Conversion optimisation company Yieldify has launched a new business insight product, Predict and Convert.
The tool uses data from over 25,000 Yieldify campaigns and 4.5 billion user interactions to identify an opportunity for an onsite remarketing campaign, accurately predict its outcome and then optimise its performance.
The insights include detailed funnel reports and industry benchmarking, showing where visitor progression can be improved by a campaign.
Yieldify uses data from over 25,000 campaigns to predict the uplift the proposed campaign will deliver before any time or resource is invested. Once the campaign is in progress, A/B testing and detailed reach reporting help ensure that targeting, triggering and content is fully optimised.
By applying models and computing power to data and campaigns we we can predict effectively where the best place is to start
Richard Sharp, chief technology officer at Yieldify, said: “One of the problems you have with conversion rate optimisation is knowing where to start. This was a conversation we have had with customers multiple times, and this is the problem that Predict and Convert solves.
“The way it works is that by analysing 4.5 billion historical user interactions inside the Yieldify platform and data from your own online properties, Predict and Convert is able to do a lot of the hard work of figuring out where to start for you. It identifies a lot of the higher ROI opps for conversion optimising your site,” he added.
Computer powered insights
After building up expertise in the area, the company found it was more beneficial to adopt computing power to sift through the data and campaigns it had gathered and generate insights from that.
“Anything’s possible when you are conversion rate optimising, for example you are usually looking at a large site that sits across multiple channels and you’re trying to figure out, what’s the highest impact thing I can do? By applying models and computing power to data and campaigns we we can predict effectively where the best place is to start, where the high impact opportunities are and what should be done about it,” Sharp told MarketingTech.
And insights are pretty vital to retargeting and remarketing or so it would seem. Analytics tools don’t always spit out ready-to-go insights, unless you have the in-house know how, so tools like Predict and Convert sound like an interesting way of gathering these without making the hire.
What Yieldify doesn’t do is display or social retargeting themselves, as their focus is on onsite and email remarketing. Although, Sharp adds that marketers do need to have a very clear line when it comes to remarketing products to consumers.
“There is a number of instances where you can see what has happened with retargeting is genuinely upsetting for people rather than just annoying. But, we’ve only just seen the beginnings of retargeting and people trying out the most obvious things.
“But you could use retargeting in much more innovative ways. For example, instead of just showing people a product you’ve seen for that brand again and again, you could use various kinds of creative to tell a story and bring people on a journey. That’s where marketing automation platforms going,” he added.