RevTrax, a firm that targets emails at open based on price sensitivity, is rolling out a service utilizing AI.
The service utilizes machine-learning algorithms to automatically determine and deliver — at the point of open — the lowest possible offer amount needed for each consumer’s conversion based on such non-PII data as device and location.
“We don’t need to know everything,” says Gregory Hansen, chief technology officer at RevTrax. “It’s based on models.”
In one hypothetical use case, “a client will send out an offer for diapers, and depending on what signals we get, may get an offer that may range from 50 cents to $2.50,” Hansen adds. “It’s the same amount of work, but you’re getting more engaged consumers.”
Prior to this, the dynamic emails were more static. “It was more of a business rules situation,” Hansen says. “We’ve always had the ability to render dynamic content, but it would need to be more determinant” (as opposed to the probabilistic models now being used).
The company “doesn’t get involved
with delivery, but it has formal integrations with Salesforce Marketing Cloud and other platforms.
The tool can be easily integrated with ESPs, and can be deployed for both triggered and campaign emails, the company says.
The big CPGs typically send tens of millions of emails per week. But this tool also works for web and social, and clients use it across those channels, Hansen says.
The new AII service also reports the value saving — or lack of value saving — per individual offer, helping the brand to determine ROI.
In terms of metrics, the open rate seems less important than the conversion rate from open to redemption.
The company, which serves such CPGs as Clorox, Colgate, Dunkin', and L’Oréal, has been around for 12 years, and has 35 employees. Hansen bootstrapped it with two partners.
What’s the new service called? “Good question,” Hansen laughs.
It’s RevTrax AI Powered Email.