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Using ‘Online Variables’ to Drive 1:1 Personalisation for Insurance Companies

If you’re trying to maximize the performance of your digital marketing campaigns, capturing data from your website which I call “online variables” goes far beyond the traditional champion/challenger approach of retargeting based on user behaviour on the website. What limits user behaviour on the website is the fact that you can only personalise the user experience at a segment level and not at a 1:1 personalised level.

ONLINE VARIABLES

For an insurance company, there are very user specific “Online Variables” which can be used for “1:1 Personalization” from the Premium Calculator or Quote pages.

  • Gender
  • Date of Birth
  • Tobacco – Yes or No
  • Life Cover Amount
  • Payment Term – Regular, Single, Limited Pay
  • Policy Term – Number of Years
  • Payment Frequency – Yearly, Half Yearly or Monthly
  • Premium Amount – Yearly, Half Yearly or Monthly

USE CASES FOR INSURANCE

Here are some of the “Insurance” specific use cases which can be created using the above “Online Variables” when captured from the Premium Calculator or Quote pages on insurance website.

Personalization using Life Cover, Policy Term and Premium Amount

Use Case – User searches for a premium quote for a Life Cover of Rs. 1 Cr with Policy Term of 30 years. The user sees a premium amount and drops off.

User Experience – During the Buying Cycle period

User is shown a 1:1 personalized banner with Life Cover of Rs. 1 Cr, Policy Term of 30 years & Annual premium amount on Google, Facebook, Homepage Banner, Site Notification & Browser Push Notification.

User Experience – Post Buying Cycle period

User is shown a 1:1 personalized banner with Life Cover of Rs. 1 Cr, Policy Term of 30 years & discounted premium amount on Google, Facebook & Browser Push Notification.

Personalization using Family Protection Cover, Premium Amount & Payment Frequency

Use Case – User searches for a premium quote for a Life Cover of Rs. 1 Cr with Policy Term of 30 years. The user sees an Annual premium amount and drops off.

User Experience – During the Buying Cycle period

User is shown a 1:1 personalized banner with Life Cover of Rs. 1 Cr, Policy Term of 30 years & Monthly premium amount on Google, Facebook, Homepage Banner, Site Notification & Browser Push Notification.

User Experience – Post Buying Cycle period

User is shown a 1:1 personalized banner with Life Cover of Rs. 1 Cr, Policy Term of 30 years & discounted monthly premium amount on Facebook & Browser Push Notification.

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Personalization showing impact of premium amount before & after birthday

Use Case – User whose Birthday is in the next 3 months’ searches for a premium quote for a Life Cover of Rs. 1 Cr with Policy Term of 30 years. The user sees an Annual premium amount and drops off.

User Experience – During the Buying Cycle period

User is shown a 1:1 personalized banner with DOB, Life Cover of Rs. 1 Cr, Policy Term of 30 years & annual premium amounts before and after his/her birthday on Google, Facebook, Homepage Banner, Site Notification & Browser Push Notification.

User Experience – Post Buying Cycle period & before the birthday

User is shown a 1:1 personalized banner with Life Cover of Rs. 1 Cr, Policy Term of 30 years & annual premium amounts before and after his/her birthday on Facebook & Browser Push Notification.

1:1 Personalization using Multiple Life Cover Options

Use Case – User searches for a premium quote for a Life Cover of Rs. 1 Cr with Policy Term of 30 years. The user sees an Annual premium amount and drops off.

User Experience – During the Buying Cycle period

User is shown a 1:1 personalized banner with multiple (2) Life Covers of Rs. 50 lakhs each, Policy Term of 20 & 10 years & Lesser Annual premium amount on Google, Facebook, Homepage Banner & Browser Push Notification

User Experience – Post Buying Cycle period

User is shown a 1:1 personalized banner with Life Cover of Rs. 1 Cr, Policy Term of 30 years & discounted premium amounts on Facebook & Browser Push Notification.

