Europäische Schule RheinMain
Finalist for the region South-East
OMNIA – the Marketing Consultant App
The current pandemic has taken its toll on the German economy. While some sectors have not been affected severely, the retail industry has had to adapt to the overall decrease in demand. This sector needs to invest in marketing, particularly online marketing or else risk their decline. Small businesses are in need of help more than ever, and they usually spend on a combination of campaigns, e.g. posters and magazine ads. However, due to market asymmetries, the companies do not know which campaign consumers have responded to. In addition, due to cost pressure, companies have to find an efficient campaign. Since small retail businesses are not able to identify which campaign is yielding them returns and may not wish to spend large sums on marketing experts, they may spend money on the wrong campaign, making their funding allocation very inefficient.
Omnia is an app which works as a marketing consultant – but free of charge. The user can measure the value of marketing (i.e. expected revenue per € spent) of each of their campaigns using an algorithm which the app suggests, specific to each campaign. With the help of this algorithm, small businesses can use their capital efficiently and increase revenue, even during a time of pandemic. The user can either calculate the ROI of their marketing directly through our app or they can seek help from our trusted marketing consultants that will charge a minimal fee. The app would also suggest marketing strategies optimized to that specific business.
Marketing experts will be consulted in the further development of the app.
We have constructed an interactive prototype of our app which small businesses can test. They have to fill in a survey to provide information regarding their business and past marking successes/ failures (if any). Based on this, the app generates accurate suggestions for marketing strategies and predicts their success.
This app is mainly designed for small retail businesses as they have to face the most severe repercussions from the economic recession as a result the COVID-19 pandemic.
This app is different from its competitors as it is not a business launched to make profit. Instead, this is a concept which will be sold to the Industrie- und Handelskammer and made available to their members. The suggestions made by the app will be well researched by experts who are pre-approved by the IHK.