With new consumer privacy laws, the disappearance of third-party cookies, and web browsers cracking down on tracking, it is becoming harder for brands to deliver the type of personalization consumers expect.
"Consumers are 2.1x more likely to view personalized offers as important versus unimportant." - Salesforce
Over the past decade, RevTrax has analyzed how consumers behave to variances in pricing and promotions. Over 1.2 Billion data points and over 47 million consumer transactions across several consumer categories later, RevTrax is able to analyze both known and unknown audiences and place them into groups with similar spending habits.
Armed with these insights, brands can deploy hyper-personalized offers and promotions with a higher chance of conversion to both existing and new audiences in a privacy by design framework. By using causal analysis, Predictive Purchase Data (PPD) can determine what it will take to motivate an individual consumer to convert - driving more sales, customer acquisition, repeat purchases and brand loyalty.
Leverage the power of behavioral personalization to increase conversions, enhance loyalty and drive sales without dependence on audience tracking technologies.
Improve the consumer journey and campaign outcomes by personalizing offers for both known and unknown audiences.
Increase consumer intelligence with an additional data layer that is non-intrusive and adheres to all consumer data privacy laws.
Very similar to how Google's FLoC technology works, brands utilizing Predictive Purchase Data will not understand consumer behavior or interests at an individual level, instead they will understand how groups of consumers behave in regard to variances in pricing and promotions.
Predictive Purchase Data proposes a new way for businesses to reach consumers with individualized offers, while at the same time allowing the people who are targeted to remain anonymous.
PPD is an additional data layer which helps customize each individual's experience throughout the customer journey. 70% of consumers say a company's understanding of their personal needs influence their loyalty. (Salesforce)
Irrelevant marketing is a universal turnoff. "When personalization is done well, there's a 6.4x lift in satisfaction, further endearing people to the brand, cementing brand loyalty and encouraging them to shop more." (SailThru)
Price Sensitivity: Helps marketers predict how price sensitive a new or existing customer is within a product category.
Full Price Buyer: A simplified version of Price Sensitivity that helps marketers predict if a new or existing customer is a full-price buyer within a product category.
Retailer Preference Rank: Helps brands or retailers understand how important each retailer is to a given customer for a specific category of spend.
Retailer Class of Trade Preference: Tells a brand which type of retailer (grocery store, drug store, etc.) a given consumer is likely to purchase a category of products at (i.e. baby care).
Retailer Preference: Helps retailers understand where else a given customer is spending money on a certain category of product and create tailored messaging for those customers to win those purchases.