There is hardly anybody who doesn’t get attracted to the buzz and noise of promotional offers. As per a study, almost 60 percent of shoppers surveyed would be more likely to purchase if they received a promotional offer. In the same study, 61 percent of shoppers claimed to be more inclined to buy from a personalised offer – one customised to their needs and interests.
At a time when a whopping 97 percent of shoppers end up abandoning their shopping journey, sales promotions play a key role in customer retention and continuity for e-commerce brands. To this end, building an effective sales promotion strategy is imperative for the success of an e-commerce business. Despite efforts, a growing number of brands are either dissatisfied or are struggling with their results. The reason is rooted in their ‘one size fits all’ approach by offering too many promotional offers to customers who don’t need them or too few to those who need them the most. Current personalised promotions solutions use rule-based, demographic, or behavioral segments, leading to redundant offers and subsequently, lost profits. But luckily for brand managers, now there’s a smarter way out – Intent-Based Promotions by Namogoo.
The Namogoo edge
Namogoo introduced their Intent-Based Promotions solution to empower e-commerce brands with automated and individualised incentives. This is yet another feather in the brand’s mission towards delivering unstoppable customer journeys by giving each shopper the minimum push needed to purchase.
Founded in 2014 by Chemi Katz and Ohad Greenshpan, the Israel-based company helps brands get the solutions they need to increase conversions, order value and at the same time, maintain their brand perception, increase margins, and consider pricing and inventory needs. The duo noticed that even though brands were investing time and efforts to deliver a seamless customer experience, customers would often end up abandoning the shopping journey. They realised that brands lacked the tools needed to put themselves in their customers’ shoes and see the experience through their eyes.
Namogoo is the world’s first Digital Journey Continuity platform, helping over 1,000 brands shape their customer journeys to fit each and every shopper’s needs. Namogoo’s platform autonomously adapts to each customer visit in real-time, lifting conversion rates and revenue, while maintaining e-commerce retailers’ margins and bolstering brand equity. Namogoo is available on all major e-commerce platforms, including Shopify, BigCommerce, Salesforce Commerce Cloud and Magneto – serving over a thousand global brands of all sizes.
The company’s product suite includes “Customer Journey Operating System,” which provides the underlying infrastructure to power all digital customer journeys in real-time; “Intent-Based Promotions,” which predicts and individualises the most effective minimum promotion for each visit; “Customer Hijacking Prevention,” which identifies and manages journey interruptions injected into consumer web sessions in real-time; and “Personalized Email and SMS,” which engages customers with personalised campaigns across social, email, and SMS to win more sales.
Each of these services work towards one goal – of telling brands that they can have it all, soaring business goals, and happy customers.
Scaling with Intent-Based Promotions
A first-of-its-kind solution, Namogoo’s Intent-Based Promotions leverages Artificial Intelligence and Machine Learning to predict shoppers’ intent by learning from each visitors’ unique signals and digital behaviour in real-time. Based on their level of intent, the platform delivers the right type of promotion at the exact moment of the customer journey.
Understanding intent is critical as no shopper is the same. Each come with varying degrees of purchase intention and express some form of intent signals that showcase where they stand on the buying journey. While some are still in the research stage, others come with high purchase intent right from the start. It is important to monitor, capture, and leverage these signals to create hyper-individualised experiences that not only improve conversion rates and grow revenue, but also increase margins and maintain brand equity and perception. By giving visitors effective promotions based on their intent, brands can reduce their promotion costs by 25 percent while achieving a 15 percentage increase in revenue. But Namogoo doesn’t always offer promotional offers. In case the intent is very high, the team doesn’t give discounts and promotions as it isn’t required, saving on margins.
Namogoo’s Intent-Based Promotions analyses billions of sessions of similar users to predict their in-session intent. They also focus on in-session behaviorial data along with non-PII data (Non-personally identifiable information). These non-PII data points such as those with low CPU, weak network connections, ad blockers, etc are accessed on the spot, in real-time and they are completely anonymised, session-based information that can only be accessed within the session.
Powering strong brands
Namogoo powers over 1,000 clients across the world with their plethora of solutions. Right from Marks and Spencers, to s. Oliver, to Samsonite and many more, the company ensures that each of their customers save on promotion costs while preventing customer journey abandonment. In India, Namogoo has formed a partnership with BoAt Lifestyle, a leading consumer electronics brand, to ensure their customer journeys keep flowing to their destinations with Intent-Based Promotions.
Namogoo recently partnered with Onnivation, a global SaaS consulting company that helps companies strengthen their tech stack with ‘plug and play’ solutions. The Onnivation team partners with their clients to continuously evolve their tech, and enable an adaptive mindset to meet their business goals. Currently, they have 15+ companies in their portfolio in the areas of cloud optimisation, cybersecurity, data science, retail tech, martech, user acquisition, quality assurance (QA), automation testing, and DevOps.
