Prediction Manager Wins ‘Best Personalisation Tool’ at the UK Digital Growth Awards
July 18, 2019
The inaugural UK Digital Growth Awards celebrate the best of the best in technology: the agencies, tools, websites, campaigns and people who have driven demonstrable growth and sales in their respective verticals. We’re thrilled to report that impressive list includes Sailthru’s Prediction Manager, which won the award for Best Personalisation Tool.
Personalisation has become table stakes for marketers. Consumers not only prefer, but expect, personalised communications. As a result, savvy marketers are looking past what they did and connecting that to what they’re likely to do.
Prediction Manager and Personalisation
Using billions of data points over one year’s time, Prediction Manager creates millions of predictive models. They’re tested against the previous 30 days of data to validate the accuracy of the predictions. This happens continually, as Prediction Manager is adaptive, making new models daily.
Built natively into the Sailthru platform for easy setup and management, Prediction Manager enables our customers to determine when, where and how their customers will engage with the brand. In media, it could mean email open rates, opt-outs and pageviews. For retailers, that could mean the quantity and value of purchase, and predicted future revenue. It also determines the products people will most likely find appealing.
What Prediction Manager Can Do For You
In many cases, the lion’s share of a brand’s revenue comes from a small group of its most loyal customers. Traditionally, marketers have used the RFP — Recency, Frequency, Monetary — model to determine who those people are. Those are only three variables; Prediction Manager users can measure against more than 60.
Clothing rental service, and recent inductee into the Unicorn Club, Rent the Runway used Prediction Manager to identify the most likely purchasers. From there, the company built lookalike models for 30-day purchase predictions on Facebook, testing against a control group of customers who had purchased in the previous six months. The overlap was just 15%, which meant that Rent the Runway significantly increased its reach. At the same time, the retailer reduced subscriber acquisition cost by 20% on mobile while increasing expected one-year lifetime value by 53% on mobile.
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