Promotion performance matters more than ever

Slides:



Advertisements
Similar presentations
Verdict – 27 years of retail research Think Retail, Think Verdict.
Advertisements

Cisco Confidential © 2012 Cisco and/or its affiliates. All rights reserved. 1 Cisco Partner Plus: Premium Enablement Accelerate Your Competitive Edge.
Multichannel Personalization At Scale: Building Incremental Value With #dunnhumby.
McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.
Bringing the Voice of the Consumer Into Your Supply Chain Jake Barr Director, Consumer Driven Supply Network Global Mfg, Planning & Logistics The Procter.
Business Name (Logo) Team Name Names of Team Members Adopted for Created by.
New Opportunities for Lowe’s Partnership opportunities.
The marketer’s digital tool kit has evolved. Robust audience data, engaging experiences, multiple screens, and the sheer amount of information consumed.
Who We Are We enable our customers to gain unprecedented insights to optimize their customer, channel partner, vendor and employee relationships. TheMindSuite.
For startup businesses like TwoAnyOne, Third Team Media is the digital agency that helps startups focus on their core business during the critical launch.
Getting personal with 5 million members Ignition One Client Summit Amsterdam, June 2015.
Going where consumers are!
© 2010 Experian Information Solutions, Inc. All rights reserved. Experian and the marks used herein are service marks or registered trademarks of Experian.
© 2010 Experian Information Solutions, Inc. All rights reserved. Experian and the marks used herein are service marks or registered trademarks of Experian.
AS CONSUMERS EVOLVE, RETAIL ANALYTICS ADVANCE. Copyright ©2013 The Nielsen Company. Confidential and proprietary. 2 TODAY’S PANEL Jon Quinn Vice President,
VMob Mobile Marketing Platform Delivers Highly Targeted Marketing Directly into Shoppers’ Existing Smartphone Apps from the Microsoft Azure Cloud MICROSOFT.
Microsoft Dynamics CRM Jeanett Heller Product Marketing Manager, Dynamics Microsoft Danmark.
Pivotal Merchant Insights Presented by: Teri Nock, Corporate Trainer, Pivotal Payments.
© 2016 Global Market Insights, Inc. USA. All Rights Reserved Printed and Chipless RFID Market to reach $16.29bn by 2023: Global Market.
Chapter 30 product planning Section 30.1 Product Development
The shortcut to e-commerce For Microsoft Dynamics GP Giuseppe Ianni
Five Technical Considerations Before Bringing Your Business Online
CHFA Market Insights Solution Overview
INTRODUCTION TO INTERNET MARKETING
Information Systems in Organizations 4
of Analytics, WiFi and Experiences for Retailers
Research in the Digital Age
InComm Digital Gateway
Gather Valuable Customer Data
Discussion of Dynamic Pricing in MLB
New Trends Drive Menswear Sales
An Economy in Need of a Pick-Me-Up
The existential FMCG challenge: We are all in this together
How Smart Networks are Changing Corporate Networks
Nicole Steen-Dutton, ClickDimensions
Dollars Dominance The latest annual revenue numbers in Supermarket News’ 2016 Top 75 US & Canadian Food Retailers & Wholesalers list clearly reveal the.
Řešení pro zvýšení efektivity POS
The Importance of Custom Audience Targeting
Project Hermes Artificial Intelligence Initiative
Broad Appeal Maximizes Sales
Top Emerging E-commerce Magento trends. The progress of E-commerce industry is changing year by year, this evolution has made super easy for the online.
Attention Grabbing Nails Can Be Yours with SensatioNail Discount Code from Don’tPayAll.
Microsoft Azure Platform Powers New Elements Constellation Software Suite to Deliver Invaluable Insights From Your Data for Marketing and Sales MICROSOFT.
Shopper Insight Report
Rapid Commerce Publicis.Sapient
Approaching Advertising Aldi
American Brush Manufactures Association
Information Systems in Organizations 4
Innovative content & language solutions: Transforming digital.
Successful Plan Templates
CUSTOMER RELATIONSHIP MANAGEMENT CONCEPTS AND TECHNOLOGIES
Overcoming tech sales & marketing challenges using internal expertise
TruRating: Mass Point-of-Payment Customer Rating System Uses the Power of Microsoft Azure to Store and Analyze Millions of Ratings for Business Owners.
Information Systems in Organizations 4
January 2015 Executive Overview
Information Systems in Organizations 4
2018 Will Be a Record Year “Twice”
Building assortments has never been so complex
Why listen to me? Sr. Digital Marketing Specialist for Fastline Media Group Social media is my world Fastline has seen a… 1,044% growth in Facebook audience.
Introducing AIMEE AI Powered Multi Channel E-Commerce Platforms.
Plenty of Toy-Shopping Alternatives
Bricks and Mortar analytics
E-BUSINESS E-Business is the powerful business environment that is
Share Growth Revenue Efficiency Profit Shareholder Value
Information Systems in Organizations 4
The future of commercial planning for DSD operators
Information Systems in Organizations 4
The Intelligent Enterprise and SAP Business One
Record-Setting Industry Sales Forecast
Leveraging Best Practices for Digital Asset & Marketing Collateral Management HITMC 2018 April 6, 2018.
Presentation transcript:

