One of the fascinating, more advanced technologies I got to see at the IRCE was Optimove. Optimove is web-based software used by customer marketers and retention experts to grow their online businesses through their existing customers. The software combines the art of marketing with the science of data to help companies maximize customer engagement and lifetime value by automating ever-more personalized and effective retention marketing.
The product’s unique combination of technologies include advanced customer modeling, predictive customer analytics, customer hyper-targeting, calendar-based marketing plan management, multi-channel campaign automation, campaign success measurement using test/control groups, real-time campaign event triggers, a personalization recommendation engine, website/app activity tracking, and sophisticated customer analytics reports and dashboards.
When the company says, multi-channel campaign automation, they are referring to their software’s ability to manage and automatically execute fully-coordinated campaigns via multiple simultaneous channels, including email, SMS, push notifications, website pop-ups, in-game/in-app messaging, lobby banner, Facebook Custom Audience and others. The product offers built-in integrations (including IBM Marketing Cloud, Emarsys, Salesforce Marketing Cloud, Textlocal, Facebook Custom Audiences and Google Ads), but also has a powerful API which makes it straightforward to integrate Optimove with any in-house or third-party marketing execution platform.
An interesting highlight of the product is that everything works around dynamic customer micro-segmentation. The software segments customers daily, based on the data-driven identification of rapidly-changing customer micro-segments. These hundreds of small, homogenous groups of customers within the customer database can be hyper-targeted with very effective personalized communications. A big chunk of the micro-segmentation engine relies on predictive behavior modeling: the product applies advanced mathematical and statistical techniques to transactional, behavioral and demographic data in order to predict future customer behavior and lifetime value.
Another highlight is Optimove‘s real-time campaigns. These activity-triggered campaigns, which are usually focused on specific customer segments (such as ski enthusiasts, high spenders, infrequent shoppers or customers likely to churn), makes it easy for marketers to deliver highly-relevant marketing messaging to customers, in realtime, based on specific combinations of customer actions (for example: first site login in more than one month and visited the handbags department). By combining specialized marketing treatments based on customer actions and the deep segmentation provided by Optimove, marketers have far greater influence on customer response and loyalty.
One more point to mention is that the company positions their software as a more effective way for marketers to manage customer journeys. Instead of the traditional approach to managing customer journeys, which relies on creating a limited number of static journey flowcharts, Optimove allows marketers to more easily manage infinite customer journeys by relying on its dynamic micro-segmentation: by using customer data and predictive behavior modeling to identify the most important intervention points – and the best kinds of responses and activities for each – marketers can maximize customer engagement and satisfaction at every stage of every customer’s journey, regardless of how customers reached their current micro-segment. This approach promises to provide greater customer coverage and to be easier for marketers to scale and evolve their customer journey strategies.
Already a leading retention automation vendor in Europe, Optimove is rapidly growing its presence in the United States with the recent relocation of co-founder and CEO Pini Yakuel to the New York office. The company has already won US customers in verticals such as e-retail (LuckyVitamin, eBags, Freshly.com), social gaming (Zynga, Scopely, Caesar’s Interactive Entertainment), sports betting (BetAmerica) and digital services (Outbrain, Gett).
Consider why machine learning and predictive analytics can provide top- and- bottom- line value to organizations like yours with the right tools, training, and processes for a range of objectives and use cases.