The Role of AI-driven Insights in Delivering Superior Customer Experience

The Role of AI-driven Insights in Delivering Superior Customer Experience

 

By Magic Tu, VP of Product Management, Appier

Customers are inundated with more choices than ever, while the convenience of digital makes it easy for them to switch to competing services through the web or mobile apps. As businesses come under pressure to gain new customers and retain existing ones in this fluid digital economy, many see improving customer experience as the key to coming out ahead. In order to do so, they need to understand their customers a lot better.

Understanding customers better

Defined as the sum of interaction between an organization and a customer, the customer experience isn’t solely determined by capabilities or pricing, but by consistently addressing what matters most to customers. For instance, a frequent guest disgruntled about a slow hotel check-in is likely to leave with a negative experience despite the hotel’s top-notch pool and gym. Yet a fellow traveller with family in tow may retain fond memories after being offered a complimentary bed for his young children to sleep in, even after that same slow check-in.

Over time, the sum of their experiences accrues to a tipping point that can result in one of them leaving for a competing hotel – or staying on as a highly loyal customer. Delivering exceptional customer experience therefore boils down to achieving a deep understanding of what individual customers want and delivering it.

But while the barista at the coffee shop around the corner can be expected to remember a regular’s preference and greet him or her by name, this isn’t scalable for most businesses. The only realistic way for brands to understand their customers better is to analyse customer records and transaction data for insights about individual preferences and general trends. They can leverage these insights to better tune existing services, develop new capabilities, or to create customised promotions that cater to individual customers.

Unfortunately, obtaining a unified view of customer behaviour is a challenge that most organizations struggle to overcome, and the multiple channels through which consumers communicate with brands today further complicate attempts to correlate them.

The power of AI

This is where artificial intelligence (AI) comes in. With the ability to tirelessly and accurately analyze huge volumes of data, AI can help businesses gain a competitive advantage by giving them insights they would not otherwise have. With AI, organizations can move away from a “gut-driven” marketing approach, where a marketer or product manager rely on their instincts, towards a data-driven strategy.

By cross-referencing customer data from a multitude of sources, AI can help build a highly accurate model of your customer base and determine the best ways to reach them.

AI can even take it a step further with predictive insights into the future behavior of your customers. One of the most exciting tools available today to marketers is predictive audience segmentation powered by AI. As part of the larger category of predictive analytics, predictive audience segmentation has the power to help companies identify a target audience with the highest potential for conversion to a sale or click or install, whatever your KPIs (key performance indicators) are.

The most advanced predictive audience segmentation tools look at behavioural patterns, collected from customer databases as well as from the internet, and combine them with demographic data to identify trends to single out the most promising leads. It goes even further in segmenting customers. It analyzes data to make recommendations that help you find and grow your target audience.

Commonwealth Magazine, a leading media group in Taiwan, used the predictive audience segmentation capabilities in Appier’s Aixon platform to discover new customers, increasing subscribers and purchases on their website by over 400 per cent.

A data-driven world

There is no question that AI is a vital technology for our data-driven economy. Many traditional marketing promotions are either conceived from past assumptions that are no longer be valid, or which cannot be scaled due to an over-dependence on experienced employees. On the other hand, the judicious use of AI can reveal pertinent insights that can be leveraged to craft more relevant promotions.

Of course, it is important to note that AI is not magic and cannot be expected to solve every business problem. There is also a structured process that that must be adhered to for successful AI application, starting from the gathering of the requisite data. Yet there is also no question that properly implemented, AI with its ability to deliver tireless analysis is a crucial building block to drive innovation and deliver tangible benefits to businesses.

About the author:

Magic Tu talks about the role of AI in driving superior customer experienceMagic Tu is VP of Product Management at Appier. He is responsible for streamlining the process of product development, from product ideation to product launch, collaborating with various teams including R&D, product management, marketing, and business development. Aixon, the AI audience prediction and analysis platform, is the first product that his team has launched.

Prior to joining Appier, Tu was the director of software product management at HTC, a smartphone and virtual reality device company, leading the overall software experience planning for the HTC Sense smartphone and accessories. He also led the program management team that took care of third party vendors and partners including Google, Yahoo, Microsoft, and Nokia for cross-company projects. Before HTC, Tu was the lead developer in Springsoft (now Synopsys), an electronic design automation company based in Taiwan. Tu has BS/MS degrees in computer science from National Taiwan University.

Predictive Audience Segmentation: Take the Shortcut to Identify Your Target Audience

By Junde Yu, Chief Business Officer, Appier

The days of general advertising or marketing campaigns targeting the masses are numbered. Whether you are selling a bank loan or clothing online, you have to know your specific target audience.

