle, leading to more sales while the customer, friends and family gain an incentive, such as discount codes, free delivery or cash back.

Manoj Krishnapillai, co-founder and managing director of Owned it, said: “Lots of opportunities exist for retailers to generate additional sales by engaging more with their customers via social media, but retailers are merely thanking their customers for a purchase on the order confirmation page and not using this opportunity to drive loyalty and sales. At the order confirmation stage, customers are usually excited about their purchases and are more inclined to share details with their friends and family.”

The business, which has received £100,000 of funding from Finance Birmingham and private investors, has already received endorsements from retailers benefiting from its new platform.