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CleverTap Quarterly 2022 Takeaways: Hyper-Personalization for the Win

CleverTap Quarterly 2022 Takeaways: Hyper-Personalization for the Win

To assist marketers in understanding and implementing mobile marketing best practices, we host CleverTap Quarterly (CTQ) — a virtual event that brings together customers and industry leaders in an effort to share tried-and-tested strategies for success. 
At our latest CTQ this May 2022, we tackled how to use hyper-personalization to gain a competitive advantage. Guests and partners shared insights into what hyper-personalization means to them now and how they see it evolving in the future.
Here’s what the second CleverTap Quarterly for this year shared. We hope you had a chance to catch it live! 

1. View From the Top: What’s Driving the Latest Trends in Mobile Marketing & User Retention

Sidharth Malik | Chief Executive Officer, CleverTap
Sidharth Malik shared: “Success requires integrating personalized offers seamlessly into customer experiences. Today’s consumers don’t just want personalization, they demand it.” 
Furthermore, he said: “The technologies of yesterday cannot serve the needs of digital native brands and of legacy companies that aspire to become digital-first.”
What’s driving the trends in mobile marketing: 

    • Cookie-less world: Malik shared: “With the third-party cookies systematically disappearing, it is important that brands and marketing organizations use first party data.”
    • Phygital (Physical/Digital) approach: “As brands deliver new digital experiences that meet changing customer preferences, the next step obviously is to enhance hybrid customer experiences.” 
    • Mobile and social commerce: It’s set to become a big trend in 2022.
    • Hyper-local and language-based personalization 

    2. Keeping the ‘Personal Touch’ in Marketing

    Eli Stein | Partner, McKinsey & Company
    Peggy Anne Salz | Founder & Chief Analyst, MobileGroove
    Eli Stein shared insight from recent McKinsey research “Next in Personalization” showing that: “71% of consumers we surveyed say they expect businesses to recognize them as individuals and know their interests.” 
    Furthermore: “76% of consumers said that receiving personalized communications was thet key factor in prompting their consideration of a brand. 78% said that the content made them more likely to repurchase.”  
    Personalization starts with targeting a specific set of customer opportunities or dig sites. 
    Stein said: “Data is the way to find those dig sites. It’s uncovering the behavioral patterns, the emotive patterns, the shopping patterns that indicate where there are customers that want to be delivered value through personalization.” Data will show what relevant content to send to your customers. It will also give customer feedback — whether they’re engaging with the content or not.  
    The end result: “The revenue lift for companies was between five and 25% versus their peers when they applied personalization well.”

    3.From Listening to Action: Building the World’s Best Retention Cloud

    Anand Jain | Co-founder & Chief Product Officer, CleverTap
    Momchil Kyurkchiev | Chief Strategy Officer, CleverTap

    Kyurkchiev said: “What we’re trying to solve as an industry here is a really, really tough problem. How do you, at scale, create a real-time context that you can segment and personalize on? And we’re talking about billions of users with smartphones around the world.” 
    “I got the opportunity to look under the hood (of the CleverTap platform),” said Kyurkchiev, “and I have to say, as a product person, I was really impressed with what you guys have built. And, Tesseract DB to me is this foundation that enables the next generation of innovation that we need to really deliver to the market and to our customers.”
    Jain shared: “When we looked at Leanplum, we discovered how you’ve verticalized the solution for gaming companies… That was amazing for us, as a company, to realize that you can build products a lot more focused and targeted towards certain verticals.” 
    “Put this all together with the CleverTap platform,” Jain said. ”We bring Tesseract, you bring product capabilities, and we truly will become a phenomenal product for all our customers. So they get 1 + 1 equals 11 in this equation.”

    4. Partnering to Turbo-Charge Growth for Digital Brands

    Scott Pugh | Regional VP & General Manager – APAC, Mixpanel
    Vikrant Chowdhary | Chief Growth Officer, CleverTap

    Pugh shared: “I think Mixpanel and CleverTap, we have similar visions. I mean, our mission is to help companies and help the world learn from its data. We also want to help companies build better products and overall create a beautiful consumer experience for the users of our customer’s products. So I think that we’re very much aligned in what we’re trying to deliver for our customers.”
    “From Mixpanel’s perspective,” said Pugh,”we weren’t able to build anything as sophisticated as CleverTap was able to build. We took the quite tough, but really astute and right decision to actually do fewer things better. And that meant changing our product roadmap to no longer invest in building messaging and engagement technology, and really focus on depth of analytics and user experience for people that want to get access to the analytics. And then to partner with leading technology, such as CleverTap.” 

