April 18, 2016 | Written by: Laurie Hood
Share this post:
We have talked a lot lately about real-time personalization, both logistically what it means to deploy an RTP solution and theoretically by showing examples of those doing it well.
Add The Home Depot to that list of those companies doing it well.
Dynamic personalization in retail
Trish Mueller, the CMO of The Home Depot, was recently interviewed for an innovative web series we are sponsoring called Above the Clutter with Pete Krainik. If you haven’t seen her video yet, be sure to check it out at ibm.com/think-cmo.
In one part of her interview not in the final video, Trish gave some insights into how her team utilizes RTP to leverage additional revenue opportunities.
“We have an incredible team of data scientists who are doing all kinds of modeling. So we’ll take data on people who bought a product and we’ll look at what they did before and what they did after. And we’ll see what the propensity for us to sell a related product is,” Trish explained.
Her team dynamically populates the content of their emails based on the customer’s activity data. Products originally slated in the promotional email are swapped out with something more relevant if, by chance, the customer had already purchased the featured product. Trish gave the example of an email promoting a gas grill. When the customer buys the grill in the store the night before, the next morning the email is dynamically updated to promote the corresponding gas grill cover.
Relevant, personalized messages in banking
The Home Depot isn’t the only company excelling at real-time personalization. Our client ING DIRECT Australia is doing some pretty fascinating things with their automated marketing process. Their new platform executes more than 100 contextual triggers per day to share relevant, personalized messages to over one million customers each month. In the past, a medium-sized campaign took around five to six days to build and test. Today, they can roll out an entire campaign in just three days. Also, they previously ran email campaigns manually with at least a two-day gap in delivery. Now they can analyze up-to-date customer data for contextual triggers each hour of the day.
Reducing marketing operating costs in telco
Let’s jump from one industry and one continent to another. The largest mobile telecommunications provider in Brazil, Telefonica | Vivo, successfully launched a full scale real-time personalization strategy. They now gain instant feedback on 200 campaigns per month. This strategy has helped them reduce marketing campaign operating costs by 30%. Moreover, they have experienced an increase in the opt-in rate for marketing messages by 70%.
Whether in retail, banking or telco, all of these clients around the world have one thing in common: They excel at real-time personalization. We have more examples from companies in the media and insurance verticals and across Europe and Asia. Download our ebook now to read their success stories.
Tell us how you’re personalizing your customer experiences at @IBMforMarketing.