Go Beyond the Campaign with Pega Marketing
Pega's revolutionary Next-Best-Action predictively delivers customer-centric offers that lead to greater engagement, frictionless messaging, revenue, and profits. We help organizations move beyond segmentation and the campaign because our approach manages customer relationships across inbound and outbound channels. Pega constantly evaluates the customer situation with predictive models and your business goals to dynamically recommend the most relevant action, offer, content and channel. With Pega Next-Best-Action, you can take advantage of every dealing or conversation to proactively interact with your customer to build optimized lifetime value.
Marketing has always been about segments and campaigns. But, it's a sloppy approach that no longer produces results. You have to find a customer's moment of need, then shape your offers around that individual while leveraging the data you have.
Our customer, Troy, is on Facebook, posting about his upcoming trip to Europe. His bank, U+ Bank, uses Pega paid media manager, so they understand Troy's habits and deliver a personalized experience.
U+ bank makes an offer to Troy for a platinum rewards travel credit card. Troy is interested, so he clicks the ad, taking him to a Pega-powered micro-site. He wants more information, but, as is often the case, becomes distracted and abandons the application process.
From the marketer's point of view, Pega marketing is able to effectively engage Troy. She sees Troy's personal journey using the customer journey viewer. He started in a paid channel and then moved to an owned one, the bank's website. She's now looking at thousands of historical customer interactions, identifying common journeys that lead to positive engagement. For example, customers who are first engaged on paid channels tend to move into owned web channels and are most likely to reengage after receiving a followup email. The next best action is to email Troy.
She sees the offers with the highest acceptance rates. What's more, Pega marketing uses AI to ensure every interaction is relevant. For this offer, the likely indicators for acceptance are lifetime value, age, and customer type. But, for the platinum plus travel card that we offered Troy, they're different. And because Pega marketing takes advantage of machine learning, this information is always up-to-date, so our marketer is confident that her offers are always personalized for each customer at each stage.
Many organizations struggle to get started with the data they already have, but Pega makes it easy. Our data analyst chooses to operationalize this data by creating a new predictive model. Within seconds, Pega is able to determine the indicators that a customer will accept a given credit card offer.
Many organizations have lots of data but lack insight. Or, they've created advanced models that they cannot operationalize. The world of data science can be quite complex, but it doesn't have to be daunting. After just a few minutes, our data analyst is able to create a predictive model that is immediately usable.
He adds AI to an existing credit card offer decision strategy by adding the predictive model that he just created. He simulates and tests this strategy and sees the results. And because predictive models only look at what occurred in the past, Pega provides the power of machine learning through adaptive models, allowing the application to look at results of real interactions, learn from them, and make better recommendations in the future.
Once again, he tests the results of the predictive versus adaptive models. The only way to get noticed is to personalize. The only way to personalize is through analysis of your organization's data, without the need for an army of data scientists.
Pega marketing makes sense of your data through the use of artificial intelligence to allow you to stand out from the pack.
Product Area: Marketing
Topic: Marketing Automation
Challenge: Customer Retention