Frequently Asked Questions

  • What is Optimove?

    Optimove is a retention automation platform powered by predictive micro-segmentation technology. Marketers use Optimove to manage and automate their entire cross-channel customer marketing plan. By automatically personalizing, executing and evaluating a complete system of customer-data-driven campaigns, the software enables marketers to maximize revenues and customer lifetime value.

  • Is Optimove a product or a service?

    Optimove is a software-as-a-service (SaaS) application delivered via the Web.

  • What level of expertise do I need to use Optimove?

    Optimove was designed for use by savvy marketers and retention experts. While experienced analysts will appreciate the power and simplicity that Optimove delivers, the software was designed primarily for business users.

  • What kinds of businesses use Optimove?

    Optimove was designed primarily for online companies, such as Internet gaming, e-commerce and online services (such as financial services, telephony, SaaS applications, etc.). However, other types of companies can (and do) use Optimove to optimize marketing and customer retention efforts.

  • How does Optimove help me convert more customers?

    Non-paying users (e.g., players, subscribers, free-trial customers) present the greatest revenue opportunity to a company. The challenge, of course, is to take the marketing action (e.g., sending an offer or incentive) that will result in the conversion of non-paying user to paying customers. Optimove’s advanced technologies (including Continual Dynamic Micro-segmentation, Predictive Behavior Modeling and Customer Lifetime Value Forecasting) can accurately predict which marketing actions will have the greatest conversion impact on each user at a particular point in time. By utilizing these predictions, marketers enjoy unprecedented improvements in conversion rates.

  • How does Optimove help me increase customer spend?

    Optimove helps marketers select the best marketing actions for each group of customers (and even individual customers, when necessary) to maximize the frequency and/or amount of money they spend. For example, Optimove will identify the discounts, offers or incentives which will cause customers to spend more money on the site. Optimove can also predict the marketing actions most likely to “bump” regular customers into “big spender” customer groups. And because Optimove focuses on customer lifetime value, the software will not recommend actions for short-term gain at the expense of longer-term revenues.

  • How does Optimove help me reduce churn?

    A certain percentage of paying customers will always abandon your site, never to return. While Optimove can’t prevent this from occurring, the software can identify customers who are on their way out and then suggest the particular marketing actions with the greatest chances of retaining those customers. Optimove can also suggest marketing actions earlier on in the customer lifecycle which will increase customer loyalty, extend their engagement with your business and reduce the chances that they will abandon you.

  • Is Optimove a rule-based system?

    No. The software places customers into segments and micro-segments based on their behavior patterns, not on any preconceived rules or assumptions. This segmentation process is ongoing; much of the system’s predictive accuracy can be attributed to the software’s ability to track the movements of customers from one micro-segment to another over time.

  • How can Optimove predict the next best action for every customer?

    Optimove excels at dynamically segmenting customers in micro-segments based on their behavior, at tracking their movements among micro-segments over time and forecasting the future customer lifetime value of each customer. Based on this deep current analytical data, and success rate analysis of historical marketing actions, the software is able to predict which marketing actions will be most effective for each individual customer and customer group.

  • How does Optimove perform customer segmentation?

    Optimove uses sophisticated algorithms developed from the domains of cluster analysis and decision theory. Every piece of available information with potential marketing value is incorporated into the segmentation process, within a hierarchical data structure, including lifecycle stages (e.g., new, active, risk of churn), behavior patterns, demographics, source of initial arrival and micro-segment prototypes.

  • How does Optimove calculate customer lifetime value?

    Without revealing too much about the “secret sauce” of Optimove’s customer LTV forecasting technology, the approach combines continual dynamic micro-segmentation and a unique, mathematically-intensive predictive behavior modeling system. The former intelligently and automatically segments the entire customer base into a hierarchical structure of ever-smaller behavioral-demographic segments. This segmentation is dynamic and updated continually based on changes in the data. The latter is based on the fact that the behavior patterns of individual customers frequently change.By merging the most exacting micro-segmentation available anywhere with a deep understanding of how customers move from one micro-segment to another over time – including theability to predict those moves before they occur – an unprecedented degree of accuracy in customer LTV forecasting is attainable.

  • How long does it take to start seeing actionable results?

    If the business has already accumulated relevant data on the performance of prior marketing actions (such as the marketing actions executed and the list of customers treated with each), Optimove can begin delivering actionable recommendations immediately after implementation. Otherwise, Optimove’s structured and systematic marketing action planning/tracking environment will begin accumulating data on marketing actions and their results. The system can begin making recommendations with weeks or months, depending on the frequency of marketing actions and the number of customers in the target groups.

  • How does Optimove access my data?

    Typically, Optimove will access your customer data via API or Web services. Custom database integration is available when required. On-premises deployment is available when required.

  • How does Optimove integrate with my marketing and campaign management systems?

    Optimove pushes the list of individual customers (usually, customer IDs) who will receive each marketing action you are running, either via API to your marketing system or via manual export/import of CSV files.

  • What do I need to do to get started with Optimove?

    A brief initial conversation with one of our analysts will usually provide the essential information we need to get you started, e.g., the nature of your business and a review of your data structures. Then, we will use Optimove to access your customer data (via API, Web services or a manual integration process) and get your framework set up for use. Your team will then participate in a single training session (over the Web) and get started optimizing their marketing actions!

  • How much does Optimove cost?

    Optimove is priced using a monthly subscription model, typically a few thousand dollars per month. Pricing tiers are based on the number of separate customer networks you operate and the number of paying customers in each database.

 

 

Request Web Demo

iFXEXPO 2013

 

Receive our Newsletter
Get Blog Updates by Email!
* = required field

We are committed to protecting your privacy, and will never share your data without your explicit permission. For more information, please review our privacy policy.