Enables B2C Marketers Algorithmically Discover the Most Relevant Segments, and Nurture Them to Maximize Customer Life-Time Value
Manthan, One of the leading artificial intelligence (AI) powered cloud analytics company, announced enhancements to its Customer Marketing Platform, to further empower marketers to address cross-channel customer journey scenarios in a targeted manner.
B2C marketers are constantly looking for more efficient ways to communicate with their customers, and influence them during their micro-moments. The latest product release solves this by seamlessly combining the activities of micro-segmentation and journey orchestration.
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Once the marketer defines the goal, marketing budget and number of customers, the algorithm predicts audience segments best suited for the goal. This is done by scientifically using knowledge of their customers’ past behaviour and predicting their response. The algorithm looks at the existing star customers and identify others who resemble these stars, but currently are not spending at the same potential. This identified micro-segment is used to set up multi-touch campaigns that take their real-time behavior into account. Such campaigns can be run for households aggregated in the Customer Data Platform (CDP), or for individual customers.
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“A golden customer record is the basis for personalized marketing, and B2C businesses are now re-thinking their segmentation approach. For example, one of our clients from the fast fashion specialty vertical executed a personalized ‘holiday gifts’ campaign this year. They are influencing customer journeys and driving higher revenues by customizing gift recommendations for different spend profiles,” said Sivakumar Hariharaiyer, SVP and Head, Americas at Manthan. “Similarly, a large restaurant chain we work with has moved from segmenting customers using the traditional RFM method, to machine learning driven behavioral segmentation, leading to incremental sales.”
Manthan will be showcasing its Algorithmic Customer Experience and Artificial Intelligence capabilities at booth #5747 of the National Retail Federation (NRF) Conference & Expo, January 12-14, 2020 at the Jacob K. Javits Convention Centre, NYC. To book an appointment with their experts, get in touch today. Manthan recently announced a strategic alliance with RichRelevance, a market leading personalization platform.
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