RevTrax,
a leading offer management platform for CPG and retail brands today
announced the launch of a machine learning and artificial intelligence
capability to its platform to effectively target and deliver the right
offers to consumers quicker and more efficiently than ever. The software
will allow RevTrax to observe behavior at scale and categorize the
behaviors and patterns faster than ever before. Using structures such as
Bayesian Networks, probability theory, and other techniques, will allow
the platform to replay events, determine causality, and accurately
measure results based on a certain set of criteria. With these
techniques, RevTrax can rerun actual traffic through modeled scenarios
to find optimal outcomes and adjust the flow of traffic for segments of
users in real-time to maximize ROI for brands.
This update will allow the RevTrax offer management platform to perform
“what if” scenarios, which are crucial for marketers to drive valuable
results, by leveraging over 11-years of anonymized consumer
offer-behavior. This analysis will take past activity and results and
replay them against a different set of offer-values applied to the same
model to predict what the consumer will be offered. This will
effectively reveal additional insights such as the use of previously
unused offer-values to continue moving product but at a lower cost.
“RevTrax’s AI technology enables marketers to run smarter offers at a
scale never before possible,” said Greg Hanson, Co-Founder and Chief
Technology Officer of RevTrax. “Thanks to the hard work of our data
science and tech teams, we are now able to help marketers deliver a
targeted offer to desired consumers at exactly the right time. With our
AI-powered tool, today’s brands can easily cut costs on their offer
strategy with minimal effort. Our technology will help our clients to
stop bleeding via over-discounting or creating generic offers.”
RevTrax has developed an AI-based methodology that recommends and
changes offer-values for CPG and retail brands across consumer segments
with various engagement levels. The AI offer recommendations are based
on over a decade of experience studying consumer response to offers and
state-of-the-art machine learning algorithms.
“Imagine being able to deliver an offer that is proven to persuade
consumers to purchase,” said Jonathan Treiber, Co-Founder and Chief
Executive Officer of RevTrax. “Or imagine being able to deliver
consistently lower offers to consumers you know don’t need huge
discounts. Now imagine all those decisions and segments being analyzed
and delivered in real-time. It’s a game changer.”
Recently, RevTrax tested its new AI and machine learning capability on a
leading CPG brand that spent $14.5 Million to drive 8.6 Million
purchases. Using RevTrax’s AI optimization, they could have reduced the
spend to $9.8 Million to achieve the same result, ultimately saving $4.7
Million. In the coming months, RevTrax aims to replicate the result for
other top brands as its updated technology is rolled out to its existing
CPG portfolio and new clients.
To learn more, please visit: https://www.revtrax.com/#aidemo.
About RevTrax:
RevTrax delivers smarter offers. The RevTrax Offer Management Platform
empowers brands to deploy offers across channels, track the performance,
and connect insights to decisions that save money and drive more value
from their existing marketing efforts. With a robust portfolio of 6
patents relating to offer security, the RevTrax Offer Management
Platform brings control back into the hands of the marketer. Founded in
2008, RevTrax has been rated as one of Crain’s Top 100 Best places to
work in New York City.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190514005256/en/