Q&A: Andrew Stockwell, Chief Commercial Officer, RedEye
RedEye is an AI driven omni-channel marketing automation provider, giving brands the technology and strategic support, to deliver exceptional results.
Can you tell us a bit about your background?
I have a marketing degree and completed the IDM Postgraduate Diploma in Digital. I started my career at HP and was involved in lots of the initial ‘.com’ boom transactions. I joined RedEye as a start-up 20 years ago and have enjoyed how this great company has grown, acquired, and developed through that time.
What does your company do? / What is your USP?
RedEye is an AI driven omni-channel marketing automation provider, giving brands the technology and strategic support, to deliver exceptional results. Our USPs are the depth of data we can enable our clients to take action from, as well as our amazing people who are dedicated to providing marketing expertise and help our clients to deliver leading retention strategies.
What’s special about the platform and your approach?
Our platform allows marketers to easily build enhanced omni-channel marketing automation strategies that are bespoke to their businesses. Our teams work closely with our clients, truly becoming an extension of their marketing teams, to make sure they are getting the most out of the platform and gaining maximum value from their campaigns. Because of this, many of our clients successfully drive 60-70% of their campaign revenues through automation.
What advantage does it add?
The average increase in our new client’s campaign revenue is 38% by the end of year one, and this is driven by the customer lifecycle of communications we help brands put in place. Many providers in our space have a one size fits all approach, whereas we really look to make things unique for each client and their business.
What does a product/service implementation actually look like and how do you measure success?
When we first start working with a client we have a dedicated integrations team who will project manage the setup to really help to get a running start for our clients, and ensure they have no downtime in crossing over suppliers. They will focus on that businesses priorities, but also future proof to enable major enhancements to be delivered as they grow. Our Client team will then work as an extension of our clients marketing teams to build strategies which are then built upon moving forwards. By working closely in partnership, we are able to really help our clients as new opportunities and challenges present themselves!
How are retailers using your systems to gain competitive advantage and what does best practice look like? Can you share a case study with us?
AI is an exciting area a number of our clients are getting a huge competitive advantage from. With many businesses haven fallen back into the trap of mass marketing, those clients getting value from AI capabilities such as predictive models, are very much focussed on getting the messages right for the individuals, making them know the journey is personalised to them and that they are hugely valued customers for our clients. allbeauty, a long-standing client of RedEye, utilised our predictive churn model to help them identify which customers where showing signs they might potentially churn. They were then able to automate their reactivation campaign to each individual customer, at the moment that was unique to that customer, rather than an arbitrary business timeframe. By letting the predictive data drive that decision they saw a 415% increase in sales from their lapsing segment.
What challenges and opportunities do you see in UK retail for 2023 / What challenges are retailers facing in 2022?
Obviously we have a massive challenge with the economy at the moment and omni-channel marketing is a very cost effective was of retaining your customers, which is absolutely crucial during periods such as this. We are working very closely with clients to help them lot in all their key customer segments in 2022. We are anticipating another huge peak period which every brand will be fighting for their share of, so we must stive to stand out from others. 2023 will be a period of transition as hopefully we move to an improved period for the economy so the aims will be to maximise those opportunities as they present themselves.
How will you address these challenges and turn them into successes?
A granular view of key segments and how they are behaving will be key, making sure as things change, we can quickly react to these. We promote a lot of testing of new personalisation initiatives, new segmentation tests and the use of dynamic content to keep communications fresh. The most important thing is to keep an eye on your customer data as when we go through periods of change this is the only way to really react to those at the right time and not be late to the party, which can be fatal for brands of any size.
What is on the horizon for you as a company?
We are about to relaunch our product with the largest redevelopment of the core product in our company’s history! This will involve a new UI, enhanced integrations, and even more granular customer reporting. A roadmap of further enhancements will follow on an ongoing basis which our product marketing team will keep everyone updated on.
Any final thoughts?
As we have seen over recent years even during periods of massive instability, people remain strong and come through it all, we need to keep that in mind with this latest challenge and not be afraid to keep pushing boundaries and to keep testing new initiatives to deliver for our brands. Never stand still and wait, we have to go and get it!
To find out how RedEye can help your retail operation, click here.
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