PALO ALTO, Calif., July 19, 2018 (GLOBE NEWSWIRE) -- Eversight, the leader in Offer Innovation software, today announced a number of innovative features to expand its Offer Innovation Suite. By extending its popular platform, Eversight now enables consumer packaged goods (CPG) companies such as Coca-Cola, Molson Coors, Mars, Henkel, Johnson & Johnson, and more to sense market conditions, develop optimized sets of promotions, and track promotion performance and compliance against plans.
“CPGs have been handcuffed by their 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 CEO 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.”
Eversight has been recognized for helping CPGs break out of copy-paste promotion planning with novel tools to develop precise promotion guidance tailored for shoppers and retailers. With its extensive new capabilities, the Eversight Offer Innovation Suite addresses gaps in the massive consumer packaged goods market, estimated to reach $760 billion in the U.S. alone by 2020. Eversight comprehensively and effectively elevates the promotion experience for shoppers, CPGs, and their retail partners. New features include:
- Market sensing: analyzes promotion performance and identifies which offers need to be optimized, enabled by third-party data integration and AI
- 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 Offer Innovation Suite’s existing ability to rapidly run experiments with real shoppers through the Eversight Testing Network of retailer load-to-card systems, mobile apps, online coupons, social platforms, and more. Its unique AI functionality automatically identifies the highest-performing offers so they can be confidently activated at scale.
The Eversight Offer Innovation Suite was designed to disrupt and improve upon the promotional planning process of the CPG industry by making it possible to quickly and cost-effectively uncover what offer mechanics drive shopper behavior. By testing different mechanics, such as the offer structure, artwork, and claims language in real time, brands can uncover counterintuitive shopper behavior and offers that perform dramatically better than the status quo. This remedies a longstanding problem associated with most promotion tools – that they inform only on historical behavior and involve a prolonged feedback loop.
Eversight has already conducted more than 15,000 campaigns with the world’s most renowned consumer goods companies, including Coca-Cola, Molson Coors, Mars, Henkel, Johnson & Johnson, and more. Results yielded averages of a 93% success rate in-store, 10-25% improvement in sales volume at the same investment, and 2-5% better margins at the same volume.
To learn more about how Eversight’s Offer Innovation Suite can help your business, please visit https://eversightlabs.com/cpg/.
About Eversight
Eversight leverages AI and experimentation to create and deliver smart, dynamic pricing and targeted promotions. The Eversight platform has tested and optimized offers across more than 1,500 product groups on 50 retailers and digital platforms. Global brands and retailers rely on the Eversight platform to optimize pricing and respond to market conditions, deliver higher ROI on promotional spend, and enable data-driven collaboration on investments. Eversight is generating 10-25% improvement in sales volume at leading customers such as Coca-Cola, Mars, and Molson Coors. Founded in 2013, Eversight is headquartered in Palo Alto, California.
eversightlabs.com.
FOR EDITORIAL:
Amber Moore
GMK Communications for Eversight
amber@gmkcommunications.com
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/3da7b7af-cad4-4cc2-9d8c-2ad4f91b9ba3