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Oct 07, 2023

Elevate customer experience with real-time decisioning

SR Khitish

SR Khitish

 Elevate customer experience with real-time decisioning

Decisioning combines the power of data, rules, engagement policies and predictive analytics to make compelling choices regarding what to present to customers, through which communication channel, and precisely when to engage. By harnessing the capabilities of artificial intelligence (AI) and machine learning (ML), decisioning goes beyond conventional channel limitations, enabling smarter interactions at every touchpoint that can adapt and change in real-time. As per Mckinsey’s Next in Personalization 2021 Report, 71% of consumers expect companies to deliver personalized interactions and 76% get frustrated when this doesn’t happen. Not surprisingly, targeted communication that is relevant and useful can create lasting customer loyalty and drive revenue growth between 10-30%. Which is why decisioning resides at the core of how businesses formulate, execute, and refine their customer experience strategies.

REAL-TIME DECISIONING: A CMO PRIORITY

In today’s competitive business landscape, a laser-sharp focus on delivering exceptional customer experiences is imperative. To achieve this, the modern CMO needs to deliver contextually relevant experiences at the right moment in the customer life cycle via preferred customer touchpoints at scale. The process is challenging, nonetheless. Here’s why:

  • Numerous interactions across multiple online and offline platforms shape a consumer’s overall experience. Moreover, modern consumers engage in their decision-making journey at multiple stages, not just at the top of the marketing funnel, aka the ‘Awareness’ stage. To keep pace with customers, brands need to be able to make decisions about how to engage in milliseconds with hundreds of data points across multiple channels.

  • Many organizations do not have digital channels connected to other critical avenues of the customer lifecycle, like sales, service, and agent channels. This is a blind spot because those interactions are crucial to creating robust relationships.

  • Organizations lack end-to-end Customer experience (CX) orchestration capabilities that are real-time and comprehensive across organizational functions, processes, products, and teams.

The CMO has to devise a strategy to build a foundation of customer centricity leveraging technology and data to galvanize business growth. In essence, what is needed is a platform for real-time decisioning that:

  • Delivers real-time next best actions (NBA) across all digital channels

  • Connects all customer engagement points into a unified customer experience

  • Provides contextual offers with a strong focus on empathy for the customer

  • Balances the priorities of the business with the needs of the customer for each NBA

  • Leverages technology to create hyper-personalized customer experiences

  • Uncovers actionable insights from the vast troves of customer data available through AI and decision strategies

Organizations are becoming increasingly aware of the importance of real-time decisioning as, according to a Pega study, 88% of organizations believe that real-time decisioning is crucial to creating a superior customer experience. But only 39% have actually made the investment. Disparate martech and adtech products, lack of system integration and limited actionable data-driven insights make it challenging for them to incorporate centralized, real-time decisioning.

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SMARTER DECISIONS, SUCCESSFUL OUTCOMES, EVERY TIME, EVERYWHERE

At Areteans, we recognize that an integrated platform of people, processes, data, and intelligent applications can consistently deliver successful outcomes in the decisioning process. To achieve this, we offer Decisioning as a Service (DaaS), powered by Pega’s Customer Decisioning Hub (CDH). With DaaS, you can:Make every customer experience hyper-relevantOur solution continuously reads the billions of signals your customers generate. We integrate and analyze high-value data like behavioral data, cross-channel response history, and other contextual information to derive compelling insights that can power real-time, hyper-relevant, and cost-effective customer experiences.Accelerate customer service with next-best actionsWe use always-on insights and Pega’s Next-Best-Action approach, which uses AI to identify the most effective action to take next in real-time. It goes beyond offering products and services to recommending service actions, the best channel to communicate with the customer, messages, content, or tailored campaigns resulting in deeper engagement and higher value interactions. With AI-powered workflows that can resolve customer queries and issues and predict the next-best customer service actions, it can improve customer service workflows and deliver better experiences to customers.Automate and orchestrate at scaleDaaS enables you to automate and orchestrate customer service journeys to provide a unified experience to each customer. Also, it helps you build intelligent business workflows that will enhance collaboration and improve efficiency.DaaS can empower your business to deliver hyperpersonalized and tailored experiences in real-time, transcending traditional boundaries and channel limitations. With DaaS the possibilities for customer satisfaction, elevated CX and business growth are limitless.​​Get in touch with us to gain a competitive advantage with AI-powered, real-time decisioning and deliver in-the-moment experiences at scale.

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