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
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.