Companies with a large and growing inventory are particularly well-suited to AI-powered marketing. Near-endless product permutations are possible, far beyond the capabilities of any team. Whereas merchandisers might previously have matched categories against audiences, for example, a machine learning algorithm will match at the most granular level available: individual against product, informed by every data point held. With the right technology, ingesting new SKUs is immediate, with machine learning driving revenue from day one.
But Average Order Value and other financial metrics aren’t the only KPIs that matter. Marketers and merchandisers bring the insight and knowledge to tailor the presentation of these algorithmically-driven product selections so that other objectives can be met, for example:
The need to respect commercial agreements around product presentation (don’t show product X against product Y),
The desire to pursue long-term brand equity at the expense of short-term revenue (don’t surface final reductions at the same time as the debut of a new collection).
This is achieved through rule engines, weighting and scoring, and prioritization of campaigns themselves – all of which can be manually configured by those who know their customers, suppliers and market.
What is Episerver Personalisation
Episerver personalisation goes far beyond traditional rules-based personalization. As marketers and merchandisers we want to know each individual customer at an intimate level, so we can ensure the right product or content is presented at the right time. This is obviously hard to achieve from a single browsing relationship especially if left to marketers or merchandiers to think up and maintain all the rules necessary to achieve.
This is where Episerver's “autonomous personalisation” can assist, bringing predictive analytics through its 100+ machine-learning algorithms to build dedicated, specific targeting for each individual customer. Episerver personalisation does this by understanding in real-time the customers intent, then engaging the customer by leveraging the product and content catalog within Episerver Commerce and CMS to deliver contextually relevant information.
We're extremely excited by opportunity that the new AI-power Episerver Personalisation presents to Australian and New Zealand merchandisers and marketers and can't wait to begin architecting solutions around this technology.