Toronto, June 18, 2024–(BUSINESS WIRE)–Birdseye, an emerging force in AI-powered retail and e-commerce marketing, has introduced a new feature to its autonomous email marketing platform that enables retailers to liquidate inventory using a one-click artificial intelligence (AI) solution. With this new feature, retailers and e-commerce merchants can use Birdseye to run hassle-free email marketing campaigns that reduce or liquidate stuck or slow-moving inventory while delivering individualized and hyper-personalized offers.
Birdseye's cutting-edge AI tools provide a deep understanding of the complex relationships between inventory trends, pricing strategies, turnover, and customer personas. Birdseye's engineering team has designed cutting-edge models that analyze each customer, interpret the data, predict which approach is most likely to elicit a response, and automatically launch personalized, targeted campaigns for each customer. What's more, the system continuously learns from real-time feedback to improve performance.
The new inventory liquidation functionality has been added to the Birdseye email marketing platform based on the remarkable success achieved by merchants using Birdseye to deploy highly personalized emails to engage customers.
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340% increase in revenue per recipient
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The average open rate is 55%, which is 54% higher than the industry average.
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Click-through rates (CTR) increased by 13%, with an average increase of 957%
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24% increase in click-through rate, 1900% increase on average
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15-20x return on investment
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Dramatic increase in attributed web traffic
These results achieved using the Birdseye platform are significantly higher than the average for retail email campaigns, with the average retail open rate being 35.65% and the average CTR being 1.23% as of April 2024, according to data from Constant Contact.
“Our approach and technology enable retailers and e-commerce merchants to dispose of products more efficiently, easily reach engaged customer segments and generate additional revenue, while AI takes care of the rest,” said Matt Bogoroci, co-founder and CEO of Birdseye.
“Our AI strategy delivers significant advantages, enabling us to set new benchmarks in digital commerce and elevate the bar in customer engagement. Through these efforts, we will continue to lead the evolution of AI-powered e-commerce and retail marketing,” said Aaron Lee, Head of Artificial Intelligence at BirdsEye.
How Birdseye makes inventory liquidation more profitable
For example, retailers who want to sell out their summer collections quickly before fall typically promote them by offering huge discount incentives to everyone in an effort to entice customers to shop. Birdseye takes a different, highly targeted approach that not only preserves margins by reducing discounts, but also drives sales by identifying exact customers and delivering marketing campaigns only to those likely to be interested in the product. The process uses AI to match shoppers with products based on product preferences such as size, color, willingness to pay, and other relevant attributes.
As another example, if a sports apparel retailer stocks 300 blue tennis shirts in size XL, Birdseye will automatically identify and engage customers who love tennis shirts, are blue in color, and wear size XL. The platform will then deliver campaigns for this specific item, color, and size only to those targeted customers. This capability allows retailers to be more focused in their customer communications, providing engaging, personalized shopping experiences and offers that resonate and, most importantly, convert.
“When retailers use our platform to reduce or liquidate inventory, customers have access to personalized deals and brands are able to sell off inventory at more reasonable discounts, so it's a win-win,” Bogoroci said. “BirdsEye has achieved click-through rates of over 20% with retailers because timely, personalized content resonates with customers and isn't just noise in their inbox.”
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“Being able to automatically send personalized offers and emails without having to hire additional staff has been very cost-effective and profitable for our business,” says Sharon Oved, Founder of L'ovedbaby.
“Like all merchants, we're constantly striving to optimize our inventory and sell faster and more, regardless of the economic climate,” said Rick Wittenbraker, vice president of business development for Howler Brothers. “Adding BirdsEye to our stack now gives marketers the ability to make individualized, pinpoint sales while protecting their brand, which is game-changing.”
“Drive is excited to back one of the most innovative teams in the e-commerce AI space today. The market is flooded with half-baked features and products that fail to deliver the expected ROI. Birdseye delivers everything it promises and more,” said Masha Khusid, Partner at Drive Capital. “We look forward to seeing how their inventory management product will impact merchants' profitability.”
Sellers who want to learn more about how Birdseye can impact their bottom line can contact Birdseye at birdseyeglobal.com/getstarted .
About BirdsEye
Birdseye is a leading artificial intelligence (AI) email marketing platform that provides hassle-free, autonomous solutions for the retail and e-commerce industries. By seamlessly blending advanced algorithms and deep industry insights, Birdseye is transforming how brands connect with consumers, driving meaningful, personalized interactions that drive revenue. To learn more about Birdseye, visit birdseyeglobal.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240618804762/en/
contact address
media:
Kali Wise
Boulevard Public Relations (Birdseye)
kari@boulevardpr.com
