Definition: In the context of personalization, we use the open rate to measure the newsletter's effectiveness, where the subject line is personalized. The open rate is calculated by dividing the total number of emails sent with a personalized subject line in the campaign by the number of emails opened.
Note: The open rate can is used in email newsletters. It indicates the added value of personalization in case the subject line is personalized compared to the non-personalized version of the subject line.
Measurement unit: Percentage, % (#email opened/#email sent with personalized subject line)
GMV stands for Gross Merchandising Value or Gross Merchandising Volume
Definition: The value of conversions 'through-recommendations'. A conversion is considered to be generated “through-recommendations” when the recommended product is purchased within a specific period and as a result of clicking on a recommendation.
Note: GMV through recommendations is a useful KPI to compare two or more personalization engines' performance in terms of revenue attributable to the solution. It's typically used for comparing product recommendations.
Definition: Value of the total revenue of Yusp's customer.
Note: Considering the total revenue of our client is useful for determining the personalization engine's added value. For example, we can compare the total revenue of a non-personalized website and a personalized website.
Definition: The number of recommendations resulting in content views - where at least 10% of the content's length is viewed - divided by the number of recommendation requests.
Note: If the goal is to drive content consumption, this metric is important implicit feedback to the algorithms about the quality of recommendations. The 10% limit of the content length secures that we exclude clicks on clickbait type content and unintentional clicks.
Definition: The number of recommendations resulting in content purchases divided by the number of total recommendation requests (i.e., the user purchased an item because she clicked on it in a recommendation widget within a specific period).
Note: Like in eCommerce, this KPI is used to qualify the personalization engine's impact on a transactional type streaming business model, typical of telecommunications companies.
Definition: Similarly to the 'number of article pages viewed from recommendation' KPI, this absolute measurement counts the number of article pages opened by clicking on a recommendation, but normalized by the number of users receiving the recommendations and calculated within a specific period.
Note: This metric is used to compare two or more personalization engines and their relative impact on user engagement in the News and Publishing sector. The time frame is usually the duration of an A/B-test.
Measurement unit: Real number (#article views from recommendations/#users)