RevTrax often receives and answers requests for proposals (RFP) from consumer package goods companies looking for a digital coupon provider. The irony? We dedicate an extraordinary amount of manpower to each RFP, but they are too often evaluated based on the limitations and experiences of working with legacy digital coupon platforms, and do not consider the advances in both customer engagement and digital incentive technology. Certainly, historical experience is the foundation for formulating future action, yet it often neglects evaluation of alternative, more effective solutions in the marketplace. Quite simply, overreliance on the past often inhibits forward-thinking decision-making, which results in perpetuating the status quo instead of innovation.
Targeted and personalized offers have much higher levels of engagement versus anonymous ‘spray-and-pray’ incentives. Targeted and personalized offers are closely related but they are not necessarily the same. If a digital promotion targets consumers only with specific demographic characteristics, it is considered a targeted offer. If incremental purchase data, from customers within the same demographic profile, is incorporated into the coupon selection process; it provides the opportunity to deliver a personalized offer.
While traditional back-to-school retail campaigns target moms and dads, it’s time to incorporate a top trend: Millennial spending. According to the NRF, teenagers spend millions of dollars of their own money on back-to-school items, and 1 in 10 parents say back to school purchases are influenced by their teens. If your back-to-school marketing campaigns are geared more toward the younger members of the household, chances are you’ll get a bigger chunk of their business.
We have just released our latest client case study, focusing on a leading department store with more than 100 locations across the United States and highlighting the impact of mobile influencing in-store sales.
Of the 5 internships I’ve had while attending NYU, RevTrax has definitely been the most valuable in understanding and shaping my own personal interests and career goals. I’ve always had a keen interest in the digital marketing space and interning at RevTrax has taken this interest to a new level.
Topics: Company Culture
If you’re like me, you are probably sick of hearing and reading about ‘Big Data’. Everywhere we turn, we see big data as a topic of discussion, debate, and concern. Yet, it was interesting to learn recently that the BI and Analytics software market in the US only grew about 8 percent in 2013 to $14.4 billion according to Gartner. With all of the hype around big data, why isn’t the market for analytics tools growing faster?
Most professionals can recollect an event or conference where a keynote speaker presented some new and dynamic industry challenge, alongside the buzzword that defines it. Oft-overused terms, they are frequently misused, misinterpreted or misunderstood. For retailers, one of those such words is ‘omnichannel’.
In late April, Google announced some big changes rolling out across the AdWords platform, changes that will have an effect on paid search campaigns. As Google continues to dominate the paid search market, accounting for 84% of the world’s paid search market share, understanding the best search marketing strategies to apply is imperative to a successful paid search campaign within the current digital landscape.
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.
Topics: Company Culture