Lytics View leverages right data+right data science to boost marketing efforts
The customer data platform (CDP)Opens a new window provider, Lytics, launched its new campaign visualization tool â€“ Lytics View to help marketers accelerate the time to value of the Lytics CDP through a rapid onboarding process. The new tool automates the discovery process across campaigns to provide marketers with insights that will help drive customer engagement and boost conversion rates.
CDPs have become an indispensable tool for brands and marketers looking to reveal customer behaviors to accurately segment their user base, identify high-performing content, and automate recommendations that deliver the best experience. However, the company, in its releaseOpens a new window , notes that brands end up spending a big chunk of the onboarding time trying to integrate their CDP platforms.
Given the current pressures of the business environment today, agility is a competitive differentiator. And that’s where Lytics View aims to help.
Lytics View provides a streamlined onboarding process that enables marketers to access AI-driven recommendation in as little as seven days. The tool leverages machine learning to make the data actionable within days, effectively closing the time to value gap.
The company claims Lytics View can help publishers monetize their content better by providing recommendations that increase reader engagement and drive subscriptions. The solution is also designed to enable e-commerce brands to create more relevant and personalized offers for customers. In addition to more tactical applications, the solution can also be used to strategically reduce customer churn and drive digital transformation across marketing teams.
â€œAs organizations fight to stay relevant and competitive in today’s difficult business landscape they need to be engaged in a digital transformation initiative right now, not next year,â€ said Jascha Kaykas-Wolff, Lytics President. â€œThere is a misconception that companies need to complete a 360-degree view of the customer project before delivering on great customer experiences. We’ve discovered that approximately 92 percent of outcome variabilities can be traced to customer activities that can be measured through affinity and behavioral data. That means much of the time that organizations spend collecting, cleaning, and consolidating data doesn’t add immediate value to improve business performance. With Lytics View, marketers can start acting on the insights provided from customer behaviors immediately, and turn that intelligence into personalized digital experiences in as quickly as seven days.â€
Intelligent CDPs: The New Normal?
With its latest offering, LyticsOpens a new window joins the ranks of early movers in the intelligent CDP space. As MarTech vendors shift their focus to product experience, CDPs have become the central theatre of rapid innovation.
While traditional or legacy CDPs took weeks or months to ingest and integrate raw data, their intelligent counterparts can process the same data within days. By leveraging the power of machine learning and artificial intelligence (AI), smart or agile CDPs are able to overcome some of the key challenges of automated data integration.
Over the next few months, we’re likely to see other forward-looking CDP vendors roll out similar solutions that rely on intelligent stitching, advanced customer identity resolution, and probabilistic databases to accelerate time to value.
In addition to improving the timeline for customer data unification, intelligent CDPs also dramatically enrich customer profiles, making segmentation easier and more accurate, ultimately, driving top-line growth.