To hit KPIs around ARPU and churn, MNOs must move away from manual processes and embed intelligent automation across the customer journey. After all, manual processes don’t deliver the cost-effective, real-time engagement needed to boost campaign effectiveness.
So how do you introduce that structured automation across the many channels and touchpoints you have?
Next Best Action is your next step.
What is Next Best Action (NBA)?
Here’s the definition:
A cutting-edge artificial intelligence (AI) module that uses machine learning to determine the best next step in a customer journey. It analyses signals across touchpoints and channels in real-time, and uses predictive analytics and adaptive self-learning models to decide which is the best one to direct customers towards.
Next Best Action therefore improves conversion rates (and ultimately ARPU) because you’re giving each customer a personalised next step during their real-time situation.
How does Next Best Action work?
The module analyses signals and data points (such as customer profile, billing data, data usage and more) across the customer journey within the context of your business objectives. Using machine learning and predictive analytics, it determines the recommended next step accounting for all touchpoints and experiences – from customer service and engagement to operations, sales and marketing.
You can therefore move at the speed of customers, meeting ever-evolving demands for personalisation and tailored experiences – efficiently and cost-effectively.
What does Next Best Action look like in practice?
Next Best Action can help you deliver the right message, at the right time, on the right channel – so you can hyper-target campaigns in the way most likely to drive conversions.
For outbound marketing, this can mean pushing the next best offer for a customer on their preferred channel. That offer is determined automatically by analysing all of that customer’s data, behaviours on their network and offline activity. The same goes for an inbound request to customer service – when a customer gets in touch, the upsell is tailored, for example a specific handset or data bundle upgrade.
The machine learning also lets you take predictive analysis a step further, suggesting the best sequence of actions to get the best engagement. For example, it can determine whether it’s better to send an offer now or have an agent call the customer to resolve an issue first (as you’ll get a better response to the offer if the customer is issue-free). Because you’re funnelling customers in this targeted and tailored way, you can effectively increase satisfaction, retention and ARPU.
Now’s the time to build personal, profitable relationships in real-time
When you leverage Next Best Action, you have an easier, more effective way to build relationships and reduce churn. You improve customer experience because people have streamlined journeys and receive targeted information based on their preferences and behaviour. And because it’s automated in a way that’s structured and self-learning, you get operational efficiency gains at the same time.
And better campaign conversion + better customer experience + higher efficiency = More profitable relationships for everyone.