Top Trending 2022
Digital marketing executives place a high value on personalization. The key to educating customers, reducing friction, and increasing purchase consideration is to use relevant and timely messaging. Assess personalization engines that enable you to produce quantifiable results using the findings from this research.
Assumption for Strategic Planning (s)
Defintion/Explanation of the Market
A customization engine is software that helps marketers find, deliver, and measure the ideal experience for an individual customer or prospect based on their past interactions, present context, and expected intent. Market defines personalization engines.
Marketers can utilise personalization engines to detect, select, adapt and deliver messaging across customer touchpoints in support of three key use cases:
> In marketing, delivering the proper message to a target audience in the right context is critical to maximising the effectiveness of marketing and advertising campaigns.
> Personalized information, offers, recommendations, and shopping experiences are all part of digital commerce.
> Consumer service and support: tailoring online and offline interactions to decrease customer effort or improve customer happiness and advocacy.
In addition to increasing conversion, average order value (AOV), campaign performance (RV), and revenue, personalization engines are also used by marketers to boost customer satisfaction and loyalty.
Personalization engines have the following primary capabilities:
> Tracking and ingesting of data while in session
> Flexible user segmentation based on known and inferred values, including contextual data and user feedback, to facilitate rule-based personalisation.
> Tests for a wide range of personalization features and methods, as well as extensive testing capabilities
> Content and product suggestions can be supported by predictive analytic capabilities such as expected affinities or other values, which can be utilised to target and activate an audience.
> Tracking, measuring, and reporting on personalization performance
Engines for customisation can include features such as:
> ABM and B2B interactions can be made more complicated with the use of account-based data structures
> Ability to increase personalised outcomes by automated machine learning, such as detecting underperforming audiences and offering particular measures to improve results
> Design and implementation of a customer satisfaction survey
Top Trending Vendors
Adobe
Personalization and marketing automation are the main focus of Adobe Target's offering. The majority of its operations are based in the Americas, but they span the globe. B2C marketers in large retail, financial services, and hospitality firms are the company's typical clientele. Adobe has enabled profile-based audience sharing between Adobe Target and other Adobe Experience Cloud products as part of its continuous efforts to establish a more consistent user experience across its product line. To help advertisers create a more unified customer experience, Adobe is aiming to integrate data from Adobe Journey Optimizer into Adobe Target and further enhance native personalisation across Adobe Experience Cloud.
Algonomy (RichRelevance)
Personalized product recommendations are a key aspect of its Omnichannel Personalization package, which covers the entire client life cycle from acquisition to retention. It has a wide range of clients, most of them are medium and large-sized retail and wholesale businesses. To develop Algonomy, a customer data platform called Manthan was combined with RichRelevance, a stand-alone personalization engine that has previously been featured in this Personalization Engine Segment. The united organization's strategy focuses on improving the catalogue operations of marketers and merchandisers and expanding their ability to optimise the customer journey.
Attraqt
Marketers can use its Experience Orchestrator tool to help them customise digital commerce experiences via algorithmic optimization." In Europe, the company's operations are primarily focused on enterprise retailers in a variety of industries, including clothes, consumer electronics, home and garden, household goods, and cosmetic products, as well as groceries. In the near future, Attraqt wants to include picture search to its Experience Orchestrator platform. Attraqt is also working to streamline the onboarding process for new customers by delivering pre-built interfaces with third-party technology suppliers and by using industry-specific templates.
Boxever
In order to enable a wide range of customization use cases across a wide range of sectors, its personalization engine focuses on comprehensive decision management capabilities. B2C marketers in the travel, financial services, and media and entertainment industries comprise the bulk of its clientele; its operations are spread over the globe. As a standalone customization engine or as part of Sitecore's digital experience platform, Boxever was acquired by Sitecore in 2021. (DXP). New analytics tools (e.g., journey analytics and multiarmed bandit [MAB] algorithms) have been added to Boxever's platform recently, and the company is continuing to invest in industry-specific templates.
