Architect Use Case: Price Drop

The Price Drop use case is proven to yield an average sales uplift of 3%. In order to boost the conversion rate, Price Drop use case has a great potential to unlock. 

For instance, you can explore email and notifications as a way to convert users, who visited a product, into customers when the price of the product dropped after a while. This type of message can be both informative and promotional; while letting users know about the sale, you can also remind them the products that they visited, but not purchased.

You can boost your conversion rate and encourage your customers to purchase the product that is on sale with personalized communications over additional channels depending on their responses.

Goals

By notifying your users about a sale on a product that they are interested in with Price Drop journeys, you can improve your customer acquisition, retention, and transactions. Each targeted and converted user will help you:

• Boost Conversion
• Increase Revenue
• Increase Transactions
• Activate Inactive Users
• Drive Purchase Frequency

Requirements

Product catalog data and user data collection are required for Price Drop use-case.

1. Product Catalog Data Collection

On Price Drop utilizes the same data collection methods as Smart Recommender product. Product catalog database integration is applied via 3 different methods and you can use only one of them or combine in line with your platforms and use-cases.

• Product Catalog Integration through Clickstream Data: Your product catalog information is being processed whenever any of your customers visit your website and product detail pages. This integration type requires system rules to be integrated and all the product information then will be collected and processed by Insider API. 
• Product Catalog Integration through XML: With this integration type, you can provide your own XML product catalog as a source for your product feed. You can do the Integration through Insider's InOne panel and send all the product attributes that have been provided on the XML file to the product catalog database through InOne.
• Product Catalog Integration through API: With this method, you can send your product catalog information through insertions and updates through Catalog API.

2. User Data Collection

• You should complete the Insider Tag integration.
• You should complete the SDK integration for mobile app data reading.
• You should define the System rules.
• Events should be sent from the website, mobile app, and Upsert User Data API (if you are using one of them).
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Creating a Price Drop Journey

You can create a Price Drop journey to notify your users when the price of the product, which they are interested in, drops.

Consumer Electronics, Cosmetics, Fashion Retailer, Home & Furniture, Jewellery & Accessories, Home Appliances, Supermarket Chains, Classifieds

Suppose that a user, named Annie, visits a sofa on your platform, but does not buy it. Then, you have a sale on your platform due to mother’s day, and the price of the sofa drops by 20%. You want to inform Annie that the sofa that she was interested in is now on sale. As soon as the price drops, you check if she is reachable on the Web Push channel.

• If she is, you send a Web Push Notification to direct her to the sofa that she has visited before.
• If she is not, you send an Email to direct her to the sofa that she has visited before.

1. Select a starter

Price Drop is a real-time scenario, which means it requires immediate interaction with the user.

On Price Drop starter takes users on the journey immediately when the price of a specific product, which the user has visited but has not made a purchase in a specified period of time, drops. This starter is triggered by the decrease of the price drop on all platforms including the website, mobile app, and offline environment, then it segments the users who visited that product but did not purchase it in the past.

You can select the number of times that user should have visited the product in the desired time range, and the percentage of price drop as the main starter condition.

You can use Product Filters in order to exclude some product categories or some particular products based on their price drop percentage, or original price.

2. Add flow logic

Before sending a price drop message, you can check if users are reachable on that channel. If not, you can try another channel on another path. You can also use Next Best Channel to increase the possibility of engagement.

Then, you can use any channel you would like to add to your Journey.

3. Creating content

You can add different messages to the journey flow, including App or Web Push Notification, Email, SMS, WhatsApp, and Call an API channels. You can customize the message content with the data of the product that the user has visited and now is on sale.

After deciding how you want to continue with the communication for the price drop, you can design your content.

Email

You can utilize and customize ready-to-use price drop email templates placed in Select Templates.

You can use the details of the product that let users into this journey. 

Web Push

You can select the product attributes such as name, URL, image, etc. for the content areas. You can also direct users to the product’s page via links and buttons.  Below you can see an example flow:

Advanced Level Price Drop Journey

You can move your journey to an advanced level by checking user behavior and interactions deeply.

For example, in the starter, you can check if the user’s discount affinity is high, so you might have a better-targeted starter condition.

After sending a price drop message, you can control if the users complete your desired goal after a while. You can add a Wait element to give time to users. Then, you can add the Check Conditions element to check if the users perform the specified action. Thus, you can send more relevant, contextual messages by branching the journey flow to the different paths.

For example, you can check if a user makes a purchase after the message you send. If not, you can send another reminder for the price drop. 

You can either select the Purchase box or find the same event in the Events box.

You set the purchase segment as negative (the user didn't make a purchase) based on how long you wait in your journey.

After a while, the price of the product might increase, or the high discount amounts can change through the peak season. After waiting for some time, in order to show users the consistent content between the first message and the follow-up message, you can use Product Attribute Consistency.

1. Select Product Catalog and Price Drop on the Add Dynamic Content menu. 

2. Check the Use the Price Drop Attribute that let user into this Journey box.

3. Choose the product attribute that you want to insert in the content.

4. You will see the respective information at the top of the page. Accordingly, the product attribute(s) you choose will be inserted in the content. 

5. Customize your notification setttings.

• Define a fallback value for your dynamic content. 
• You may also consider not sending a lot of messages to not bother users. Constant messaging might be annoying, especially in the sales peak seasons when your whole platform goes under sale. You can set Journey Entry Capping to prevent overcommunication by not taking users on journeys.
• You can also use User Eligibility setting in order to prevent users to enter to the price drop journey too frequently and receive the same type of messages.
• You can check multiple reachabilities on channels for users at the same time and you can lead them to the corresponding path.

 Below you can see an example for advanced flow: