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Creating LifetimeCustomers Using Machine Learning
and Predictive Personalization
WEBTMRRW15 – March 10, 2015
Presented by ...
2
What happens
in a “web today”
minute?
3
Millions of
customer experiences
4
But often low quality
customer experiences
5
6
What about
the “web tomorrow”
minute?
7
Accurately anticipate
the needs of customers
– in the moment –
based on
predictive technologies
8
Customers reveal digital
preferences – data – as
they make decisions
“in the moment”
Customers seek relevancy Brands = e...
9 9
Two PredictiveTechnologies
Predictive Personalization Machine Learning
Recognize in-the-moment
behavior and behavior
p...
Steve
Fiona
MarkRichard
Jane
Steve
Fiona
MarkRichard
Jane
Steve
Fiona
MarkRichard
Jane
Auto
Home
Life
CommericalBusiness
E...
11
Machine Learning Using Customer Experience Data
Unstructured Customer
Experience Data Synthesize
Data
Train the
System
...
12
What if you combine
these two
capabilities?
13
API
Predictive Personalization
ML Predictions
14 14
Possibilities
Commerce
Predict the next
product to sell based
on in-the-moment
relevancy and cohort
analysis
Online ...
15
 10 top bank in Russia
 Consumer, Private, Commercial,
Business banking
 Uses predictive personalization to
increase...
16
 Retirement savings fund
 2.1 million members; $75B assets
 Uses predictive personalization in
combination with pred...
17 17
Tips /Takeaways
Don’t: “ask for marriage on the first date”
Do: understand consumers’ basic drives —
“universal huma...
18
18
Tips /Takeaways
Take a phased approached to CX relevancy
.
.
.
.
.If-then
personalization
Simple data merge
Algorith...
19 19
Optimize
Nurture
Engage
Initiate
Radiate
Align
Lifetime
CustomersAssess your organization’s
customer experience
matu...
www.ConnectTheExperience.com
Take simple CXMM assessment
Download first 2 chapters for free
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Christophet Nash at WebTomorrow about Creating Lifetime Customers ...by Using Machine Learning and Predictive Personalization

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Creating Lifetime Customers ...by Using Machine Learning and Predictive Personalization

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Christophet Nash at WebTomorrow about Creating Lifetime Customers ...by Using Machine Learning and Predictive Personalization

  1. 1. Creating LifetimeCustomers Using Machine Learning and Predictive Personalization WEBTMRRW15 – March 10, 2015 Presented by // Chris Nash @chrisnash Senior business optimization consultant & Co-author Connect
  2. 2. 2 What happens in a “web today” minute?
  3. 3. 3 Millions of customer experiences
  4. 4. 4 But often low quality customer experiences
  5. 5. 5
  6. 6. 6 What about the “web tomorrow” minute?
  7. 7. 7 Accurately anticipate the needs of customers – in the moment – based on predictive technologies
  8. 8. 8 Customers reveal digital preferences – data – as they make decisions “in the moment” Customers seek relevancy Brands = experience architects Brands must create relevant experiences by anticipating next best action Customer experience – Decision journeys
  9. 9. 9 9 Two PredictiveTechnologies Predictive Personalization Machine Learning Recognize in-the-moment behavior and behavior patterns Big data technology to analyze the past to predict the future
  10. 10. Steve Fiona MarkRichard Jane Steve Fiona MarkRichard Jane Steve Fiona MarkRichard Jane Auto Home Life CommericalBusiness Extended Multi Auto Home Life CommericalBusiness Extended Multi Auto Home Life CommericalBusiness Extended Multi Steve Fiona MarkRichard Jane Auto Home Life CommericalBusiness Extended Multi Persona Profile Product Profile In-the-moment, predictive personalization web mobile email social apps commerce Act on in-the-moment behavior Steve Fiona MarkRichard Jane Auto Home Life CommericalBusiness Extended Multi Profile pattern match Profile pattern match Single view of individual customer
  11. 11. 11 Machine Learning Using Customer Experience Data Unstructured Customer Experience Data Synthesize Data Train the System Learn Predictions Evaluate & Refine Provide Predictive Data APIAPI
  12. 12. 12 What if you combine these two capabilities?
  13. 13. 13 API Predictive Personalization ML Predictions
  14. 14. 14 14 Possibilities Commerce Predict the next product to sell based on in-the-moment relevancy and cohort analysis Online Advertising Predict the next online ad to display based on in-the- moment relevancy and cohort analysis Content Predict the next piece of content and call-to-action to present in the relevant channel
  15. 15. 15  10 top bank in Russia  Consumer, Private, Commercial, Business banking  Uses predictive personalization to increase sales of consumer loans  Boosted conversion rate for completed consumer loan applications from 4% to 24% PS Bank 4% to 24%
  16. 16. 16  Retirement savings fund  2.1 million members; $75B assets  Uses predictive personalization in combination with predictive data to increase member self-service and grow member satisfaction  Boosted use of personalized online self-services conversions by 250% AustralianSuper 250%
  17. 17. 17 17 Tips /Takeaways Don’t: “ask for marriage on the first date” Do: understand consumers’ basic drives — “universal human truths” See: The Ultimate Marketing Machine 350 CEOs, CMOs, and agency heads surveys of 10,000-plus marketers from 92 countries Harvard Business Review JULY–AUGUST 2014
  18. 18. 18 18 Tips /Takeaways Take a phased approached to CX relevancy . . . . .If-then personalization Simple data merge Algorithm personalization Systemic algorithm personalization Machine Learning personalization 93% of companies using personalization experience sales increases* Econsultancy 2014
  19. 19. 19 19 Optimize Nurture Engage Initiate Radiate Align Lifetime CustomersAssess your organization’s customer experience maturity Tips /Takeaways
  20. 20. www.ConnectTheExperience.com Take simple CXMM assessment Download first 2 chapters for free

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