The Overlooked Gold Mine of First-Party Purchase Data

Posted by Jonathan R. Pinney on Mar 5, 2017 4:58:34 PM

How to Create, Capture, & Leverage First-Party Purchase Data to Drive Meaningful Growth (part 1 of 2)

Author: Jonathan R. Pinney

Not all digital coupons are created equal.

You may be asking why that matters in a conversation about data.

It matters because the right digital coupons can provide you with a deep well of first-party data that you can’t get anywhere else. The right digital coupon can tie a specific consumer to the online engagement that activated their purchase intent and resulted in an actual purchase, closing the online-to-offline path-to-purchase loop and giving insight into how other consumers could be activated in a similar way.

Unfortunately, most brands overlook this data or don’t even know it’s available.

Following is how to create, capture, and leverage this often-overlooked gold mine of first-party
purchase data.

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Topics:  CPG Industry  /  Whitepaper  /  Retail Industry  /  Online-to-Offline  /  First-Party Data

Taking the Mystery Out of Measuring Social Promotion Effectiveness

Posted by Michael Biafore on Sep 13, 2016 8:00:00 AM

The Unique Power and Value of Social Promotions

Social Promotions have a special ability to drive trial and loyalty far beyond other types of digital coupons – by combining the activation power of a promotional or coupon offer with a seamless way to share an offer, and presented with a personal recommendation or referral. They leverage relationships and personal good will to spread brand and promotion awareness, to build brand equity, and to strengthen consumer commitment to the product and brand. Well-designed social promotions can also be an incredibly effective way to help initiate a new direct, long-term consumer-brand relationship via email capture. Sharing a promotion isn’t just additional distribution, it’s an offer delivered along with a personal stamp of approval. We see our clients deploying social promotions with extraordinary results for both mass- and niche-market products. For products with small niche markets, or for products that might carry some level of stigma, such as specialized personal care products, social promotions can be an incredibly cost-effective way to identify and reach new customers.

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Topics:  Whitepaper

How to personalize and target promotions without a CRM program

Posted by Jonathan R. Pinney on Aug 15, 2016 10:03:39 AM

Introduction


Every brand team knows that certain messages resonate with a target audience while others do not. After all, finding and delivering the appropriate message to the appropriate audience is one of the primary goals of brand marketing. Delivering that consistent message through all touchpoints should be a top priority.

As such, this messaging should also remain consistent through digital promotions – one of the closest trackable touchpoints before a consumer purchases your product. Personalizing your digital promotions allows you to deliver the appropriate message and offer to each of your target audiences. 

But what if your organization does not have a CRM program? Is it possible to personalize your digital promotions without CRM?

The answer is: Yes.

By using the right incentive platform, it is possible to personalize your promotions without a CRM program by using information you know about anonymous consumers.

In this whitepaper we will discuss the types of data that can be used to personalize promotions and how to enable that personalization. Doing so could lower redemption costs, increase redemption rates, and help gain market share.

But first…

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Topics:  CPG Industry  /  Whitepaper

OfferArchitect™: The New Paradigm for Digital Offer Testing

Posted by James Xing on Jun 28, 2016 2:14:50 PM

Introduction

Building an effective digital offer is no easy task, with many different aspects going into it.  Of course, there is the finance side: figuring out budgets and the best discount for your marketing dollar. But what if you understood your customer just a little bit better?

At RevTrax, when we enable our clients through our OfferArchitect™ product, we put both monetary and non-monetary insights to work. We consider non-monetary insights comprised of psychological, social, cognitive and emotional factors on purchase decisions, and utilize the most advanced research techniques, including data science, and multivariate testing. Here’s a glimpse into the process we take at RevTrax to provide our clients with creative digital offers that increase in-store traffic:

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Topics:  CPG Industry  /  Whitepaper

How to Measure & Compare the Real Distribution Costs of Promotions

Posted by Michael Biafore on Mar 31, 2016 3:47:23 PM

Freestanding Insert (FSI) Distribution Holds On – But How?

Promotions industry executives, and self-declared pundits, often claim that the demise of the printed freestanding insert is imminent, soon to be replaced by digital promotion incentives. Some market data supports this assertion: FSI distribution is stagnating, newspaper home-delivery is dwindling, and FSI redemption rates are declining. According to Inmar’s 2015 Promotion Industry Trends Report, printed free-standing-insert redemption rates in 2015 averaged only 0.39%, or 256 coupons distributed to generate a single in-store conversion – down from 0.58%, or 172 coupons to generate a single redemption in-store in 2010. How can FSI still account for nearly 90% of all coupons distributed?

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Topics:  Whitepaper

The Future of Digital Promotion Intelligence

Posted by Randy Malluk on Mar 31, 2016 3:30:54 PM

Performance Assessment

Accurate data collection and analysis are fundamental processes in assessing business performance. Common metrics such as sales revenue, product cost, and profit margin are the basic reporting or accounting components required to measure ‘bottom line’ success. Unfortunately, the overwhelming majority of organizations employ only ‘Descriptive Analytics’ - the organized reporting of past events - to inform future decision-making, an analytics methodology ill-suited to support the increasing demands of digital customer engagement.

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Topics:  Analytics  /  Personalization  /  Big Data  /  Data  /  Whitepaper

How to write a ‘killer’ digital coupon request-for-proposal

Posted by Jonathan Treiber on Mar 31, 2016 3:25:12 PM

Introduction

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.

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Topics:  CPG Industry  /  RFP Design  /  RFP Generation  /  Whitepaper

The Art & Science of Personalized Offers

Posted by Greg Hansen on Mar 31, 2016 3:21:27 PM

Offer Types

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.

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Topics:  Personalization  /  Big Data  /  Promotional Analysis  /  Whitepaper