How AI & Cross Selling Can Drive Bigger Baskets
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This presentation is from Affiliate Summit East 2018 (July 29 - July 31, 2018 in New York). Session description: How AI is having a huge impact on marketing. How presenting the cross sell opportunity to your visitors can grow basket size. How AI can harness impulse, affordability and improve AOV.
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How AI & Cross Selling Can Drive Bigger Baskets
- 1. AI & Cross Selling WINNE R
- 4. Price Performance ratio doubles every 18 months
- 7. 1. Drive more Revenue from Cross Selling
- 8. AI Cross Selling Platform
- 9. What is Dynamic Cross Selling? ▪ Algorithmically generated product sets ▪ Real time refresh based on data, stock & behaviour
- 10. Does it Work? ▪ 30,000 SKUs ▪ 250,000 bundles ▪ 3,000 daily changes ▪ +14% Revenue Uplift
- 14. ▪ Neural networking ▪ Individual experience ▪ Designing for voice AI Get the Look
- 17. 2. Drive more ROI from Content
- 19. “Book before Monday” More effective than “50% Off” “The AI took away all of the bullsh*t. We are no longer led by human ego or human bias but by numbers and results.” Virgin Holidays
- 23. 3. Targeting Based on Emotion
- 26. @srisharm
- 29. ▪ Index emotion ▪ Emotional ‘lookalikes’ ▪ Emotionally similar consumers & moments Emotional targeting
- 30. “AI is more important than fire” Sunda Pichai, Google CEO
Notas do Editor
- future idea: change to rotating slide with quotes
- why did they do it?
- why did they do it?
- why did they do it?
- Google Assistant - Voice or Conversational Commerce Show of hands - how many of you have seen the video of google assistant booking a hairdresser? Deepmind have really nailed text to voice with a human quality voice + recognition
- but in conversational commerce, here’s Google’s play a user buys something in google assistant it gets added to their shopping list on google express if they don’t buy, it shows in sponsored ads in google shopping - remarketing so again, google have seen this wide open opportunity. said another way, consumer problem, in voice/conversational commerce and their core technology to solve this is AI. in their assistant and within their google shopping algorithms So if we ask the question, what will AI bring for performance marketing? The simple answer is
- quotes such as ‘results beyond imagination’
- We know retailers are very poor at cross selling We know that what retailers really want is bigger aov and lifetime value. We are using AI and specifically neural networking to solve this and we are trying to do that for retailers on-site, in-marketing and in-store
- the nexus is this - what amazon shows on every product page product bundling drives 8% rev equating to 14 B /yr
- Find what they want quickly without leaving the page Configure it - size and colour Buy We use 25 sub modals of neural networking to do this Individualised - personalisation and discounting Designing for a world without screens - voice
- Our platform is for on-site but also in marketing Here we’re helping Bareminerals take 2 bites of the cherry - exposure for a single product but also a bundled product
- Our platform is for on-site but also in marketing Here we’re helping Bareminerals take 2 bites of the cherry - exposure for a single product but also a bundled product
- quotes such as ‘results beyond imagination’
- The focus on one problem - how to make headlines more effective in email marketing driven by AI NLP experts work with several brands there’s one aff business there - wowcher
- Virgin holidays made the assumption that a discount in the headline (economic value) was more powerful that anything else for years Actually the emotional driver of urgency (pain or pleasure biggest motivators) was more powerful. And you can read what Virgin Hols said
- Really interesting experts in natural language processing ie reading text and understanding meaning
- one of their first solutions was for listed companies to be able to automate report writing based on analysing market data. which is really cool.
- Now, they are looking at areas of automating descriptions for products for ecommerce. if you go to automatedinsights.com gallery you can actually see the NLP in practice taking effectively product feeds and converting them into text descriptions. Saving hundreds of thousands in copy writing fresh content and improving roe from it Effectively using NLP and a little text to automate rich descriptions.
- one of my favourite areas of AI is an area known as emotional AI or more accurately affective computing
- This is the annual Gartner Hype Cyle It shows us where a new innovation is in the cycle from idea through to mainstream use Affective Computing is still 5 years + away but super interesting and used in some cases https://datafloq.com/read/2016-hype-cycle-emerging-technologies-about-data/2243
- never mind is a game that responds to bio feedback. in this case, it reacts via your webcam to your emotions. if you get stressed, the game gets harder. if you relax, it gets easier
- in a more commercial context. a market leading company is Affectiva. They have analysed over 6m faces across the globe
- you remember this campaign ? well before it went viral, Evian predicted that it would go viral Affectiva have a product called Affdex which was used to study spontaneous facial reaction of 2600 faces to 40 viral ads in social media. Their model then predicted this Evian campaign would go viral. Pretty cool
- Likewise the technology can be used to analyse facial responses in outdoor media campaigns to change what is presented based on the person’s mood. So a holiday if the person is looking tired out. Although i think this is a bit too minority report
- So where’s this going and how will this be relevant for us in performance marketing so how many of you use google adwords? well i expect we’ll be emotionally targeting customers in google adwords the signal of your emotional state will come from google assistant and how you sound and what you say there will be an index of emotion lookalikes just as we have interest based lookalikes which means we can target based on emotional state and let’s be honest, why buy because of how we feel. not because of features of a product i just think this is the most incredible field happy / sad , excited / unexcited target people who are sad with weekend ideas or sunshine ideas
- AI is going to power everything it’s up to us in our businesses to identify opportunities or problems we see and look to technologies such as AI to create solutions that are market leading question is where is the opportunity or problem that you see and how can AI be used to solve it …to make you more money, save cost or drive innovation Thank you
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