Enterprise Europe Network

Customer Data Platform (CDP) focused in customer-mindset analytics and actionable AI (Artificial Intelligence) based

Country of origin:
Country: 
SPAIN
Opportunity:
External Id: 
TOES20200721001
Published
21/07/2020
Last update
29/07/2020
Expiration date
30/07/2021

Keywords

Partner keyword: 
Artificial Intelligence (AI)
CRM - Customer relationship Management
Other commercial communications
Advertising and public relations
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Summary

Summary: 
A Spanish company has developed an AI (Artificial Intelligence) - based solution that uses a combination of internal customer information and external events to surface insights and, through continuous learning, build customer mindset understanding and digital empathy. The company is looking for license agreements.

Description

Description: 

In a world with increasing digital maturity, the interaction between businesses and customers is growing, requiring a much more personalized relational approach, a fact that corporations sometimes do not pay enough attention to. This leads to the consequent frustration and lack of loyalty of customers.
There are internal or inherent events to the client and the company (a payment deadline, birthdays, etc.) or external events (competitive, economic or legislation changes, weather phenomena,...). On the other hand ,there are fixed events that can trigger predictable customer actions (such as reaching a contract renewal date) and variable events with less predictable consequences(for example, poor customer service leading to service cancellation or an air traffic control strike, which causes a vacation package to be cancelled).

In order to address this challenge, the Spanish company has developed an innovative AI (Artificial Intelligence) solution that helps to understand the customer mind-set by combining internal customer information and external forces information.

This technology enables companies to understand which events of any kind are relevant in the customer/company relationship and identify them, so that marketing or customer experience strategies can be established. Each time a customer performs an action with a company (a contact with the customer service center, a visit to a branch, web or application inquiries, payments, etc.) the interaction information is sent by the company's systems to the Spanish company solution, to create the customer profile. These inputs are correlated with external events, in order to detect relationships between customer actions and external contexts. By accessing the customer profile, the company can monitor and detect whether an event has triggered a customer action and, for example:

•React to a similar event proactively, anticipating the customer's needs and ensuring customer loyalty.
•Deliver personalized information in the right moment through the best channel, increasing communication effectiveness and empathy.
•Detect abandonment patterns and anticipate them, to retain customers before they consider other options.
•Detect behaviour-based segmentations that may be more relevant that those of the CRM and invest in the customer groups that can deliver a return of investment or generate more prof it.

The solution presents three main pillars:

1)Creation of customers profiles:
•Probability of a customer performing a certain action on an external event (cancel a flight if there is a strike, check the terms of service if the competition launches an advertising campaign...)
•Specific behaviours that the company would like to detect from the collected information:Preferred channel of contact, app visits, customer actions (purchases, cancellations…), etc.

2)Chatbot enhancement: Thorough analysis of non-human conversational channels, with the aim of:

•Analyzing user skills (speed of writing, use of buttons…)
•Measuring the ratios between automated and agent interactions.
•Comparing performance from different chatbots or voice attendants.
•Detecting bottlenecks or design errors through Sankey diagrams, which display the customer’s conversation flow.

3)360º Analytics:

•It unifies data from different touchpoints in a matter of days and without complex .developments.
•It offers a graphical 360º view of each customer, providing details of the customer's behavior
•It allows to visualize customer information in an aggregated and homogeneous way, both by segments and in total.

The solution is suitable for any sector in which a deep client knowledge is necessary: Banking, airlines, insurance, telco, e-commerce, etc.

The company international development strategy is focused on reaching license agreements with integrators, consulting firms and telco companies interested in improving its capabilities in the customer experience field.

Advantages & innovations

Cooperation plus value: 
-Traditional CRMs can register internal events, but they are not always able to correlate them with customer actions. They ignore the influence that external events can have on customers and do not have the right mechanisms to predict customer behaviour related to variable events. On the other hand, this technology takes into account the mentioned variables in order to understand better the customer behaviour. -Improves customer satisfaction. -Reduces costs. -Boosts long-term customer value. -Increases the company ROI (Return on investment) and LTCV (Lifetime Custom Value).

Stage of development

Cooperation stage dev stage: 
Already on the market

Partner sought

Cooperation area: 
The Spanish company is looking for three kind of international partners: -ICT integrators with experience in contact center -Niche consulting firms focused on customer experience -Local Telco companies The role of the partner sought is to commercialize the Spanish technology within a defined area under license agreement.

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