Marketing Action Optimization Technology
Your Internet business likely cannot afford the teams of mathematicians, statisticians and super-analysts that large corporations hire to create and maintain the numerous complex models needed to accomplish marketing action optimization.
With Optimove’s unique technology, this power is now available to you!
You can now have a cutting-edge marketing action optimization solution that is automated, reasonably priced, easy to use and Web-based. Like the big boys, you will automatically identify the next best marketing action for every customer, every time!
Self-learning, Closed-loop Action Optimization Engine
Optimove’s technology is based on a repeatable, metrics-based methodology which predicts which marketing action will be most successful for each customer or group of similar customers.
The basis of the method is performing dynamic micro-segmentation of customers based on behavioral (and other) characteristics and being able to predict the future behavior of customers in response to different marketing actions. This predictive customer behavior modeling is calculated in terms of customer lifetime value in order to ensure the maximum long-term economic benefit of each marketing action. In other words, the next best marketing action for a particular customer is the one that most increases long-term revenue from the customer and not only a short-term spending uplift.
Each time a marketing action is run on a selection of customers, the selection is divided into a test group and a control group, and the results of the action (e.g., the number of customers who took advantage of an offer, how much they spent) are analyzed for each micro-segment represented by the selected customers. Sophisticated analysis, incorporating behavior prediction models and lifetime value calculations, can then determine the effectiveness of each marketing action for each micro-segment.
Implementing the method described above requires an efficient and integrated set of multi-disciplinary technologies, incorporating a wide range of scientific and mathematical algorithms. Even for someone knowledgeable in all the required disciplines, performing and frequently updating such an analysis manually (e.g., using Excel or standard BI tools) is practically impossible.
Optimove is a Web-based (SaaS) software product dedicated specifically to the mission of predicting which marketing action will be most effective for each micro-segment of customers. The product’s ground-breaking technology is the first to integrate all the necessary auto-segmentation, statistical and predictive models required to accurately calculate and predict customer behavior and customer lifetime value, along with the application framework to select target groups, interface with campaign management systems and measure marketing action results.