Q&A: Andrew Stockwell, Chief Commercial Officer, RedEye

INTERVIEWS

RedEye is an AI-powered omnichannel marketing automation provider that gives brands the technology and strategic support to deliver exceptional results.

Can you tell us a bit about your background?

I have a degree in marketing and completed the Postgraduate Diploma in Digital from IDM. I started my career at HP and was involved in many of the early transactions of the ‘.com’ boom. I joined RedEye as a start-up company 20 years ago and have enjoyed how this great company has grown, acquired and developed over that time.

What does your company do? / What is your USP?

RedEye is an AI-powered omnichannel marketing automation provider that gives brands the technology and strategic support to deliver exceptional results. Our USPs are the depth of data from which we can enable our clients to take action, as well as our amazing people who are dedicated to providing marketing expertise and helping our clients deliver leading retention strategies.

What is special about the platform and its approach?

Our platform enables marketers to easily create enhanced omnichannel marketing automation strategies tailored to their business. Our teams work closely with our clients, truly becoming an extension of their marketing teams, to ensure they get the most out of the platform and get the most value from their campaigns. Because of this, many of our clients successfully generate 60-70% of their campaign revenue through automation.

What advantage does it add?

The average increase in revenue from our new client campaign is 38% at the end of the first year, and this is due to the client lifecycle of communications that we help brands implement. Many vendors in our space have a one-size-fits-all approach, while we truly seek to make things unique for each client and their business.

What does the implementation of a product/service really look like and how is success measured?

When we start working with a client, we have a dedicated integrations team that will manage the setup of the project to really help our clients get up and running and ensure they don’t have downtime crossing vendors. They will focus on business priorities, but also future proofing to enable major improvements to be delivered as they grow. Our client team will work as an extension of our client’s marketing teams to create strategies that are then built upon moving forward. By working closely together, we can really help our clients as new opportunities and challenges present themselves!

How do retailers use their systems to gain competitive advantage and what do best practices look like? Can you share a case study with us?

AI is an exciting area where a number of our clients gain a huge competitive advantage. As many businesses have fallen back into the mass marketing trap, customers who derive value from AI capabilities like predictive models are very focused on getting the right messages across to people, letting them know the journey is personalized. for them and that they are clients highly valued by our clients. allbeauty, a long-time RedEye client, used our predictive churn model to help them identify which clients were showing signs they might churn. They were then able to automate their reactivation campaign for each individual customer, at a time that was unique to that customer, rather than an arbitrary business time frame. By letting predictive data drive that decision, they saw a 415% increase in sales for their expired segment.

What challenges and opportunities do you see in UK retail in 2023? What challenges are retailers facing in 2022?

We are obviously very challenged with the economy right now and omnichannel marketing is a very cost-effective way to retain your customers, which is absolutely crucial during times like this. We are working closely with customers to help them engage with all of their key customer segments in 2022. We are anticipating another big peak period where every brand will be fighting for their part, so we must strive to stand out from the rest. 2023 will be a transition period as we expect to see us move into an improved period for the economy, so the goals will be to maximize those opportunities as they present themselves.

How will you tackle these challenges and turn them into successes?

A granular view of key segments and how they behave will be key, making sure that as things change we can react quickly to them. We encourage lots of testing of new personalization initiatives, new targeting tests, and the use of dynamic content to keep communications fresh. The most important thing is to be attentive to your customer data because when we go through periods of change this is the only way to really react to them at the right time and not be late to the party, which can be fatal for brands. any size.

What is on the horizon for you as a company?

We’re about to relaunch our product with the biggest major product makeover in our company’s history! This will involve a new user interface, improved integrations, and even more granular customer reporting. It will follow a roadmap of further improvements on an ongoing basis, which our product marketing team will keep everyone updated on.

Any final thoughts?

As we have seen in recent years, even during periods of massive instability, people remain strong and overcome everything, we must take that into account with this latest challenge and not be afraid to keep pushing the limits and keep trying new initiatives to deliver for our brands. Never sit still and wait, we have to go get it!

To learn how RedEye can help your retail operation, click here.