One of the main features that BestPush provides is the ability to give the minimum discount possible to each customer. By doing so, we make sure that customers are intrigued to use the discount and make a purchase, while keeping the costs of the shop at a minimum amount. This will create a win-win situation for both the shop owner and the customer.
But how does this feature actually work in BestPush?
Many people wonder how it is possible to find the minimum discount to give to customers. The answer lies within the power of machine learning. BestPush works with these learning algorithms to learn about your customers and to personalize the messages that they will receive.
Machine Learning for Understanding the Customers
Now, let’s go a little bit deeper into how machine learning algorithms work. These algorithms start with gathering information and data, or using a data set that has been given to the system as a starting point. Then, that data will be used to create a model, which implicates what factors and attributes have impact on the outcome. Over time, the model is applied to new data gathered from the customers and will be adjusted to the latest information. This is why they are called learning algorithms — because they learn from data and improve constantly.
How The Minimum Discounts Work in BestPush
The learning engine in BestPush learns about your customers, based on their behavior within your website. The learning includes, but is not limited to, the individual’s price sensitivity and their interests. The price sensitivity will be used as a measurement for the minimum discount possible. If someone didn’t seem interested in expensive items in their prior visits, then they will be offered a higher discount percentage (because the less the price, the more the item will be interesting to these people). On the other hand, if the customer has shown interest in different items in the shop, from the cheap ones to the expensive ones, they will get a small discount just to be motivated to make a purchase.
However, these discounts are always within the boundaries you have set for your business in BestPush’s panel. For example, if you indicate in your panel that the maximum discount you are willing to give is 30%, no discount higher than 30% will be given to customers, no matter how price sensitive and into cheap items they are.
So, to sum it up, based on the customer’s price sensitivity, which is learnt through machine learning algorithms, and the boundaries and limitations you have set in your BestPush panel, the minimum amount of discount will be given to customers. In the end, the whole point of giving minimum discounts is to increase your sales while not spending too much of your money on giving away discounted offers.