Eversight Expands Offer Innovation Suite for CPGs
Eversight has extended its "Offer Innovation Suite" to enable consumer packaged goods companies such as Coca-Cola, MolsonCoors, Mars, Henkel, and Johnson & Johnson to sense market conditions, develop optimized sets of promotions, and track performance and compliance.
“CPGs have been handcuffed by promotion tools, which draw on historical data to try to tease out what works. They are essentially banking on learnings from the past rather than what is happening right now,” said Jamie Rapperport, co-founder and chief executive officer of Eversight. “We can help CPGs move into the future by coupling sophisticated AI with experimentation and real-time performance tracking to understand precisely what works and what doesn’t, down to the mechanics of each promotion. It’s an entirely new level of insight that will make promotions far more effective.”
With its new capabilities, the Eversight suite addresses gaps in the CPG market, which is estimated to reach $760 billion in the U.S. by 2020. The enhanced tools elevate the promotion experience for shoppers, CPGs, and retail partners. New features include:
- Market sensing analyzes promotion performance and identifies which offers should be optimized, enabled by third-party data integration and AI.
- A smart offer bank develops outperforming promotions optimized for customer segments, specific retailers or markets.
- Performance tracking evaluates promotional execution and compliance with guidelines.
These capabilities build upon the suite’s existing ability to run experiments with real shoppers through the company's testing network of retailer load-to-card systems, mobile apps, online coupons and social platforms. Its AI functionality identifies the highest-performing offers so they can be activated at scale.
Eversight has conducted more than 15,000 campaigns with the aforementioned CPGs. Results yielded an average 93% success rate in-store, a 10-25% improvement in sales volume at the same investment, and 2-5% better margins at the same volume.