Dynamic Yield
There is a lot of emphasis placed on helping marketers speed up the process of personalisation by building and testing new experiences more quickly. Although it has a global clientele, its operations are mostly concentrated in the Americas and Europe. Marketing executives from worldwide consumer brands and retail companies are its primary customers. Predicting client intent is now easier thanks to Dynamic Yield's AdaptML deep learning recommendation algorithm. Deep learning and its API framework, as well as improvements to the visual editor, are among the company's future goals.
Insider
With a heavy focus on mobile, its Growth Management Platform uses a templated approach to customisation. The company's customers are mostly B2C marketers in the retail, travel, and telecoms industries, and it has seen significant growth in North America over the past 18 months. A number of recent upgrades have been made to the platform's testing, e-commerce, and reporting features. With the launch of a new API marketplace, Insider intends to promote more custom development.
Kibo (Monetate)
Customers' journeys can be personalised in the context of commerce with Kibo Personalization. A high percentage of its clients are mid- to large-sized retail and financial services firms. Its operations are concentrated in the United States and Europe. After acquiring Certona and Monetate in 2019, Kibo is now the owner of both companies, which have previously been analysed in this Personalization Engine Segment. Recently, Kibo has renamed Monetate's customization engine "Kibo Personalization" and included Certona's digital commerce recommendation elements into the new product's decision-making abilities.
Optimizely (Episerver)
The acquisition of Optimizely, an online testing and optimization tool, by Episerver since the last iteration of this research has rebranded the company as Optimizely. There is a lot of attention on digital commerce use cases and increasing the usage of marketing automation in the Optimizely Intelligence Cloud solution. Its clientele are mostly retail, technology, and financial services marketers, with the majority of its operations taking place in the Americas. Improved data unification and machine learning capabilities are on the horizon for Optimizely following its acquisition of Zaius, which will allow it to recommend the best algorithm for a marketer's goal.
Oracle
Maxymiser, Recommendations, and Infinity Streams are all part of Infinity IQ's personalization platform. In order to provide a personalised experience throughout the customer journey, it provides real-time data streaming, testing, and optimization capabilities Customers in retail, financial services, and communications industries are served by Infinity. Infinity's data integration capabilities will be the focus of future Oracle investments, which will allow marketers to better integrate offline and third-party data. Predictive modelling and recommendation capabilities will benefit from these new features.
Salesforce
A major goal of the company's Interaction Studio is to provide marketers with more precise, personalised experiences through the use of machine learning and contextual data. Its clients are predominantly B2C marketers in the retail, financial services, and healthcare industries, with the majority of its deployments taking place in North America. 2020 will see the acquisition of Evergage by Interaction Studio. Ongoing investments in machine learning and integration with the Salesforce ecosystem are boosting Interaction Studio's automated decision-making abilities.
SAP (Emarsys)
A customization engine and a wide range of marketing services are provided by SAP's 2020 acquisition of Emarsys Client Engagement Platform, which focuses on AI-powered automation for the creation of tailored customer engagements. B2C and B2B marketers in the retail, transportation, and media industries are among the company's frequent clients. The platform can be used independently of SAP Commerce Cloud or as part of it. Additional industry-specific analytics and design templates have been included in recent product investments. Personalized advertising may now be tracked without using cookies, thanks to the company's future plans for greater interfaces with other SAP products.
SiteSpect
Digital experiences may be tailored for a wide range of customers thanks to its personalisation platform. As a result of this, the majority of its business comes from CPG brands, merchants (especially groceries), and financial services and healthcare companies. A new suggestion engine has been developed by SiteSpect, and the company intends to broaden its placement optimization capabilities by making it clearer which customer journeys and zones may be optimised algorithmically. SiteSpect's visual editor will be updated and its template library will be expanded in the next months.
Explore more top trending software for 2022:
Explore more top trending software for 2022:
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