Ori Lavie - Dynamic Yield (All Things Data 2015)

How to Deliver

Powerful Personalized Experiences Ori Lavie, SVP Sales

April 2015

Agenda •  Who Are We? •  First Step •  Data Collection •  Visitor Segmentation •  Real Personalization •  Automated Optimization •  Questions

How to Deliver Powerful Personalized Experiences

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.



First Step

Plan and orchestrate your strategy


Data Collection

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


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


Visitor Segmentation

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


A 4-Step Visitor Segmentation Cycle


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


Segmentation Example

Let’s have another look at the data:



But why stop there?!



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.


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


Real Personalization

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.


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.


Segmentation is NOT Personalization


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

Third Party Data Providers

Marke2ng Automa2on

CRM

First Time Visitor ✓ Limited ✖

Returning Visitor ✓ ✓ ✖

Registered User / Buyer

✓ ✓ ✓

Data Sources

The Progression to Ultimate Personalization

Gartner's Market Guide for Digital Personalization Engines, 7 April 2015

Automated Optimization

Take the Bandit Approach


Choose the Right Objective


Create an Awesome Optimization Plan


Thank You

Ori Lavie, SVP Sales [email protected]

Thank You

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Examples

First, know your stuff!

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

Remember: Pixels = $

New visitor spent over 30 sec on page Returning visitor that previously browsed at least 3 dresses

Dynamic Yield

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

Marketing

Ori Lavie - Dynamic Yield (All Things Data 2015)