Intent-Based Promotions autonomously optimizes promotion spend by synchronizing eCommerce brands' business goals with real-time shopper intent, preventing customer journey abandonment and increasing revenue
Namogoo, the world's first Digital Journey Continuity platform, today announced the launch of its Intent-Based Promotions solution, empowering retailers of all sizes with automated incentives individualized for every site visit. The first-of-its-kind solution utilizes Machine Learning to predict shoppers' intent by learning from each visitors' unique signals and digital behavior in real-time, delivering the optimum promotion needed on each and every session to ensure that online shoppers complete their journey — even first-time shoppers. By pinpointing the most effective promotion for each visitor session, brands can expect at least a 25% reduction in promotion costs while achieving a 15% increase in revenue.
A large and growing number of eCommerce brands are dissatisfied with their sales promotions and their results. Current personalized promotions solutions use rule-based, demographic, or behavioral segments, leading to lost profits due to redundant offers. This "one size fits most" approach often fails to provide the exact right discount or other promotions to the individual shopper, leading them to cut their customer journey short. Alternatively, they provide discounts larger than necessary, shrinking companies' profit margins.
Intent-Based Promotions holistically considers each visitor's intent in real-time, together with company goals such as desired margins and inventory levels, ensuring that brands offer the minimum promotion needed to complete the customer's journey.
"With Namogoo's unique proprietary technology retailers can now shift their promotion budget away from visitors who would have purchased anyway or have no shopping intent, and towards visitors who will convert when presented with the right promotion at the ideal moment in the customer journey, protecting both their margins and brand perception," said Ohad Greenshpan, Namogoo co-founder and CTO . "Our Digital Continuity Platform is elastic and can support businesses of any size, from Fortune 500 companies to mid-market."
Accompanied by an intuitive, easy-to-use design studio and analytics dashboard, retail brands can seamlessly implement Intent-Based Promotions into their website or mobile app with the solutions' native mobile SDK, or with one of many available eCommerce integrations.
"Retailers know that every phase of every site visit is an opportunity that can either be won or lost, and in this incredibly competitive retail environment, losing customers is not an option," said Chemi Katz, CEO and co-founder of Namogoo. "The addition of Intent-Based Promotions to our Digital Journey Continuity platform ensures that every site visit stands the best chance of converting. In short, we're both clearing the path, and driving customers forward, and when customer journeys flow, everyone reaches their goals."
Namogoo pioneered the Customer Journey Hijacking Prevention market, preventing injected competitor ads from interrupting the intended customer experience, increasing conversion rates for retailers between 1.5-5%. Eliminating these disruptions from the customer journey directly recovered over $1.6B in stolen revenue in 2020 alone. The addition of Intent-Based Promotions will enable eCommerce brands — from retail giants to SMEs — to turbocharge their promotion strategy, allowing each customer journey to reach its full potential.