The omnichannel approach is becoming increasingly important across several industries. Whether you’re a contact center using multiple channels to chat with customers, or a marketing firm using various social media platforms to reach prospective consumers, omnichannel is essential to success. However, keeping track of all these different channels can often prove to be difficult, especially in the marketing sphere. How are marketers supposed to know how their campaigns are performing on each and every channel? That’s a lot of information to track down and analyze, especially if the agency doesn’t have automated solutions in place.
This is a major problem for many marketing agencies, but ZyloTech, which was formerly DataXylo, is working to resolve that issue. The company just announced the first artificial intelligence-powered platform for advanced customer analytics. Its purpose is to solve data quality issues and analyze all customer data continuously and in real time, saving agents from the pressure of keeping track of all interactions.
The AI-powered platform is meant to solve many of the problems commonly facing marketers. For example, acquiring a new customer is five to 25 times more expensive than retaining an existing one, but only 16 percent of companies put their primary marketing focus on growing existing customers. Now, with the power of AI, companies will be able to see who their campaigns are impacting more: new or existing customers. Based on the resulting numbers, they can tweak their message or approach to better meet the interests of both groups.
It also solves the problem of capturing real-time data. The omnichannel world is fast moving, with millions of people using Facebook, Twitter, Instagram, the Web, etc. at any given moment. It’s physically impossible for a human marketer to keep track of how many of these people are being impacted in real time. Thanks to the new AI platform, though, this will no longer be a problem.
The ZyloTech platform is capable of making a major difference in marketing. This is thanks in large part to its core features, which, according to the announcement, include: a Dynamic Data Engine that uses machine learning algorithms to automatically identify, unify, cleanse and enrich customer data to make it consumable; and an Embedded Analytics Engine that leverages a comprehensive analytics recipe, from micro-segment views to advance predictive analytics. This allows it to continuously analyze hundreds and thousands of data points and uncover each existing customer's DNA and intent. Management is also made easy thanks to the Self-service User Interface (UI), which provides a 360-degree customer playbook for desktops. The playbook allows marketers to maintain control of customer insights and cohorts, deploy timely, effective promotions, and trigger actions to their chosen omnichannel marketing automation, email marketing and business intelligence (BI) tool.
So far, the platform has proven to be a success, according to ZyloTech: “In the rapid-fire direct marketing world where improvements are measured in fractional percentage points, ZyloTech clients, who have been using our solution for more than a year, have frequently reported a 4-6X lift in their customer retention and monetization efforts,” said Abhi Yadav, an MIT-trained data scientist serial entrepreneur. “Using the ZyloTech platform, clients can leverage all customer data with unique accuracy and predictions. With excellent results to date, ZyloTech is ready for rapid expansion as the first and only platform to truly solve the customer retention and monetization problem on a bottom-up basis.”
Hopefully this AI-powered platform is the boost marketers need to make a difference in their omnichannel approach.