Powering customer engagement across every channel
The challenge
In today’s ultra-competitive marketplace, customer experience matters more than ever. Consumers have come to expect personalised, relevant and consistent communication – and they simply won’t tolerate a bad experience.
As so many interactions take place online, personalising the experience means making a split-second decision on which action to take, but that is not always easy. System limitations and operational constraints mean that many organisations are struggling to meet expectations.
The solution
Experian’s Real Time Event Decisioning platform can transform the way you market to and interact with your customers and prospects. It allows organisations to listen for and interpret customer events then recommend the most relevant action. All in a fraction of a second.
This shift to customer-centric communication leads to better engagement throughout the customer journey, which then drives increased response and conversion rates as well as improving customer satisfaction and loyalty.
How it works
Real Time Event Decisioning is able to process thousands of pieces of data in the blink of an eye. It uses analytical modelling techniques which are able to extract information from data and use that information to predict trends and behaviour patterns. This is combined with mathematical optimisation to determine what should happen next, at every touchpoint and across every channel. Real Time Event Decisioning is a highly sophisticated solution to determine the next best action, surpassing the capabilities of a rules based decision engine.
Platform features
- Highly configurable application programming interface (API) to receive data feeds from different systems.
- Complex event processing to spot interesting behavioural patterns across data streams.
- Bespoke predictive analytics.
- Advanced mathematical optimisation to determine the next best action – such as which offer to show, product to lead with or journey to follow – while balancing business goals and customer needs.
- Flexible rules engine to define workflows and deliver consistent decisions to your existing channels, such as web, email, call centre or app.
| The problem | How Real Time Event Decisioning can help |
| Communications channels are difficult to manage, with inconsistent messaging and messages being delivered at the wrong time or not fast enough. | Communications are brought in line by taking data from multiple sources and quickly determining the best action or message at each touch point. Customers spend more, become more loyal and spread positive feedback. |
| Customer profitability is too low as many choose not to buy or can’t afford additional products or services. | Communications are personalised using advanced web tracking, modelling, mathematical optimisation and segmentation. Messages take each customer’s situation into account and display appropriate cross-sell and upsell products. Customers have a better experience as they’re not being shown irrelevant products or services. |
Customer experience is poor due to interactive voice response (IVR) calls taking too long to resolve. Customers are frustrated and abandon calls, while call centre operations cost too much and take up too much time. |
Data from multiple channels is used to determine which stage each customer is at, allowing them to skip several stages in the call and get the response they need sooner. Customers are happier and calls cost less. |
Digital advertising is inconsistent. Target audiences overlap across the organisation’s different products, meaning the same consumers are hit many times across campaigns. |
Digital advertising is personalised using web data and predictive modelling across products to decide the optimal product to display to the consumer at point of bid. Customers are more likely to click on relevant ads, so conversion rates increase and ROI improves. |
| Website conversion is low, with too many people abandoning the site before converting. | Customer insights and behavioural information are used to personalise landing pages or follow-up web content, email or other communications, ensuring messaging is appropriate for the consumer. Customers respond better to more relevant content and conversion rates increase. |
Why Experian?
- Our flexible hosted platform provides real-time decisions that support your existing technology stack with an agile approach to adopting real time processes without the need for a full blown system overhaul.
- Our leading analytical capabilities support the development of tailored modelling and optimisation strategies which underpin intelligent decisions.
- Our solution draws on proven optimisation and decisioning software.
- Draw upon Experian’s market leading insight and identification tools to enhance your understanding of the consumer.
Get in Touch
Telephone: 0844 481 5638