Tuesday, 06 October 2020 23:34

Pega introduces 'Value Finder' to better engage neglected customers

New AI-powered capability helps underserved groups receive more useful offers

Pegasystems Inc. It's the software company "empowering digital transformation at the world’s leading enterprises", and it has introduced Value Finder – a new AI-powered capability helping organisations engage their most underserved customers with messages and offers designed for their specific needs.

The Pega Value Finder page has an excellent 3 minute video that shows how the Value Finder works, and it's clearly positioned by Pegasystems as a game changer which can help a customer extract more value from the company, and a company extract more value from the customer in what should be a win-win situation.

In any case, it is part of the Pega Customer Decision Hub, with this capability "expanding the power of 1:1 customer engagement to ensure all customers get personalised, high-empathy treatment – not just the ‘premier’ customers that typically get the most attention".

Pegasystems states that "while organisations think they’re engaging clients on a 1:1 basis, in reality, most end up pushing the same 'product of the moment' to the same core customer segments. Audiences that don’t fit neatly into the latest campaign are either besieged with irrelevant offers or are largely ignored. Hamstrung by product-centric eligibility and prioritisation rules, customer experience professionals miss opportunities to nurture these overlooked customers with more relevant actions that could add real value, increase customer loyalty, and drive long-term growth.

"Value Finder helps organisations bring 1:1 engagement to everyone by ensuring these under-engaged customers receive more relevant offers and messages. The Pega Customer Decision Hub feature makes it easy to identify and fill critical customer engagement gaps by:

  • Identifying underserved customers – First, Value Finder analyses the customer database to uncover potentially valuable but consistently underserved customers. These are individuals who typically aren’t targeted within standard marketing campaigns because they don’t qualify under a brand’s standard engagement policies.
  • Filling engagement gaps – Then, the software inspects the customer strategy itself to find opportunities to improve engagement with those customers via strategy adjustments or net-new treatments that will better resonate with their needs.
  • Simplifying approvals across teams – With a plan in place, business users can make these changes with speed and confidence by leveraging the integrated 1:1 Operations Manager. This approvals management feature allows users to easily submit and manage change requests with a simplified workflow that increases speed-to-market for any new actions, policies, and treatments.
  • Optimising strategies before implementation – Before pushing those changes live, users can simulate various “what-if” scenarios to understand how those strategies and treatments will perform in market and how they will work within the entire engagement mix. This helps marketers hit specific goals, more accurately forecast results, and uncover any hidden tradeoffs between options.

Pegasystems tells us that "Pega Customer Decision Hub serves as an always-on ‘brain’ providing centralised AI across all customer touchpoints, both inbound and outbound, to optimise every interaction and maximise customer value. Its predictive analytics and customer decision management enables organisations to surface unique insights and recommend the next best action in real time during every step of the customer journey – from marketing to sales to customer service and retention. Pega Customer Decision Hub provides the responsible AI power across the unified Pega Infinity digital transformation software suite, optimising customer engagement and operational efficiency from end to end.

Here's the official Pega Infinity video:

Pegasystems also states that "Value Finder will be available in October as part of the latest version of Pega Customer Decision Hub (version 8.5)", with more information here.

Dr. Rob Walker, vice president, decisioning and analytics, Pegasystems said: "Marketers and customer experience professionals talk a lot about 1:1 engagement, but in practice, they’re usually forced down the path of least resistance.

“It’s much easier to shoehorn customers into existing campaigns than to ensure there’s relevant content for every individual. With Value Finder, Pega has removed another barrier on the path to 1:1 engagement by making it easier for organisations to identify and remove the gaps in their engagement programs. Now they can nurture all their customers with the most relevant messages and offers.”

Finally, the "Pega Discover: One-to-One Customer Engagement Online Summit" starts on October 7, 2020 with registrations in the US, Europe and APAC timezones.

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