Adaptive Cross-Sale Marketing
Adaptive Cross-Sales Techniques with Composable Enterprise
Companies continue to rely on call center agents as the primary touch point with their customers, both to engage with them and to close on a sale. With customers becoming more informed and adept consumers, call center agents that have access to specific knowledge of the customer can build effective customer strategies and improve their success rates.
Composable Enterprise is an integrated platform that can ingest numerous data sources, run powerful analytics to connect the dots during and across customer interactions, derive actionable sales insights and enhance the customer engagement and sales process. While building data pipelines to collect and ingest massive amounts of data can be complicated, it is still just the first step of any fully adaptive computation engine where the full solution requires federated analytics across disparate data sources. Composable accelerates the development of complex data pipelines and provides the required computation engine for full-scale analytics.
Customer Experience: Financial Services Sector
Composable Analytics, Inc. has partnered with one of North America’s largest financial services and insurance companies with over 60,000 agents employed, services over 20 million customers worldwide. This customer base continuously calls in to their call centers to speak to service agents about their existing accounts. With each call, there is a new opportunity to cross-sell new products to their existing customer base. Through automated analytics that extracts relevant and meaningful information from each call, the firm can mine through the call dialogue and understand if any new information provided by the customer can be developed into a new sale.
Additional information can often times serve as a trigger for a cross-sale opportunity. For example, when a caller calls in to request a change of address because of a new home purchase, the call agent tends to the task of changing the address on the customer’s account. However, one can also use the additional information of a new home purchase to trigger a conversation on purchasing a life insurance product, knowing that customers tend to purchase life insurance shortly after the purchase of a new home. It this way, what was in the past just a passing remark by a customer can now be used to build an effective cross-sales marketing strategy.
To operationalize this approach, data must be orchestrated across a variety of systems, speech must be converted to text with the resulting data cleansed, curated and analyzed, and finally, an action must be triggered based on pre-defined rules. Composable Enterprise, with its powerful data ingestion, processing, enrichment and distribution architecture, allowed the firm to fully operationalize this data orchestration and analytics workflow. Much of the required tasks and features are effectively built-in including: connecting to VoIP providers to retrieve call information and logs, speech-to-text processing utilizing local or cloud solutions, text analytics and CRM integration.
Composable Enterprise was successful in serving as an end-to-end platform for call centers, seamlessly introducing adaptive cross-selling techniques into the call center workflow and profoundly transforming the call center operations. Specifically, Composable Enterprise was able to:
- Integrate with hosted VoIP providers, such as 8×8, Avaya and RingCentral, and CRM solutions such as Salesforce
- Utilize local or cloud solutions (e.g., Google Cloud Speech API and Bing Speech API) to convert conversational dialogue from speech to text with high accuracy
- Perform text analytics, including text summarization, topic modelling and term frequency, to mine the conversations for specific keywords
- Use rules-based and adaptive learning techniques to select and trigger specific actions based on analyzed text
- Synchronize across internal CRM databases and other enterprise data to retrieve customer information and develop effective customer strategies
Business Value in Practice
Composable Enterprise has opened up new cross-sales opportunities by connecting disparate data sources, performing advanced analytics and ultimately converting in-bound customer service call centers to a new, cross-sales marketing operations.
Gaining specific knowledge of the customer is key to developing effective customer strategies. Leading companies recognize that all customer touchpoints provide an opportunity to learn about the customer, and that data and analytics can be used to extract relevant and meaningful information to build a complete customer profile.
Composable Enterprise’s ability to operationalize data analytics regardless of data format or structure, and integrate with other enterprise solutions, allows business users to process all types of data through complex analytic dataflows and harness the full power of their organization’s data.
Composable Analytics, Inc. builds software that enables enterprises to rapidly adopt a modern data strategy and robustly manage unlimited amounts of data. Composable Enterprise, a full-stack analytics platform with built-in services for data orchestration, automation and analytics, accelerates data engineering, preparation and analysis. Built with a composable architecture that enables abstraction and integration of any software or analytical approach, Composable Enterprise serves as a coherent analytics ecosystem for business users that want to architect data intelligence solutions that leverage disparate data sources, live feeds, and event data regardless of the amount, format or structure of the data. Composable Analytics, Inc. is a rapidly growing data intelligence start-up founded by a team of MIT technologists and entrepreneurs. For more information, visit www.composableanalytics.com.