Tealium - Best New Marketing Solution

Company: Tealium, San Diego CA
Entry Submitted By: Walker Sands
Company Description: Tealium connects customer data — spanning web, mobile, offline, and IoT devices — so brands can connect with their customers. Tealium’s turnkey integration ecosystem supports over 1,200 client-side and server-side vendors and technologies, empowering brands to create a unified, real-time customer data infrastructure. For more information, visit www.tealium.com.
Nomination Category: New Product & Service Awards Categories
Nomination Sub Category: Marketing Solution – New

Nomination Title: Tealium Predict ML

Technology release September 20, 2019
General availability June 30, 2020

Tealium Predict ML is a machine learning-powered predictive analytics tool built on top of Tealium’s cross-channel, data-rich, and highly integrated CDP – Tealium AudienceStream. Predict ML enables companies to target and analyze the best and/or worst prospects and customers across channels based on business goals. The solution allows companies to choose a behavior - such as purchases, subscription lapses, or call center calls - to predict and implement a timeframe.

The launch also introduced a Behavior Readiness Rating. This reveals if a prediction is ready to be made and lets non-technical users view data to indicate if they have enough to form healthy/unhealthy ML insights on specific behaviors. From there, Predict ML populates customer profiles with a 0 to 1 score on likelihood to achieve the goal. This score is used to drive further action and analysis in Tealium’s 1200+ integrations.

Today more than ever, companies collect massive amounts of customer data. One Tealium customer, for example, is collecting upwards of 5.562 trillion data points. What was once a marketer’s dream is now a task: how can this data power more effective marketing campaigns and drive new customer insights? By using it to anticipate future customer behavior – like sending an email right before a customer makes a purchase. This is where machine learning comes in.

However, the machine learning market is ballooning and some solutions offer bigger risks than rewards - lacking accessibility, collaboration tools, and agility, while also being extremely costly. During these changing times, executives don’t have bandwidth to skim through endless machine learning offerings. Whether they need a simple, low risk entry point or a segue to new tools that optimize current machine learning projects, it’s a pivotal first step to consider a product with fully-connected customer data capabilities readily available to fit into current tech stacks.

Tealium operates across the entire customer data supply chain, leveraging Predict ML to solve primary challenges evident in many machine learning projects today while also revealing a clear route to ROI. Predict ML creates custom-tailored predictions, revealing the likelihood of customer behaviors and the data used to generate them.

Outline the market performance, critical reception, and customer satisfaction with the product or service to date. State monetary or unit sales figures to date, if possible, and how they compare to expectations or past performance. Provide links to laudatory product or service reviews. Include some customer testimonials, if applicable. (up to 350 words).

Tealium Predict ML customers - composed of large enterprises in the retail, education, gaming, travel and financial industries - generated over 40 million predictions in the first 5 days of November. Within just one quarter of release, Predict ML had a paid adoption rate among Tealium’s CDP customer base (contracted companies) exceeding 5% at enterprise-level deals and its in-product interest (customers or agencies engaging with the product) has exceeded expectations, reaching over 700 users.

Today, Tealium’s range of customers are using Predict ML to complete various predictions. Some include:

Define audiences based on likelihood to purchase. For example, only targeting users in a particular segment who have greater than 50% likelihood to purchase.
Retarget users. For example, those who are greater than 50% likely to purchase.
Identify and target customers who have high churn risk.
Predict likelihood to use a coupon and increase bid for customers not likely to use a coupon (because they have a higher value).
Run abandoned cart campaigns (people who left a website without purchasing an item in their cart), but only target users who are actually likely to come back and purchase.
Analyze customers who are greater than 50% likely to purchase for insights like common characteristics or behaviors.
Identify users likely to create a baby registry for targeting.
Identify and target users likely to join loyalty clubs.
Identify and target users likely to apply for a credit card.
Identify and target users likely to make a second deposit into their account

Amin Foda, director of marketing infrastructure at Monash University in Australia, shares, “Using Tealium Predict ML helps us build real-time audience attributes based on their likelihood to take an action and engage with them on the next best conversation across all identifiable channels at the right moments.”

Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words).

Press release announcing Tealium’s general availability launch: https://www.prweb.com/releases/new_tealium_predict_machine_learning_solution_helps_marketers_proactively_understand_cx_data_to_deliver_roi_faster/prweb17226146.htm