Watch this #CCSeries webinar on-demand: http://rtou.ch/2mG4CP6
Artificial intelligence is being widely talked about in e-Commerce circles these days. But what does this really mean to consumer-facing brands? Hear case studies from brands that are leap frogging testing and segmentation strategies by employing true 1-to-1 personalization, powered by AI, to create individualized customer experiences. Join Adam Litle of Monetate to discuss real-life examples and successes. You will learn:
How leading retailers are experiencing significant conversion lifts and increased revenue by by using Artificial Intelligence;
How and why results gained from AI-Driven Personalization surpass those of testing and segmentation approaches;
How AI can enable 1-to-1 personalization that delivers incredibly engaging customer experiences that inspire loyal, lasting relationships; and
How AI can help educate your team with insight about your customers.
5. #CCSeries
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8. Thank you for joining us
Adam Litle
Monetate
Zachary Martz
Club Monaco
9.
10. 1
Homogenous Design
Some creative for everyone
Segmentation Micro-Segmentation Individual Design
Develop different creative
treatments for large groups
Develop different creative for small
groups with like characteristics
Unique creative for each person
Cost:
Audience:
Creative:
Personalization paradox
14. Why machine learning and why now?
Club Monaco
‣ Our testing and segmentation programs
have succeeded, but we used AI to
optimize even more
‣ Monetate is key in our stack to offer a
1-to-1 customer experience
‣ Retail is highly competitive. We are
excited to provide more 1-to-1 experiences
before others in our industry
15. Product page recommendations:
Impressive results with multiple goal metrics in the first month of use
Club Monaco
Why: Increase revenue per session
What: PDP recommendations with 4
different algorithms
+4.9% Revenue Per Session
LiftResults:
Lift based on 1:1 Decision vs. Randomized Decision
16. Email sign-up:
Impressive results with multiple goal metrics in the first month of use
Club Monaco
Why: Increase email sign-up rate
What: 3 different email sign-up modals
and messaging
+73.9% Email
sign-up liftResults:
Lift based on 1:1 Decision vs. Randomized Decision
17. Club Monaco expands its use of machine learning
Club Monaco
‣ Keep everything running: the longer the
algorithms run, the better they perform
‣ Optimize the entire funnel: run multi-page
journeys to optimize every stage
‣ Run cross-channel journeys: work with
Monetate on expanding across channels
18. How it works
EXPERIENCE ALTERNATIVES
PERFORMANCE
Additional Profit,
Revenue, LTV,
Conversion
INSIGHT
Correlated attributes
from model-driven
decisions
ANALYTICSGOALS
GOALS
• Max Revenue
• Max Conversion
• Max Engagement
CUSTOMER CONTEXT
Continuous Learning
Machine Learning
19. Updating our prediction about the best alternative to show an individual
Dynamic, real-time models
Seattle
Researched Women’s Shoes
Mobile Visitor
Clicked on Technical Ad
Weeknight Visitor
Unresponsive in Email
ALTERNATIVE A
-0.8
+1.1
+0.5
+1.4
+0.2
+0.9
+.0.1
-0.2
ALTERNATIVE CALTERNATIVE B
+1.3
+0.3
+0.7
+0.9
Alt B
Alt A: +2.2
COMBINED ALT:
Alt B: +3.2
Alt C: +1.0
B is best for
this context
20. Current state of personalization
Rules-based, single channel
Machine-driven, omnichannel
Agile testing on web
Segmentation
Optimization
1:1