Ralph Hünermann, a Founder & CEO at ODOSCOPE, shared with us his professional experiences and explained the term situationalization. Keep on reading to find out more!
You founded ODOSCOPE in 2015. Long story short: What is your company’s mission?
We enable high user experience by delivering relevant content to any user on every digital touchpoint.
Which previous professional experience inspired you to found ODOSCOPE?
First of all, my PhD in neuroinformatics strengthened my passion for AI and machine learning techniques. Before ODOSCOPE, I co-founded a web agency with an e-commerce focus. While in the agency, we experienced the lack of a product to optimize the customer experience based on first-party data. We went on to build that product and this is what became ODOSCOPE.
How does your every day at work look like as a CEO? Do you have any routine?
I do have regular jour fixes with different departments and clients. Additionally, in a startup, there are unforeseen events, tasks and situations all the time, so it never gets boring 🙂
How can ODOSCOPE help online stores?
By using the ODOSCOPE situationalization platform, existing 1st party data can be monetized by offering even unknown customers the most relevant products for their current shopping situation. In the case of known customers, additional data from the CRM can be used to determine the most relevant products. This significantly leads to lower bounce rates, higher-order rates, better return rates and stronger customer loyalty. This way, we revolutionize the shopping experience in online stores and increase the revenue significantly.
What are your plans for ODOSCOPE in the next few years?
We will focus on national and international growth as well as setting up a partner network.
At E-commerce Berlin Expo 2020 you are going to give a presentation about “Situationalization – Personalization on Steroids”. Could you explain briefly what do you mean by this mysterious title?
Situationalization takes not only personal data but also situational data into account. With personalization you can only address only around 20% of your known users. With a situationalization platform, you can also address the remaining 80% by using your historic data. This leads to the effect that everybody can receive the most relevant content.
What will be the role of personalization in the e-commerce industry in 2020?
Personalization is about to take center stage and will become mainstream in 2020.
How can online stores face the challenge of delivering a personalized experience in the era of data protection and consumers’ desire to be anonymous?
With situationalization users can be completely anonymous and only their current situation will be used. People on a Sunday afternoon with a tablet on their couch have a different shopping behavior than on their way to work with their smartphone on a Monday morning. People in metropolitan areas also show very different shopping behavior than in rural areas. Situationalization enables individualization while letting the consumer be anonymous.
What would be your set of good practices on increasing CLV / AOV in e-commerce?
First of all: Speed up your page load time! With every additional second of load time, you lose conversions and revenue.
Take a look at your first-party data and activate it in order to show the right products at the right moment. Relevance is key for user experience. Great user experience is key for more revenue!
Thanks for your insights, Ralph!
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