With 2020 is coming to a close, we’ve taken the time to reflect on the year that was and all of the change that occurred. We've seen how quickly eCommerce has grown and how the pandemic has impacted consumer behavior and preferences. According to Analytic Partners' ROI Genome intelligence, we also learned that running promotional campaigns in the middle of an economic crisis is actually more beneficial to the brand long-term than cutting promotions, spending and media.
We also learned that as more consumer privacy laws are being passed, static demographic data is useless when everything is disrupted. Additionally, with cookies going away in the near future, brands will have to pivot by utilizing data solutions less reliant on traditional targeting techniques. In order to deliver hyper-personalized experiences, behavioral targeting and promotional personalization will drive sales in the most effective way.
We've learned a lot this year and we hope the following articles assist you heading into 2021. Without further ado, please find our top blogs from 2020:
The world economy has been disrupted by the COVID-19 pandemic in an unprecedented way affecting almost every industry. This infographic examines how consumer price sensitivity (the degree to which consumer behavior is affected by the price of a product or service) has transformed across six consumer goods categories throughout the pandemic.
2) Predictive Purchase Data: Leverage over a decade of consumer behavioral insights to deliver better performing offers and incentives
The days of generic, one-sized-fits-all marketing are gone. In a time where ROI and hitting KPIs are more important than ever, this blog explains how Predictive Purchase Data (or PPD for short), can help brands see a rise in new business, repeat customers, engagement and other key metrics.
Data is the most effective way for companies to gain a sense of clarity amid so much uncertainty. Effective data measurement will allow marketers the ability to navigate the unknowns, difficult decisions and bad actors that come their way. Using data also allows brands to create more intelligent campaigns with personalized offers for optimized trial, repeat and cross-selling. Read now to understand how three key benefits to leveraging data can help your brand optimize their promotional campaigns.
Originally part of our four-part Jumpstart series, this post highlights practical, immediate ways that brands and retailers can adapt and grow in the ever-changing world of a global pandemic. Discover three main methods on achieving successful personalization strategies.
Worldwide data will grow by 61% by 2025 - how can you make sense of it all and still have the time and resources to act on those insights? The answer is Artificial Intelligence. With troves of data, usually separated by siloes across companies, AI enables companies to analyze data faster and more efficiently than ever before. Explore how to use AI effectively for eCommerce, the benefits AI provides and how to incorporate AI into your promotional strategies.
After the coronavirus forced the country into lockdown in March, a growing number of states are now in various stages of reopening or shutting down. Brands still have to drive demand, but how can they do this safely and tactically when some items are harder to keep in stock than others? Gone are the days of having to take a reactive, unsophisticated approach to promotional and shopper marketing across the country. Discover how our solutions allow brands to geo-targeting at the zip code level enabling them to push consumers to the right location, ensuring a satisfactory customer experience.
Also, part of our four-part Jumpstart series, this piece highlighting the ways brands can adapt during these uncertain times. Cutting marketing budgets is extremely sort sighted and risky. Spending strategically throughout recession-like times is a more effective move, allowing you to continue to cultivate your relationships with consumers and increase market share. To assist brands in pivoting their strategies, we explain three powerful strategies that companies should prioritize.
Predictive Purchase Data was one of our products released in 2020 empowering brands with new, sophisticated ways to target consumers and personalize campaigns. PPD utilizes a predictive engine built without the use of any sensitive personal information or any private consumer data to analyze motivational and individual stakes for consumers to convert. In this post, we discuss six types of behavioral models that brands can utilize to deliver more personalized promotions to their consumers.
When used correctly, promotional marketing campaigns are a veritable treasure trove of data for brands and can ensure that only right customer is able to receive promotions at their preferred value. With brands looking towards short-term solutions due to the pandemic, this blog to show you how running smart offer campaigns give brands the keys to long-term solutions.
Treating each consumer as a separate and unique entity and engaging with them in a more complex interaction than the conventional one-size-fits-all strategy has become paramount for success. RevTrax AI leverages over a decade of consumer response to promotions and provides the lowest amount needed for conversion to each individual consumer. Brands that utilize AI offers up to 55% more units than with standard offers.
Amid a year filled with uncertainty and disruptions, we've worked hard to provide our clients with the tools and insights needed to succeed in the "new normal." We have a lot more in store for 2021 and as industry leaders we look forward to sharing these insights.
We invite you to reach out to one of our specialists if you have questions about any of the topics discussed above. Wishing everyone a happy, health and safe holiday season and New Year. See you in 2021!