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Use Predictive Analytics With Campaign Insights

The Data Challenge

Most of us have already heard of the term “Personalization Payoff.” When a brand is successful in providing a relevant experience that connects with its audience, consumers “reward” the brand with quicker conversion rates, higher shopping cart values, and ongoing loyalty. It’s not surprising that 74% of marketers believe personalization and optimized experiences improve engagement; modern marketers know personalization is the key to being competitive in every industry.

But why, then, do so many marketers and their companies continue to struggle to personalize? According to Experian Data Quality Report, 94% of brands face challenges related to personalization. When you dig into the results, it’s clear this struggle relates directly to these companies’ lacking accurate and accessible data. These were the top three challenges in the report:

  1. 40% of marketers said their biggest challenge with personalization came down to not being able to gain insights quickly enough.
  2. Another 39% of marketers said they didn’t have enough customer data.
  3. 38% of marketers blamed their inability to personalize well on inaccurate data.

Without access to precise and complete insights, companies have trouble delivering engaging experiences for their digital customers.

Introducing Campaign Insights

This is why we at Oracle Maxymiser are excited to announce enhancements to our Campaign Insights solution! Part of our Predictive Insights capability, this solution provides predictive analytics that help marketers drive successful testing and personalization campaigns across all their digital channels, including websites, mobile sites, and apps. Predictive analytics is the use of data to develop customer profiles, discover the factors that lead to certain outcomes, and predict the most likely outcomes under certain conditions.

Imagine you just ran an A/Bn test across your entire audience to figure out which banner should be displayed on your homepage. The results show Experience A is the most popular with your audience as a whole, across all segments. However, to get more granular, one segment may have preferred Experience C to Experience A.

With Campaign Insights, you can figure out which visitors or audience subsets preferred certain experiences. You may find, for example, that visitors based in Seattle preferred Experience B. You may find that visitors who came via iPhone tend to preference Experience D. With this level of insight, you can more easily understand whom you should be targeting with what content to drive an even higher uplift in conversions and produce a successful personalization strategy.

How It Works

Oracle Maxymiser supports marketers in all their personalization initiatives by ingesting all available customer data in their marketing ecosystem. That includes session data and behavioral browsing data that is being tracked in real-time by Oracle Maxymiser, on top of CRM data, DMP audience segments, web analytics, social content, and purchase history—not to mention offline data that can be imported into the system.

Our insights solution is unique in the industry. Our proprietary algorithm tracks every action customers take on your site and maps these actions to their profile data. With this information, the algorithm automatically starts to segment your audience. The output is a report, Campaign Insights, that highlights new customer segments and their preferred content on your site. These insights indicate which customer segments can be targeted in future personalization campaigns to drive maximum uplift in conversions.

What Makes These Insights Unique?

  • Accurate and Predictive: With our new product release 16.2, the algorithms that power these insights have been updated to provide more robust and accurate segment discovery. This improved algorithm enables Oracle Maxymiser to automatically surface all customer segments that are available, giving marketers extensive and accurate information about their customers. This data can be used to predictively build smart, targeted campaigns, based on probable customer behavior.
  • Interactive and Granular: Our Campaign Insights have been redesigned and are now presented through an interactive, intuitive report that allows marketers to quickly uncover customer segments. Marketers can drill deep into the data to understand the preferences of micro-segments.
  • Automatic and Easy: Marketers will never need to manually work through all their data to understand where the profitable opportunities for testing and targeting exist. Campaign Insights does this for you, giving you customer insights fast and hassle-free.

Go here for more information about our predictive insights.

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