Artificial Intelligence (AI) is something most marketers want to use, but it’s not always that easy. Building your own predictive capabilities is time consuming and requires you to ingest, standardize, and analyze data from various end points owned by numerous teams. Testing and creating new data science forecasts is hard, expensive, and time consuming, even if you have access to a data science team.
At Iterable we are focused on putting advanced AI capabilities into the hands of marketers with easy to use tools that are customized based on your data and actionable to drive results. Our goal is to enable brands to understand customer behaviors in the context of their business at the user level. But, how do we predict what people need and anticipate the right interactions to improve their experience and drive our business forward?
Iterable’s new AI Optimization Suite is designed to make it easier for you to pick what actions and business outcomes you want to predict based on your own data and use case. Rather than just a few pre-built, out-of-the-box forecasts, we’ve put the full power of data science in your hands with a glass-box tool that helps you see what behaviors drive the prediction. With Iterable’s AI Optimization Suite, you can understand what actions drive results and build better, individualized communications to support those activities.
Let’s take a look at our newest features in AI and beyond, how you can make the most of them, and what this means for the future of marketing.
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Iterable’s All New AI Optimization Suite
Let’s start with a common use case. An online retailer is looking to drive incremental purchases and increase lifetime value. They’ve recently launched a new handbag line and want to understand who is most likely to complete a purchase.
Using Iterable’s newest AI product, Predictive Goals, the team can use a custom event to build a list of users most likely to purchase a tote within the next 30 days. When their prediction is ready, they can select the highest propensity users to enter a Handbag Journey that includes specialized cross-channel messaging introducing the handbag line and encouraging purchases.
Predictive Goals gives brands the most versatile and intelligent way to gain new insights and develop smarter individualization strategies. Here is where marketers can get creative in their customizations. The “goals” part of Predictive Goals is entirely based on your team’s needs.
Once you set the goals specific to your business—based on any stored custom event, system event, or user profile field—Predictive Goals builds a forecast of how likely customers are to convert on their goals. These results then empower marketers to create more customized, intelligent customer segments and tailor messaging based on conversion-maximizing analyses.
Predictive Goals stands out in its ability to be built for you as you need it. We recognize your use case is different from other marketers, so your AI suite should be able to adapt in kind. Predictive Goals does just that.
Within the Predictive Goals product, we have an exciting new feature called Explainable AI, which allows marketers to explore more closely exactly which data points contributed to the forecasts made by Predictive Goals. Think of Explainable AI as the chance to look under the hood at the nuts and bolts of Predictive Goals forecasts.
We’ll use a productivity app in this example. This app is looking to drive revenue by moving users from Pro to their Enterprise level subscription. The team uses Predictive Goals to build a list of users most likely to upgrade within the next 90 days.
With Explainable AI, they are able to identify the attributes that contribute to a high propensity for upgrading to Enterprise. Here, the insights show dashboard views into likely indicators for increasing the goal outcome of subscription upgrades.
From there, the team can trigger an Enterprise upsell campaign to all current Plus and Pro customers to encourage an upgrade.
More visibility is always good when it comes to your data, especially when it comes to AI, and Explainable AI lays it all on the table. With Explainable AI, you are able to fine tune exactly what data points and attributes can make the most difference in your individualization efforts, gaining even more valuable insights to inform future campaigns.
Brand Affinity™ and Send Time Optimization
Rounding out our AI Optimization Suite are Brand Affinity and Send Time Optimization (STO). Brand Affinity helps marketers understand their customers at the emotional level through sentiment. By understanding sentiment, marketers can more easily tap into customer LTV, increase conversions, and individualize content based on how the customer is feeling towards your brand.
STO is yet another way to customize the experience for your customers. Whether it’s time of day or frequency of communications, when you send your messages can make or break a relationship with a customer. STO dives into behavioral data of each customer to provide individualized recommendations for the best times to interact with them. Keeping a customer’s attention is difficult in today’s landscape, STO improves your chances at scale.
Chat about this in person with us at Activate! Register for Activate today!
What Else is New
Our AI Optimization Suite will change the way you adopt AI into your marketing strategies, but this is not the only thing we’re releasing to help you individualize experiences, automate journeys, and deepen your relationships with customers. Here’s a look at what else is coming this summer:
Individualized Experiences at Scale
Iterable’s Studio has undergone enhancements that provide more efficiency in building and automating journeys.
- Tilesets enables you to save and reuse select parts of your journeys to use across other journeys.
- Our new template experience makes it easier to quickly create personalized content, easily toggling between design and preview for faster editing.
- And our Exit Rules feature makes it easier to ensure recipients are only in journeys that resonate to them
Now, making individualized, dynamic experiences that are effective across channels becomes quicker and easier.
Optimize Results With Audience Insights
We all want to make the most of our data. Audience Insights, one of our new features, provides actionable data at the cohort level to plan and deploy campaigns with engagement and demographic insights. With Audience Insights, marketers can validate and refine messages being delivered to target audiences and maximize relevance and ROI.
Demographic data can make an experience feel much more individualized. For streaming apps, for example, this can be hugely beneficial to gain insights into engagement. Often with streaming apps, you’ll see a “What to Watch” campaign. If that campaign is declining in performance, the team could use Audience Insights to see which segments are less engaged.
With this level of granular insight, marketing teams can optimize campaign performance at the individual level to provide relevant recommendations and content at scale.
Maximize Your Mobile Data
Our summer mobile enhancements capture more data from mobile devices and ensure that data is used in new ways to customize your sends.
- Offline events processing enables you to capture users’ mobile event data anytime, anywhere.
- In-app Recall offers flexibility to recall all sent messages from an in-app campaign in real time.
- And quiet hours allows you to stop campaigns from sending during certain windows of time.
With these enhancements, you can ensure the right message is going to the right person at the right time via mobile channels. By gaining access to previously unseen behavioral data when users are offline, recalling in-app campaigns without tech support, and delaying campaign sends based on regulatory and user preferences, your mobile marketing will take the next step in being fine-tuned to the individual user, their preferences, and how your team can best serve them.
An Evolving Transformation
Our summer release of products and feature enhancements is designed to accelerate your ability to customize and individualize customer experiences. Marketers are facing growing pressure from customers and the market at large to keep getting more and more granular in their segmentation.
With our AI Optimization Suite and the other feature enhancements above, marketers are one step closer to bringing individualized experiences at scale with greater and greater efficiency. Transformations can be challenging, but with these products, it becomes a lot easier.
Curious to learn more about our summer release, join our Product team in person for the Product Keynote and Showcase at Activate Summit North America where they’ll dive deep into the above and so much more.