Convizit is on a mission to bring context to website analytics – AdExchanger
One click can only tell you so much.
Suppose someone clicks on a webpage 10 times in a row. This could mean the person is a super annoyed rage clicker who can’t find what they want – or a customer with a good experience clicking through multiple product images before making a purchase.
Click tracking doesn’t give you the full picture because you don’t know what someone sees when they click, said Steve Glanz, CRO of Convizit, an analytics startup that uses AI to collect and contextualize web event data.
After structuring the data, Convizit’s tagging technology delivers it to third-party tools used by the site, such as a customer data platform or a BI solution.
“Implementing these tools can be a long and difficult process,” Glanz said. “We’re trying to make it easier and faster so you can implement them in a day or two.”
Convizit was co-founded in 2017 by CEO Daniel Bashari, a former data intelligence officer in the Israel Defense Forces. Glanz brings ad tech experience. He founded and sold multi-device vendor Crosswise to Oracle for $50 million in 2016.
After raising a $5 million funding round from Israeli venture capital firm Pitango in March 2020, Convizit, which has 15 employees, is raising its Series A now to grow the team.
Glanz spoke with AdExchanger.
AdExchanger: Is the site analysis stopped?
STEVE GLANTZ: There are a lot of problems with the current process.
One is the time it takes to label a site. And most of this work is still manual.
You need to define the data you want to collect, involve engineers and often an external consultant, agency or system integrator. Then you have to check that it was done correctly and if you make any changes or something breaks, you have to start the whole process again. It’s not a one-time thing.
On top of that, a lot of the data collected lacks meaning or what we call context.
What do you mean by context?
I may know if someone clicked add to cart, but what did they see on the page when they did? Did they see a message that the product was on sale, out of stock, free shipping offered, certain colors not available?
If you don’t feed your tools with the right data, you miss steps in the funnel and end up trying to do personalization based on high-level metrics rather than an understanding of what users are doing and seeing. Actually.
Who are your clients ?
We see the most traction with anyone doing anything related to website event data, from product analytics tools, CDPs and marketing automation tools to agencies and systems integrators that help their customers to implement these products.
Our strengths are e-commerce, retail and SaaS products.
SaaS companies in particular don’t focus on how people use their product, and some actually don’t have a clue on that front.
Are e-commerce companies ignorant?
No. But outside of the biggest companies, they really don’t have detailed data. If you have a 10-person team that only focuses on tagging, that’s one thing. But most companies can’t afford it, and it’s even hard for a lot of big companies to keep up.
How does Convizit’s technology work?
Our technology is based on two pillars: automation and intelligence. It’s easy to capture a lot of data, and it’s easy to be smart about the data you capture if you’re doing it manually. But it’s hard to do both; And that’s what we do.
Clients put our script on their website and once our algorithm has had time to learn the site and see real traffic, we create an output for each event with a name for each. We also do what we call smart event grouping, which means we don’t just look at how an element on the page is coded, we understand its function and can group elements by function even if they are located in different areas of a site.
We also provide continuity tracking so that small changes to a website’s user interface, such as changing the color of a button, do not interrupt the tracking mechanism.
But one of the most important parts of our technology is our ability to understand context and how different elements on a page relate to each other, so when I tell you that a user has done X, you know everything the user was looking at during the action-relevant time.
Devil’s advocate, why not just use Google Tag Manager?
If you have a simple site, like a three-page restaurant site or a law firm website, you don’t need us and Google Tag Manager is perfectly fine. But if you’re a dynamic site that changes all the time, you can’t manually tag your website. Google Tag Manager is not designed to scale on a complex site. It’s not automated at all.
How does the cookie situation affect you?
We only process a company’s first party data, so we are not affected by what happens to the cookie. But we do allow our customers to send us their client IDs for known users, which is important for multiple use cases, but especially for CDPs.
When you sold Crosswise to Oracle in 2016, it was still the heyday of cross-device. How did life change internally at Oracle in 2018 after GDPR took effect?
I can’t say too much about what happened internally at Oracle, but there was definitely a time when everyone was really nervous about GDPR. Although things seem to have calmed down again, there was a moment between when we sold Crosswise and when I left Oracle two years later when it was a very, very big deal.
This interview has been edited and condensed.