Jetlore is a personalized content ranking technology for e-commerce and omni-channel retailers. Founded by Stanford data scientists, Jetlore’s uses behavioral, contextual and product information to rank relevant content to make each customer experience fresh and relevant in email, website and mobile.
Jetlore offers personalization technology for Relationship Commerce: the ability to create constantly fresh and relevant experiences, even when the user has not expressed a specific intent. Jetlore’s adaptive ranking technology for individual products, sub-catalogs, and creative content works at the individual user level via four core aspects:
- Customer preference profiles: Build multi-device cross-channel 1-1 user profiles that represent a weighted sum of the entire history of user behavior and user contributed data rather than a collection of individual items the user has recently interacted with.
- Customer recognition: at engagement time (email open, page view, app view), Jetlore technology, combined with proprietary processes ‘recognizes’ a customer (using non-PII techniques).
- Content Ranking and experience design: At customer engagement time – real-time ranking of content for every user interaction: computed relevance of each piece of content is dynamic and changes with time, user actions, and reactions. Jetlore uses relevance of the content and delivers a cohesive, well-designed experience to wherever the customer engages (promotional and lifecycle emails, triggered emails, homepage, section page, mobile app).
- Adaptation: Adaptation of presented content based on user reactions: presented content must be iterated from the last experience and for each subsequent experience. Even ignored content is an implicit user signal: Jetlore adapts the next experience so that it is always fresh and relevant.
Top 100 omni-channel retailers and top global online retailers including eBay, PayPal, Art.com, One King’s Lane, and Rocket Internet unicorns like Global Fashion Group, Linio, and Home24, are using Jetlore to deliver hundreds of millions of uniquely curated e-commerce experiences per month. Jetlore’s customers realize up to 12 percent in incremental online revenue, tens of millions in monthly incremental physical store sales, best customer interaction lift of more than 50 percent, and overall CRM program revenue increases of up to 80 percent.
The Importance of Relationship Commerce to E-commerce Retailers
The e-commerce landscape is shifting. Fierce competition from Amazon in practically every vertical with superior selection of merchandise, better prices, and faster logistics are displacing other transactional commerce players. And through SEM/SEO Google extracts an ever larger amount of customer lifetime value for the service of directing customers to retailers’ sites.
In order to prosper in this competitive landscape, a new model of commerce is required. In fact, this is happening – most recent success stories in e-commerce are prime examples of relationship commerce: Wayfair, Dollar Shave Club, Zulily, even marketplaces like Etsy. Instead of focusing on acquiring transactions, these companies established themselves as leaders in specific verticals by providing a unique, differentiated experience with engaging retention mechanisms.
In well-executed Relationship Commerce, the retailer offers a steady stream of fresh, relevant experiences that pull user back onto the site even when the user does not have a specific intent (unlike transactional commerce focused on optimizing the funnel for users that already have a specific intent). Ability to pull users back is closely tied to the ability to personalize and get user to “buy into his profile” by contributing data (ability to add favorites, provide ratings, follow other users, add items to personal collections/boards, etc.). Data and user behavior then feeds back into personalization and higher levels of engagements (more frequent visits to the site). In the long run, higher levels of engagement translate into more repeat revenue, higher retention, and higher customer lifetime value.
Fresh & Relevant is Critical to Relationship Commerce
In Relationship Commerce, both fresh and relevant are essential. Relevant typically means predicted to be of interest to that user, and some use the term personalized. However, in the frequent, upper funnel touch points common to Relationship Commerce (which often lack recent context – last action may have been some time ago), fresh is required too. Without freshness, experiences get stale and repetitive. Freshness requires adaptation from one experience to the next based on continuous learning, tracking of all content impressions, and a method for exploring and exploiting customer changing interests. Jetlore’s adaptive content ranking achieves both fresh and relevant which makes it a powerful tool to build engaging, long-term, and high-value customer relationships.
Relationship Commerce – Powered by Jetlore
Jetlore enables all retailers to offer the leading experiences that create Relationship Commerce. The combination of technologies that Jetlore has developed are unique in meeting the requirements of providing an ongoing stream of fresh & relevant experiences that keep customers engaging – even when they don’t have an immediate purchase intent.
The Jetlore dashboard provides retailers with an ‘experience configurator’ where they can layout what an experience looks like in emails, on web pages, and in mobile apps:
- The retailer selects what types of content they want in certain areas (products, categories, certain product groups, different types of creative).
- With a click of a button, the Jetlore configurator generates and provides a code snippet that can be copied and pasted in the appropriate place.
Screenshot within the dashboard:
A discussion on the current state of personalization in e-commerce and where Jetlore fits:
The current state of ecommerce personalization – it is defined with two major functions:
- Creative optimization and contextualization: testing and dynamic selection of best-performing creatives as well as creative contextualization (based on user geography, time, browsing path, etc.) — Monetate, Evergage, Maxymiser, Optimizely, Moveable Ink
- Product recommendations contextualized to a specific user action (e.g., shopping cart item, last browsed product, last purchase) — Certona, Rich Relevance, Monetate
Jetlore’s technology is unique in that it combines the best of both worlds: deep understanding of user behavioral profile (typically associated with #2 from above) and dynamic adaptation and optimization capabilities (typically associated with #1 above).
Whereas traditional product recommendations (#2) simply react to user’s actions with a pre-computed set of results (thus quickly becoming repetitive), Jetlore ranks content like individual products, sub-catalogs, or promotions in real-time and quickly adapts ranked content based on user response. This way, Jetlore leverages the dynamic optimization capabilities typically present in (#1) but does it at the individual user level building a deep understanding of user behavior with respect to the product catalog.
This is particularly powerful in the upper funnel where content needs to be relevant yet constantly fresh and relevant to customers changing needs. The upper funnel includes: promotional and lifecycle emails, homepage and mobile home screen, and product listing pages (category pages).