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By analaysing individual basket data, comes the ability to segment customers – connecting basket data to preferences and behaviours on an individual level.
Once customer segments are developed, retailers can target them with a personalised campaign that either rewards, thanks, or encourages them to carry out a certain behaviour.
Well timed personalised notifications about deals and rewards can create a seamless customer experience.Push notifications are the most effective marketing channels available to brands and retailers today.
The average time until a consumer engages with a marketing campaign is just 15 minutes for push notifications compared to six and a half hours for email.
The average open rate for push notifications is a massive 90% versus just 23% for email.
Think of the potential – if a consumer is out shopping and sharing their location through their mobile, a brand can alert a customer through a push notification of relevant deals or rewards they can redeem when they are close to the store.
Michael Rolph, co-founder of Yoyo, said: “This is the future of payment for retailers – a platform that ultimately seeks to drive increased revenue – via a valuable customer offering. After all, that is the kind of win-win that retailers really want.”