How important is it that retailers get promotions right? It’s critical. First, successful marketing programs are gateways to revenue growth. Secondly, 70 percent of shoppers who receive personalized offers are more likely to become return customers.
Make Their Way Your Way
So what does “getting it right” mean? Similar to having the right product at the right time in the right place to ace fulfillment, the timing, type and parameters of promotions are critical to overall marketing success. Shopper preferences shape their responses to different offers, so incorporating behaviors and historical data into determining promotions strategy—including where and when they’re offered—will directly impact results. And most importantly, to meet the expectation of today's channel-less shoppers, these programs must work seamlessly across mobile, online, and in-store to deliver the unified experience shoppers expect.
Cutting and Pasting Parameters
Buy one, get one (BOGOs), price cuts, volume and bundle discounts, and percentage off—the options and parameters are plentiful and therefore complex. Retailers need an easy-to-use system for identifying the type of offer and its associated parameters in creating personalized promotions that are consistent across all channels. That was the inspiration for developing the OneView Promotions Engine.
Customizing the “Big 3”
Essentially, there are three types of promotions that marketers can customize to resonate with shoppers who have responded to similar offers in the past:
- Buy X, get Y
- Reduced price (a target product/group qualifies for a cost reduction)
- Basket total (a total threshold amount of a transaction triggers a discount)
By defining (or excluding certain) SKUs, product categories, arbitrary attributes, product properties and wildcards, marketers can personalize offers as well as create rewards for a product, such as:
- Segmented groups of amount off
- Fixed amount
- Types (may include Multi Groups that can be stacked for bundling; Triggers and Targets can be set up for alerts to signal a potential promotion; Tiers configurable to reward shoppers for larger purchases)
Easy setup with “Smart Search”
The OneView Promotions Engine makes searching for any type of promotion flexible, including keyed entries. Setup options for all include:
- Beginning and end date
- Status as active, inactive, or a draft
- Promotion type
- Name of promotion
- ID assigned to specific promotion
- SKUs, categories, or arbitrary attributes/prosperities
Platform-agnostic it works with many kinds of operating systems (aside from custom legacy systems). Requiring no additional hardware in the store, this cloud-based solution can be accessed and run on any computer. And its use of Java Script makes the software exceptionally versatile.
Join OneView's upcoming webinar to learn how our customers, including Wickes/Travis Perkins, are delivering highly adaptable promotions built by business users in minutes, not days. And why luxury retailers, such as Molton Brown, have selected the OneView Promotions Engine to deliver relevant campaigns based on retailer-specific rules that are aligned with their strategic marketing objectives.Save your seat, today!