After months of building and testing, we’re thrilled to launch the new and improved Upside Dashboard. Now retailers can do and see even more, using the Dashboard to surface the insights they need to make business decisions about where to invest their hard-won budget.
Most of the retailers we work with are extremely proactive when it comes to using data to make business decisions. Collecting the data they need usually isn’t a challenge; they either handle it internally or enlist a third party to help. Instead, the challenge lies in organizing and structuring that data in a way that provides meaningful and actionable insights into their business.
In the grocery industry—where customer segmentation is already at the heart of retailer decision-making—the difficulty lies in separating out expected behavior to understand the incremental (net-new) impact of any initiative on each customer, and at an aggregate segment-level. That's why we spent the last year working with grocers to understand the best way to surface insights on both customer-level and aggregated segment-level trends that prove Upside’s unique impact.
With the help of tens of thousands of retailers like you, the Dashboard now gives your program owners, finance personnel, marketing managers, and data analysts the specific, concise information they need to make smart investment decisions.
There’s a lot to be excited about with this newest iteration of our Dashboard. When I think about raising the bar on standard practice for performance measurement, there are three features that illustrate just how impactful these insights are for your business.
Upside’s test versus control methodology—in which we compare each individual Upside user with up to 100 “similar” users to isolate our “incremental” impact—is standard practice for medical studies, scientific experiments, and online commerce. But this approach is not the standard in brick and mortar commerce.
Instead, the standard in brick and mortar retail is pre-post measurement of a time-bound campaign. Looking at the duration of the campaign, metrics like clicks, views and scanned coupons provide retailers with important directional trends. But attributing all the business activity during that time to the campaign is risky for retailers.
This is where Upside goes beyond industry standard.
We run rigorous “test versus control” measurement for each individual user, at scale, encompassing millions of customers and hundreds of thousands of retail locations. This enables us to understand and change consumer behavior in a way that drives bottom-line profit.
Specifically, Upside analyzes your business, learns about the users near you (while safeguarding their privacy!), and delivers each user the personalized incentive they need to encourage them to choose your business more often. Importantly, this is done without double discounting, without taking credit for your other initiatives, and without cannibalizing your expected profit. In fact, you don’t pay for any customer incentive that doesn’t deliver incremental profit.
And now you can see all those data points right in your dashboard.
We’ve seen too many retailers either leave money on the table by under-investing in growth strategies that work, or lose money by investing in growth strategies that don’t. But distinguishing between the two is a challenge without information that confirms you’re investing in lasting customer behavior change that drives bottom-line profit, not just momentary campaign-driven sales blips.
Online commerce has already figured this out: real-time, user-level personalization and measurement maximizes value for everyone involved. We’re working to make sure brick and mortar commerce gets there too.
Products like the new Upside dashboard not only help you see the value of the Upside program, but also to help raise the bar for performance measurement across all your business partnerships.
Upside polled thousands of retailers to understand the biggest challenges they currently face, and a common theme emerged.
The average American only travels about three miles for casual meals out. How can restaurateurs get customers to go farther to choose them?
Request a demo of our platform with no obligation. Our team of industry experts will reach out to learn more about your unique business needs.