USE PERSONALIZED COUPONS TO INCREASE CUSTOMER VALUE
Price Optimization: Promotion Pricing
You want to use coupons strategically and minimize scatter losses through global discounts. In other words: What good is a coupon for meat to a vegan? Instead, delight your customers with personalized services by guaranteeing them individual discounts on products that really interest them. To reward your regular customers for their loyalty. To provide your customers with offers for product groups that fit their purchase behavior but that they have not yet purchased form you. The goal is to increase customer value, purchase frequency, the rate of redemption and customer retention.
The prudsys RDE determines global price-sales functions, analyzes individual customer preferences and predicts customer behavior in real time. These behavior predictions are taken from current customer behavior and historical transaction data. Intelligent algorithms generate automated product recommendations with maximum personal relevance. The AI-based solution combines these recommendations with personalized discounts. Alternatively, fixed discount amounts can be specified. Personalized coupons are generated at all sales channels, e.g. in the online shop, the newsletter, the mobile shopping app and on the receipt in the store.
Generating personalized coupons increases the relevance of your purchase incentives for each individual customer, which leads to a significantly higher redemption rate compared to global campaign offers. Intelligent couponing is a tool for sustainable customer retention. It increases customer value and, in turn, the purchase frequency of your customers. In addition, you achieve more turnover through cross-selling and upselling.