Nogin’s Post

The stakes are high, and the margins are tight. Check out our conversation with the super tech-savvy Anh Vu-Lieberman of Nogin for real-life examples of how to improve #ecommerce #profitability from brands like Justice, ModCloth, and Hurley.

Thanks, Anh Vu-Lieberman, for sharing your insights on promotional strategy. My favorite takeaways from the conversation: *1. Minimize sitewide promotions* Imagine you have a full-price customer, why are you showing them sale messaging? I used to be a full price shopper at Stuart Weitzman, but then they started inviting me to VIP secret sales, converting me from a full price to a discount shopper. *2. Examine VCM and CAC Payback to assess the ROI of your promo strategy* You should be looking at your Variable Contribution Margin (VCM). If you’re positive by $6,000, then you have $6,000 more to spend on marketing. Then, you should look at your Customer Acquisition Cost (CAC) Payback to see how many orders you need before you make your money back. *3. Combine AI with dynamic pricing* AI is everywhere right now: chatbots, merchandising, search, forecasting and demand planning… You should combine AI with dynamic pricing. It will tell you when to run a promotion and what to run the promotion on to really increase your profitability. Special thanks to Session AI, Kateryna Romanova, Jason Seeba for making this happen, and to CommerceNext for introducing us to Anh!

Infuse precision into your decision-making with PROS AI. We uncover insights from your business data, presenting a clear roadmap for better pricing, marketing strategies, and beyond. Let's make every decision count. #AIDrivenDecisions http://ms.spr.ly/60449VITn

Retail promotions are key to driving demand, but many miss the mark. 𝐏𝐫𝐨𝐦𝐨𝐀𝐈 ensures that sacrificed margin will deliver the desired uplift in sales and revenue. 📈 📍 Maximize your promotional ROI with precise timing, product selection, and discount levels. 📍 End the cycle of ineffective promotions. PromoAI ensures every aspect is optimized for maximum impact. 📍 Streamline your processes and gain real-time visibility into your promotional impact. 📍 Protect your brand's integrity while delighting customers with value-driven promotions. Learn more: https://bit.ly/3XvRI7t #retail #sales #AI #ToolsGroup #promotions

Embrace the Future of CPG eCommerce with Chasers-AI The future of CPG eCommerce is here! Chasers-AI brings AI-assisted automation and e-retailers sellout measurement to your fingertips, powering your CPG eCommerce operations for next-level efficiency across your multiple e-retailers strategies. Embrace the future with us! #eCommerce #ai #marketingautomation #media #performancemarketing

Consumer behaviors can be complex and inconsistent. While shoppers often look for discounts on certain items, they are willing to pay more for products they consider valuable. Marketers must adapt to keep up with these ever-changing consumer preferences. In our latest blog, see how leveraging AI can enhance efficiency, automate processes, and gain deep analytical insights to develop messaging that truly resonates with customers.

Say goodbye to guesswork. PROS AI's dynamic pricing algorithms and real-time data analysis ensure your strategies are always on point. Precision, efficiency, and profit - all in one place. Discover the difference with PROS AI. http://ms.spr.ly/60469DuN8 #pros #profitablegrowth #AI #Pricing #Winning

As consumer behaviors become increasingly contradictory—seeking affordability while splurging on certain "worthy" goods—retailers must adapt to meet changing expectations. AI has emerged as the essential tool for retailers to navigate these shifts, allowing them to balance customer demands with strategic business goals. Here's how AI can revolutionize retail marketing: 🔄 Streamlined Tasks: AI automation reduces repetitive tasks, enabling marketers to focus on strategy and customer relationships. ⚡️ Quicker Pace: AI allows for fast turnarounds, making last-minute creative changes a breeze. 📊 Deeper Insights: AI's data analysis capabilities offer valuable insights into customer preferences, enabling personalized messaging that resonates. 💰 Boosted Revenue: McKinsey predicts over $4 trillion in annual productivity gains from AI, with retail and CPG reaping half a trillion. Explore how AI can enhance your marketing workflow and customer experience, from tailored content to individualized send times. Dive into our latest guide to see how AI can transform your retail campaigns. #AI #RetailMarketing #CustomerEngagement #Personalization

🤝 As part of our quick founder questions series - or #QFQ - we spoke to James Melhuish, CEO of Plinc, about personalised customer #marketing, generative #AI and the vital role #people continue to play. "Plinc is a #customerdata #technology that helps brands leverage their customer #data to gain a competitive advantage." "Understanding and reacting to customers’ interactions with the #brand, and anticipating their behaviours, will have a big say in their #success." https://lnkd.in/eG-iYmup