Lytics announces Audience Discovery, predictive-modeling for hyper-segmentation, personalization
The solution analyzes behaviors that precede conversion actions to identify granular audience targets.
Customer Data Platform Lytics announced Wednesday the launch of Audience Discovery, a solution that uses machine learning to identify and analyze customer insights for audience segmentation and personalization. It is designed to help enterprise marketers better understand what factors and behaviors influence conversions and eliminate the guesswork from audience building.
“Audience Discovery is a game changer when it comes to discovering new attributes of people for delivering campaigns that actually resonate,” said Jason Widup, vice president of marketing operations at Tableau. “The more we can do to add predictability to our success metrics and efficiency for how we execute campaigns, the more we can focus on delivering an outstanding customer experience.”
How it works? Lytics says its predictive model analyzes the movement of a user between a source audience and a target audience, and specifically, the behavior of the users that drive conversions. These insights can then be used to target specific audiences with personalized messaging that is relevant to those users.
Sample insights. For example, Audience Discovery might identify that people who came from campaign_X are 12.8% more likely to convert to an email subscriber or that people who come from channel_Y’s video ad campaigns are 27% more likely to become highly engaged visitors.
Data requirements. While there is no minimum requirement for the volume of users needed to get started, Lytics recommends that predictive audiences contain at least 1,000 users in order to create a stable model.
There are no limitations on the number of fields that can be tied to a user profile, nor are there any limitations on the number of attributes that can be analyzed by Audience Discovery. Marketers can create granular audiences leveraging limitless attributes.
Why you should care. The conceit is that with the ability to identify and segment hyper-focused groups of people that are most likely to convert based on a specific attribute, you’ll be able to increase conversions at a lower cost. Sample use cases, Lytics suggests, are Unknown to Known website visitors, Highly engaged visitor to Purchaser and Single product purchaser to multi-product purchaser.