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My name is David Geisen. I’m the Chief Digital Officer of MediaMarkt Iberia, which is Spain and Portugal. MediaMarkt is the largest consumer electronics retailer in Europe. We’re in 15 countries, selling more than 22 billion euro a year, operating more than a thousand stores, and have some 65,000 employees, and selling almost three billion euro online. What I found when I joined MediaMarkt last year was basically that we had a very diverse set of different tools that were used for different purposes. So, one for recommendation, one for A/B testing, one for account recovery, one for messaging, and so forth. And connecting all those different tools would have been for some possible, but for other tools impossible, because they were not open, import and exporting all the data points.
So, we tried to find a solution, which reduces all total cost of ownership and also add new functionality, like personalized recommendations, which we were not offering before. Plus, the marketing teams and the content teams should also be able to use a tool, without involving someone from IT with expertise to write code, et cetera. One of the challenges that we face, with regards to our websites and the content that we show there is that we are not connecting yet all the data available from the physical stores, the transactional data, with navigational data from our website and the apps. And the idea with the dynamic yield now is to bring this together and to enrich the content and the products that we recommend on our website, for example. Some new ideas that we are now working on, is basically increase the number of content experiments that we are running, based on personas and different categorizations of the people navigating on our website, as well as including the personalization element into all our email communication, for example that we send out to our customers. One example for exciting use case was our social proof experiment where we had a hypothesis that products that are selling fast could be selling faster and the idea is that we show an urgency message on those type of products, indicating how many we sold over the past couple of hours. And if there is low stock on those products, then we also show this message. So, this helped us to increase the et-tu card and also the average auto value.
The revenue uplift that we currently can attribute to dynamic yield and assuming that we rolled out the experiments to the majority of our traffic is between seven and 8%.
David Geisen, Chief Digital Officer at MediaMarkt Iberia, details how Dynamic Yield is the all-in-one solution the company uses to embolden its marketing team to personalize the digital consumer experience and drive a seven to eight percent lift in average revenue per user.