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This week, CleverTap announced the release of its Coeus Data Science Engine that is designed to help marketers drive more targeted, meaningful conversations. Coeus is the god of rational intelligence and query in Greek mythology, one who was able to see beyond the obvious. We were inspired by this name since we developed the engine to foresee user intent. The Coeus engine uses a combination of events you define to predict the likelihood that a user converts. It allows you to then build – and market to – highly relevant intent segments.
In today’s ultra-competitive world, growth marketers spend valuable time and resources identifying the right audience to engage for every campaign. Marketing budgets get wasted on people that would either buy from you anyway or worse, never buy from you! Margins grow thinner with each attempt and it becomes increasingly difficult to justify the ROI on marketing campaigns.
To create attributable pipeline and improve targeting for consistent ROI, your growth team needs to know:
CleverTap’s Coeus Data Science Engine closes this gap by answering these key questions that affect your bottom line. It comes with an industry-first segmentation and orchestration workflow designed to help you drive personalized engagement.
To do this, we combine intent based segmentation and predictive modeling to precisely identify the users most likely to perform an event in the future. What is unique about this new workflow is that it not only tells you “who” and “what,” it also shows “how.”
Here’s how it works.
Often, isolated retention and acquisition strategies lead to marketing efforts that stymie at the first question itself – who are my buyers really?
How do you segment effectively when you have hundreds of thousands of users, each performing unique actions?
CleverTap’s intent based segmentation identifies the most likely user segments to meet a desired goal. It uses machine learning to process user data sets from multiple channels and touchpoints to help marketers determine the propensity of each user to meet a time-bound goal.
Intent based segmentation eliminates false positives (generated when assuming a user is a prospect) by gathering only the relevant signals for a given business goal.
Once you’ve identified which customer segment is the right audience to engage, the next step is to identify what they would like to purchase.
The recommendation engine combines data across multiple channels and touchpoints to help marketers determine a user’s propensity towards a product or item. This helps marketers serve users the right product at the right time so they don’t waste resources chasing an uninterested user.
Combined with intent based segmentation, marketers can truly personalize their messaging by suggesting the most relevant item based on a user’s behavior and interests. For example: which item is most related to a recently purchased item by a user?
More often, growth teams struggle to tie their analytics and segmentation with tools that help them drive their omnichannel orchestration in a single workflow.
A thoughtful engagement campaign should know exactly who to interact with, when, and at which touchpoint.
Once the target audience is identified for each campaign, CleverTap’s data science-enabled workflow allows marketers to simply leverage intent based segments to create a campaign that works best to meet the business goal.
Engage users with relevant, personalized communications to drive higher revenue, conversion, and spend across the customer lifecycle. Reduce churn by reacting to their changing preferences not only in real-time but also at their preferred time.
As a marketer, you know in advance the likelihood of an event and can take appropriate actions to achieve it by allocating the necessary resources.
Take into account user intent when crafting your messaging. You may decide to leave certain users alone while creating targeted messaging tactics for those you decide to interact with.
It provides a means to measure the real value of your marketing operation, so you can directly tie the results with business goals and give credit where it is really due.
There is no guesswork when identifying your audiences since intent based segmentation collects relevant data from billions of interactions such as whitepaper downloads, articles read, and search results, to indicate real-time user interest in a product or service.
Instead of spamming all users with the same message; knowing the intent of users allows you to identify users that are already on the path to conversion so you can skip them altogether, while customizing messages to others that need a nudge.
Increase viewing time per user
Need to find ways to increase the amount of time spent on the app? Send recommendations of content users are most interested in. With our data science engine, you are able to identify which users are most likely to consume what content within n days in the future.
Maximize revenue for weekend lunch orders
Identify segments of users most likely to take the most meaningful in-app actions and those that have a low chance of placing a weekend order. Send a customized campaign to the least likely segment and give them rewards for doing so. Upsell a higher value menu to active users who are likely to return to the app on weekends.
Sell out all tickets to an event
The engine identifies which audience is most likely to purchase event tickets (so you leave them alone). If this segment does not meet the event capacity, you can then engage those that are moderately and least likely.
Maximize revenue for Black Friday sale
Identify users that exhibit behaviors that are most indicative of repeat purchase or those likely to purchase most profitable items and leave them alone while running targeted campaigns on moderately likely and least likely segments.
Prevent app uninstalls
Intent-based segmentation will help answer questions such as which behaviors indicate high vs. low churn rates (e.g., users likely to transact in the first week are more likely to return or engaging users before their point of drop-off).
We’ve spent the last few months working with organizations to identify ways in which to find the most valuable customer segments that matter to their bottom line. We realized that while marketing teams are highly goal driven, their marketing tools aren’t so.
To resolve this problem, we put our technology to work in order to help marketers meet their KPIs and consistently meet their long-term business goals. Our Data Science Engine provides a means to measure the real value of your marketing operation, so that you can directly tie the results with business goals and give credit where it’s due.
Visit your CleverTap dashboard to get started or contact [email protected] to learn more about how CleverTap’s Data Science Engine can drive your engagement strategy.