The hard part? Identifying the right audience to help you maximize your marketing return on investment (ROI).

Analyzing and segmenting online traffic can be a painfully manual process. Efforts can range from educated guesses to applying simple analysis tools on data. While these will work when you are analyzing a handful of dimensions, the real challenge is when there is complex data or a combination of over 80 dimensions to analyze.

Powerful AI tools to target your audience

Today, one of the most exciting tools available to marketers is predictive audience segmentation powered by artificial intelligence (AI). As part of the larger category of predictive analytics, predictive audience segmentation has the power to help companies identify a target audience with the highest potential for conversion to a sale or click or install, whatever your KPIs (key performance indicators) are.

Predictive Audience Segmentation

Commonwealth Magazine, one of the most influential magazines in Taiwan, experienced dramatic results when it used the powerful predictive audience segmentation capabilities in Appier’s Aixon platform. Not only did the publication discover valuable readers they hadn’t been able to reach in the past, the campaigns exceeded the Return on Ad Spend (ROAS) by 300%, and subscriptions and purchases increased by 404%, compared to KPIs.

The most advanced predictive audience segmentation tools look at behavioural patterns, combining it with demographic data to identify trends to single out the most promising leads. It goes even further in segmenting customers. It analyzes data to make recommendations that help you find and grow your target audience.

An AI-powered platform like Aixon can help you to:

  1. Get an accurate audience picture.

Getting a unified view of customer behaviour is hard, as organizations struggle to consolidate data from disparate sources like the corporate website or mobile apps, as people often consume content on multiple platforms. Also, the data may be piecemeal and disconnected.

Aixon is able to unify an organisation’s data from disparate sources and platform into a single user view. That view is layered with Appier’s own considerable mine of billions of anonymized device profiles in Asia, to provide a better contextual picture of the different customer segments. This precision in data allows for more accurate predictions and segmentations, distinguishing between customers who are likely to churn, refer other customers, or likely to make a purchasing decision. It may even unveil the top revenue generators.

  1. Drive more timely sales or conversions.

You can better reach customers when they are ready to make a purchase as they move through the buying cycle. Predictive audience segmentation can help to highlight customers when they are most receptive to drive more sales or conversions.

  1. Discover new markets.

Predictive audience segmentation technology can help to uncover new markets by analyzing data based on your objectives, and identify the top opportunities within them. The insights from the behavorial data together with the demographic data may identify new target segments. As new prospects are targeted, the algorithms will learn the company profiles and help to further refine your market segments.

An example is Japanese real estate information service provider LIFULL, which had a rich vein of CRM data that was untapped. The company has since worked with Appier to integrate and analyze its vast online and offline real estate databases. LIFULL is using Aixon to cut through the clutter of massive data to drive more effective online marketing programs and to develop new innovative businesses.

  1. Identify users who might leave your service and re-engage them online.

Aixon can use churn forecasting to identify the patterns and trends of customers who had churned or left in the past. Based on that data, it can forecast how likely existing customers may churn or leave your service. This insight can be invaluable to marketing and sales teams who can then follow up and re-engage with this segment of customers.

  1. Boost your revenue by finding the right audience for your advertisers.

By segmenting customers based on their behaviour and demographics, this allows you to find the right audience for your advertisers. This means that marketing, recommendations and promotions can be tailored for different customer segments.

Drop us a line…

Predictive audience segmentation tools can be easily used to boost marketing efforts, complementing existing technologies. Whether you are working on predictive marketing, personalization or just wanting to improve your marketing efforts in general, Aixon’s predictive audience segmentation technology can help you to seamlessly bridge the gap between identifying the target audience and marketing execution.

Aixon’s additional demographic and behavioural data, interests and keyword insights about the audience provides a richer level of detail that can help you to single out the most promising leads, and drive towards a more optimal conversion rate for a higher volume of sales.

Please don’t hesitate to reach out to me or anyone from my team to find out how Aixon can help you take the shortcut to targeting your audience.

About the author:

Junde YuJunde Yu is the Chief Business Officer of Appier, a leading Artificial Intelligence (AI) company. He leads the company’s Enterprise business, which includes Aixon, an AI-based data intelligence platform. Junde joined Appier from App Annie, where he was Managing Director of Asia Pacific. He started at App Annie as its first sales rep in the region and grew the sales and marketing team in the region to achieve very extensive revenues across the Asia Pacific region. It was also here that he acquired an appreciation for how enterprises could derive tremendous value from data.