Promotion performance matters more than ever Shopper behavior is constantly changing. Promotions are a key part of your value proposition yet shoppers are exposed to small pools of repetitive offers, creating a “sea of sameness”. This “sea of sameness” is further perpetuated by overreliance on backward looking optimization tools. Meanwhile the pressure to grow the topline is greater than ever. How do you apply agile approaches to breaking this cycle while uncovering the highest performing promotions, continuously? We know there’s a better way, thanks to digitally connected commerce. Eversight leverages automation and artificial intelligence to systematically uncover better performing promotions via real-world experimentation. Update Image

SNAPSHOT OF PATENTS FILED Eversight’s AI-powered experimentation approach is leading edge, with 28 patents filed (and counting!) 200+ MILLION SHOPPERS REACHED $59 BILLION IN REVENUE INFLUENCED 39%+ INCREMENTAL SALES FOR PROMOTED EVENTS 28 PATENTS FILED SNAPSHOT OF PATENTS FILED Architecture and Methods for Promotion Optimization Adaptive Experimentation and Optimization in Automated Promotional Testing Offer Generation using Concept Generator Event Correlation to Improve Promotional Testing Promotion Forecasting Behavioral Economic Patterns In Promotion Testing Online Promotion Testing Utilizing Social Media Mass Scale Online Promotion Testing Promotion Offer Language Linkage to Reduce Errors in Online Promotion Testing Parallel Scalable Experimental Methods for Obtaining Insights from Test Promotion Results Randomized Internet-Based Experiments to Obtain Insights from Test Promotion Results Using Controlled Experimental Test Promotion Results to Obtain Insights Generating and Recommending Promotions in a Design Matrix Efficient Promotion Experimentation for Load to Card Intelligent Offers with Dynamic Base Pricing Promotion Optimization with Offer Sets Applied Across Multiple Retailer or Shopper Networks Automated Promotion to Match Consumer Profiles Promotion Optimization with Pre-approved Personalized Offer Bank Intelligent Promotion Design with Promotion Scoring Intelligent Promotion Design with Promotion Selection Promotion Optimization with Objective-Driven Personalization …

Top Brands Rely on Eversight

Eversight’s Offer Innovation Suite is end-to-end, automated, and scalable Tracks in-market performance and compliance Senses market dynamics Confidently activate new offers AI recommends offer variants Builds a smart offer bank of winning promotions Dynamically tests offers with real shoppers AI identifies winning offers

Leading National Retailer Drove +1.2M Units on Key Coffee Subsegment Results Challenges Retailer struggled to maintain share on a high-margin, growing subsegment of the coffee category Traditional offers had become much less effective vs. aggressive competitive promotional strategy Sales of 1.2 million incremental units (~ $7 million) in following 12 months Activation Results (example) Experimentation and AI Revealed that Consumers Preferred Buy/Get Offers Avg. Promo Lift vs Traditional Events +73%

Revitalized Promotions in Beverages Drove a 17% - 34% Increase in Sales Results Challenges A popular regional Convenience chain (2,000+ stores) needed to revamp promotional strategy on key beverage items Replaced four key traditional promotions chainwide with new Eversight- tested winning offers (across 26 promo weeks in 2017) By shifting offer language (same discount % per unit) the retailer has increased sales by 17% and 34% on each SKU respectively (average across all 26 weeks) Experimentation and AI Revealed “Savings” Messaging Offers Drove Stronger Business Performance Example Offers SKU 1: Save $1 when you buy 2 replaced BOGO $1 SKU 2: Save 75 cents when you buy 2 replaced 2/$4 +$4.9M +$1.7M

Retailer Drove a 13% Increase in Topline Sales & 25% Lift in Household Penetration Results Challenges Retailer focused on exploring promotional options on core products beyond their traditional 2/$8 offer Needed to increase household penetration and topline sales without sacrificing margin New single price point offer improved sales and engagement at the same economics 25% increase in household penetration 13% increase in sales dollars Experimentation and AI Revealed New Single Price Point Offer Improved Consumer Engagement +13% +25%

These subtle changes add up… Median: 40% Max: 135% Median: 57% Max: 185% Median: 53% Max: 146% Performance of Eversight Optimized Promotions, compared to “control promotions” that would have otherwise been run – meta analysis of thousands of promoted product groups Max: 66% Median: 53%

AI is Here – Role of Promotional Testing and Guidelines is Changing with “Software as a Coach” From HQ push to account level pull, guideline process becomes more specific to each customer/region, driven by an empowered field capability to test to find more precise winning offers Automation and AI-powered experimentation allow teams to: Sense the promotions in market Trigger new tests with AI-powered recommended offers to try Identify winners automatically Act as a coach to say “replace this with that” Track compliance with new winning offers