Optimove Releases Self-Optimizing Journeys
Optimove, a marketing technology provider, today released Self-Optimizing Journeys, an artificial intelligence-powered solution that autonomously determines the next-best-action for each individual customer.
Self-Optimizing Journeys can determine which communications to prioritize or which sequence of communications result in the best customer journeys, identify each campaigns for which customers are eligible, and evaluate all journey possibilities, response probabilities, and potential impact on customer lifetime value, to determine and serve the next-best-action for each customer.
"Self-Optimizing Journeys represent the first time marketers can stop worrying about manually plotting and prioritizing customer journeys to focus on what they do best—crafting personalized messages for each customer interaction," said Shai Frank, vice president of product at Optimove, in a statement. "With today's announcement, Optimove ensures individualized journeys that autonomously adapt based on each customer's characteristics and behaviors, effectively allowing customers to plot their own journey."
Optimove's Self-Optimizing Journeys had been available to 80 companies as a beta since late 2019. Companies invoilved in the pilot saw the following results compared to manually prioritized campaigns:
- 37.4 times higher uplift per customer;
- 46 percent increase in total uplift; and
- 450,454 weekly average autonomous decisions made.
"Optimove's Self-Optimizing Journeys help us make sure that our users always receive relevant and engaging campaigns," said Yoav Banai, vice president of customer engagement at Deezer, an online music streaming service, in a statement. "Since implementing it, we've seen higher engagement levels and better overall performance for our campaigns. At the same time, our team has been able to save time on campaign execution."
Marketers can select a subset of their campaigns or all of them to be orchestrated by the Self-Optimizing Journey algorithm. Eighty-eight percent of companies in the beta orchestrated more than half of their campaigns with Self-Optimizing Journeys.