The Next Generation of Discount Strategies: Introducing Promi

Promi, founded in 2024 and headquartered in San Francisco, is a state-of-the-art pricing and discount optimization platform. With a core mission to assist ecommerce merchants in maximizing their sales and profits, Promi provides innovative personalized and dynamic discounting strategies. The company was established by Jiaxin Lin and Peter Moot, both of whom bring a wealth of experience and knowledge from their previous roles at Uber.

How Did the Founders Meet and Decide to Start Promi?

The inception of Promi is a testament to the power of collaboration and shared vision. Jiaxin Lin and Peter Moot’s paths crossed at Uber, where they both held significant roles. Peter, who led product discounts for Uber Eats and Rides, had firsthand experience with the inefficiencies of traditional discount strategies. Jiaxin, a vital member of Uber’s core AI team, contributed his expertise in recommendation and personalization systems. Peter's observation of the wasteful nature of discounts and the potential for improvement sparked the idea for Promi. Recognizing the substantial impact that optimized discounting could have on business efficiency and ROI, the two decided to channel their combined expertise into creating Promi.

What Problem Does Promi Address for Ecommerce Merchants?

Ecommerce merchants often rely on discounts to attract customers, boost sales during peak seasons, or clear out excess inventory. However, the process of determining the right discount value, identifying the target audience, and selecting the applicable products is frequently based on guesswork. Even the most sophisticated approaches involve manual analysis of historical sales data to determine what strategies have worked in the past. More often, decisions are made based on intuition rather than data-driven insights. Promi addresses this challenge by utilizing advanced data analytics to optimize discounts at a granular level. This dynamic approach enables the determination of the most effective discount values for each product, tailored to individual users and specific times, ultimately enhancing sales and profitability.

How Does Promi Optimize Discounts More Effectively?

Promi stands out by leveraging store data to provide a level of discount optimization that is beyond the reach of manual methods. By analyzing various data points, Promi can dynamically adjust discount values across different products, users, and times. This ensures that each discount is tailored to maximize its impact on sales and profit. Merchants can see up to a 40% improvement in discount efficiency and a 30% increase in conversion rates by making discounts visible earlier in the shopping process.

What Unique Features Does Promi Offer?

Promi offers a range of unique features that distinguish it from conventional discounting methods:

1. Variable Discount Values: One of Promi’s standout features is the ability to create a single discount code that applies different values across various products. This allows merchants to reflect the differences in profit margins and pricing strategies in their discount approaches, leading to significant improvements in efficiency.
2. Upstream Discount Visibility: Traditional discounting methods often wait until checkout to apply discounts. Promi changes this by allowing merchants to display discounted prices on product and collections pages as soon as customers apply a discount code or view automatic discounts. This proactive approach enhances the customer shopping experience and increases the likelihood of completing a purchase.
3. Deep Links: Promi’s deep links are designed to streamline the discount application process. These links can apply the discount and trigger personalized price changes with a single click, making it easier for customers to see the benefits of promotions. Deep links can be used in various marketing channels, including emails, ads, and directly on websites, linking to product or collections pages and showcasing price strikethroughs and discount descriptions.

Who Are the Active Founders of Promi?

Promi was co-founded by Jiaxin Lin and Peter Moot, who bring complementary skills and experiences to the company. Jiaxin, an avid coder and lifelong learner, has dedicated much of his career to working on recommendation and personalization systems in the ecommerce space. Peter, who holds a degree in economics and computer science from Harvard, led product discounts at Uber before founding Promi. Their combined expertise in AI, data analysis, and ecommerce has been instrumental in developing Promi’s innovative solutions.

How Does Promi Improve Discount Efficiency?

Promi improves discount efficiency through its ability to vary discount values across products within a single code. This feature allows merchants to account for differences in profit margins and pricing strategies in their discounting efforts. By doing so, merchants can achieve up to a 40% improvement in the efficiency of their discounts. This tailored approach ensures that each discount is optimized to provide the maximum possible benefit.

What Are the Benefits of Showing Discounts Upstream of Checkout?

One of Promi’s key innovations is its ability to display discounts on product and collections pages before checkout. This early visibility of discounts enhances the shopping experience for customers, making them more likely to complete their purchases. By seeing the discounted prices earlier in their shopping journey, customers feel more confident and encouraged to proceed to checkout. This approach can lead to a significant increase in conversion rates, with some merchants seeing up to a 30% boost.

How Do Deep Links Enhance Marketing Campaigns?

Promi’s deep links are a powerful tool for enhancing marketing campaigns. These links simplify the process of applying discounts and personalizing prices, making it easier for customers to take advantage of promotions. Deep links can be integrated into various marketing channels, such as emails, ads, and websites, providing a seamless shopping experience. By clicking on a deep link, customers are directed to specific product or collections pages, where the discount is automatically applied, and price changes are reflected. This streamlined process not only improves the customer experience but also boosts the effectiveness of marketing efforts.

What is the Future Vision for Promi?

Looking ahead, Promi aims to continue its trajectory of innovation in the ecommerce space. The company is committed to helping merchants optimize their pricing and discounts through advanced data analysis and personalization techniques. Promi’s vision is to become the leading platform for pricing and discount optimization, providing merchants with the tools they need to maximize their sales and profits. As ecommerce continues to evolve, Promi is dedicated to staying at the forefront of technological advancements and delivering value to its clients.

How Does Promi Ensure a Seamless Integration for Merchants?

Promi understands the importance of seamless integration for ecommerce merchants. The platform is designed to be user-friendly, with an intuitive interface that makes it easy for merchants to upload data and configure discount settings. Promi supports easy CSV uploads for creating discounts with variable values across products, simplifying the setup process. Additionally, the platform offers customizable price strikethroughs, discount descriptions, and sales badges that can be tailored to fit each merchant’s site design. This flexibility ensures that Promi can be integrated smoothly into existing ecommerce operations without disrupting the customer experience.

What Impact Has Promi Had on Early Adopters?

Early adopters of Promi have reported significant improvements in their discounting strategies and overall sales performance. By leveraging Promi’s data-driven approach, merchants have been able to optimize their discounts more effectively, leading to higher sales and increased profits. Testimonials from early users highlight the ease of use and the tangible benefits of Promi’s dynamic discounting features. Merchants have praised Promi for its ability to provide deeper insights into customer behavior and its impact on conversion rates.

Conclusion

Promi is at the forefront of revolutionizing ecommerce discounting strategies. By leveraging advanced data analytics and personalization techniques, Promi helps merchants maximize their sales and profits while making discount strategies more efficient and effective. Co-founded by industry veterans Jiaxin Lin and Peter Moot, Promi is poised to become a leader in the ecommerce optimization space. The platform’s unique features, such as variable discount values, upstream discount visibility, and deep links, provide merchants with powerful tools to enhance their discounting strategies and drive customer engagement. With a vision to continuously innovate and deliver value to its clients, Promi is set to transform the way ecommerce businesses approach pricing and discounts.