Point Inside has just launched a new offering nSide, which takes targeting of incentive offers to a new level which the company itself refers to as 'Hyper-Targeting". This new offering hits home for us because it brings together new techology and good fundamental business strategy in a new level of targeted incentive programs.
Point Inside's product design highlights 3 keys to 'hyper-targeting:
1. An understanding of the true cost structure of incentive programs and lost investment associated with poorly targeted programs. The key point here is that incentive program ROI needs to be examined in aggregate (across all programs) and at the individual program level. Too often, failed programs are ignored in the ROI calculation -- created a skewed picture of overall ROI and the negative impact of weakly conceived incentives.
2. Incorporation of shopper intent and interest data to drive a higher level of targeting. Most programs are loosely designed assuming 'everyone will be interested in everything' but the truth is many offers don't hit the mark with a majority of targeted prospects.
3. Timing of the delivery offers using locations based techology is a key aspect of hyper-targeting -- by maximizing the likelihood of the offer being timely and relevant.
In the end, Point Inside's new offering speaks as much to companies respecting their investment of time and resources into desiging incentives as it does to increasing the overall effectiveness of incentive programs.