Next-best-action is a natural paradigm for making user journey decisions. Traditionally, marketers have taken a one-size-fits all or a heuristic approach for the user journey. One-size-fits-all approaches lack the personalization benefits of other approaches and heuristic approaches, while often an improvement, rely on a fixed set of rules which are not always optimal given a changing customer base and user behavior patterns.
According to a study conducted by Epsilon, 80% of consumers are more likely to make a purchase from a brand that provides personalized experiences. Personalization works. And machine learning is a great technique to use in lieu of heuristic approaches given that machine learning based approaches adapt over time and optimize within a dynamic world.
In this post, we will discuss how marketers are able to create tailored, next-best-action experiences using real-time machine learning to help add value within a user journey.
User Journeys Powered by Next-Best-Action
Vidora Cortex empowers business teams to deliver real-time next-best-action experiences to personalize user journeys at scale. User journeys are characterized by a variety of decision points which are ideally suited for machine learning. Examples include: should I show a registration wall now? Should I show a coupon now?
Next-best-action is a natural way to optimize for user value at each point in the user journey. Cortex can help automatically build these next-best-action decisions to deliver a personalized consumer experience.
There are many decisions that can be made across user journeys. Here is one example of a next-best-action decision of whether or not to show a user a registration wall.
Machine learning leverages past user behaviors to adapt and optimize for the best decision for every user. In addition, leveraging real-time machine learning enables a business to use in-session data to target users, including anonymous and first-time users.
Get Started with Building Machine Learning Decisioning into User Journeys
Our goal with Cortex is to make it quick and easy to create dynamic decisioning experiences like next-best-action and next-best-offer for user journeys (watch a next-best-offer Cortex demo here).
Screenshot of creating a next-best-action decision project in Cortex in order to maximize customer lifetime value within a typical user journey.
Vidora helps marketers and product managers deliver personalized experiences during different user touch points. Please reach out to firstname.lastname@example.org if you are interested in getting started with Cortex for user journey optimization or another next-best-action use case!