Palo Alto, Calif. – January 11, 2017 – Eversight, the leader in Offer Innovation software, today announced it achieved record growth in its fiscal year ending December 31, 2016, including nearly tripling its enterprise customer base.
Eversight provides Offer Innovation software solutions to enable consumer products manufacturers and retailers to discover, test, and deploy more effective promotions. The Eversight platform utilizes machine learning to continuously learn which promotional factors such as call-to-action, discount depth, price point vs percent-off, images, and more, contribute most to results. Eversight then micro-tests dozens of potential new offers with real consumers in digital channels such as social media or retailer loyalty apps.
In 2016, Eversight greatly increased its enterprise customer base, adding top-tier brand names such as Keurig and Red Bull, expanding into the UK and Europe with one of the region’s (and world’s) largest retailers, and renewing and expanding existing customer relationships. Eversight customers also increased the number of deployed offers in-store by more than 500% and the company now serves more than 50% of the Top 20 U.S. consumer products manufacturers.
“2016 was really a breakout year for Eversight and our customers. I could not be more proud of what we have achieved together,” said Jamie Rapperport, CEO of Eversight. “In 2015, we proved that Offer Innovation technology could scale with a number of large, early adopter customers. Our growth in 2016 now demonstrates that the digital disruption of trade promotions is accelerating with Offer Innovation becoming the new de facto standard methodology for both CPG manufacturers and retailers.”
Throughout 2016, the company enabled the expansion of existing and new customers by continuously enhancing its flagship Offer Innovation platform and solutions across three primary dimensions:
- Enhanced Analytics such as embedded factor analysis, new consumer engagement metrics, and a new predictive offer engine with adaptive learning and visualizations to identify and highlight the best offers to test.
- Automation and Ease-of-Use capabilities such as pre-built offer structures for rapid setup, intelligent image selection for ad creative, and a fully redesigned and intuitive campaign manager, all features that enable customers to spend more time on analysis and insights and less time on the mechanics of testing.
- Integration to Business Processes: In order to easily integrate into existing business processes, the Eversight platform now features a complete retail collaboration portal streamlining the joint planning done by manufacturer sales teams and retail buyers as well as enhanced email and e-commerce related testing platforms to enable e-commerce merchants as well as manufacturers to leverage Offer Innovation for online promotions in addition to in-store offers.
“When we founded Eversight and developed the initial platform, we knew the technology would have a major impact on the industry,” added David Moran, co-founder and Chairman of Eversight. “But to become the de facto standard for the industry, we also knew that we needed to automate the fit with existing systems and processes. In 2016, we not only made significant progress in that area, but also continued to push the envelope on new analytics to drive powerful insights and even better decision-making and results for our customers.”
Eversight also continued to expand the industry ecosystem around Offer Innovation in 2016 with new strategic partnership initiatives. The company continued to expand its revenue growth best practices and joint solutions with Periscope™ By McKinsey and also forged a new partnership with Nielsen designed to bring new, innovative offerings to market based on the Eversight platform and market data now available via the Nielsen Connected Partner Program.
Eversight promotions deployed by manufacturers and their retail partners typically out-perform traditional promotions by 5-25%+, and the company has quickly become the software platform of choice for major manufacturers including Coca-Cola, Ferrero, Keurig, Kimberly-Clark, Nestle and other leading brands.