Optimove Launches Optibot, the First CRM Optimization Bot
Optimove, the leading Customer Marketing Cloud, announced today Optibot, the marketing industry’s first CRM optimization bot. Optibot uses Artificial Intelligence and machine learning to automate the analysis and interpretation of customer marketing campaigns behind the scenes and recommend actionable marketing insights to help marketers increase campaign performance. The new technology is being rolled out to all Optimove clients, including 1-800-FLOWERS, Zynga, BetAmerica, eBags, AdoreMe and LuckyVitamin.
Optibot is integrated within the Optimove platform, which enables marketers to manage and automate multi-channel customer marketing plans based on predictive micro-segmentation technology. Optibot continuously scans a brand’s customer models and campaign calendar in order to discover actionable insights hiding in the data that can be used to optimize marketing activities. For example, Optibot can provide recommendations for marketing actions such as:
- Drop underperforming actions: When one campaign action is clearly losing to others, Optibot will recommend dropping the underperforming action and readjusting the existing actions.
- Switch to self-optimizing campaign: Once enough data has been collected on a certain campaign, Optibot will recommend turning on its self-optimizing feature to automatically decide the correct customer mix for each campaign action.
- Focus your target group: In cases where only a sub-segment reacts well to a campaign, Optibot will recommend to split the campaign and create another action for the underperforming segments.
- Treat neglected customers: Optibot will point to the target groups or specific segments that are not getting the best treatment in the marketing plan.
- Uplift measurement: Optibot will make sure that all campaigns are scientifically measured for uplift by recommending the marketer adds a control group or enlarges its size in order to measure the exact campaign impact.
Optibot’s machine learning technology applies advanced probability-theory algorithms (such as the Multi-Armed Bandit problem, Boltzmann distributions and Exploration/Exploitation trade-offs) to find critical insights hiding within customer big data. Optibot can then apply its conclusions to automatically optimize marketing campaigns.
We built Optibot to help marketers maximize the impact of their efforts faster and more easily,” said Optimove founder and CEO, Pini Yakuel. “Marketers struggle with an overwhelming amount of data, making it harder than ever to leverage that data to actually move the needle in key customer metrics such as spend, engagement and loyalty. Optibot takes the guesswork out of analytics, targeting and personalization, automatically applying data-driven campaign optimization techniques, leaving marketers with more time to focus on the creative side of their craft.”
The Optimove platform helps marketers maximize customer engagement, loyalty and lifetime value by automatically personalizing, executing and evaluating a complete framework of customer data-driven campaigns. Optimove delivers highly-personalized, multi-channel campaigns via the Web, email, SMS, push notifications, Facebook Custom Audiences, Google’s DoubleClick ad network and other channels. By allowing marketers to imagine, design and execute both pre-scheduled and real-time (customer activity-triggered) campaigns, Optimove makes it easy to deliver the most effective messaging to every customer, thus increasing customer engagement, spend and loyalty.
The Optibot launch comes two weeks after the company announced its first-ever funding round, raising $20 million in growth funding from Israel Growth Partners, a private equity investment firm that focuses on late-stage startup investments.
Used by more than 200 brands, Optimove’s Customer Marketing Cloud currently sends more than 4 billion targeted, personalized messages to over 900 million customers every year through email, Facebook, Google Ads, SMS, push notifications and other channels. Optimove currently employs more than 100 employees in offices in New York, London and Tel Aviv.
Optimove’s Customer Marketing Cloud is used by over 200 customer-centric brands to drive their entire customer marketing operation. Optimove combines the art of marketing with the science of data to enable marketers to deliver highly-effective personalized customer marketing campaigns across multiple channels. Optimove’s unique customer modeling, predictive micro-segmentation and campaign automation technologies help marketers maximize customer spend, engagement, retention and lifetime value. The company has offices in New York, London and Tel Aviv. Learn more at www.optimove.com.