Rethinking Offer Management: AI Based Offer Curation

Today, offers are mostly targeted at a static customer base. However, priorities of the customers are evolving fast, especially in the context of COVID-19. To acquire customers fast, businesses therefore need to use dynamic targeting to present relevant offers and improve conversion.

A New Look at Designing Offers

  • Major part of most of the business is now happening online, and data is traceable in real-time with the right systems in place.

  • Use user responses to previous offers to identify new target segments

  • Know the probability of customer segments availing offers even before it is presented to them

  • Explore insights-driven customer grouping and targeting to fine-tune segments to yield better conversions and more revenue

  • Have the first level of personalization right at the curation stage to create offers that are more relevant to customers.

  • Facilitate workflows that combine human decision making and artificial intelligence to achieve faster market response

Must-Have Technologies

  • Online channels with the capability to collect user responses on presented offers

  • Data marts having data related to offer management flowing from all relevant sources

  • Online marketing tools for dissemination of offers to selected customer base

  • Core systems managing customer profile e.g., Loyalty, CRM, etc.