Qubit the pioneer in delivering context-driven customer experiences, announces the deployment of its machine learning engine as part of its industry-leading digital experience management (DXM) platform, along with several major updates. This demonstrates continued investment in the company’s technology, having completed a $40m Series C funding round led by Goldman Sachs earlier this year.
Built on its new Qubit ML engine, “opportunity mining” empowers marketers by automatically identifying and prioritizing customer groups by their largest revenue opportunities, using predictive analytics and cutting-edge unsupervised machine learning methods. These customer groups, or segments, are surfaced to Qubit users in priority order, ready to deliver highly relevant and personalized digital experiences. With these predictive capabilities, organizations can now focus on the segments that warrant the most attention, rather than randomly engaging specific customer segments with meaningless experiences.
“For companies to succeed, they need to build their businesses around the customer,” said Graham Cooke, CEO and founder of Qubit. “We’re seeing continued change in how consumers interact with brands. The need to build a more complete customer understanding, and to have a robust and agile technology platform that helps deliver the right experiences, is imperative.”
“Qubit ML is poised to completely change the customer experience game, in different ways, across different industries,” said Bud Goswami, head of data science at Qubit. “With opportunity mining, we’re delivering untapped potential. Qubit picks the best customers to target so that marketers can focus on the quality of the customer experiences.”
In this latest release, Qubit has also streamlined the deployment of high-value “programmatic experiences.” Based on AB testing analysis of over 2,000 ecommerce experiments, these context-driven experiences such as abandonment recovery, social proof messaging, and product recommendations, are known to drive as much as 24x increase in revenue per visitor uplift, as compared to traditional optimization initiatives. To support this, Qubit also addressed a critical collaboration challenge facing organizations. Through a new experience design workflow, business users can define and control the rules for many advanced digital experiences and then bring in developers to easily customize and action when ready. This reduces friction between departmental silos and creates a proper balance between ease of use and power, ultimately resulting in greater velocity of experience deployments.
Many other enhancements demonstrate Qubit’s ability to help businesses understand their customers, including increased support for seasonal or time sensitive customer segments. Users can now easily create segments taking into account key moments, ranges of time, or look back historically for specific events, such as Black Friday, summer sales, or when a customer hasn’t shopped for 90 days or more.
This update follows on the successful spring release that included Qubit Live Tap, which gives companies direct and immediate access to all customer data in Qubit Visitor Cloud. Businesses, like Victoria Plum, the online-only designer bathroom company and one of the UK’s fastest growing retailers in 2016, have gained key insights to understand and influence their customers.
“At Victoria Plum we use, and have used, a whole host of business intelligence, and reporting tools, hoping to gain valuable customer understanding,” said Patrick Dobbs, technical architect at Victoria Plum. “Live Tap is now the best way we’ve found to get customer insights every day. Nothing else gets close in terms of freshness and flexibility. Armed with these capabilities we’re now looking to the future, to build out real-time dashboards, as no other reporting tool can update as quickly.”
Added Cooke: “This announcement demonstrates our commitment to power more meaningful customer experiences. Connecting the dots to accomplish this is hard and yet we increasingly make it look easy. With every release, we help businesses better understand and influence their customers.”
All enhancements are expected to be available in November.