Leading Dynamic Offer Platform Expands Its Offer Library With 3-Step Offer
SAN FRANCISCO – February 1, 2022 – Formation, the Dynamic Offer Platform (DYNO) company, continues to expand its offer library with the announcement and general availability of additional gamified three-step offers.
As marketers look to deepen the relationship between brand and customer in the digital world, typical offerings like mass discounts are no longer effective. In the digital marketplace the needs of customers and brands have changed. Customers need to be continually engaged in new and innovative ways with a level of personalization that is not only engaging but which also builds trust with the brand.
The Next Phase of Dynamic Offers: Three-Step Offer
Formation’s 3-Step Offer provides brands with a new and innovative way to engage customers. Traditionally, retailers have relied on mass offers to reduce barriers for customers to complete valuable behaviors such as purchases, but mass offers have become a race to the bottom for many brands:
This new offer capability further extends the Formation Platform’s unique and patented capabilities. “Now marketers can easily create highly engaging gamified experiences using any event data they provide to the Formation platform, not just transactions,” said Christian Selchau-Hansen. “Marketers can create experiences and offers using any event - out of hundreds of potential actions - and it all can be done from within an easy-to-use UI. This enables personal gamified journeys to be easily and quickly created leveraging the Formation platform’s A.I. and automation.”
The addition of the 3-Step Offer to Formation’s offer catalog enables marketers to create personal gamified offers out of any three actions, selecting from both transactional and non-transactional actions. Marketers are now able to engage customers not only across traditional transactional use cases but are also now able to target non-transactional behaviors such as: registering for a loyalty program, downloading a mobile app, completing account profiles, referring a friend, and/or writing a product review.
The launch of this offer type provides marketers with a range of benefits:
Why Dynamic Offers Are the Future
Formation’s Dynamic Offer Platform automates the execution, fulfillment, and measurement of personalized offers at scale. Marketers build campaigns focused on a specific business objective from a wide range of single-action or multi-action offer types. The platform then automatically generates a unique offer for each customer within the guardrails determined by the marketer and continuously optimizes each campaign automatically, enabling the marketer to focus on gaining new consumer insights and designing campaigns to new business objectives. Formation’s platform integrates with an existing marketing stack to ingest and process data from a customer data platform, deploys campaigns through existing distribution channels, and fulfills rewards through loyalty systems.
Key benefits include:
Formation helps brands build deeper relationships with every customer, beyond the transaction. Our patented Dynamic Offer Platform leverages brands’ first-party data to automatically generate each customer’s offer with the best action and reward, then manages the deployment, measurement and fulfillment of each offer across the marketing stack. Brands see 3X revenue lift, 2X more engagement and 10X faster time to market with their offers. Formation powers offer optimization for some of the world’s largest brands, such as United Airlines, Giant Eagle and Smiles. For more information, visit formation.ai. Formation also supports a community of digital and marketing leaders called Loyalty Innovators. For more information, visit loyaltyinnovators.com.