Retail technology firm Symphony EYC today announced the acquisition of Slingshot, a marketing communications "one click" shopping platform, for an undisclosed sum. The Slingshot acquisition facilitates Symphony EYC's ability to offer fast moving consumer goods brands and provide retailers a more engaged digital experience with their customers.
Slingshot is used by 50 of the U.K.'s largest grocery brands, such as Tesco, ASDA, Sainsbury's and Amazon. Founded in 2011 by Stephen Darlington and Mitch Vidler in the U.K., Slingshot allows customers to add items to their online retailer shopping baskets from anywhere in one click. For example, if a customer shops online with Tesco and they browse the Doritos Facebook page, they can click the Slingshot button to add the item to their basket at Tesco without interruption to activities. The item will be added in the background and be available in their basket when they next sign into Tesco.
A complement to Symphony EYC's Connected Customer suite, the Slingshot solution:
- creates an impulse channel from any FMCG brand marketing communication, across social, digital and printed channels, to retailer point of sale;
- Enhances customer purchasing and engagement, thereby increasing customer loyalty for FMCG brands and retailers; and
- Brings retailers and brands closer together by allowing customers to add items as they see them and are persuaded to buy in day-to-day life.
The Slingshot acquisition makes Symphony EYC the only solution to connect information from the entire customer journey by combining customer pre-purchase intent with retailer transaction and loyalty data, then enhancing that information with comprehensive customer insights, according to the companies. Symphony EYC enables FMCG brands and retailers to drive those insights through the retail execution processes, including purchasing, pricing and inventory management, product choice via assortment and space, and targeted marketing. As a result, manufacturers and retailers are able to plan the assortment, promotions, perceived price and overall shopping experience around the customers' needs and preferences, thereby improving customer loyalty.
"Slingshot is unique and well-liked by our current retailer and FMCG brand clients," said Has Dosanjh, EVP of Symphony EYC. "The Slingshot acquisition brings innovation and great talent to the growing Symphony EYC digital and social proposition. Our expertise with customer data will further enhance the Slingshot proposition as we strive to make online shopping a more engaging customer experience and to help FMCG brands and retailers grow their customer loyalty."
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