February 28, 2017

Advanced Math Will Optimize Marketing If Capitalism Survives

Coherent Path Adds Content Library to Extend Contact Optimization

Business Wire

Cornell.edu defines hyperbolic geometry as “the geometry you get by assuming all the postulates of Euclid, except the fifth one, which is replaced by its negation.“ I’m glad we cleared that up. It’s relevant because Coherent Path uses hyperbolic geometry to find the optimal email time and message for each customer. The general idea is it looks at the long-term path each customer should be led through, rather than just finding the next best message for the particular moment. As they put it, "the machine learning solution analyzes all of a retailer’s email content along with transactional data, determining the ideal email to send to each customer, as well as the most optimal day to send it. The technology suggests the products and categories that are missing or under-exposed for each recipient, resulting in deeper and broader catalog email exposure.” The company has just added a content library that can more easily reuse existing emails. It's another example of automation replacing conventional campaign designs. 

They also just released a survey that found only half of retailers use data from an individual’s past email behavior to select future email messages. Sad! You can download it from http://coherentpath.com/email-marketers-dilemma/

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Criteo Finds 1 in 3 Online Transactions May Be Misattributed Without Cross-Device Measurement

Criteo

Criteo also uses advanced math to optimize marketing programs, in its case doing cross-device matching, buying display, social and mobile app ads, and tailoring the ads to each viewer and context. The company just released a research study that documents the continued growth of purchases on mobile devices and finds one-third of online transactions may be misattributed without cross-device tracking.  Interesting data.

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Havas Global Study Concludes Capitalism Is Doomed. Also, Banks Should Bundle Their Products.

Havas Worldwide

Speaking of interesting data, brand marketing agency Havas Worldwide surveyed 11,976 people in 37 markets and concluded “with a stalling global economy and shrinking personal wealth, changing attitudes about money, consumption and debt indicate that capitalism is quickly becoming bankrupt”.  That seems a bit harsh. They did report that 73% said they’d rather work more and earn more, compared with 27% who would rather work less and earn less. That sounds pretty capitalist to me. Asked about the sharing economy, 51% said it helps people to become successful entrepreneurs while 45% said it takes advantage of workers to keep prices low. Lots to ponder here plus a few practical suggestions..

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