Mike, currently in the midst of relocating his family to New York, joins the RevTrax team in the role of VP of product management. Already proven to be a notable presence in the office, through his passion for work and our company, Mike has quickly become known as a great storyteller around the office. Read on to learn more about our new hire latest addition to the executive team.
We’ll start with an easy one. Baseball or Football?
Baseball. Life-long Red Sox fan, but I like and respect the Yankees in spite of myself.
What was it that made you think RevTrax was the perfect fit for you?
I have this crazy-level passion for finding the match of a great product to what clients cannot do without. Not just something they kinda want, but what they cannot do without. I think RevTrax offers a product that hundreds of CPG and retail clients cannot do without, most just don’t know that yet. But they will.
What challenge(s) do you hear most from marketers?
- Show me how to be a more effective marketer (so that I can prove it to my boss).
- Teach me how to do more with less.
What’s the toughest part of your job?
As a Product Manager I need to say ‘no’ much more than I say ‘yes’. My main focus is on developing products and helping to articulate the selling messages for those products. The toughest challenge is determining which product ideas (whether cool, exciting, otherwise attractive, but sub-optimal) will go into the ‘no’ category.
What’s your favorite RevTrax product?
I love the Survey Insights product. It makes our smart coupons even smarter. The product allows us to identify how many new, or incremental customers a client’s promotion drove, or even how many customers were competitive takeaways. Such insight is huge for our clients.
Any tips for marketers looking to incorporate digital coupons into their marketing strategy?
Marketers need to ask: why would we not offer our customers the opportunity to access a digital coupon from any of the campaigns we do across all digital channels – display, social, or even FSI media? The number of digital coupons redeemed in 2013 alone increased by over 140%, and the trend is expected to continue to rise – so how could you not leverage your digital and FSI media to do all that it can for you?
What’s the biggest change or innovation you’ve seen in the coupon industry in the past 20 years?
The incredibly rapid shift in the way media is consumed. Five years ago, mobile and online media were maybe, and don’t quote me on these numbers, 25% of all media consumption, now it’s over 40%. For comparison, print is 4% of all media consumed, so consumers now spend 10x more media time online and on mobile. In a year or so, mobile and online will represent half of total medial consumption. That’s huge.