Self-Optimizing Journeys maximize customer lifetime value by autonomously determining and serving the next-best-action for each individual customer
Optimove, the Science-First Relationship Marketing Hub, announced the general availability of its Self-Optimizing Journeys, an AI-powered solution that autonomously determines the next-best-action for each individual customer.
With Self-Optimizing Journeys, marketers no longer face the burdensome task of determining which communications to prioritize or which sequence of communications result in the best customer journey. Self-Optimizing Journeys identify all the campaigns each customer is eligible for 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.
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“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, VP Product at Optimove. “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 released to over 80 companies as a Beta since Q4, 2019. The following are results from the Self-Optimizing Journeys Beta:
- 37.4x higher uplift per customer, compared to manually prioritized campaigns
- 46% increase in total uplift, compared to manually prioritized campaigns
- 55% of Beta users showed high adoption rates and orchestrated over 30% of their campaigns with Self-Optimizing Journeys
- 450,454 weekly average autonomous decisions made
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“Optimove’s Self-Optimizing Journeys help us make sure that our users always receive relevant and engaging campaigns,” said Yoav Banai, VP Customer Engagement at Deezer, the global online music streaming service. “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 either select a subset of their campaigns, or all of them to be orchestrated by the Self-Optimizing Journey algorithm. 88% of companies who took part of the Beta, orchestrated over 50% of their campaigns with Self-Optimizing Journeys, whilst the rest were manually prioritized.
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