    5. From Browsing to Buying: How Tata CLiQ Uses Data to Segment Audiences & Fuel Growth

    Mansi Verma | Head – Customer Retention Marketing, Tata CLiQ
    Abhishek Gupta | Chief Customer Officer, CleverTap

    Verma shared how her team ensures they show the right product recommendations to the right shoppers in real time: using events and Liquid Tags in CleverTap. 
    “So any activity that the user is doing on the app, gets passed on CleverTap as events, which we then use for triggers to our automated campaigns. So, for example, if you’re browsing watches or women’s wear and then you drop off, an event gets passed on to CleverTap. And  after 20 to 30 minutes — since you’ve dropped off and you’re not purchasing — an automated communication like a push notification goes out to you that talks about the exact product that you were browsing.” 
    In addition they personalize not just based on the item you were browsing, but also the push copy, the coupon code, and the creative used. 
    “And that’s how we’re trying to do hyper-personalization these days. And CleverTap really helps us in utilizing that capability,” Verma said.

    6. CleverTap Email as a Part of Your Omnichannel Engagement to Drive Hyper-Personalization

    Tushar Pimple | Director of Product, CleverTap
    Pimple introduced the enhancements made to CleverTap Email, allowing customers to send about 120 million emails daily. In fact, in the last quarter alone, close to 11 billion emails were sent using CleverTap Email.

    Some of the latest enhancements to email include: 

    • Enhanced email editor: allows you to build mobile-optimized templates using the mobile view editor. No need to switch back and forth between the editor and the preview board. 
    • Stickers and GIFs: allow you to inject some fun visuals into your emails.
    • Updates to the pricing of email add-on plans: based on customer feedback, we now provide flexibility for customers with varied needs. 

    And here’s what’s coming soon: 

    • AMP support will allow you to send interactive emails where users can shop, engage, and consume content all from within the email 
    • More enhanced dark mode previews, so that you can simulate email rendering on devices that have dark mode on
    • Better provider level reporting to help you understand what is working and what needs improvement at the granular level of different providers you use for sending out emails

    7. Supercharging Rules-Based Marketing to Win at Fantasy Gaming (and Reach Unicorn Status Too!)

    Nikhil Lalvani | Director of Product Management, Dream11
    Jayant Kshirsagar | Senior Vice President – Marketing, CleverTap

    Lalvani shared the effect of hyper-personalization on the Dream11 app: “Hyper-personalization has been supe- critical in keeping our 130 million users on the app and for allowing us to serve them the things that they need at the right time, contextually.”
    Each segment gets its own treatment. Lalvani said: “Everything is contextual based on playing patterns, likes, dislikes, the kind of matches played, et cetera. So we bake all of that in to create this recipe that caters to all these 130 million users.” 
    They use a rules-based engine to send out hyper-personalized communication. But what are these rules and how are they triggering these campaigns using CleverTap? 

    • They identify the persona of each user, and the what stage in the journey they’re in
    • They pinpoint the preferences — players they like, tournaments they participate in  
    • They look at what sports or tournaments their friends are playing 

    And they use all of this in combination to trigger a communication at the right time for each user. 
    Their secret to onboarding new users? Handholding them for up to a month until they exhibit the types of behaviors that their most loyal users showed in their first 30 days. 
    Their secret to handling churn? 

    • Identifying the reasons. What do these churned customers have in common? Lalvani said: “What are the indicators of churn or what can predictably tell me that a user’s going to churn? And we try to course-correct them before they actually churn.” 
    • For the users who end up becoming inactive, they look at past playing patterns, games they’ve participated in, and favorite teams or players. Then they rely on the sports calendar. If their favorite team is playing next, they’ll get a notification to come back to the app. 

