Netcore solutions on Thursday announced a new portfolio of AI-powered solutions that will enhance its Marketing Automation & Analytics Suite, Netcore Smartech, designed to help the marketer create hyper-personalised customer engagement.
Powered by AI, the suite equips the marketer with the right mix of insights, data, and analytics necessary for business intelligence and helps deliver on ensuring a customer experience that is now business-critical for all brands. Netcore Smartech, powered by AI, enables time optimization, frequency optimization, content optimization, churn optimization and smart segmentation, to increase customer engagement by 10-20% on an average.
Group CEO, Netcore Solutions, Kalpit Jain said, “We are looking at across-the-board digital transformation. With the consumer leaving so many footprints online and offline, the marketer needs the right solution to build a Unified Customer Data Platform and deliver a personalized customer experience. Netcore Smartech, powered by AI, will once again be at the forefront of catering to the marketer’s needs by allowing them to focus on higher-order work while the AI algorithm derives new patterns from unstructured & historic data to customise their communication and channel mix.”
Today more than ever, marketers are looking to increase the efficiency as well as efficacy of their communication in engaging the consumer, as they become the main point of contact across various digital platforms. We live in a hyper-connected world that is changing pace constantly with a constant stream of innovations and an ever-growing consumer awareness fuelled by adoption of technology. This requires brands to connect with the consumer wherever they are, across various channels & devices. AI/ML technologies will play a critical role in empowering the marketer to achieve their goals as well as deliver on ROI.
Netcore Smartech, powered by AI, empowers marketers with:
· Send Time Optimisation, which helps increase engagement on campaign performance by 10-15%, with a direct impact on conversions, and as a result, ROI.
· Content Optimisation, which helps to increase Customer Lifetime Value, with a positive impact on customer loyalty
· Churn Optimisation, which helps marketers identify customers who are most likely to ‘opt out’, commonly termed as ‘flight risk’.
AI, hailed as one of the most watched futuristic technologies, is also one of the most hotly followed trends this year that will lead digital transformation across industries and sectors. According to the Chief Marketing Technologist blog by Martech Guru Scott Brinker, AI is being embedded across almost every product category in marketing technology.
It is seen that 80% of data with brands is usually unstructured, making it nearly impossible to manually derive patterns out of this data. AI uses big data to helps us draw insights in real time, which serves to improve decision-making in complex scenarios. This is what marketers need to achieve greater personalisation to cater to diverse customer journeys and unique user personas.
Use Cases of Netcore Smartech, Powered by AI:
1) Send Time Optimisation: Based on the historic open, click, and browsing time behaviours of the consumer, the AI algorithm analyses the preferred time for the user as per the channel, and ensure that the communication reaches them at that time. This preferred time will dynamically keep getting updated with the changes in user behaviour.
2) Based on the consumer’s historic Transaction data and App and Web browsing patterns, AI helps the marketer identify the most effective messages, and thus, achieve a greater degree of personalisation of brand communication.