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David Shear, President and Jake Weatherly, CEOEnter SheerID, an Oregon-based company that addresses this need for highly relevant personalization in marketing and promotions with its unique identity marketing platform. The company’s platform assists retailers and brands by instantly verifying the identity of consumers and businesses, allowing them to deliver gated, personalized offers and experiences to high-value customer segments. It also helps in creating a powerful connection with consumers by targeting personality traits associated with their profession, affiliation or life stage. For example, as a member of the teaching community, a professor would feel much more inclined to engage in an offer that is tailored for teachers rather than a generic, age-defined advertisement. “Unlike most personalization solutions, our platform targets specific consumer tribes with a personalized offer. Consumers respond because they feel recognized by the brand, and are highly motivated to share it with others in their network, driving acquisition costs down,” says Bill Schneider, VP of product marketing at SheerID.
With the identity marketing platform, SheerID is striving to recognize and solve the prevalent challenges in the retail marketing space. SheerID emphasizes incorporating features that would mitigate issues faced by retail firms regardless of their size, scope, and preferred mode of marketing. To facilitate instant verification of a customer’s identity, SheerID’s platform leverages its extensive network of 9000 authoritative data sources around the world. These authoritative data sources include registrar offices of universities, military records and status databases, among others. And, with the platform’s in-built optimization tools, retail businesses can perform A/B testing for their campaigns and ensure that consumers complete their identity verification process efficiently. The identity marketing platform also offers reporting and analytics to help brands track marketing performance by consumer tribe, revenue generated, and average order value. Furthermore, to help retailers take advantage of its platform’s highly flexible architecture, SheerID has developed an offer creation tool. As a self-service tool, it allows users to customize their program according to the targeted consumer tribe, build the verification form process that fits the brand image, manage reward codes, and then push it to their test server for trial.
SheerID emphasizes incorporating features that would mitigate issues faced by retail firms regardless of their size, scope, and preferred mode of advertising
With such unparalleled functionalities, SheerID has ignited success stories with some of the biggest names in retail, including Target, Lowes, T-Mobile, Comcast, Spotify, and many others. Further elaborating on their proven track record, Schneider mentions the story of SheerID’s collaboration with the industry-leading direct to consumer mattress company, Purple. Initially, the client developed a program to verify eligibility for their military program. However, the client struggled to mitigate the inefficiencies caused by their manual identity verification and document review processes. “Subsequently, the customer acquisition leader at Purple approached us to enhance their program’s customer experience,” mentions Schneider. As a result of this collaboration, the client experienced a meteoric rise in the number of consumers applying for their military-specific program and reported a 25:1 return on ad spend.
As a pioneer in identity-based personalization, SheerID attributes its success to the company’s emphasis on offering brands a personalization solution that delivers unparalleled relevance, verified data, and consent-driven, privacy-friendly brand engagement. To this end, Schneider recognizes the growing significance of privacy and ensures that the SheerID solution never shares or sells any personal customer data to a 3rd party. “We give confidence to both the customers and the brands to deliver a clear, consent-based value exchange to create long-term relationships based on trust,” adds Schneider. Moving forward, SheerID aims to extend this trust to businesses beyond the U.S. By expanding its authoritative data sources network, SheerID plans to develop features that can engage with additional consumer tribes around the world.
SheerID and BritBox Partner to Honor First Responders and Healthcare Workers With 30% Off Up to 12 Months of the Streaming Service
Tuesday, October 18, 2022
New Survey Reveals 90 Percent of Gen Z Students in India Are More Likely to Purchase from Brands That Give Exclusive Offers
Thursday, August 29, 2024
PORTLAND, Ore--SheerID, the global leader in identity verification for commerce, today announced the publication of its 2024 India Gen Z Report. This survey, fielded by Centiment on behalf of SheerID, looked at Gen Z purchasing behaviors, what they want from brands and how brands can provide it. It revealed that Indian Gen Z students are feeling optimistic about the economy, and brands can effectively tap into that optimism by sharing exclusive offers just for them. Nine out of 10 Gen Z students surveyed said they would be more likely to purchase from a brand that gave them an exclusive offer and a whopping 99 percent would share that offer with others who are eligible.
Fast-growing economy in India creates new retail opportunities
Ninety-nine percent of Indian college students today are Gen Z, and the number of college students in India is estimated to nearly double by 2035. To learn how this influential group makes purchasing decisions and better understand how to effectively reach them, SheerID commissioned a survey by Centiment from June to July 2024 that yielded actionable data relevant to any brand seeking to reach the lucrative and fast-growing Gen Z market in India.
Fueled by their country’s astonishing seven percent estimated annual GDP growth rate, 57 percent of Gen Z students in India said they feel optimistic about the economy. While they’re living on limited student budgets today, the brand relationships they form today will hold the key to tapping into this group’s significant future spending power.
Capture Gen Z’s attention with exclusive offers
The survey showed one of the best ways brands can leverage both Gen Z’s optimism and budget-consciousness is by offering a student discount. While nearly half of Gen Z students said a general discount from a brand would motivate them to buy, a special offer, just for students, stands out even more. A whopping 93 percent of Gen Z students said they would be more likely to purchase from a brand that gave them an exclusive student offer, and 92 percent said they check to see if a brand offers them an exclusive discount before purchasing from it.