    8. Harnessing the Power of Hyper-Personalization to Educate, Drive Inclusion & Ignite Growth

    Christian Carvajal | Growth – Founding Team, Sumer
    Marcelo Zuppardo | Co-Founder & CMO, Guru Investimentos
    Anand Jain | Co-founder & Chief Product Officer, CleverTap

    Sumer is a super app that allows companies to build an ecommerce shop in less than 15 seconds. Guru Investimentos is like the Robinhood of Brazil, allowing users to trade stocks and soon cryptocurrency. But both use hyper-personalization successfully.
    Zuppardo shared: “We use hyper-personalization as a means to educate them about the other types of assets that they can invest in,” essentially recommending assets similar to those already in the user’s account. 
    They also use it to keep users from dropping off during the signup process where opening an investment account requires users to fill in 58 fields. Zuppardo said: “Since most of our  investors are first-time investors, they need, and they feel very comfortable when you help them with a human touch.”
    Carvajal talked about how data allows Sumer to understand their users so they can execute campaigns efficiently in over 15 countries. “We have to understand their behaviors. So for us, even if we have the same product, we have to change the way that we are selling our products,  and hyper-personalization is good for us.”  

    9. What Powers Hyper-Personalization Within Your Retention Cloud?

    Jacob Joseph | Vice President – Data Science, CleverTap
    Joseph shared: “Hyper-personalization is about answering the four W’s: the who or the segment of users you want to interact and engage with, followed by what or recommendations and messaging that will work with them. The next in importance is when, so the best time to engage with them and how frequently. And finally where, which other channels to engage with them on.”
    Joseph talked about the power of Intent Based Segmentation, the machine learning-powered tool that allows brands to predict a user’s propensity to convert. 
    He also tackled the ideal recommendation system and how it should achieve three key goals: 

    • Relevancy: How relevant are your product suggestions based on the user’s profile?
    • Novelty and serendipity: Are your recommendations original? Something that surprises the customer, which could trigger an impulse purchase? 
    • Choice: Do you offer a wide range of up-to-date product recommendations?

    Joseph said: “When you use CleverTap, you achieve these three goals by leveraging the past interactions of users to discover high-quality associations between the items. We use neural networks to uncover such associations and therefore deliver highly contextual recommendations.” 

    10. It’s an Omnichannel World: How AirAsia & Muuv Labs Are Personalizing in Real Time and Improving CX

    Kim Adams | Director of Marketing – Client Manager, Muuv Labs
    Sue Lin Teo | Head of Growth & Digital Marketing, AirAsia
    Peggy Anne Salz | Founder & Chief Analyst, MobileGroove

    So how do you market to customers who are constantly busy and always on the go? 
    For Muuv Labs, it’s getting users to do their workouts. Adams said: “For this, we’re typically using a mix of channels, email, push, and app, of course, to encourage people to get those workouts in.” Past that, it involves recommending workouts to users based on what they’ve done before — or even what workouts they’ve skipped — alongside their activity goals. 
    For AirAsia’s super app, it’s more than just low-cost airfare, it’s also ride hailing, or finding a loan or getting food delivered to your doorstep. Teo shared: “So when we go for food delivery, we know that you’ve ordered chicken rice onboard the flight. So chicken rice will be relevant to you for food delivery. If you’ve booked the flight, we know that the next thing you need is a ride to the airport. So we use these as touch points to personalize the whole journey for the customer.”
    Adams shared a huge opportunity for marketers with access to hyper-personalization tools: “I think a lot of companies, ours included, are focused on just a few pieces of data for personalization. Sometimes the most obvious ones, because they also happen to be the easiest ones. But I feel like a lot of us are just barely scratching the surface. You know, there’s so many things, so many events and behaviors that we do have access to.” 

    Watch the CTQ Recording

    We hope our many customers, partners, and friends of CleverTap and Leanplum had an opportunity to attend the event. For those who may not have, a recorded version is available here. We’re certain there’s lots to be learned from the many industry leaders and experts who joined us in putting on this event and we hope you’ll have a chance to watch it.

    Mobile Marketing is Easier with Expert Guidance

Posted on May 27, 2022