Sophisticated solutions for digital transformation.
When you think about digital transformation, it could mean a whole range of broad concepts of moving toward a more connected brand strategy. When we think of digital transformation, it’s much more narrowly defined as a business’s investment in new technologies to empower them to digitally compete for customers. Even in this tumultuous economic downturn, today’s consumers expect companies to be available 24/7 to answer their questions and engage with them beyond the purchase. The lack of those sorts of features can have a serious impact on future buying decisions. But there’s a method to this madness. Smart brands must make their digital transformation into a data-driven, customer-centric promotional strategy.
For years, brands have utilized a wide variety of technological solutions to execute promotional campaigns across their preferred digital channels to motivate customer purchases. At this point, you have to have some sort of digital presence. But at the same time, marketers have leveraged those promos — things like coupons or special offers — using rather unsophisticated solutions like email service providers, social workﬂow tools, ecommerce platforms, and so on.
These may have counted toward digital transformation a decade ago, but right now they usually lack critical features that brands need to connect and measure digital consumers behaviors that make actual sales.
You see, that type of digital transformation benefits a brand up to a certain point. What’s needed now is a mutually beneficial transformation for both the brand and consumer to connect the dots across channels and ensure unrivaled customer experiences.
It’s easy for a brand to end up wasting valuable dollars if they don’t have proper full data science that encourages a customer-centric framework. The ability to seamlessly zero in on quality details of the data means you don’t have to worry about playing catch-up down the line with siloed inaccuracies or so-called “dirty data,” which causes inconsistent data sets to measure against. Even worse is lack of data altogether. How could you take advantage of data strategies when there’s none to actually drive business?
RevTrax offers its client partners the ability to leverage insights from billions of consumer engagement data points to determine ideal pricing and promotions in a privacy-by-design framework that uses state-of-the-art predictive techniques.
The ability to capture all relevant path-to-purchase data, which seamlessly links marketing to sales, and creates an invaluable ﬁrst-party data asset for continued optimization and increased results, is key. This actionable data, across all digital and sales channels, can be served in real-time and easily connects to other preferred databases. It’s also privacy focused, utilizing a predictive engine purposefully built to not store or use sensitive personal information or expose any consumer private data.
RevTrax data services in particular are based on over a decade of experience studying consumer response to offers and state of the art machine learning algorithms. But let’s check off even more key features:
- To suppress churn-happy deal-seekers, we ensure that data can be used to target full-price buyers that engage with brands for the right reasons and are more likely to be valuable long-term customers.
- To ensure higher conversion rates from targeted media, we’re able to understand which consumers are most likely to convert and can help brands create audiences that are more likely to engage, make purchases, and return.
- To drive more successful shopper campaigns, we can help brands target consumers who are most likely to shop at individual key accounts for a specific category or type of product.
All of this is through a massive pile of targeted data. The amount may seem impressive, but that’s only because it capitalizes on the fact it’s data that’s worth reading. Quality data means you don’t have to worry about playing catch-up down the line because more data doesn’t necessarily mean better insights. The key is to have a consistent data set to measure against. Our solution empowers brands to create personalized consumer experiences through data: pricing, preferred channel, preferred vendor, and more.