Boosting consumer engagement in a world of over-marketing: what are the platform companies for three-way payments in India

In the current over-marketed environment, consumer engagement has become a key determinant of business growth. Growing brands need the right insights to guide their consumer engagement strategy. Let's find out more from an expert in the field of customer engagement - Anand Jain, Co-Founder and Head of Product, CleverTap.

CleverTap is the leading customer retention platform trusted by over 10,000 brands worldwide. It's a comprehensive platform that helps you analyse user behaviour and drive engagement across a wide range of touchpoints.

Here's what we'll be exploring:

1. How can startups leverage customer behaviour and data analytics?

2. How can brands use existing touchpoints to increase engagement?

3. How can intelligent segmentation help payment processing companies maximise transaction volumes and optimise marketing ROI?

4. How can data be connected in a meaningful way to personalise information?

How can startups leverage customer behaviour and data analytics?

Data can do wonders if it is utilised correctly. The basis for leveraging customer behaviour has to be quality data. As Anand Jain said in the programme, "Data is the new oil". Startups need to leverage the following two things to analyse customer behaviour and data analytics:

user data

You need to use a platform like CleverTap to collect data on each user. They can help you track new users, old users, and how much time users spend on your platform. Platforms like CleverTap can help you distill insights into user behaviour after collecting data.

Audience segmentation

You can segment your audience using a variety of automated segmentation methods (e.g., RFM models: last purchase, frequency of purchase, and amount spent). Depending on the segmentation group, you can run automated processes. This automation will help you transform the user experience. It's a data-driven cycle that completes with each user interaction.

Becoming a data-driven business will pay off for you in the long run. You will learn which channels work for you and the right segments you want to target.

How can brands utilise existing touchpoints to drive engagement?

You need to plan where your users are and how they consume your services. Users don't pay attention to the form of device they use. You can use this data to enhance the effectiveness of their experience by planning their journey. Build a comprehensive picture of your users' journeys through automated interventions. These are called journeys. You can create a user journey with a series of prompts. Leveraging predictions from platforms like CleverTap will help you target that audience in reverse.

How can intelligent segmentation help payment processing companies maximise transaction volumes and optimise marketing ROI?

Segmentation is at the heart of all data-driven efforts. There are multiple ways to segment users based on RFM models as they are loyal customers. You can perform intent-based segmentation or predictive-based segmentation based on the data you have.

You can send alerts and interventions to users through multiple engagement channels such as WhatsApp, push notifications, SMS and email. Check their effectiveness and learn which channel works for which type of user.

This can help you intervene with the right people, at the right time, through the right channels and mediums, without annoying them.

How can data be connected in a meaningful way to personalise information?

There are many things you can do based on data from various touch points. This external data will help you send the right message to the right user. It helps you customise and personalise the same message in different ways. It narrows down to the likelihood of the customer buying the product they want.

To learn more about consumer engagement, check out this video.

Find out more details about upcoming episodes here.