Dynamic Yield Bridges Online and Offline Purchase Data for Personalization
Dynamic Yield, the AI-Powered Personalization Anywhere™ platform, announced today the release of its Identified Offline Purchase Data Ingestion capability, allowing brands to import lists of purchases done offline (e.g. in physical stores) and match these records with online identities. This enables brands to run deeper personalization campaigns that are based on offline purchases. This new capability is available in addition to the platform's Data Loader feature, which already allows customers to onboard CRM data, PII user data, content feeds, and more.
While eCommerce has demonstrated a faster growth rate than brick and mortar, online shopping accounts for less than a quarter of overall retail sales. With a large chunk of transactions still taking place offline, there's a vast amount of critical data that is currently siloed from the online experience. With this capability, Dynamic Yield brings offline data online to improve targeting and the quality of recommendations, providing consumers with a shopping experience that reflects their activity in-store and online.
"Today's customers are traversing digital and physical shopping experiences and expect retailers to remember their preferences and past purchase behavior no matter where the transaction occurs," said Liad Agmon, CEO of Dynamic Yield. "Fluidity of online and offline data, therefore, is key to getting it right, and our new capability has made it possible to influence customer action on a whole other level."
Examples of how offline purchase data can be used include:
• Create audiences based on offline purchases, such as shoppers who previously bought a certain number of items in-store and target them with relevant offers to capture sales online.
• Exclude products already purchased in-store from online recommendations to eliminate marketing redundancy and increase relevancy during the shopping experience.
• Augment the data used in recommendation algorithms (e.g. Bought Together and Popularity) by using in-store data of items that are often purchased together, for example.
• Combine offline purchase data with a user's online shopping behavior to create a rich profile of their preferences and interests for more granular targeting.
• Target identified customers and personalize emails based on offline data, such as by highlighting complementary items to those they have recently purchased in-store.
• Export user-level data for third-party applications such as Facebook ads and retarget users based on their offline purchase history.
Identified Offline Purchase Data Ingestion is the latest in Dynamic Yield's efforts to enrich its customer profiles. Part of a larger investment in its Customer Data Platform (CDP) capabilities, the company plans to expand its product offering in onboarding, consolidation, and activation for the delivery of highly tailored experiences across the entire marketing stack.