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After being shortlisted for such an innovative approach in the marketing space, Jim Harriman, the General Manager North America, provided exciting insights about the company and its offering.
Please give us a quick overview of the company?
RevLifter personalizes deals across any marketing channel through AI by understanding micro-moment signals from customers’ on-site behavior and enables companies to deliver the right offer to the right customer. The contents and incentives displayed to a consumer are designed to deliver incrementality and reduce the propensity that customers might leave their basket in search of deals from competing brands. Given its versatility, the platform is uniquely used by each retailer for their specific goals; whether that’s to acquire new customers, increase average order value (AOV) and conversion rates, grow market share or all of the above. RevLifter is available worldwide and is cost-effective due to its result-based payment model.
Can you give us more insights into the general trends and challenges pertaining to deals personalization? How has RevLifter aligned itself accordingly?
RevLifter is uniquely positioned to accommodate the needs of both consumers and retailers. We work closely with our clients to ensure that the most valuable content is presented at the right time based on their specific goals and the needs of the customers.
In today’s retail space, mass discounting and continuously squeezing margins are detrimental to retailers. RevLifter takes a machine-learning-based approach to provide organizations with the mechanism to present discreet discounts or rewards on one-to-one level to enable them to protect margins by displaying automated deals based on basket margin and stock levels.
RevLifter personalizes deals across any marketing channel using AI and understands real-time signals or micro-moment signals from people’s on-site behaviour to deliver the right offer to the right customer at the right time
Can you give us more insights into the unique proposition of the company’s business delivery model?
Currently, we have three core offerings to clients through the deployment of our proprietary AI-based personalization technology: RevPage, RevConvert, and RevRewards. RevPage enables retailers to serve their own offer page which displays personalized offers and incentives related to the customers’ shopping cart instead of generic discounts. Our goal is to drive incrementality. Therefore, the deal offered to the consumer is geared toward driving more revenue to the brand and value to the end-user.
Moving ahead, RevConvert provides customized content information and personalized incentives as per customers’ shopping requirements. For example, if someone adds a pair of sneakers to the shopping cart, we may help them to choose socks by providing a recommendation based on shoe size, color, and style. By doing so, we reduce customer drop off. Finally, there is RevRewards, an e-gift card delivery system that allows retailers to reward loyal customers based on their behavior.
Interestingly, all of these technologies can work in harmony or independent of one another and are powered by our AI platform; which is informed by first and third party integrations and data sets. This allows us to deliver relevancy, brand loyalty, and consistency to our clients and their customers.
Some travel companies need to geo-target and drive consumers to rooms in hotels that have a low occupancy rate or to offer special incentives for their loyalty members. Services and telecommunications firms are interested in bundling products and services together in a way that is beneficial and relevant to their customers. These examples could go on and on across almost any vertical. Over time, our offerings have become more effective for our clients through machine learning.
Can you please cite one or two case studies on how you have enabled clients to overcome their hurdles and attain desired outcomes with your solutions?
A large global consumer electronics retailer was facing difficulty in enhancing AOV, especially with accessories and replacement parts such as cartridges for printers. Prior to the deployment of our technology, the AOV was £350 we helped in enhancing the AOV to £750 in the very first week. Over time, there was a 7.5 times increase in conversion rate along with a consistent growth rate.
Please tell us something about the track record of the company and the plans of expansion in terms of types of client it serves and geographical presence.
With its unique approach, RevLifter is growing at a formidable pace and is personalizing between three to five million baskets worldwide. Today we support our clients across their customer journey on-site. In the near future, we will be looking at rolling out an omnichannel solution ranging from email to display to even driving consumers in-store. Along with this, our company will focus on diversifying its tools, services, and SaaS options for the medium and small businesses. I am really excited and optimistic about RevLifter over the next 18-24 months.
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