Webinar : Mastering AI-Driven Personalization : Monetate & Club Monaco
During the webinar
We will cover some tests that I have produced at Club Monaco that utilize Monetate’s AI (artificial Intelligence). The content we cover will show success in utilizing machine learning to offer customers a 1:1 experience and surpass our KPIs. I am proud to be part of a team helping to provider our customers with the same personal touch that they receive at all of our retail locations with the convince of the online experience. Along with representative creative, strong content, and technology, we are getting closer to a 1:1 personalized experience for all of our customers. In the future the Club Monaco experience will continue to evolve and offer the best of class shopping experience online. Please visit the Club Monaco website and experience it for yourself. If you are new to the Club Monaco brand you can sign-up for 15% off your first online purchase.
Mastering AI-Driven Personalization Details
Original Webinar Air Date:
Title: 2017 Imperative: Mastering AI-Driven Personalization
Date: Tuesday, March 28, 2017
Time: 12:00 PM Eastern Daylight Time
Duration: 1 hour
There will be a Q&A at the end of the presentation so please send your questions and we will be happy to answer them all!
Watch Full Seminar Here:
Updated Q&A Questions from Zachary Martz, Club Monaco:
Q: Based on what you learned in your experiments, where else will you use The Engine?
We have further plans to place the correct offers and promotions in front of customers when and/or if needed. Additionally, we are hoping to recommend more of our editorial content to customers organically on-site that is relevant.
Q: In what ways does using The Engine change how you do your job?
The Engine has allowed us to make more strategic decisions directed towards KPIs rather than decisions based on setup bandwidth and the potential need for constant monitoring.
Q: Can you talk more about how you were able to reduce dependance on price promotions in your email sign up experience? Where else do you anticipate being able to reduce dependance on discounts?
We are finding that providing the correct content at the correct time is far more valuable than showing arbitrary discount incentives. Customers loyal to the brand are looking for our guidance on products and style, rather than incentivizing them alone on the site to hunt for discounts.
Q: In addition to improving conversion metrics, what are some other benefits of this approach for your team? Does it create less work for you or more?
Before we would closely monitor an experiment for anything immediately detrimental to the business and take action accordingly. With the AI technology in place, the system automatically takes an experience out of favor when it is deemed a poor performer. Additionally, if the habits of customers changed and the previously poor performer is now excelling, the AI would bring it back into the mix. The time consuming analysis and constant retest factor is no longer a part of the process. AI decisions have also provided interesting insights into the customer groups that are good performers in an experience.
Q: In addition to the data you are currently using, what else might you want The Engine to access?
Currently we are only using online data to optimize the AI but we are hoping to have brick-and-mortar or marketing channel specific data ingested to make better decisions.
Q: How much of effort/time goes into getting the data in place before you starting using AI?
The short answer, little time/effort to get the data. We have spent a decent amount of time making sure the correct KPIs and base data is being accounted for consistently/daily in Monetate. When setting up an experience we make sure a goal is identified and then the appropriate data is being collected to show performance. For the most part, standard metrics are used but, through internal review or best practices from Monetate, we make quick work of adding case-by-case metrics/events.