AgilOne Updates Predictive Marketing Cloud
AgilOne, a predictive marketing cloud platform vendor, has expanded its offerings with more intelligent data processing and action recommendation tools. The new solutions promise to help retailers better understand past customer behaviors to predict future activity and inform campaign strategies. With machine learning at its core, AgilOne's revamped marketing cloud gives users a "better way to use the data they already have," Dominique Levin, AgilOne's CMO, says.
One of the newly added features is Revenue Finder, which uses predictive analytics to generate reports on customer engagement opportunities. The reports help retailers get a handle on what Levin calls the "one and done problem," which refers to customers that only buy from a certain brand once, never to return. Roughly 70 to 80 percent of customers make a single purchase without coming back, but letting these leads go is a big mistake for retailers, according to Levin. Because customers that have already expressed an interest in the brand are more likely to convert than entirely new customers, this segment is rich with potential.
"This is a major part of the data problem," Levin says. "Marketers find it frustrating that there are all these missed opportunities hidden in the data, and they can't zero in on it or use it without really digging into the data science of it all. They need a way to understand it and run campaigns against it," she adds.
Once the revenue reports provide marketers with relevant customer data, such as cart abandonment insight or information on customers who have already made a purchase but haven't returned to the Web site, AgilOne's other new feature, Turnkey Actions, kicks in. Together with the revenue reports, the Turnkey Actions tool allows marketers to link online and offline data to make it recognizable, apply AgilOne's predictive algorithms to the data, and suggest subsequent campaign actions. For example, if the Revenue Finder identifies an abandoned cart, the Turnkey Action tool may recommend that marketers send a follow-up email with a promotional offer or discount to the customer.
"We know that companies could probably hire consultants or data scientists to analyze their data and give them similar insight, but our solution is all about making it something that marketers can do themselves. We want to empower them to find the opportunities themselves because they understand the business," Levin explains.
AgilOne has also strengthened its predictive analytics capabilities with Likelihood to Buy Predictions for prospects that haven't yet bought anything from the brand. The self-learning predictive engine uses past consumer engagement data to calculate the chances that potential buyers will eventually become customers.
The solution integrates with most large email marketing vendors, including Salesforce ExactTarget, Oracle Responsys, Silverpop(IBM), Marketo, Mad Mimi, and others. "Users should think of AgilOne as the brain that powers their marketing brawn," Levin says. "A deeper understanding of customer data is key for the level of personalization that customers expect from marketers and brands today, and the AgilOne predictive marketing cloud provides it," she adds.
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