Hang reposted this
Segmentation in marketing campaigns is broken. In most cases, brands start with a segment of customers they deem to be similar by some set of characteristics, which they then use to inform some sort of promotion (i.e. send out a 50% off coffee promo after 2pm to customers who typically only order in the mornings in an effort to drive a new behavior). In reality, every customer is different, and it’s impossible to truly personalize promotions and messaging based on a few pieces of information you know about them. At Hang, we’ve introduced a new Smart Segmentation promo tool in our CRM platform that uses AI to optimize the promotion distribution to customers deemed most likely to redeem it. By optimizing who gets which rewards, promotions can not just drive top-line revenue, but also reduce costs. Rather than starting with the segment and choosing a promotion, we can start with promotions and optimize to the right segments (or more specifically, individuals). Let’s say your restaurant has too much extra guacamole and you need to push it out within the next day. Rather than blast a “free guac today” promotion to everyone, the system will automatically push out the promotion to the subset of customers most likely to redeem it, all directly through our POS integrations. The principle can be applied at a much larger scale. Over time, the platform learns which promotions are most effective, automatically sends personalized promotions to the right customers, and can even suggest promotions to run. All the marketer needs to do is set the target parameters (i.e. number of redemptions, reward budget, time period), and Hang does the heavy lifting of optimizing the objective (i.e. incremental revenue, minimized cost, or an ROI target). If you’re interested in learning more about our Programmatic Promos and Smart Segmentation tools, DM me – we’d love to chat!