We all want to know what the future looks like and with Raman and his App churn management module you get access to the future and leverage that to know the your users who are going to churn from your App. But why Stop at Churn when you get access to the crystal ball?
Access to Data and recent innovations have enabled us to Understand Customer behavior and have intelligent engagements with them. And as continuous innovations lead customers to expect more, it is not enough to understand customer behavior rather it is important to anticipate it.
Being Proactive rather than Reactive
With Predictive segmentation Raman is able to segment users on the basis of the future behavior on any activity.
The prediction scope is defined by the yourselves, where in Raman is asked to predict what meets your objective.
This could be for example,
Users who are likely to purchase in the next 7 days
Users who are likely to convert with cross sell campaigns
Users who are likely to uninstall.
Interest Clusters: Users likely to purchase a certain category.
And so many more, essentially any activity that you want to build the prediction on.
Lets go through with creating our first predictive segments together.
You would find predictive segments under the data tab of CEE, click on it and you are there.
Step 1 - Name your predictive segment
Step 2 - Select your segment type
Step 3 - Select your Prediction period
Step 4 - Select the audience you want your prediction on.
You could build the prediction on any segment or your entire base.
Step 5 - Click on "Enable" and you are all set!
Raman takes a maximum of 24 hours to then build your predictions.
Once enabled. Raman creates 3 micro segments of your prediction:
- Most Likely
- Fairly Likely
- Least Likely
Step 6 - Engaging these segments!
These segments can be then engaged utilizing any and every channel (Broadcasts and as well as Journeys)
Let’s look at an example to see how predictive segments is far more powerful when compared to regular segmentation:
Joe of an OTT Brand “WatchNow!” is in a bit of a pickle. The conversion rate of his free trial users into paid subscribers has seen a sudden but significant dip – below the average conversion rates for the month of September, 2020. He has been tasked with getting these rates back up to average.
“WatchNow!” has a monthly average conversion rate of 45% for their free trial users.
Joe sees that currently he has 100K users on free trial on the platform. He decides to run a campaign to offer coupons to increase the conversion rates.
Of course Joe can target all his users with such an incentivized campaign – offering them coupons, (utilizing a significant chunk of his budget), and probably a certain section of loyal “WatchNow!” users will convert anyway.
But, how can Raman help Joe reduce his costs and drive higher conversions, all through effective segmentation?
Joe can tell Raman that he wants to “identify users who are likely to purchase a free trial coupon” and Raman will create 3 micro-segments:
Most Likely to Purchase: 15K users
Fairly Likely to Purchase: 40K user
Less Likely to Purchase: 55K users
Now Joe is a smart marketer. He knows he doesn’t have to target the “Most likely to Purchase” segment. He can focus his efforts and spend his marketing budget to target the “Fairly Likely to Purchase” segment.
He can then monitor his campaign performance and then make a strategic decision (if required) to then target the users who are “Less Likely to Purchase”.
With Raman accurately predicting exactly what kind of behavior each customer micro-segment is likely to take, Joe can take smarter data-backed decisions that help him hit his KPIs!
This was just a small example of the possibilities that Predictive Segments can unlock for you. So, consider this a tip of the iceberg of what Raman and you can achieve together!
Write to us at [email protected] and lets gets started
Updated 9 months ago