Eversight, a leading provider of cloud-based software designed to improve promotion effectiveness and make better use of trade promotion dollars, and Periscope, a McKinsey solution focused on commercial performance optimisation including price-, promotion-, assortment-, and category optimisation, has announced a partnership to bring promotion “offer innovation” to a broad set of retailers and consumer goods manufacturers in the US and internationally.
Through this partnership, Periscope and Eversight said they will deliver a comprehensive set of software and service solutions which enable companies to innovate in-store promotions by digitally testing unique offers with real shoppers. According to the two companies, the result will be tremendous value for clients: by uncovering the most effective offers through real-world-testing of thousands of promotion variations, manufacturers and retailers can work together to roll out more effective promotions in brick-and-mortar stores, leading to substantial top- and bottom- line improvements.
“Periscope has always been about delivering and sustaining insight-driven commercial performance for our clients,” said Brian Elliott, CEO of Periscope. “The Eversight solution delivers a step change in insight unique in the marketplace – allowing our clients to find the best promotional offers and adapt with changing consumer behavior through ongoing micro-testing. Combining Eversight’s offer innovation with Periscope’s revenue management suite of solutions, especially with Periscope promotion advisor, will help organisations execute promotions with higher impact. We are excited about partnering with Eversight to take this new insight to the consumer goods companies and retailers we serve around the globe. ”
“The test-first approach at the core of offer innovation represents a paradigm shift for in-store promotions, moving them from hunch-based art to data-driven science,” said David Moran, Eversight co-founder. “We believe every single promotional offer a company puts forward should be tested before it is rolled out. Periscope’s global reach, complementary suite of solutions, and distinctive expertise in supporting transformational change management programs makes them an ideal partner to deliver these capabilities to more companies, more quickly.”
Greg Girard, program director, merchandise strategies at global market intelligence firm IDC, described the unique value of the partnership. “Retailers and manufacturers struggle on two fronts: innovating promotion offers and predicting how consumers will react to different pricing, promotion and marketing programs,” said Girard. “Combining rapid, high-volume micro-testing with capabilities to better implement, scale, and sustain the new test-first approach inside promotional planning processes of retailers and manufacturers can reduce the risk of promotional offer innovation. This means that decision-makers do not need to take their best guesses when developing promotional plans as they’ll have real evidence up-front that they can rely on.”