Jetlore Adds Content Performance Analytics Tools to its Prediction Platform
Jetlore today upgraded its AI-driven prediction platform with the addition of the Content Performance reporting suite, a set of tools designed to give online B2C sellers access to actionable data on their customers’ preferences for products, catalogs, and promotions.
According to Eldar Sadikov, Jetlore's cofounder and CEO, the tools enhance the software vendor's Predictive Layouts product—a content solution for web, email, and mobile experiences. "In e-commerce, every click, search, and browse event provides insight into consumer behavior that until now was only tracked as raw data in a log,” Sadikov said in a statement. "Jetlore actually maps consumer behavior to structured predictive attributes—building a unique, holistic profile of each customer."
Using Jetlore’s Content Performance reporting suite, online retailers can gain insights into various key performance indicators (KPIs), including page views, click-throughs, and open and conversion rates. Depending on what metric the end user has chosen to look at, the system is then able to list the 50 most valuable items in the online retailer's catalog to use for a specific marketing campaign or time frame. With the technology, companies can also access detailed reports that dig deeper into other areas, including product, promotion, and catalog performances by region.
According to Sadikov, who corresponded with CRM magazine via email last month, Jetlore’s mission is to help B2C companies address some of their top challenges, ones they have not yet been able to solve using available CRM technologies. While "traditional" B2B CRM systems allow sales reps to enter data into structured fields and learn about their prospects' life cycles, segments, and tendencies, the process hasn't been as easy for companies who are dealing with a significantly larger number of individual customers, and who tend to make much smaller transactions. Most of the "mainstream technologies" available to such companies, Sadikov says, are able to collect individual user information but do not help them make predictions about what they are likely to need or buy in the future. And, because they fail to do this, "they provide no benefit to in-store customer service, call centers, or merchandizing teams."
Sadikov says that another shortcoming of the CRM systems widely available to B2C marketers is that they require them to reason in terms of individual user actions and create segments and business rules around them. "Rule-driven approaches like these require a great deal of manual work from marketers to optimize and maintain, and [they] have a very steep performance cliff," he states. These methods require that data analysts know and manually define which user actions they want to target. Jetlore's AI infers structured attributes across a user's historical actions, thus greatly reducing the amount of manual work required of retailers, while increasing productivity, since the primary input is structured user preferences, not individual user actions. "This makes Jetlore's technology much more accurate and relevant to customer needs."
Companies using Jetlore's offerings have seen impressive results across a number of important KPIs, Sadikov says. Chief among these is email attributed revenue, where companies tend to see a 20 to 60 percent increase. Evino, a Brazilian wine retailer, "saw a 79 percent revenue increase in their promotional email campaigns," Sadikov said. eBay has seen a 68 percent increase in the revenue generated per opened email.
In a statement, Ollie Miles, global head of CRM for Secret Escapes, a British travel company, was enthusiastic about today's enhancements to the platform:
"Jetlore's new content performance reporting suite makes it easier than ever to access the clicks-per-impression (CPI) data we need to guide our business. Email is how we monetize our audience. We need to be able to determine the effectiveness of every deal in every email, which is hard when the majority of your emails are totally personalized. The Jetlore Content Performance reporting suite provides the in-depth visibility into email opens, click-throughs, conversion rates and more that our trading teams need for analysis and quality iteration. Jetlore recording all that data makes it easy."
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