Monetate has released the Monetate Intelligent Personalization Engine, a platform designed to help retailers and consumer-facing brands provide individualized experiences.
Machine learning models power the Engine, which is designed to:
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Optimize against specific goals: whether it is revenue, conversion or engagement, the solution will optimize each individual experience toward the chosen metric;
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Make complex decisions in real time: decisioning capabilities offered in less than 20 milliseconds allow marketers to act in the moment of interaction to ensure each customer gets the most relevant experience for them;
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Aggregate any and all data: The Engine’s open architecture allows customers to leverage all customer data from their existing technology stack, including in-session data, to ensure up-to-the-moment precision in decision making; and
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Personalize across channels.
For example, a Monetate client used the Engine to reorganize its Product Description Pages (PDPs) by effectively determining when it was advantageous to emphasize customer reviews or related product recommendations. Deployed across two of the client’s sites, The Engine achieved a 4.8% lift in revenue per session (RPS) on one site and 1.3% lift in RPS on the second site.