Using your user specific online data is key to drive new acquisition during this peak season with 1:1 Omni Channel Personalized engagement. If you are unable to capture these insights and data points from your website or if you are not using it to acquire new customers, you might be driving up your CoA by not targeting your audience with relevant 1:1 messaging on your marketing channels.

Look forward to hearing your view on this. Don’t hesitate to write back to me at prasenjit.dg@vizury.com.

Predictive Marketing – The Future is Now!

Predict. Personalize. Perform.

In today’s competitive world, marketers need to find the right customers who will contribute to revenue and help them grow their business. Customers are exposed to a wide variety of ads throughout the day – phone, tv, newspaper, laptop, billboards, magazines etc. Only a certain number of the customers are “in-market” to buy any specific product. They are in-market either because of genuine need or demand being created by quality ads which educate them about a certain need. Historically, marketers have used all forms of media to communicate their message to users.

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In today’s digital era, customers are able to compare products and services within minutes on the web. Every second, billions of users across the world browse through the internet visiting ecommerce, banks, insurance, airlines, music, news and other types of websites and apps. Every visit is a sign – either positive or negative – of customer intent. Marketers should constantly ask themselves the following questions:

  1. Which customer will buy and when
  2. What is the best channel(s) to communicate
  3. What is the right message
  4. Should an offer/discount be provided

These questions are the fundamental tenets of the new age of marketing called “Predictive Marketing”.  

What is Predictive Marketing?

The Marketing Tech Blog defines Predictive Marketing as “the practice of extracting information from existing customer datasets to determine a pattern and predict future outcomes and trends”

Intelligent Demand says Predictive Marketing means “using data science to make smarter marketing decisions by predicting which marketing actions are more likely to succeed, and which are more likely to fail”.

Therefore we could safely say Predictive Marketing is the science of using data to predict actions of users which are more likely to translate into revenue and act upon them through the right marketing channels.

5 Steps of Predictive Marketing

  1. Understands trends, patterns and relationships in user data
  2. Define goal: This varies for different industries – ‘Purchase’ for Ecommerce and Airlines, ‘Leads’ for Banks and Insurance companies, ‘Buy/Sell’ for Trading companies, etc.
  3. Calculate a score for each user to predict who is more likely to buy and who isn’t
  4. Prioritize marketing for users with high score
  5. Personalize ads with relevant messaging

Predictive Marketing at Vizury

Vizury follows a method of Prediction -> Personalization -> Performance

  1. Data that Vizury has
  2. Data that Vizury gets on a daily basis
  3. How is data analyzed: Models, Algorithms
  4. How is marketing data used : What marketing responses and their patterns used
  5. What is the end goal: purchase, leads, registration, visits

Here is a simple flowchart of how Vizury executes predictive marketing:

predictive marketing flowchart_v2.png

Vizury’s predictive marketing capability is used by marketers across Ecommerce, Airlines, Banking and Insurance verticals.

For each of these verticals, Vizury follows the steps mentioned above with clear goals. We PREDICT who will buy, PERSONALIZE the marketing message on the right marketing channel and achieve the PERFORMANCE (RoI) which we set out for.

It is important to acknowledge the fact that Predictive Marketing is an ongoing process. Data hungry systems will require a decent volume of data to study patterns and learn. Therefore, give your systems/platform time to learn.

In the following articles, lets talk about specific use cases for Banking, Insurance and Airlines verticals.

Meanwhile, feel free to reach out to me at sachin.kulkarni@vizury.com with any thoughts or questions you might have.

 

Must Read: The complete eCommerce Marketing Cheat Sheet

List of best blogs, blooks, podcast, videos and advice that every eCommerce marketer should read. We have arranged all of these in 6 different categories.

How to not blow your budget on SEO:

Tools that will help you:

Get more out of your email programs:

Tools that will help you:

 

Define the Future of Retail Technology today:

Tools that will help you:

 

Re-imagining and re-inventing Retail:

Tools that will help you:

 

Grow Your Business – The Nuts and Bolts

Tools that will help you:

 

It’s all about Growth – Mobile

Tools that will help you:

Got something interesting to add here? Send us your suggestions at marketing@vizury.com

Taking a closer look at your Mobile Marketing Platform

Taking a closer look at your Mobile Marketing Platform

Would it be too obvious if I said apps are taking over mobile commerce? The transition over the past couple of years has been overwhelming in terms of adoption and transactions. As of today, more than 50% of all transactions happening on mobile are from apps across all major markets and this number is only climbing.

