SANTA CLARA, California, Dec. 18, 2019 /PRNewswire/ — Manthan, a leading artificial intelligence (AI) powered cloud analytics company, today 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.
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.
- Prescriptive Segmentation
- Look-alike model that leverages thousands of behavioral attributes from the underlying CDP for an accurate target customer list
- Automated segmentation based on customer life-cycle, affinities, RFME, etc.
- Journey Marketing
- Set up milestones within journeys, such as transactions in a month, or spend level
- Split campaigns based on engagement, e.g. people who opened an email, but did not click
- Specify thresholds to cap the number of communications across channels
- Use delay blocks based on duration (such as 10 seconds), or calendar (next Saturday)
Marketers can also set up experiments within the journey, identify the winning message, and measure marketing ROI using test and control capabilities.
“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. Read more here.
Manthan is a leading cloud analytics company pioneering applications for consumer-facing businesses. Manthan excels in the application of decision sciences and AI; its suite of products has been recognized for enabling the shortest path to profit. Manthan’s products use machine intelligence to process decision contexts and respond automatically with actions. Headquartered in Bangalore with offices in Santa Clara, London, Dubai, Mexico City, Singapore and Manila, Manthan’s footprint spans 22 countries. For more please visit manthan.com
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