One-to-one Customer Engagement paradigm
The optimal outcome of every customer interaction is to provide a great experience while maximizing the customer's value to the company. To achieve this, you have to be able to perform the right action in the right channel at the right moment for each customer. We call this capability, "1-to-1 Customer Engagement".
In this video, learn about the 1-to-1 Customer Engagement paradigm and how the principles of Next-Best-Action are implemented using the Pega Customer Decision Hub™.
Customers are more empowered than ever before. As a result, they have very high expectations of the experiences they receive from their service providers. Their experiences must make sense within the context of their lives. This means they must be meaningful, consistent, and personalized across every channel they interact with.
In business, the optimal outcome of every customer interaction is to provide a great experience while maximizing the customer's value to the company. To achieve this, you have to be able to perform the right action in the right channel at the right moment for each customer.
We call this capability, "1-to-1 Customer Engagement".
1-to-1 Customer Engagement enables companies to transition their marketing away from a traditional one-to-many campaign-driven approach. A one-to-one approach allows companies to have consistent, contextual and relevant conversations with individual customers across any channel or touch point.
The key to achieving 1-to-1 Customer Engagement is an idea that's simple to conceive, but very difficult to execute: one centralized brain.
In other words, one piece of intelligence that acts as a single decision authority across your application ecosystem.
Each channel or system profits from this single source of customer intelligence and can leverage it to gain insights or perform relevant actions.
In Pega Customer Decision Hub, this centralized brain is the core capability that leverages AI to enable 1-to-1 Customer Engagement.
In Pega Infinity™, the Pega Customer Decision Hub forms the core of the customer engagement platform, which sits at the center of existing systems and channels in an enterprise.
Data from every customer engagement across the enterprise is collected by the Brain and used to make predictions and decisions about every interaction in every channel.
Continuous learning and decision-making are the foundation of a 1-to-1 Customer Engagement solution.
The Customer Decision Hub combines analytics, business rules, customer data, and data collected during each customer interaction to create a set of actionable insights that it uses to make intelligent decisions. These decisions are known as the Next-Best-Action.
Every Next-Best-Action weighs customer needs against business objectives to optimize decisions based on priorities set by the business manager.
In the milliseconds before interacting with a customer, the Customer Decision Hub processes thousands of predictive and adaptive models to determine customer needs, considering the customer's immediate context to ensure the Next-Best-Action is relevant, timely, and contextual. These models can be propensity, risk, or churn models.
Next, the decision strategy considers business rules and matches those with the customer's context and higher-level business goals.
All of this information is used by the Next-Best-Action decision strategy to evaluate every potential action that could be taken with a particular customer in a given situation. The decision strategy then recommends the best way to interact with the customer to achieve the optimal result.
Using the Next-Best-Action approach, the Customer Decision Hub is able to identify the best moments for making a sale, providing a service, making a retention offer, or doing nothing at all (e.g. if nothing is relevant enough to warrant the customer's attention). Next-Best-Action is even able to select which offers are most likely to be accepted by the customer in a sales or retention situation. Next-Best-Action decisions are distributed, in real-time, to each of your real-time owned channels, such as web, mobile, and contact center. Through Pega Customer Decision Hub, Next-Best-Actions can also be distributed to real-time paid channels such as Google, YouTube, Facebook, LinkedIn and Instagram. Pega Customer Decision Hub also integrates with non-real time outbound channels such as data management platforms (DMPs) and email.
Once the Next-Best-Actions are distributed and customer responses have been received by the Brain, the whole process begins again, and new Next-Best-Actions are distributed within milliseconds. Every outbound channel, including a data management platform, is dynamically updated with the Next-Best-Action to ensure consistency and an optimized customer experience no matter which channel the customer interacts with.
In summary, the Pega Customer Decision Hub is the Always-On Brain that acts as a single, centralized decision authority.
It uses data about the customer, including past interactions, as input.
It leverages advanced AI techniques to make predictions.
And it uses decision strategies (which combine traditional business rules with predictive, adaptive and text analytics), to deliver consistent and personalized Next-Best-Actions across all channels.