However, the invention of mobile apps has made the life of marketers a bit more complex as if it wasn’t already. With this new platform come new channels and new metrics that need to be tracked and new objectives that need to be met. Not surprisingly, a plethora of tools have come up to help app marketers engage with their users and monetize their apps.

But, are the current bunch of tools doing enough or is there something more?

Are your DAUs/MAUs falling in spite of driving intense install campaigns? Has your conversion rate improved at all? How about your uninstall rate?

You can go back and check in sometime. Before you do that, this is important.

Here is a checklist of 10 very important questions you need to ask yourself as you take a close look at your current mobile marketing platform:

 1. Is your mobile marketing platform built for E-commerce?
 Example: Does it allow you to recommend products that are in trend? Or does it help you  reach out to ‘cart drop off’ users with offers on the respective products?

 2. Is the platform designed to drive users down the sales funnel and understand the unique  requirements for e-commerce?
 For example, does it allow you to send a push notification to a user when the price of a  product he/she had visited and not bought goes down?
 3. Does it understand who your most and least valuable users are?
 4. Is your re-engagement communication personalized?
 5. Is the platform helping you send push, in-app messages and email based on user  behaviour?

 6. Are you sending the right offers to the right audience? What I mean by this is – stop sending  ‘50% off on ladies ethnic wear’ messages to 20 year olds who have never visited the ethnic  wear category in your app
 7. How many channels does your platform support? Does it have Display (Ads), Facebook,  Push, In-App, Video and Native channels to reach out to your users?
 8. Are your re-engagement channels operating in silos?
 9. Are you sending multiple notifications, emails and in-app video ad messages to the same  users? It spoils user experience and sets in brand fatigue. You don’t want that, especially with  the kind of competition around.
 10. Is your platform able to identify which user prefers what channel of communication?

If your answer is not a confident Yes for any of the above questions, it is time to re-evaluate your current platform.

Click to download the best practices guide to help you scale your app marketing RoI.

Talk to us for any queries you might have. Write to us at marketing@vizury.com.

Disrupting Airlines Marketing – A True Growth Marketing Story

Disrupting Airlines Marketing – A True Growth Marketing Story

This blog is based on my true experience while onboarding a new Airlines client onto Engage Travel.

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Engage Travel, our Growth Marketing Platform comes with specific use cases that help travel brands run personalized cross-channel engagements and enhance their marketing effectiveness & ROI. Clients can execute marketing campaigns based on recent user behavior or historic behavioral data that has been recorded. The segmentation capabilities of Engage Travel are so powerful that clients can execute niche marketing strategies that they never imagined were possbile let alone the ease with which they are able to activate these user engagements.

Recently, we onboarded an Airlines client onto Engage Travel. The client is very progressive in terms of marketing, usage of data, types of ads, content in ads etc.

The first few days of training were about the fundamentals –  data onboarding, segmentation rules, types of segment and getting hands-on with the platform. After few days, the client realized that with so much data onboarded onto Engage Travel, other marketing teams within the Airlines brand like SEO, Affiliate could understand the data and think about leveraging the insights to resolve marketing challenges that are beyond advertising.

What was a thought, culminated into a 2 hour brainstorming session with 16 members from different marketing teams that were part of the Airlines brand. Each team had its own marketing goals – SEO team focussed on driving website traffic, Retargeting team was committed to increasing online conversions and so on. For the first time ever in the history of marketing by this Airlines brand, different teams were looking at the same set of data and evaluating the use cases that were impossible to execute with their earlier available tools.

