Bluecore Introduces Audience Insights
Bluecore today released Audience Insights, a dashboard for behavioral- and product-based insights for any audience segment, allowing marketers to visualize how particular segments are predicted to engage and convert, and then develop campaigns and strategies to maximize results.
Audience Insights helps marketers and digital and customer retention teams observe trends and opportunities within specific consumer audiences. These observations are made possible through a patent-pending integration technology that ingests both customer and catalog data to deliver retail-specific insights. This real-time understanding of customer activity and catalog changes gives marketers insights, such as products that convert at the highest rate, products that are the highest revenue drivers for a given segment, or hidden gem products that present the most opportunity for new incremental revenue.
With Audience Insights, marketing leaders can learn how their most valuable customer segments are performing relative to other customer groups, and how their campaigns fare with those audiences. Marketers can analyze this data week over week and plan marketing strategies against specific segments of their customer bases.
The Audience Insights dashboard answers questions like:
- What is the value of this audience? A look at the percent of overall revenue, average order value, average number of products per order, average lifetime value, and average predicted lifetime value;
- What is the health of this audience? A breakdown of lost, active, and at-risk customers;
- Where can I contact this audience? Details on how many customers in a particular audience can be reached in a given channel, such as email, social, display, or onsite;
- How is this audience engaging with products? Showcases "Rockstars," "Cash Cows," and "Hidden Gems" products;
- How is this audience engaging with my site? A look at event trends, site conversion funnel, and site events comparisons;
- How is this audience engaging with my emails? A detailed view of delivered, opened, and clicked emails, as well as unsubscribes based on individual audience segments; and
- Who are the most interesting customers? An anonymous look at individual consumers broken down by top spenders, top browsers, and highest potential.
"While digital marketing and CRM teams have access to a wealth of consumer, catalog, and commerce data, the process of extracting meaningful insights from any of them remains cumbersome and cost-prohibitive," said Fayez Mohamood, CEO and co-founder of Bluecore, in a statement. "The foundation of a decisioning platform solves for this by quickly ingesting these massive data sets and generating comprehensive insights in a matter of minutes. Analysis like this would typically require additional manpower, another third-party solution and days, if not weeks, of data analysis. Empowering marketers through tools like Audience Insights is crucial for retailers who want to be successful in this competitive marketplace."
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