Many credit cards display merchant offers to incentivize their customers to visit those merchants, however, often these offers are national and not relevant to the customer receiving them. Many customers forget to shop through the credit card loyalty program and stop bothering to check their cashback offers because of their lack of value previously. In order to drive greater engagement, the offers presented need to be contextual both in terms of spending preferences and location. Presenting interesting offers will provide merchants with new customers and a greater return for their investment as well as remind the cardholder of the value their bank provides the more they use their card.
Use case overview
The NGDATA Intelligent Engagement Platform allows banks to create an extraordinary experience through always-on contextual engagement with real-time offers. Many offers are available at any given location so prioritizing these, is crucial to expose each customer to the merchant offers most relevant to them. The selection of the offer depends on the customer’s location, interests, preferences, and previous responses to similar offers. Additionally, take contact pressure parameters into account to ensure there is no communication overload towards the customer to stay within regulatory boundaries.
NGDATA provides a location-based targeting template to easily implement and scale merchant offers over time, saving the business users time and effort when launching new offers. We turned the location and distance in relation to the offer into configurable parameters and are used in the geolocation selection process of delivering a certain use case.
To make sure the selected offers are relevant, the system takes the behavioral insights and customer analytics into account that are gathered in our Intelligent Engagement Platform’s Customer DNA. This is a collection of analytics calculating interests, propensities, spending behavior, and more. Create additional awareness in the relevant digital channels through analytics-driven journey stages.