Imagine the sheer energy in a room where all the 16 minds were inclined to present the best growth marketing idea that has never been tried in the industry. At the end of 2 hours, the teams presented 12 marketing ideas, and I can say most of them were unique and probably the best growth marketing ideas in the travel industry

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Couple of my personal favorites:
1. Users who drop from route specific SEO landing pages must be shown highly customized ads on channels like display and FB where they are likely to be found.
2. An interesting segment for the Airlines are users who buy air ticket offline but do a web check-in. The idea was to find such users and reach out to them with special offers for online ticket bookings.
The Airlines brand is in the process of implementing some of the ideas that were discussed. Watch this space for updates on implementation and results.

Infographic: Amplify App Marketing across FB, Instagram and Audience Network – New Feature

Infographic: Amplify App Marketing across FB, Instagram and Audience Network – New Feature

Here’s some exciting news for all App marketers. Vizury’s Engage Commerce has completed integration with Facebook’s global ad inventory and can show ads across Facebook, Instagram and Audience Network. What this means is that you can reach your app users in more places through a single Mobile Marketing Platform.
 1. Engage Commerce customizes your ads at a user level for more engaging conversations.
 2. More importantly, your customers will see the same recommendation across these 3  channels for top of mind recall.
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Results to expect – Upto 4X higher CTR and 2.5X Improved ROI when compared to traditional App Marketing efforts

Here’s an infographic that tells you how it works. Get in touch for a detailed demo.

 

Vizury launches Engage Commerce – the growth marketing platform for commerce

Vizury launches Engage Commerce – the growth marketing platform for commerce

Vizury today launched Engage Commerce – the world’s first growth marketing platform custom built for ecommerce.

Engage Commerce powers user level personalised messaging across channels to boost retention and grow conversions.

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VentureBeat released the story yesterday after Stewart Rogers interviewed Chetan Kulkarni, CEO of Vizury at the Postback 2016 event in Seattle.

“Engage Commerce is built to power 1:1 user engagement. Improving engagement is the answer to increased and sustainable revenues” Chetan said.

Engage Commerce takes ecommerce marketing to a whole new level with personalized engagement powered by machine learning.

With Engage Commerce, ecommerce marketers can now,

  1. Send personalized multi product carousel push notifications 
  2. Send user level customised email
  3. Predict and prevent uninstalls
  4. Retarget and re-engage users on mobile, display and social
  5. Send personalized web push notifications

These are just few of the uber cool features. And there’s more.

We can’t wait for you to see this. Get a demo today.

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Engage Commerce to execute a personalized app user engagement strategy via Rich Media Push Notifications.

Koovs.com sees surge in EOSS conversions with Rich Media Push Notifications [Case Study]

You’ve heard these before.

  • 98% of online shoppers drop-off without buying in thier first visit.
  • 8 out of 10 apps are uninstalled within the first 7 days.
  • Just 1/4th apps are used more than once by a user.

An app marketer’s challenge does not end with driving downloads. Engaging and retaining users on the app are equally part of the plan. In fact, in most cases, App marketers are expected to participate in growth targets for the brand. With so much resting on your shoulders, it’s important that you choose the right App Marketing Platform to execute niche growth strategies and start connecting with your users effectively.

Here’s how KOOVS.COM used Rich Media Push Notifications to grow app user engagement and conversions during EOSS this year.

1. About the brand’s challenge: KOOVS.COM is an online fashion brand that caters to all wardrobe needs in India. KOOVS.COM offers exceptional fashion at pocket-friendly prices, delivered to its customer’s doorstep. When the mobile-first wave hit India’s E-Commerce, KOOVS.COM was quick to realise the need to execute a strong app user engagement strategy that focussed not just on bottom-of-the-funnel users but across the sales cycle.

2. Exploring Rich Media Push Notifications: E-Commerce brands can send personalized Push messages and recommend relevant products along with the product image, price. Such notifications are

  • Clickable
  • Scrollable
  • Deep-liked with In-app product views

KOOVS.COM used Engage Commerce to execute a personalized app user engagement strategy via Rich Media Push Notifications.

