Is Personalization At Scale Possible? Personalization at scale has long been a desired capability of many Marketers. Being able to deliver personalized messages would not only differentiate a brand from all the others that are trying to do this, but miss terribly. (i.e., I am a MAC fan – never bought a PC in my life, but I still get print PC catalogs… it’s a waste of that company’s money because I’m am not the right target demographic.) So getting personalization right not only makes the customer feel like you know them, you care about what they care about, but also you are paying attention. Of course this can be difficult with large customer bases.
If a brand was able to do this, they would not only increase their ROI on their marketing campaigns, but also increase the customer experience, and as a result increase customer loyalty. Customers buy from those who make it easy to buy from them and easy to find what they need and want. And when it is served up to them, it’s even easier for customer to say yes. While there are some Marketers that are able to do personalization at scale, most would like to do it better. Intact, without a data-driven approach to optimizing the customer experience, marketers are left with:
- Lower conversion rates
- Un-optimal customer experiences
- lost revenue and lower ROI for campaigns and creative.
Software to Help Get to Personalization: Oracle today announced that it has signed an agreement to acquire Maxymiser, a leading provider of cloud-based software that enables marketers to test, target and personalize what a customer sees on a Web page or mobile app, substantially increasing engagement and revenue.
Who Has Maxymiser Helped To Date with Mass Personalization At Scale? Maxymiser optimizes over 20 billion customer experiences per month for brands such as Allianz, HSBC, Lufthansa, Tommy Hilfiger and Wyndham.
How Does Maxymiser Work? This acquisition that will strengthen Oracle’s solution to manage marketing programs across all digital channels and across the customer lifecycle. Tim Brown, Chief Executive Officer, Maxymiser said, “Our mission is to empower enterprises to use data science to systematically test, discover, and predict what customers want and deliver uniquely tailored experiences. We are excited to join Oracle and bring these capabilities to help extend Oracle Marketing Cloud.” Below is more information about how the testing, insights and personalization works.
Truth is Marketing Requires Testing: While many executives would want Marketing to alway hit the market, the truth is that testing is required. With Oracle’s acquisition, modern marketers can systematically use customer data to test, discover and predict the experiences customers want online.
What Should You Take From This Acquisition?
- The combination of Oracle and Maxymiser extends Oracle Marketing Cloud’s capabilities for customer experience optimization into Web, mobile Web, and mobile apps
- An optimized customer experience is one that has been systematically tested for effectiveness and personalized to interests and behaviors
- Optimizing each customer experience increases revenue and enhances marketing ROI because customers who get what they want are more likely to click, purchase, and return more often
- Maxymiser enables this optimization with data science technologies covering multivariate testing, audience-segment discovery, and predictive personalization—all made marketer-friendly
- Maxymiser’s management team and employees are expected to join Oracle as part of Oracle Marketing Cloud
- And the pieces that Oracle has acquired are integrating or has already integrated into their solution.
MY POV: If you are a Marketer that wants to increase the customer experience by targeting the right customer, with the right offer, at the right time, this is a very important move for Oracle.
@drnatalie, VP and Principal Analyst, Constellation Research