Introducing Optimove 6.0: Bringing Customer Retention AI to Acquisition Marketing
With the help of Optimove 6.0 - CRM that covers the full customer lifecycle stage from the first website visit, conversion rates are expected to increase by 25%Posted in Customer Retention, Data Analysis, Company News on 2 November 2017 by:
Optimove announced this week the release of Optimove 6.0, its latest product version, introducing a new customer lifecycle stage: the visitor. Users can now automate targeted marketing campaigns for new visitors as precisely as they can for customers who have already made a purchase.
98% of people who visit a website never make a purchase. That means in today’s ultra-competitive online retail market, marketers are spending valuable dollars following consumers around the internet and retargeting them with ads for items they will never buy.
Optimove 6.0 brings together web analytics from new visitors with look-alike data, machine learning and artificial intelligence from its retention ecosystem to accurately predict a customer’s future spend before they make a purchase. Based on its predictions, Optimove segments site-viewers into micro categories and provides insights on which campaigns will be most likely to lead to conversion. Rather than go after everyone that visits their site, Marketers can use Optimove’s findings and automation tool, Optibot, to precisely target only those in the 98% that are most likely to eventually convert.
"We’ve been highly focused on applying a scientific approach to relationship marketing, but realized that relationships start long before someone presses the buy button”, said Pini Yakuel, co-founder and CEO of Optimove. “Most acquisition marketers are focused on bringing in as many leads as possible and then parsing from there. With Optimove 6.0 we are flipping the funnel — taking post-purchase data and knowledge and utilizing it for smarter acquisition”.
Optimove’s new release closes the gap between the often isolated acquisition and retention teams, whose opposing goals of lowering cost per acquisition and achieving long term customers tend to clash. Unifying these functions reduces conflicts of interest between teams and eliminates the data loss that occurs when moving from one CRM to another.
With this release, Optimove is officially transitioning from a customer marketing platform to a relationship marketing platform — with that relationship starting with the first website visit, or even before. The company predicts that after integrating the two lifecycle tools into a single CRM, marketers will see an average of 25% lift in conversion rates.
The new product was announced this week at Optimove Connect. Named one of the Hottest Global Marketing Conferences Across the Globe, the company’s annual relationship marketing conference brought together marketers from some of the world’s most high-profile companies, including GoDaddy, Deezer, Adore Me and Lucky Vitamin. This release also comes on the heels of Optimove being named in Gartner’s Magic Quadrant for Digital Marketing Analytics.