RevLifter launches the Intelligent Offer Platform
A shiny new platform creates the biggest announcement we’ve made at RevLifter in a very long time. This is no usual blog.
It gives us the greatest pleasure to announce the launch of RevLifter’s Introducing intelligent offers in eCommerce Platform – powerful self-serve technology giving retailers the insight and control they need for profitable growth.
We implore retailers in all verticals - in fashion, beauty, consumer electronics, telco, and more - to stop guessing and start growing by using offers in a more intelligent way.
By doing so, they can drive their eCommerce goals while solving common eCommerce challenges around reducing abandonment, driving conversions, managing their inventory, and so much more.
But enough with the fanfare. Let’s get into it.
What does the Intelligent Offer Platform do?
RevLifter’s Intelligent Offer Platform gives retailers all the tools they need to launch personalized offers and maximize their potential.
Boston Consulting Group tips personalized offers to unlock an extra $70 billion in retail revenue per year, so there is a lot to be said for the optimization phase.
Let’s show you around.
Create offers and set rules
Offers are created and targeted through a mix of controls.
Rules allow you select precisely which customers see your offers. These link to out-of-the-box customer segments that are pre-loaded into the platform. Standard options include:
- Repeat customers
- New customers
- Customers that last purchased x days/weeks ago
- Customers that last purchased x days/weeks ago with a specific order value
- Customers showing exit intent
- Customers copying product names
- And many more!
Once you’ve started getting results, you can move onto creating custom segments to go more granular with who you’re engaging. Doing so will rapidly expand both your targeting and reporting capabilities as you gain a better understanding of where your revenue is being driven.
The next level up is to use the platform’s AI and machine learning capabilities to target visitors based on their likelihood of completing targeted actions, based on potentially millions of lookalike journeys.
For targeting based on propensity and intent, the main options include:
Item count: Spot which customers are most likely to add extra items to their cart
AOV: Pinpoint the customers who could be encouraged to spend more
Conversion rate: Analyze which customers are likely to convert or leave
From here, the platform uses an algorithm to assign a score to each customer and decide what they need. Perhaps one customer might require an incentive while another will convert without one.
Acting on these signals in real-time is the key to boosting your promotional efficiency.
Create personalized offers
So you have a customer for your campaign. Now it’s time to select an offer to trigger once someone completes a certain action.
Each personalized offer ties back to your goals, for instance:
- Abandonment: Target customers at risk of abandoning by reacting to lengthy dwell times, the copying of product names, and movements toward the close window button.
- Stretching spend: Instantly react to items being added to a cart and encourage the customer to spend more for a bigger saving.
- Driving conversions: If the customer has already hit your AOV, why not issue a light incentive to convert them?
Create personalized experiences
The offers are encased in fully branded experiences. These feature your choice of colors, fonts, and creatives to make them native to your existing eCommerce site.
Overlays are perfect for grabbing a customer’s attention and encouraging an instant response, like staying on-site and converting once they’ve shown an intent to abandon. You can also dial down the level of interruption with a subtle overlay.
If you’re looking to create a place for customers to find coupons, potentially after they abandon your site, a fully branded offers page is a solid option. These pages can be hosted by RevLifter or, if you want to dial up the level of personalization, on your own website.
And for a sophisticated touch, we have an offers wallet. These highly intelligent tools accompany your site visitors throughout their experience. Once expanded, they alert customers to new deals and recommendations based on real-time signals from their journey.
Run experiments and tests
To help retailers build a conversion-driving formula, the platform comes with experimentation tools for running A/B and multivariate tests.
Engage a percentage of site visitors with different offers, copy, and designs to see which drives the best results.
The platform will spot the winners and automatically show more of those elements. We said it was intelligent!
Pull reports and measure incrementality
Finally, once you’ve set up your rules, offers, experiences, and tests, it’s time to see all the extra revenue you’re driving.
Intelligent offers can answer golden questions around how certain audiences and offers contribute to your bottom line. Standard reports in the platform help you to visualize both the performance of your offers and the individuals that use them.
You can even study these results against a control group to see the incremental impact of your offers in real time.
'OK. This sounds clever. How do I get it?’
We understand that scalability is important to retailers. That’s why we’ve made the Intelligent Offer Platform available on three different plans.
Convert is for retailers that want to secure more customers and sales. They’re wary of losing conversions at the bottom of the funnel by not having the tactics to react to micro-moments in the user journey.
Grow is for retailers that don’t want to lose conversions, but also want to find opportunities to sell more items and grow AOV.
Optimize is for retailers that want to convert more customers, increase AOV, and add more sophistication to their offers strategy. They’re running a highly effective, data-driven approach to offers, involving layers of rules and automation.
RevLifter can be installed rapidly through a simple tag-based setup. The platform also has direct integrations with a number of popular eCommerce platforms and tools, including Shopify, WooCommerce, BigCommerce, Adobe Commerce, and OpenCart.
