Please click here if you are using the latest version of Cortex.
This article is part of the Cortex Stage Guide. For the Subscription Cortex Stage Guide click here.
Price Drop is a great way to stimulate purchases as it targets users with a predicted preference for an item that is now reduced in price. It is sent out after an item in your store drops 1% or more in price, and targets only the users who are most likely to purchase that item.
Who will receive Price Drop?
Price drop will only be sent to users with browsing or purchase history that includes items similar or related to the item that is reduced in price. Price drop can be filtered to exclude or include customers who have purchased the reduced price item.
When will Price Drop send?
Price Drop will send the next day after Retention Science receives the reduced price, targeting users based on their best time to contact.
How do Product Recs work for Price Drop?
Product recommendations for Price Drop are split into 2 parts: the first part is the item that dropped in price, and the second part is a set of dynamic recommendations based on the similarity of other items in the catalog to the reduced price item.
- Include a high-urgency call to action, link both the product image and a CTA button
- Use generic language that works with a variety of products
- Introduce the deal in the subject line
- Build urgency and value by reinforcing the idea of getting the item before it sells out
- Experiment with subject lines and call-to-action lines to find what resonates with your brand's audience.
Setting up your Price Drop email:
1. Click on the Price Drop stage.
2. Click on "New Email"
3. Choose the type of "New Email" --> Custom HTML or Drag and Drop Template Builder.
4. Whether you select the Custom HTML version or the Drag and Drop Template Builder, you will fill in the following sections:
Template Name = name your template.
Subject lines = add the subject lines you would like to be automatically split tested.
Preview Text = add the preview text that you want included in this email. More info here.
Optional sections include:
From email name and address = who the email says it is coming from.
Reply To email name and address = who the email gets forwarded to when the user clicks reply.
**These are optional because you have already setup a default From and Reply To email address during onboarding. If you want specific emails to have different From or Reply To names/email addresses, you would update it here at the template level.
Incentives = If you wish to include dynamic incentives in your Welcome email, you would pull the eligible incentives from the advanced settings screen. More info on including incentives in emails here.
Optional sections include:
Targeted Segment = is there a particular segment you want this email template to go to? If so, select that segment from the drop down. More info here.
5. Select SAVE when finished with your email template.
6. Make sure to always send tests of your email before enabling. More info here on test sends before enabling.
7. When you are ready to enable the stage, after saving, select "Back to List" to go to the stage's main page.
8. To enable the stage you will flip the toggle to "on".
9. To check the reporting on your new template, go to Insights --> Artificial Intelligence Stats --> Trend Details.