3. Results: Contributed 11% increase in overall In-app sales with an exceptional ROI.

Koovs_Rich_media_Push_Vizury.png Koovs_Vizury_Rich_Media_Push.png

Rich Media Push Notifications sent to KOOVS.COM app users

Boosting user engagement at every stage of the purchase cycle our platform helped KOOVS.COM generate significant sales and ROI.

 

Cheers KOOVS.COM and we look forward to working together to Engage, Convert and Grow your App users.

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Luxury ecommerce Industry: A varied approach from the quintessential ecommerce method

Luxury ecommerce Industry: A varied approach from the quintessential ecommerce method

Since 2009, Vizury has proven to be a valuable partner to online advertisers by re-targeting website drop-offs and driving them back into the purchasing life cycle and ensuring that the advertiser’s marketing RoI is maximised. Our robust technology and innovative ad serving solutions have seen us divulge successfully into verticals such as ecommerce, flights, hospitality, group–buying, classifieds etc.

As the advertiser’s expectations and competition in this highly dynamic industry increase, the need of the hour is to improvise and innovate. As a result, we have been looking at the verticals with a different mind-set and believe that although few successful factors can be replicated across various verticals, each of them is unique and so should the approach of user re-targeting be! Vizury caters to a varied spectrum in the ecommerce industry ranging from apparels, groceries, luxury, gaming and electronics to name a few.

To give a slight perspective of Vizury’s customised approach to verticals, let us dive deeper into the luxury vertical.

China’s Luxury Market

China is the world’s fastest growing luxury market clocking a growth rate in excess of 70% over the last 4 years and is estimated to account for 20% of the world market with annual sales of $ 539 billion by 2015. With rapidly increasing incomes and attitudes shifting towards the display of wealth, the Chinese consumers are getting increasingly comfortable splurging money on luxury goods which are perceived to be a social status symbol. Thus, the end users in this market have a fond association with brands and are far more brand conscious than for other geo-verticals like apparel or electronics.

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How did Vizury utilize this information?

Hypothesis 1: Brand consciousness is the single most appealing factor to luxury brand users.
Hence, we modified our banners for the luxury industry and ensured that the banners included not just the re-targeted product but also acted as a source of branding for some of the top brands (like Burberry, Coach, Gucci, Prada, Louis Vuitton).

 

Hypothesis 2: Users who visited a product page are already sure of the brand they are looking for whereas users who visit the home page are just interested in purchasing a luxury product but are not quite clear of which brand to adopt.
So, we tried these special brand-based banners for users who would not visit the product page.

 

Hypothesis3: Luxury industry thrives on the principle of exclusivity and the consumers are generally those who like to consider themselves as the rich class or elite; such consumers are willing to pay an extra price for the luxury product and are insensitive to the price.
We included just the final price and chose not to show the discount percentage on our banners.

Results

The results were in sync with our hypothesis about the nature of this industry and the purchasing behaviour of users.

  • Whilst 2.5% users clicked on the brand logo in the conventional banners, the new branding banners resulted in more than 60% clicks on the brand logo!
  • The CTR from these banners were more than 2.5X of the previous banners. Not just that, the alue we added to the advertiser also increased.
  • There was a 2X growth in the number of conversions and an equal growth in the revenue of the campaign.
  • Subsequently, this success story for one campaign was replicated to all other luxury campaigns in China and for our similar advertisers’ in different geographies in Asia and Latin America.

This was just one of the experiments that have been successful and adopt

References

http://www.chinamoneypodcast.com/2013/08/29/china-to-become-largest-e-commerce-market

Say hello to us at marketing@vizury.com

 

[Infographic] Vizury WebConvert helped Virgin Australia maximize returns on Ad spends

[Infographic] Vizury WebConvert helped Virgin Australia maximize returns on Ad spends

Our website retargeting solution Vizury WebConvert helped Virgin Australia maximize returns on online Ad spends. The infographic describes how we approached Virgin’s case and yielded splendid returns!

ANZ Virgin

If you want to re-use the infographic, please write to marketing@vizury.com for terms of use.