Ori Lavie - Dynamic Yield (All Things Data 2015)
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eCommerce Personalization and Segmentation
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Ori Lavie - Dynamic Yield (All Things Data 2015)
- 1. How to Deliver Powerful Personalized Experiences Ori Lavie, SVP Sales April 2015
- 2. Agenda • Who Are We? • First Step • Data Collection • Visitor Segmentation • Real Personalization • Automated Optimization • Questions How to Deliver Powerful Personalized Experiences
- 3. Who Are We? Dynamic Yield is a SaaS-based solution for real-time personalization and automated conversion optimization. We leverage automation and advanced machine learning to provide personalized user experiences, tailored for individual users. How to Deliver Powerful Personalized Experiences
- 4. How to Deliver Powerful Personalized Experiences First Step Plan and orchestrate your strategy
- 5. How to Deliver Powerful Personalized Experiences
- 7. Getting Web Analytics Right • Ensure a high level of confidence in the data • Focus on trends • Don't assume anything you can’t prove • Storytelling means everything to your data • Focus on actionable insights How to Deliver Powerful Personalized Experiences
- 8. Signs You’re Doing Web Analytics All Wrong • Accepting your data at face value • Not focusing on meaningful metrics • Focusing on absolute numbers instead of trends • Assuming arbitrary correlation between data sets • Ignoring segments • Getting seduced by vanity metrics • Forgetting your data tells a story • Not visualizing actionable insights • Ignoring statistical significance How to Deliver Powerful Personalized Experiences
- 10. Segmenting Your Data • Develop a customer centricity approach • Differentiate between behaviors and intent of visitor groups • Uncover the truths behind the numbers • See “what” and “who” is driving the end-result • Act accordingly How to Deliver Powerful Personalized Experiences
- 11. A 4-Step Visitor Segmentation Cycle How to Deliver Powerful Personalized Experiences
- 12. For instance, let’s say we’re looking at a report for the last 7 days with the following metrics: • Unique users: 13,020,403 • Revenue impact: $260,408 • Average revenue per user: $0.02 How to Deliver Powerful Personalized Experiences Segmentation Example
- 13. Let’s have another look at the data: How to Deliver Powerful Personalized Experiences Segmentation Example
- 14. But why stop there?! How to Deliver Powerful Personalized Experiences Segmentation Example
- 15. Persona-based Segments eCommerce personas: 1. Product-focused shoppers – Highly-focused, goal-driven shoppers. 2. Browsers – Leisurely shoppers who are killing time. 3. Researchers – Highly motivated, looking to learn about a specific product. 4. Bargain hunters – Customers who are on the lookout for the best deals. 5. One-time shoppers – Customers who are not entirely familiar with your site. How to Deliver Powerful Personalized Experiences
- 16. Advanced Ways to Group Visitors into Segments • Revenue impact • Engagement or action taken • Type of content consumed • Visitors with past conversions vs. no conversions • Session count / Depth of visit • Visitors with cart abandonments • Customer intent How to Deliver Powerful Personalized Experiences
- 18. Effective one-to-one personalization can only be achieved if you have the right data, if you know who your audience is and what your most valuable segments are. How to Deliver Powerful Personalized Experiences
- 19. The Benefits of Personalization Personalization increases user engagement Show users what they’re looking for and they’ll be more likely to take action. Personalization increases conversions If more users engage with your website, your conversions will be higher. Personalization keeps your website fresh Returning to a website and seeing the same offers will not keep users coming back. How to Deliver Powerful Personalized Experiences
- 20. Segmentation is NOT Personalization How to Deliver Powerful Personalized Experiences
- 21. Demographics Age, gender, income, occupation, geo Interests Sports, cars, politics, Caribbean holidays Intent In the market for… Behavioral iPhone user, frequent visitor, registered Personalization Data Types
- 22. Third Party Data Providers Marke2ng Automa2on CRM First Time Visitor ✓ Limited ✖ Returning Visitor ✓ ✓ ✖ Registered User / Buyer ✓ ✓ ✓ Data Sources
- 23. The Progression to Ultimate Personalization Gartner's Market Guide for Digital Personalization Engines, 7 April 2015
- 25. Take the Bandit Approach How to Deliver Powerful Personalized Experiences
- 26. Choose the Right Objective How to Deliver Powerful Personalized Experiences
- 27. Create an Awesome Optimization Plan How to Deliver Powerful Personalized Experiences
- 28. Thank You Ori Lavie, SVP Sales Ori@DynamicYield.com
- 29. Thank You 29 Examples First, know your stuff!
- 30. Thank You 30 Homepage shaping First time visitor from NY, directed from an ad in a fashion website Female, 32 years old, previously bought from the elegant range
- 32. New visitor spent over 30 sec on pageReturning visitor that previously browsed at least 3 dresses Dynamic Yield
- 33. Change the product display on the web page in each category, based on historic preference Sort by new arrivals Sort by popularity Sort by price Dynamic Yield