Engage3 and McClatchy Team Up to Launch Digital Personalized Promotions Solution for Retailers and Brands
DAVIS, CA - Intelligence and consumer engagement company, Engage3, announced a recent milestone in the form of a collaboration with news and information provider, McClatchy.
Together, the two said they will work towards launching a new artificial intelligence (“AI”) powered personalized promotions solution for retailers and brands.
“There is a real need for this type of solution in the market,” said Engage3’s SVP of Personalization, Rob Culin, formerly of dunnhumbyUSA and IBM’s DemandTec. “Globally, $1 trillion is spent annually by brands on promotions with about 2 out of 3 failing to generate a positive return. We are applying patented price optimization technology for personalized offers that will set the standard for the industry. We are thrilled to launch this with McClatchy, a very progressive and innovation-driven company with a strong customer base and deep relationships with retailers.”
With the goal of enabling retailers and brands to provide consumers with personalized offers based on their buying intent and past purchasing history, the company stated that the solution will help retailers and brands optimize trade and promotion, while delivering relevant offers to consumers.
“Millennials now represent a fast growing segment of retail sales and expect offer personalization from businesses,” said Christian Hendricks, VP of Products, Marketing, and Innovation at McClatchy and Chairman of the Local Media Consortium. “We are excited to partner with the team responsible for inventing price optimization. Together, we plan to bring a very innovative solution to market enabling retailers to personalize advertising and promotions, improve trade fund ROI, and pay for ads directly driving sales.”
In a press release, Engage3 noted that its Consumer Engagement and Personalization platform demonstrated a 5X performance improvement in the success of promotions, per a study conducted by Arizona State University. By comparison, promotions driven by segmentation showed a 3.5X improvement.
This will now combine with McClatchy’s vast consumer and retailer reach, with the aim of addressing inefficiencies in trade and promotional spending.
The company is currently publisher of 29 newspapers in 28 U.S. markets, with a rapidly expanding digital presence achieving more than 45 million monthly unique visitors and 250 million monthly page views. Published brands include:
- The Miami Herald
- The Kansas City Star
- The Sacramento Bee
The initial rollout and launch are currently slated for the fourth quarter of this year across select McClatchy media territories.