Every successful personalization campaign requires understanding both your customers and their intent. At its core, personalization is the act of presenting the right experience to the right audience to deliver a wanted experience. So how can marketers better understand their audience segments, in order to design the most valuable experiences possible?
The first step is gathering insights into how your customers behave and teasing out the similarities and differences among your customers. This used to require using larger outside analytics solutions or cobbling together the right data from across multiple systems (or teams) — which could sometimes take weeks, without even including the hours it can take to dive into the data to find actual insights.
Today, I’m excited to announce that Monetate customers have access to Audience Explorer: a segmentation and analytics tool that provides instant insights into your customers. We designed Audience Explorer with personalization in mind, to help marketers craft nuanced audience segments, evaluate their performance across key metrics, and create experiences to quickly deliver personalization to those audiences. All in a matter of minutes, right in the Monetate platform.
But don’t take my word for it. Here’s how one of our power users, Allison Reitz, Manager of Conversion Optimization at TicketNetwork, uses Audience Explorer:
“I can instantly see fluctuations in existing segments, discover new segments as they emerge, and adjust my strategies around these changes. Instead of spending my time segmenting and analyzing data, I can focus on launching positive experiences that address real-time trends in website traffic, using data I trust.”
And read on for more details about what Audience Explorer can do for you.
Get instant insights
Audience Explorer gives you instant insights into customer behavior using everything from simple attributes (such as device type and geography) to more complex attributes (such as product categories viewed and brands purchased). All in real time. Audience Explorer also highlights how each audience contributes to key metrics like conversion rate or average order value — so you can turn more of your customers into your best customers.
Compare audiences and experience performance
You can also explore performance differences between segments after serving an experience or test. This can be especially powerful when analyzing how personalization initiatives are affecting shopping behavior; for example, how well did your content perform for new customers versus returning customers? You can even take this idea one level further by looking at audiences who have seen multiple personalization experiences and track how that affects their shopping behavior — key for building a business case for deeper personalization.
Audience Explorer can also help marketers derive deeper insights from A/B tests. Imagine you just completed an A/B test to see which version of your product description page resulted in a higher add-to-cart rate. You know that variant A did better overall, but Audience Explorer can help you understand how well the test performed based on the specific products customers were browsing when presented with the variants.
Understand audiences to build more effective strategies
Building an effective personalization strategy requires an understanding of key audience segments and answering questions like, “Do I have audiences that share traits or behaviors that I should personalize around?” Audience Explorer helps surface these key metrics and attributes.
[Want to read the latest Monetate research into valuable holiday shopper segments? Click here.]
Target saved audiences to take immediate action
Once you have identified and saved valuable audiences, you can use them as targets for an experience. Audiences you’ve saved in Audience Explorer are surfaced as targets for you in the platform’s Experience Builder — just select the audience you want to target.
Bringing Audience Explorer to life
Audience Explorer was built in partnership with dozens of Monetate customers who were part of our early access program. The direct feedback they provided as we designed, developed, and iterated on Audience Explorer was invaluable and ensured that we built something that solves real problems for our clients.
Delivering these new audience analytics features is particularly meaningful to me because Audience Explorer is the first product I’ve worked on since joining Monetate. Thank you to all the customers, designers, and engineers who helped bring this to life. If you’re interested in learning more about Audience Explorer, reach out to your Monetate account manager or submit a demo request.
Ubek Ergashev is a Product Manager at Monetate, focused on developing products that empower customers with analytics capabilities.