Exclusive offers for students promote viral sharing
Students in India are active on social media, and 74 percent of Gen Z college students surveyed said they find out about new brands through social media. In addition, 37 percent learn about a new brand through a recommendation from a friend or family member.
Tapping into that brand enthusiasm pays off. Ninety-nine percent of Gen Z students in the survey said they would share an exclusive offer with others who were eligible for it. That is a powerful way to rise above the social media noise, inspire viral sharing and build engagement with this influential community. And for brands that are seeking lower cost customer acquisition strategies, this data suggests there is a big opportunity for brands to capitalize on this opportunity.
Build a foundation of loyalty based on emotional connection
The engagement a brand fosters today with Gen Z students lays the groundwork for incredible opportunities India’s Gen Z will provide in the coming decade. Sixty-four percent of students say they feel more emotionally connected to a brand that gives them an exclusive offer, 9 in 10 are more likely to buy from the brand and nearly 8 in 10 would be more likely to join the brand’s loyalty program to redeem it.
In a country where 40 percent of Gen Z college students said they would switch their loyalty from one brand to another if they were given an exclusive student discount, brands simply can’t afford not to give exclusive discounts.
Grab more attention with freebies
While Gen Z loves exclusive discounts on price (more than 37 percent said they like getting both an occasional 20 percent discount and 10 percent off every purchase), the survey showed that even more of Gen Z are attracted by freebies. When asked what kind of exclusive offer would be appealing, 57 percent said free shipping, 56 percent said a free gift and 39 percent said buy one get one (BOGO).
The verification experience matters for both Gen Z and brands
Brands need verification to ensure a Gen Z student is enrolled in college to minimize fraudulent behavior. Students are attracted to the exclusivity of an offer, but they also have concerns about data privacy and want a frictionless digital experience. Sixty-six percent of Gen Z students in the survey said that being verified instantly and not having their data shared with other brands would have a positive impact on their decision to redeem an offer. Nearly half said a verification process that takes longer than five minutes creates a negative impact on their purchase decision.
Closed affiliate verification providers require consumers to leave the brand’s website to create a separate account, adding friction that can drive Gen Z away from completing a purchase. However an open verification platform – one that verifies eligibility as a part of the natural flow of the purchase process – addresses all of these concerns, increasing conversions while ensuring a positive, trustworthy, in-brand experience.
“Exclusive offers are not just a way to capture Gen Z's attention—they are the key to building lasting brand loyalty,” said SheerID President and Co-Founder David Shear. “We're thrilled to tap into the India market and help brands connect with the next generation of consumers in a way that drives engagement and growth.”
Shear will be talking in-depth about these findings exclusively at India's premier ecommerce event, ETRetail E-Commerce & Digital Natives Summit 2024 in Bengaluru on September 4th and 5th.
Tech Moves: SheerID adds revenue chief; Sana CFO stepping down; Seattle HR vet launches new firm
Thursday, September 26, 2024
Portland, Ore.-based identity verification company SheerID named Rebecca Grimes as its new chief revenue officer.
Grimes previously was chief sales and marketing officer at Searchspring, and chief revenue officer at Ruby. She also spent time at Cheetah Digital, PowerReviews, and Vibes.
SheerID helps consumer brands run special deals for students, teachers and the military. Its platform collects information from consumers to verify if they are eligible for these deals. Companies such as Amazon, Google, Home Depot, Spotify, T-Mobile, and Walmart use its products.
In June the company named Stephanie Copeland Weber as its CEO, succeeding SheerID co-founder Jake Weatherly, who is now board director and strategic advisor.
Founded in 2011, SheerID has raised $93 million. Investors include Seattle’s Voyager Capital, Fortson VC, Brighton Park Capital, CVC Growth Partners, Centana Growth Partners, and others.
Other key personnel changes across the Pacific Northwest tech industry:
— Sana Biotechnology CFO Nathan Hardy is stepping down, effective Oct. 4. Hardy, also an executive vice president, joined the Seattle biotech company in 2018 after stints with Juno Therapeutics and Amgen. He is resigning for personal reasons, Sana said in a regulatory filing.
— Robin Andrulevich, former chief people officer at Sana, launched her own consulting firm called Nine Lives Consulting that provides HR and operational consulting for the tech and biotech industries. Andrulevich previously worked for Juno, Madrona Venture Group, and Amazon.
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Company
SheerID
Management
David Shear, President and Jake Weatherly, CEO
Description
SheerID is the leader in identity marketing. With SheerID, brands identify and acquire consumer tribes – such as the military, students, teachers, and more – with personalized offers, gated by instant verification from the largest set of authoritative data worldwide. SheerID instantly verifies customers via 9,000 authoritative data sources and 1.3 billion identity attributes; provides global insights from over 200 of the world’s leading brands; and never shares or sells customer data. As a result, the world’s biggest brands – including Amazon, Lowe’s, Spotify, and T-Mobile – rely on SheerID as their identity marketing partner. Founded in 2011, SheerID is backed by Voyager Capital, Centana Growth Partners, and CVC Growth Partners
