Today’s customers value personalization and want brands to know more about them in order to provide content of value and interest. The better a customer feels about a brand, the more likely they are to use or recommend it. To achieve this, a 360-view of a customer is the foundation that makes an organization’s relationship with customers’ experiential rather than transactional.
Think of it as a prediction engine. When you look inside you can see:
Their past: How your customers interacted with your products or services before. A 360- view of your customer means that you can see their history with services that you offer which include elements such as product/service activity, recent product views, etc.
Their present: The channels a customer uses to carry out transactions. Being up to speed on present behaviors of customers means you have an idea of what your customers’ interests are.
Their future: By understanding the past and present behaviors of a customer, businesses can take findings and map a future relationship. Using digital intelligence, it is possible to tell if there are upsell or cross-sell opportunities e.g. What ads/content do they interact with the most?
A leading financial institution faced a challenge with activating over 1 million existing customers who had been dormant for over a year on their USSD channel.
We connected our customer data platform to the Bank’s CRM. The customer data platform gave us a 360-degree view of their customers by aggregating and organizing customers’ data for easy visualization, insight generation & decision making. The customer data platform also merged first-party and third-party data of existing and potential customers, leveraging insights from 130million+ telecommunications profiles through the use of Machine Learning and Artificial Intelligence.
We enriched each customer profile with insights and leveraged our Adrenaline solution (a solution that delivers targeted messages via web & non-web channels) to target a segmented customer base via SMS and influence them to purchase airtime via their USSD channel.
Automated messages were targeted at each customer using data points such as income level, mobile data, and airtime purchase history, frequency of purchase, interests.
We achieved a 5% conversion rate on airtime purchases weekly; 150% revenue growth from the USSD channel; The number of transactions per customer grew from zero to four per month and a 73% repeat transactions recorded among first-time users.
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