When business leaders talk about personalized offers, they envision a system that treats each shopper as a market of one — understanding their micro-behaviors, preferences, and intent. The reality? Systems are rooted in segments and fall short of delivering true personalization. This blog explores the traditional, segment-based approach to delivering "personalized" offers, and the 5 key challenges it faces.
One of the most fashionable sales strategies employed by leading brands, such as SSENSE, Hugo Boss, UNKNWN, Harry Rosen, and Naiman Marcus, is Private Sale events.
New data privacy restrictions have resulted in conversions from social media advertising (i.e., Facebook, Instagram) to decrease and costs of acquiring customers to increase by as much as 222%.
Mass promotions (e.g., 20% off sitewide) are widely used by retail brands. The question then is, are mass promotions effective in delivering on your expectations?
Offers have substantial influence on customer acquisition and retention. Yet, the power of offers to improve business results can and usually is underestimated. Understanding which offer strategy maturity stage you're in and how to evolve to the next one is critical in delivering better business results.
