Birdseye, an emerging force in AI-powered retail and e-commerce marketing, has announced new features for its autonomous email marketing platform that help retailers clear inventory using a one-click artificial intelligence (AI) solution. With the new capabilities, retailers and e-commerce merchants can use Birdseye to run hassle-free email marketing campaigns that reduce or clear stuck or slow-moving stock with individualized and highly 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.
- 340% increase in revenue per recipient
- The average open rate is 55%, which is 54% higher than the industry average.
- Click-through rates (CTR) increased by 13%, with an average increase of 957%
- 24% increase in click-through rate, 1900% increase on average
- 15-20x return on investment
- 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 merchandise more efficiently, easily reach engaged customer segments and generate additional revenue, while AI handles the rest,” said Matt Bogoroch, co-founder and CEO of Birdseye.
“Our AI strategy delivers significant advantages, setting new benchmarks in digital commerce and elevating 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 Li, 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,” says Bogoroci. “BirdsEye has seen click-through rates with retailers exceed 20% 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 the need for additional staff has been a very cost-effective and profitable addition to our business,” said 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 allows marketers to make individualized, pinpointed sales while protecting their brand. It's a game changer.”
“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 the inventory product will impact merchants' profitability.”
