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Real-time Optimization and E-Commerce Personalization

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Real-time Optimization and E-Commerce Personalization

  1. 1. Real-time Optimization & Personalization E-Commerce Optimization Meetup Ori Lavie, VP Sales
  2. 2. Dynamic Yield Source: Dynamic Yield
  3. 3. Source: Real-Time for the Dynamic Yield Rest of Us, by Evergage
  4. 4. Dynamic Yield Source: Infosys
  5. 5. Source: 2013 Online Personal Dynamic Yield Experience Study, by Janrain
  6. 6. Source: 2013 Online Personal Dynamic Yield Experience Study, by Janrain
  7. 7. “If you could just stop marketing dresses to men, it would be amazing!” Dmitry Siegal, Urban Outfitters, 2012 Dynamic Yield
  8. 8. The power of personalization for consumers and marketers - a win-win situation Consumers Marketers say personalization influences purchasing decision favor personalization highly appreciate personalization based on past purchases Personalization is a game-changer! 86% 67% 58% believe personalization is important report increased ROI with personalization average sales uplift from personalization 79% 59% 19% Dynamic Yield
  9. 9. If marketers know personalization is important, why aren’t they using it? The Barriers IT roadblocks Requires staff resources for implementation Technical aspects make it difficult for marketer Different solutions for different needs; messy integration Dynamic Yield
  10. 10. Dynamic Yield
  11. 11. What is Web Personalization? Web personalization means customizing a website’s content and information for the user according to that user’s interests, preferences and behavior. It’s basically entering a website and seeing that its content is relevant to you, while other visitors have a different experience that is tailored to them. Dynamic Yield
  12. 12. 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. Dynamic Yield
  13. 13. Why do you need personalization? • Your visitors are diverse • There are different stages in the customer life cycle • The same content cannot fit all • It’s an opportunity to make the most out of every visitor Awareness Consideration Purchase Retention Dynamic Yield
  14. 14. 14 Personalization Data Types • Demographics – Age, gender, income, occupation, geo & more • Interests – Sports, politics, trip to Paris • Intent – In the market for… • Behavioral – Heavy buyer, frequent visitor, registered Dynamic Yield
  15. 15. 15 Personalization Data Sources Third-party Data Providers Marketing Automation CRM First-time Visitor ✓ Limited ✖ Returning Visitor ✓ ✓ ✖ Registered User / Buyer ✓ ✓ ✓ Dynamic Yield
  16. 16. The 3 Ws of Website Personalization Dynamic Yield
  17. 17. How does real-time personalization work? Identifying the visitor’s attributes Customizing the user experience • Geo-location • Buying history • Goals • Time spent • Loyalty • Traffic sources • Gender • Organization • Content • User experience • Calls-to-action • Images • Videos • Product offers • Advertisements (off site/on site) • Mobile content The key is making it happen in real time! Dynamic Yield
  18. 18. First, Know Your Stuff Dynamic Yield
  19. 19. The Space Machine learning classifier: Random Forest Dynamic Yield
  20. 20. Remember: Pixels = $ Dynamic Yield
  21. 21. Unregistered for Newsletter Registered for Newsletter
  22. 22. 22 First-time Visitor Interested in Furniture Dynamic Yield
  23. 23. 23 Dynamic Yield
  24. 24. 24 Dynamic Yield
  25. 25. New visitor spent more than 30 seconds on page Returning visitor that previously browsed at least three dresses Dynamic Yield
  26. 26. Change the product display on the Web page in each category based on historic preferences Sort by new arrivals Sort by popularity Sort by price Dynamic Yield
  27. 27. Previously on your site Clicked this offer, but didn’t make a purchase Offer + discount delivered on external website 20% OFF after 24 hours Dynamic Yield
  28. 28. When does Personalization stop being fun and start getting creepy? 28
  29. 29. How does classic A/B testing work? Challenger (variation) Original (control) 50% of visitors get the red version the result: 20 signups 50% of visitors get the blue version the result: 52 signups winner! Winning variation distributed to 100% of visitors, all the time.
  30. 30. Real-time optimization? Challenger (variation) Original (control) Blue version performs better for most users Red version performs better for some users Personalize the choice of variation to each visitor.
  31. 31. Optimization Life Cycle Dynamic Yield
  32. 32. Thank You Ori Lavie, VP Sales

Editor's Notes

  • 57% - are ok with providing personal information on a website as long as it’s for their own benefit and being used in responsible ways

    Source: Harris Interactive