Merchants can now engage every customer while they are in-store, even if they aren't enrolled in a loyalty program
LedgerPay’s innovative Payments Intelligence™ solution changes the game for brick and mortar retailers. Since our solution sits at the heart of the transaction flow, we see and capture every detail of every electronic payment – line-item history, category and brand preferences, physical locations, time of day, frequency, and spend – made by every consumer, in every channel.
This rich data is uploaded to the cloud in real time where our AI-based Engagement Engine transforms individual-but-anonymous customer profiles into segmented promotional offerings based on each shopper’s historical purchase behavior and category preferences. Segmented profiles are then correlated with targeted promotions and offers that are delivered at the point-of-sale (POS) to create an entirely new level of personalized engagement.
For the very first time, merchants can engage every customer while they are in-store, whether or not they are enrolled in a loyalty program.
How Payments Intelligence™ works
Our Payments Intelligence™ solution set has three operational components:
Customer ID Engine: Build detailed customer profiles using transaction data
LedgerPay adds an innovative layer to the traditional payment processing transaction: Our Customer ID Engine captures each credit/debit card and collects previously unavailable customer purchase data right down to the line-item detail of every basket.
By linking each transaction via a specific debit/credit card to a specific consumer, LedgerPay gives merchants the ability to recognize customer behavior on a visit-over-visit basis without requiring them to opt-in to a loyalty program.
Over time, this data collection builds a detailed-but-anonymized customer profile of every shopper without the burden of data compliance issues. Merchants can also manually manage the process through a web browser or an API that accepts inputs from ad agencies or existing loyalty programs.
Impact Optimization Engine: Track, analyze, and improve redemption rates
Once a promotional offer has been delivered, LedgerPay’s AI-based Impact Optimization Engine performs advanced analytics on each promotion’s redemption rate, inventory impact, and revenue boost.
This data is fed into a Machine Learning model that helps retailers continually improve future segmentation and promotional strategies. Beyond building a deeper understanding of what motivates each shopper to activate a promotion, this tool also allows for the ongoing refinement of a merchant’s ability to engage shoppers on a meaningful one-to-one basis while they are still in the store.
Engagement Engine: Segment and deliver personalized promotions at the POS
LedgerPay’s AI-based Engagement Engine seamlessly creates contextual loyalty by aligning behavior-based customer profiles with promotions designed to deliver specific outcomes.
Once segmented, these personalized offers are presented to the consumer at the point-of-purchase in real time. These promotions give a retailer the ability to address a variety of merchant challenges – increase frequency, average ticket, day part traffic, or highlight the introduction of new products or services – with unequaled accuracy while producing a scientifically measurable lift in loyalty and revenue.
Retailers can use LedgerPay’s growing menu of standardized promotions, develop custom offers or messages, or plug into an existing third-party segmentation tool. Offers can be delivered on a receipt, on the POS screen, as a prompt to the cashier to call out the offer, via a cell phone, or even by email. The Engagement Engine gives merchants an innovative way to continually refine the customer experience and build deeper relationships.
To learn more about how LedgerPay’s Payments Intelligence™ can help merchants level the playing field and create seamless engagement at scale, contact us now.
Connecting with 100% of Your Customers: How to Bridge the Gap Between Engagement and Loyalty
Nearly every restaurant has a loyalty program, but nearly 70% of regular customers never bother to enroll. This creates a huge blind spot into the menu preferences and purchasing behaviors of the majority of diners. LedgerPay changes all of that – download our new eBook and learn how you can seamlessly engage with every customer whether they are in your loyalty program or not.