27 Aug SheerID Expands Digital Verification Platform Enabling Marketers to Acquire Long-Term Customers Across More Segments with Gated Offers
Self-service platform simplifies creation and management of gated, exclusive offer programs; extends reach to over 10 high-value target segments
Portland, OR – August 27, 2018 – SheerID, the market leader in digital verification technology for gated offers, today announced a significant update to its digital verification platform to make it easier for marketers to acquire new customers with gated offers across a range of occupations, affiliations, or consumer life stages. Challenged with rising acquisition costs and interrupt-marketing approaches that the majority of shoppers ignore, marketers can now invite customers to opt-in to gated offers that recognize their eligible status. SheerID’s latest platform update extends the reach of these offers to new target segments, including seniors, businesses, employees, and the highly coveted student population in more than 100 countries.
According to a recent consumer shopping report, Privacy, Personalization, and Promotions, featuring primary research from Kelton Global, gated offers hold great appeal to consumers: 94% of shoppers would take advantage of a gated, exclusive offer; 91% would share one with their friends or family; and 82% would shop at a brand more often. By inviting shoppers to participate in a special promotion, then proving eligibility with digital verification, brands have increased conversion rates by more than 3x and driven return on ad spend (ROAS) as high as 20:1. As market demand shifts to these invitation-based marketing strategies, SheerID’s self-service platform makes it easy to cost-effectively implement, bring to market and measure gated offer programs.
Using SheerID for digital verification, Lowe’s has been running gated, exclusive offer campaigns to active military and veterans for just over a year. “While we had expected these campaigns to drive greater awareness for our brand, the engagement rate on them is 2-3x higher than other campaigns we are running,” said Ryan Fagan, Director of Sales and Operations Planning at Lowe’s. “However, the biggest surprise has been the way in which they’ve helped us to acquire new customers. As a retailer, you have to make a compelling case for why a consumer should shop with you, and based on the results we’ve seen, these exclusive offers have exceeded our expectations.”
The expanded SheerID platform enables brands of all sizes, with varying resources, to take advantage of gated offers to quickly customize and roll out offers to multiple teams. New analytics and reporting features also make it easy to measure the ROI impact of gated offer programs – including conversion rate, average order value, sales and fraud avoided – and adjust spend on-the-fly to the highest-performing programs. In addition to verifying eligibility for teachers, U.S. college students, first responders and members of the military, the SheerID platform now includes verification products for the following segments:
- International college student verification – Now available in 106 countries and counting, multinational brands can offer student seeding and discount programs to reach the highly lucrative millennial and Gen Z segments.
- Senior verification – Configurable to allow for senior segments age 50 and over, marketers can now create exclusive offer programs to seniors who control 75% of the wealth in the US.
- Young adult verification — Marketers can also verify younger age groups in states that allow exclusive offer programs for different age groups.
- Business verification – Instantly verifies 99% of small businesses in the U.S., enabling retailers to offer targeted discounts for small business owners.
- Employment verification – Provides instant verification for 65 million employees around the country, allowing brands to offer employee and partner discounts without requiring an employee’s SSN.
“Over the past couple of years, our customers have moved from experimenting with exclusive offers to making them a core part of their customer acquisition efforts,” said Jake Weatherly, CEO of SheerID. “Especially as the market moves towards an invitation marketing strategy that welcomes consumers to opt-in, digital marketers need to find cost-effective ways to engage key segments while also extending their reach where they are already recognized. With this in mind, we have developed the SheerID platform to make it as easy as possible for brands to match offers with their ideal customer segment. “
SheerID’s leading digital verification platform instantly verifies the identity of individuals and businesses, enabling enterprises to deliver exclusive offers and experiences to high-value customer segments while mitigating fraud and minimizing friction. By using authoritative data sources to verify credentials in real-time within an organization’s brand experience, SheerID delivers a seamless customer experience that reduces churn and fuels loyalty to drive revenue growth. As a result, the world’s biggest brands – including Spotify, Foot Locker and Microsoft – rely on SheerID as their trusted verification partner. Founded in 2011, SheerID is backed by Voyager Capital and Centana Growth Partners.