Its new Streams feature allows automated optimized testing of the incremental effect of one series of multi-channel campaigns against another
As customer data platforms (CDPs) add more capabilities beyond merely storing a brand’s customer info, Optimove has added new functionality to testing the incremental effect of campaigns- by what could be referred to as an incrementality engine.
The New York City-based CDP already offers an orchestration layer that interacting with email service providers, ad platforms and other tools that generate campaigns, also offering methods for testing and fine-tuning a campaign against micro-segments.
They have now launched Streams, a tool that allows for testing an entire strategic approach across channels, instead of A/B testing one email against another or one campaign against another. Streams allow marketers to easily set up a series of one campaign against another, directed at known, existing customers. It designs, essentially, an entire marketing strategy and also has some idea of its efficacy.
While these kinds of competing campaign streams can be set up in other platforms, till now they required manual efforts. But Optimove can now set up these competitive strategies, with its self-optimizing orchestration layer implementing and automatically improving them. Thus an objective is established, or Optimove suggests a KPI for improvement. It thus specifies the sequences of actions in each campaign, and can also assign customers to one of the two streams. So Streams can help to identify:
- The best series of communications for a new target market
- The customers across different campaigns that will lead to the highest conversion rate
- The total impact that all campaigns have on business
The tool thus enables multi-touch attribution varieties to determine which components of marketing spend are the most effective in delivering a sale or desired action. Marketers can now employ incrementality testing across entire strategies, and using Optimove’s Streams that provides a new level of functionality to the CDP category, automatically optimizing them.