Fenix Commerce launches a suite of measurement and recommendation tools further maximizing incremental revenue and margin gains for ecommerce brands
Crucially, incrementality measurement remains possible even after the experiment is terminated, given that the engine is powered by session-level traffic splitting technology and Machine Learning estimating the counterfactual conversion rate under a control/standard checkout experience for each session. A secondary ML model corrects for observed differences in actual and modeled conversion rates, and model drift in the correction factor alerts the systems automatically, kicking off a fresh round of experimentation.
Compared to traditional A/B testing tools, Fenix Incrementality Engine offers a number of distinctive advantages:
1) The split test is run at much lower cost to the retailer then traditional 50/50 split tests, and is administered through API-based traffic splitting without any development cost to the retailer
2) The incrementality engine will always measure key metrics including incremental conversion rate increase, even when no split test is running
3) The incrementality engine measures the lift in the full conversion flow, including checkout pages, where third-party tools do not work without limitations, particularly in the Shopify ecosystem
4) The incrementality engine offers business-level recommendations that can yield millions of dollars of additional revenue increase, for example incremental increase to conversion rate and revenue if shipping service is upgraded
The launch is set to significantly expand Fenix Commerce's position as market leader in the pre-purchase delivery experience.
Akhilesh Srivastava, CEO of Fenix Commerce, emphasized the significance of doubling down on innovating further Fenix’ pre-purchase product suite, stating, "Fenix has always been focused on bringing profitable revenue growth to ecommerce brands and retailers with its unique product offerings including dynamic delivery dates, order routing, and carrier rate shopping. Now, our customers can track day-to-day dollar gains our technology yields, and the same technology can be used to tailor our technology to the exact needs of the retailer to dynamically change shipping spend and delivery experience to maximize revenues, based on the tool’s recommendations."
Fenix’ customers note that the incrementality engine further sets Fenix Commerce apart in the eCommerce market with its innovative solutions that enable them to continuously optimize last mile delivery operations in service of profit and revenue optimization.
“Fenix’s new incrementality engine gives us a clear understanding of how their machine learning-powered promised date system increases revenue per visitor and drives overall growth. It also offers deep insights into where and when promised dates have the greatest impact, helping us continuously improve performance. In addition, Fenix has made significant advances in A/B testing and causal analysis, pushing the boundaries of what’s possible in this field.” -- Kelly Helthall, SVP ecommerce, KUIU
The incrementality engine is the first of many product launches in the wake of Fenix’ acquisition of Ocurate.
Tobi Konitzer, former CEO of Ocurate who now leads product and innovation for Fenix Commerce, highlighted the increased pace of product innovation at Fenix: “This is the first of many product launches we have scheduled for this year. The way we think about product innovation is measurement first, and then doubling down on innovation that services one goal and one goal only: maximizing incremental revenue and margin gains for our customers. Fenix technology is the first encounter with logistics and delivery during the checkout flow for ecommerce customers, and this is a strategic position we plan on using much more aggressively.”
Akhilesh Srivastava
Fenix Commerce Inc
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