This demand generation Tactic notifies your customers when the price of some products they are interested in has dropped.
Notes:
- The Product Catalog Updates - Price drop trigger used in this Tactic allows you to fine-tune the target audience by setting the relevancy (e.g. Viewed the product X or less days ago at least Y times) and exclude those who have already purchased a specific product. Emarsys automatically excludes items that are not available anymore. For more information, see Product Catalog Updates.
- The Price drop Tactic uses only those products that are marked as available in your product catalog.
- Currently, we do not recommend using the Price drop Tactic (or other Tactics that work based on the
viewevent) with the Parent/Child catalog feature.
It supports the Revenue objective by contributing to the following strategies:
- Drive First Purchase
- Reduce Customer Churn
- Drive Purchase Frequency
- Drive Web Traffic
- Drive Second Purchase
- Increase Active Customer Revenue
Channels
- SMS
Basic workflow
- Contacts view a product at least once within 3 days.
- The price of the product the contacts are interested in has dropped by at least 10% in the previous day (these settings are configured in the Product Catalog Updates - Price drop trigger).
- Relevant contacts are matched.
- An SMS (or email if used) is sent containing product details to your contacts.
Interactions programs
SMS-only variant
The SMS-only variant of the Price drop Tactic looks like the following:
The program checks the product catalog if the price of any products dropped by at least 10% in the previous day. Then, it sends an SMS about the product details to contacts who meet the following criteria:
- Opted in for SMS messages.
- Viewed the product in the last 3 days.
- Did not purchase the product in the last 10 days.
Email + SMS variant
The email + SMS variant of the Price drop Tactic looks like the following:
The program checks the product catalog if the price of any products dropped at least 10% in the previous day. Then, it will send an email and SMS about the product details to contacts who meet the following criteria:
- Opted in for email and SMS messages.
- Viewed the product in the last 3 days.
- Did not purchase the product in the last 10 days.
- It sends an SMS message only to high-value customers, whose last purchase reached a certain amount.
Creating an email-only Price drop Tactic in Interactions
- Please contact your Client Success Manager or Emarsys Support.
- Emarsys will create your Price drop Tactic in Interactions.
- Check and adjust (if needed) the settings of the Product Catalog Updates - Price drop trigger.
- Follow through the process of Inserting a Repeatable Block if you are using one.
- Once your campaign is ready, replace the original email campaign with your updated Price drop campaign in the Interactions program.
5. Activate your Price drop Interactions program.
You can check the results on the Strategic Dashboard.