How LoyPal measures success
Adopting new tech can be a big commitment – and accurate results matter. Here’s how we deliver ours.
New year, new platform?
The martech offerings out there can be overwhelming, and committing to a new tool or platform is no small thing: quite aside from the financial outlay, you’re looking at the time and staffing resources required to understand and operate your new tech effectively.
Of course, it’s all worth it when it works – but how can you tell if it is?
Often it can be difficult to determine whether a spike in sales is the result of shiny new technology or something else entirely.
Not with LoyPal.
Unlike many martech providers, LoyPal uses a control group to measure success and to prove that its approach to segmentation and strategy is delivering results.
“We wanted to ensure our customers are getting value from the platform,” says Andrew Fisher, the co-founder of LoyPal, which uses intelligent customer segmentation to drive sales.
This is not the approach favoured by many customer data platforms. “Most martech either provides an optional way to measure success at an executional level, like split-testing content in email, or assumes your ‘data team’ will manage it,” says Fisher.
“This approach means there’s a lack of consistency as well as lots of potential for error. And it ties up your really expensive data team with tasks your segmentation platform could handle at source.”
Whenever LoyPal begins working with a new brand, customers are split into two groups: the test (or “active”) group and a control group. The control group experiences regular brand interactions, while the active group is delivered LoyPal’s recommendations. Then, the results of the two groups are compared.
“This way we can measure performance across the entire campaign process without needing to do any post-processing of cohorts, and we can accommodate data lags automatically, like sales data coming in for the campaign period after it has finished. All of this drives a test-and-learn mindset with us and our clients and means we’re constantly evolving our recommendations.”
It also means that your data team is free to work on other high-value activities, while LoyPal takes care of measuring results.