Over 2 billion offers are redeemed by United States consumers annually¹. Marketers who do not take the proper measures to secure offers put their organization at risk for lost revenue through over-redemption of offers gone viral. Fortunately, modern technologies enable marketers to distribute offers without worry.
An offer management platform (OMP) is an effective safeguard against fraudulent redemption as marketers can control what offers they distribute, measure campaign effectiveness, and save money reaching the right audience at the right time. Take a closer look at the significant benefits of an OMP to distribute offers across brand sites, email, paid search, social media, display ads, affiliate networks, direct mail, and more.
Control Offer Distribution
1) Enhance Security to Reach the Targeted Audience
Security is paramount in offer distribution. An OMP’s security features give marketers more control over offer distribution at every level. User level security ensures that an individual user can only access an offer a finite amount of times. These users must come from approved sources like a paid ad, social media post, email link, etc., to redeem offers. Most significant is that the offer templates themselves have security to protect against fraudulent redemption with validation protocols. Retailers can confirm critical attributes or deactivate offers at the point-of-sale using this technology.
2) Limit Fraudulent Offer Redemption
Proxy server and non-standard internet service provider (ISP) blocks allow consumers to always access offers from standard domestic ISPs, but cannot use fake IP addresses provided by black hat ISPs or offshore proxy servers in an attempt to circumvent security features. Additionally, the global redeemer score measures the ability to measure bad engagement or over-redemption by the consumer and creates a global scoring system across clients to block bad actors.
Measure Campaign Effectiveness
3) Gain Actionable Insights
Sometimes it’s difficult to track offers across digital channels. Construction of a promotions database using an OMP can help analyze trends over time and get insights necessary to shape future marketing strategy and potential offers. Too often, marketers outsource offer delivery to mass coupon sites and are left without the insights needed to create successful future campaigns. Today, brands can use the RevTrax Offer Management Platform to build valuable first-party data that integrates with existing data assets to collect insights and ultimately deliver personalized offers to increase offer redemption rates.
The RevTrax Offer Management Platform enables marketers to run campaigns at scale while maintaining first-party data and comprehensive analytics to continue to grow their business.
4) Connect the Path-to-Purchase Journey
Audiences may access offers on one channel, and redeem them on another. The Offer Management Platform is a solution designed for marketers to connect granular information about audiences, media channels, and other key attributes to each conversion. Given that the OMP can connect multiple channels on the platform, it’s a viable solution to track conversion from digital engagement to in-store sales. Knowing where customers are engaging every step of the way can help marketers determine what offers to present when and where during the buyer’s journey.
Save Money and Maximize Campaign ROI
5) Inform Your Media Targeting with Data
By generating the data they need to make smart decisions, an offer management platform can help marketers improve the efficiency of offers and realize significant cost savings. Sales conversion data can be used to inform media targeting and eliminate wasted spend.
6) Offer-Value Testing for Cost Savings
Offer-value testing enables brands to identify the minimum ideal offer value that would delight and engage customers to reduce costs and maximize ROI. An OMP utilizes audience data from your DMP, CRM, and other existing data assets to help you determine the right offer value to increase the chances of redemption on specific channels. Read our offer-value testing case study to see how we helped a major lifestyle brand achieve over $800,000 in promotional savings using offer-value testing with RevTrax.
The RevTrax Offer Management Platform is an advanced solution for marketers to launch offers across channels with enhanced security to protect against over-redemption. An OMP helps brands and marketers control, measure, and save on offers while improving insights for future marketing campaigns. To learn more about using an OMP to improve the quality of offers contact us today.
Jonathan Treiber is the CEO & Co-founder of RevTrax