We know how tough the Offer-Optimization category can be to navigate for brands trying to find the right vendor. For this reason, we've constructed a buyer's checklist that will outline exactly what you need. Below you will find a series of questions that uncover competitive capabilities, as well as their corresponding value. If you have any questions, please feel free to reach out to firstname.lastname@example.org.
- Can you serve dynamic offers?
Dynamic offers allow brands to control the entire redemption process. In addition it helps brands measure who, what, when, where, and why a particular consumer purchased. With these pieces of data, brands can optimize offers using analytics rather than intuition.
- Can you deliver unique eCommerce Codes?
Dynamic codes allow brands to measure activity & secure offers. By using one vanity code like "save20", you open yourself up to possible virality but more importantly the in-ability to truly own and understand unique user behavior before, during, and after their eCommerce purchase.
- Can you leverage A.I. to deliver dynamic offers?
Instead of arbitrarily choosing a handful of offer values, AI technology backed by years of redemption data can dynamically deliver the right offer value at the right time based on implicit historical data.
- Can you track digital engagement to a resulting in-store sale?
This online-to-offline tracking allows brands to gain key insights into how their digital marketing activities drive purchases. This data is not just directionally accurate, it shows exactly how much in-store revenue is being generated by different pieces of digital activity. This is particularly useful for Retail & CPG brands where over 75% of sales occur in-stores.
- Can you prevent bad actors from accessing an offer meant for a specific audience?
Security is vital to negating virality. By preventing bad actors from accessing offers, brands can save themselves from inadvertently wasting their redemption budget.
- Can you offer access point security?
Access point security forces consumers to go through your specific flow in order to access an offer. Whether it's through a display ad, form fill, email send, social share, etc - consumers must take the actions the brand specifies.
- Can you measure the effectiveness of paid media to actual revenue?
Your Offer-Optimization vendor should be able to acquire consumer-level data on all paid media purchases. Questions like "how do I prove my marketing efforts are hitting the bottom line?" are answered with this capability. Senior level marketers will find this particularly useful as one of the most challenging things for them to prove is that their marketing efforts are working. With this capability, they will be able to give an exact dollar value.
- Can you help me grow my CRM?
This is very important for brands that have trouble owning their audience. Vendors that can help their clients build their CRM resource with information like:
- Where does unique user xyz shop?
- Where does this user most often interact with the brand?
- How often do they redeem offers?
By using this data, brands can better segment their audience and optimize for price sensitivity and purchase habits.
- Can you help me segment my audience based on their price sensitivity?
Vendors with offer-AI capabilities or a fully staffed data analytics team can help brands segment their audiences by price sensitivity backed by actual purchase data.
- Can you integrate with my DMP to help me improve my display ad targeting?
DMP integrations allow brands to leverage the learnings they get from redemption data to inform their display ads. These optimizations will help brands save money on display ads and also improve redemption rates.
- Do you require a big tech lift to get running?
For brands that do not have the tech bandwidth to implement complex scripts into the back-ends of their websites, it is important that vendors have a quick and easy product that can get off the ground with minimal tech lift.