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What is Monocle, and how does it work?

min. read
What is Monocle, and how does it work?

The power of discounts and promotions in all forms of commerce cannot be overstated. But, while the majority of businesses rely on these incentives to drive customer demand, their strategies rarely go beyond blanket percentage offers for new or returning customers.

Sound familiar?

That's why we built Monocle. Most businesses don't have the resources to develop highly personalized incentive strategies at scale. With Monocle's AI-powered incentive platform, your business can seamlessly generate and deploy personalized offers that delight customers while driving profitable growth.

The shortfalls of most modern incentive platforms

While there are many tools currently available for businesses to run promotions and discounts, most have a tendency to overwhelm customers with generic offers, negatively impacting margins and burdening your teams.

Let's dive a bit deeper into these issues:

Conflicting offers confuse customers

Without a clearly defined promotion structure, it's common for incentives to conflict with one another and lead customers further away from the path to conversion. For example, if a customer receives a 15% discount and then a 20% discount a week later, they might opt to wait for an even better offer to surface rather than completing their purchase. Conflicting offers ultimately lead to a confusing customer experience that erodes trust and dissuades customers from converting.

Suboptimal offers leak value

Broad-stroke methods like A/B testing fail to capture the full range of customer preferences, eroding your margins. For example, with typical A/B testing, high-intent customers who would have purchased without an offer receive the same blanket discount as everyone else. Meanwhile, profitable customers who need a slight nudge from a GWP or free shipping may not receive an offer — so they abandon their purchases.

Manual processes overburden teams

Existing incentive infrastructure requires teams to connect piecemeal discount tools that rely on manual tracking and performance analysis. However, customer demand patterns are constantly evolving, meaning results quickly become obsolete. So marketing teams spend countless hours re-assessing the effectiveness of discounts — at the expense of strategy and execution.

Monocle helps businesses create smart incentives that generate more profit

Monocle addresses the shortcomings of modern incentive platforms by empowering businesses with automated causal AI models that generate personalized and profitable offers.

Here's a breakdown of the core pillars of our platform:

Offers: Set up and explore a wide range of incentives

The starting point of our solution is defining the offers that you want our platform to consider. We support a wide variety of offers, from free shipping and percent off to more nuanced incentives with order thresholds or redemption restrictions. The depth of incentives we offer helps brands experiment with promotions they’ve always wanted to explore and find the users they resonate with most.

Causal AI engine: Generate the best offer for every interaction

Once your offers are set up, our causal AI models get to work analyzing hundreds of customer signals to help you find the optimal offer for every customer. Monocle uncovers the incremental effect of every offer so your brand can prioritize offers that maximize profit. To ensure your brand maintains absolute control over its promotion strategy, you can also restrict offer allocation (e.g., give the highest offer only to X% of customers) to strike the perfect balance between profitability and demand generation.

"Monocle's ability to determine customer purchase intent and allocate offers to those who need a push to convert has been a complete game-changer." – Kelly Spencer, Retention Marketing Manager at Death Wish Coffee

Seamless integrations: Drive value from day one

With Monocle, you don't need to replace your current marketing and commerce stack. Instead, we plug into your existing delivery system to get you up and running within days. Whether you use email, SMS, pop-up forms, or site assets, Monocle injects the right offer directly into the desired customer interaction. We offer integrations with all the leading promotion delivery systems, including Klaviyo, Attentive, Shopify, Postscript, and more.

"There's always a bit of trepidation when you're overhauling a critical sector of your business. But after seeing what Monocle can do, we're already looking to implement them across the rest of our flows." – Phil de Winter, Co-Founder at Nala

Intuitive admin app: For granular performance tracking

Our platform wouldn't be complete without performance reporting and tracking. Through Monocle's intuitive admin app, you can dive into the intricacies and performance behind your promotion spend. You can also control and configure models, add or drop offers, change discount strategies, and integrate Monocle into additional channels.

"Without Monocle's detailed breakdown of individualized offers, we wouldn't have been able to execute a promotions strategy that drives more revenue while offering fewer discounts." – Lyndsey Adamo, Associate Director of Retention at Honeylove

Transform your promotion strategy into a profit-driving engine with Monocle

Gone are the days when generic offers had the ability to drive conversions and retention. Monocle empowers you to deploy personalized incentives that delight your customers and ensure your brand can grow without eroding margins or brand equity.

Ready to see what Monocle can do for your business?

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