We had the chance to chat with Anoop Vasisht, General Manager Europe at Dynamic Yield, about personalization,
What is your role in Dynamic Yield?
I am the General Manager for the European team at Dynamic Yield and am responsible for revenue in the region. Our growing team here has worked with over 100 brands including the likes of Mediamarkt, Home24, HRS, Chal-Tec, Juniqe, Weltbild, and more, helping them utilize personalization as a pillar of growth. We’ve witnessed the market mature so much over the past few years and it’s super exciting to have contributed to the innovation that’s taken place – the focus now is on how we can continue to expand our reach into new territories and verticals.
Dynamic Yield is an omnichannel personalization platform. How can you help eCommerce?
Retailers have come to learn they can’t just deliver experiences to the “Average Visitor” anymore – there isn’t one. With personalization technology like ours, eCommerce brands can now move beyond showcasing the same products to an entire customer base and instead deliver individualized product recommendations for each user. This not only results in a better overall customer journey for all, but also significantly improves conversion rates, average order value, and revenue.
For example, we’ve been working with Chal-Tec for a long time now. Their team is seeing uplifts of more than 37% in average revenue per user across use cases which include time-sensitive notifications, affinity-based recommendations, and geo-based targeting.
How does AI empower Dynamic Yield?
Artificial Intelligence is baked into our technology to simplify the process in which companies gather all of their data, analyze it, and execute against it. With Predictive Audiences, we enable customers to identify segments who may be at high risk of churning or are likely to be big spenders through automatic insight creation. And through Predictive Targeting, recommend courses of action for specific audiences of users. We believe the value of AI relies heavily on human intelligence, which is why our tools make it easy to understand the results of such automation and provides the ability to control and manage these decisioning-engines.
With which other platforms your clients can integrate Dynamic Yield?
Dynamic Yield is compatible with various content management systems, eCommerce platforms,
What is behavioral messaging that Dynamic Yield supports?
A high-impact messaging strategy will speak to each individual’s context and drive action across web, mobile, and app. Our platform allows users to tailor targeted overlays and notifications at any point in the customer lifecycle. This includes trigger messaging, or those based on real-time behavioral and contextual data, as well as Dynamic messaging, tailored to different user segments. Additionally, our exit-intent technology can detect and react to site abandonment before it happens, assisting brands in recapturing potential lost sales.
I’ve noticed that among your clients is Sephora and MediaMarkt. Can you share some details about your cooperation?
Sephora SEA is using Dynamic Yield to personalize the entire customer journey. For example, by seamlessly helping customers find the most relevant products. They do this by optimizing product detail pages (PDPs) with recommendations surfaced based on three distinct strategies: similar items, bought together, and automatic. With this tactic, Sephora was able to achieve a $6.50 return for every $1 spent with Dynamic Yield, essentially a 6X ROI.
MediaMarkt, on the other hand, uses our technology to consolidate their data, create individualized experiences, and measure customer activity. They’ve launched over a dozen use cases, generating a 14% uplift in revenue per user from personalized dynamic content, recommendations, and more.
Do you think omnichannel is a current trend in the eCommerce industry?
Providing a cohesive experience across device, channel, and location has been the epitome of a superior customer journey to eCommerce marketers for quite some time now. Retailers know they can’t compete on price and promotions any longer, and that in order to maintain relevance and drive purchases with consumers who have so many options available, they have to take a tailored approach. The difference now is that technology is finally capable of delivering this level of consistency, especially as APIs become more popular and personalization begins to make its way into emerging digital channels such as in-store kiosks, IoT, voice assistants and more.
Thank you for this short chat, Anoop!
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