Marketing hub Optimove has unveiled the general availability of its Self-Optimizing Journeys, an AI-powered solution that has been designed to autonomously determine the next-best-action for each individual customer.
Via the solution, the group asserts that marketers no longer face the task of determining which communications to prioritise or which sequence of communications result in the best customer journey.
Self-Optimizing Journeys identify all the campaigns each customer is eligible for and evaluates all journey possibilities, response probabilities, and potential impact on customer lifetime value, to determine and serve the next-best-action for each customer.
“Self-Optimizing Journeys represent the first time marketers can stop worrying about manually plotting and prioritising customer journeys to focus on what they do best—crafting personalised messages for each customer interaction,” explained Shai Frank, VP of product at Optimove.
“With today’s announcement, Optimove ensures individualised journeys that autonomously adapt based on each customer’s characteristics and behaviours, effectively allowing customers to ‘plot their own journey’.”
Having been released to in excess of 80 organisations as a beta since the fourth quarter of last year, Optimove has produced a series of results based on the testing phase.
These include 37.4x higher uplift per customer, 46 per cent increase in total uplift, 55 per cent of beta users showing higher adoption rates and 450,454 weekly average autonomous decisions being made.
“Optimove’s Self-Optimizing Journeys help us make sure that our users always receive relevant and engaging campaigns,” said Yoav Banai, VP of 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 per cent of companies who took part in the beta set over 50 per cent of their campaigns with the solution, whilst the rest were manually prioritised.
