Comprehensive Personalization
It’s come down to this: If the message and content aren’t personalized for the intended audience, you’re wasting your time. 76% of consumers said they are likelier to purchase from a brand that sends customized communications. This translates to a lot of revenue at stake, especially considering that personalization enables companies to drive 40 percent more revenue than their competitors.
Marketers need practical ways to enact personalization across their campaigns to drive results.
It starts by leveraging unified profiles and journey analytics to understand customer care needs and variation across segments. From there, you can orchestrate communications to deliver consistent messages, limit confusion, and provide proactive service. Ultimately, marketers need to automate the contextual personalization of offers, content, and products and auto-target visitors to deliver an optimal experience.
Success story
- Virtusa worked with a respected financial institution to deliver a hyper-personalized customer experience. Customers received emails and product offerings with individual recommendations based on demographics, psychographics, prior interactions, and behavioral patterns.
- The effort increased customer interactions by 5% (with the potential to scale up by 30-50%) and click-through rates by 3.5% (with the potential to scale up by 25-50%)
Data & Analytics Democratization
Your MarTech transformation heavily depends on the ability to curate, analyze and extract actionable insights from the wealth of data available. Yet only 62% of marketers are moderately confident (or worse) in their data, analytics, and insights systems. Data silos lead to poor CX, with decisions that use multiple versions of the truth. Marketers are disadvantaged without the ability to unlock critical insights into buying patterns, behaviors, and potential customer experience issues.
Marketing leaders must centralize and democratize data to build rich 360-degree customer views. Doing so lets you discover real-time cross-channel insights to engage customers and prospects better. Getting a handle on your data enables self-serve reporting and analysis for non-technical users with curated workflows and drag-and-drop UX.
Success story
Virtusa worked with a leading telco company to help derive insights about their subscriber base around NPS, churn, revenue forecasting, and customer segmentation.
- AI-based recommendations were implemented for cross-selling/up-selling based on customer 360 data and insights
- 25% improved sales process by profiling and segmenting the data based on buying and usage patterns
- 30% increased up-sell/cross-sell opportunities via a ‘single version of the truth
- 40% reduced customer churn and enhanced CX by understanding the insights and offering personalized services
- 60% improvement in NPS scores
The MarTech transformation experts
Virtusa knows how to drive a successful marketing transformation and deliver on the promise of a frictionless customer experience. With an extensive partner ecosystem and a deep bench of MarTech engineers and experts, Virtusa has everything businesses need to make their transformation a reality.
By accelerating MarTech transformations, organizations can unlock more significant ROI in less time and simultaneously personalize customer experiences at scale. By integrating MarTech platforms and applications effectively, companies will see an increase in operational efficiency and customer satisfaction.
Building on its deep engineering roots, Virtusa brings decades of engineering and technical expertise to eliminate MarTech complexity and provide a personalized customer experience and better business outcomes.
References
1. Gartner Press Release, “Gartner Survey Finds Marketers Utilize Just 42% of Their Martech Stack Capabilities,” October 3, 2022. Link
Venkatesha(Venky) Murthy
VP, Technology and MarTech
Senior technology leader experience in delivering enterprise marketing technology solutions for Fortune 500 companies. Excellent track record in delivering the value from strategic, high quality, intuitive solutions and setting up client's CMO/CDO office for success to overcome complex business / technology challenges in their digital business transformation initiatives.