Formation Releases 3-Step Offer Capability

Formation has expanded its offer library with additional gamified three-step offers.

"Now marketers can easily create highly engaging gamified experiences using any event data they provide to the Formation platform, not just transactions," said Christian Selchau-Hansen, co-founder and CEO of Formation, in a statement. "Marketers can create experiences and offers using any event out of hundreds of potential actions, and it all can be done from within an easy-to-use UI. This enables personal gamified journeys to be easily and quickly created leveraging the Formation platform's A.I. and automation."

The addition of the 3-Step Offer to Formation's offer catalog enables marketers to create personal gamified offers out of any three actions, selecting from both transactional and non-transactional actions. Marketers can engage customers not only across traditional transactional use cases but also non-transactional behaviors, such as registering for a loyalty program, downloading a mobile app, completing account profiles, referring a friend, and/or writing a product review.

Formation's Dynamic Offer Platform automates the execution, fulfillment, and measurement of personalized offers at scale. Marketers build campaigns focused on a specific business objective from a wide range of single-action or multi-action offer types. The platform then automatically generates a unique offer for each customer within the guardrails determined by the marketer and continuously optimizes each campaign automatically.

Formation's platform integrates with existing marketing stacks to ingest and process data from customer data platforms, deploys campaigns through existing distribution channels, and fulfills rewards through loyalty systems.

Key benefits of the new platform enhancements include the following:

• A comprehensive offer catalog of offer types that enables marketers to engage customers in new ways and meet specific business objectives, such as increasing frequency, driving second purchase, category exploration, and digital onboarding.
• Automated generation of personalized offers at scale using machine learning.
• Multi-step offers that gamify both transactional and non-transactional experiences to increase frequency and spend.
• The ability to explicitly define and target incremental behaviors, such as spend, visits, and engagement at the individual level to maximize revenue from each customer.
• Continuous offer optimization with machine learning functionality that automates campaigns to get continually smarter over time, adjusting offers to maximize customer lifetime value.
• Metrics and insights, with a dashboard that provides key metrics for the offer funnel, engagement, consumer spend, and overall campaign KPIs over time.
• Integrations into existing tech stacks, allowing organizations to leverage marketing, loyalty, and other customer data sources through open API surfaces.

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