New Startup Migo IQ Quietly Becomes Largest Beacon Purchaser in Western Hemisphere
SAN JUAN, PUERTO RICO: (STLRestaurant.News) – Migo IQ, a start-up based in San Juan, Puerto Rico, has recently purchased 65,000 beacons, making them the largest beacon purchaser in the Western Hemisphere. Migo IQ’s founder, Jonathan Kotthoff, sourced the beacons from a manufacturer in China and funded the purchases with a portion of the first round of Series A funding, received in 2015. A portion of the purchased beacons have already been installed in client locations. Remaining beacons are currently warehoused in St. Louis, MO.
The first beacon company to bring machine-learning software to beacons, Migo IQ combines beacon technology with an automated, responsive, machine-learning platform. The Migo platform allows brick-and-mortar businesses – from hotels and restaurants to gaming resorts and retailers – to offer their customers an customized and interactive experience, similar to the personalized recommendations online retailers and big eCommerce brands like Amazon offer on their websites. The introduction of this consumer-centric beacon technology marks a revolutionary advancement for physical businesses that are simply unable to interact face-to-face with each and every customer they serve. The Migo platform overcomes the operational and staffing challenges and creates the same type of dynamic, personalized experience customers crave from their leisure and entertainment options.
In late 2015, in order to meet client demand, Migo IQ purchased 65,000 beacons from a manufacturer in China, a move that made the company the largest purchaser of beacons in the Western Hemisphere, and one of the largest in the world. Migo IQ uses a dense overlay of beacons – more beacons per square foot than any other beacon company – coupled with an intelligent, machine-learning software.
Amazon and other eCommerce businesses generate approximately 30% of their revenue from personalization tools and up-sells, and thanks to Migo IQ’s unique, customer-specific recommendation engine, brick-and-mortar businesses and entertainment venues can also enjoy a higher growth in sales. An ultra-specific, dense beacon overlay provides 100% inventory coverage on physical products and experience options and generates real-time, customer-based offers, without the need for manual control and hands-on adjustment that most beacon technology requires. In fact, Migo IQ’s machine-learning software is designed to fully integrate with each business’ inventory management, customer loyalty program, and POS systems, for seamless functionality.
Keeping the consumer’s attention in a world of endless digital competition has become a major issue for brick-and-mortar leisure and entertainment venues. The demand for interactive, real-world technology that works well in the real world is what inspired the team at Migo IQ to develop a responsive, machine-learning platform for real-world use. Globally, there are about 200 companies that offer beacon technology, but none of them measure up to Migo IQ’s strategically plentiful beacon placement and automated software – a unique combination that allows brick-and-mortar businesses to compete with online distractions like never before.
With this new purchase of 65,000 beacons, Migo IQ’s beacon technology and machine learning software is now available to interested brick-and-mortar businesses who want access to a personalized, responsive machine-learning platform that translates to increased revenue in the real world.
About Migo IQ:
The first truly automated, truly intelligent, responsive mobile tool for brick-and-mortar, Migo IQ is a real-world recommendation engine. The Migo platform enables brick-and-mortar retailers and venues to increase revenue and offer customers the personalized in-store shopping experience they want, with no additional staffing needed.
Find out more about Migo IQ’s in-store beacon technology by contacting Al DeBolin, Business Development Officer, at 877-605-5754 or via email at [email protected].
Find Migo IQ online at www.migoIQ.com or on Twitter, Facebook, Linkedin, or Instagram.