Top 30 digital leaders in consumer-facing enterprises gathered in a closed meeting co-hosted by Kyanon Digital, CleverTap and Talon.One. Photo by CleverTap
“As business needs change, organizations must be able to deliver innovation quickly and adopt applications dynamically,” Huynh Le Tan Tai, Founder, CEO/CTO of Kyanon Digital, said at the event that gathered 30 top digital leaders in consumer-facing enterprises from banking, insurance, retails, e-commerce to financial services.
Kyanon Digital, which co-hosted the event with CleverTap and Talon.One, forecast that three trends will contribute to customer retention in the industry.
The first trend is the expansion of “composable enterprises,” which means companies use technology and digital process automation as a modular set of lego blocks and flexible workflows to innovate and adapt their services and operations.
Composable enterprise decentralizes all program components and data. As a result, companies can gain a number of advantages, such as increased flexibility, scalability, customizability, and the capability to integrate with a broad range of solutions, such as a loyalty engine (Talon.One) or a platform for user engagement and retention (CleverTap).
Huynh Le Tan Tai shares three tech trends for 2023: Composable enterprise, Low-code/No-code and Big Ops. Photo by Kyanon Digital
Second, the discrepancy between business requirements and available development time is always apparent. Anyone who uses Low/No-code can become a “citizen developer,” including marketers, client service representatives, and merchandisers from any department. Without overly relying on professional developers, non-specialist business users can use the Low/No-code platform to quickly self-create an app and speed up their production cycle.
For instance, a marketer can use Low/No-code to quickly release an application integrating with Talon.One in order to test user adoption toward new incentive programs without coding.
As more and more Low/No-code apps are developed, big data will grow correspondingly. Big data transforms into interaction data when departments undergo a digital transformation, managing the number and diversity of apps, automation, processes, and workflows that are added to that universe of data (Big Ops).
To be in a better position to derive value from additional sources of data that originate beyond the walls of the firm, marketers need to become more data- and operations-literate.
Marc-Antoine Hager, the SEA Regional Vice President of CleverTap, said that “2021 and 2022 have been years of volatility, uncertainty, complexity and ambiguity (VUCA) on a global scale due to changing consumer behavior post-Covid, high inflation and the supply chain issue.
Marc-Antoine Hager, SEA Regional Vice President of CleverTap, shares about real-time analytics from CleverTap. Photo by Kyanon Digital
In 2023, one of the main concerns for enterprises will be how to get a dollar’s value for a dollar spent. Marketers should shift focus to understanding their customers to increase customer retention and take control of churn via retention analysis. In general, the lower the churn, the more loyal the customers and more successful the business.
With CleverTap, it becomes very easy to understand your customers with real-time insights and trigger contextual campaigns based on user behavior. All the power of analytics, segmentation, and omnichannel messaging unify in a single platform enabling lifetime value for customers.”
Laurent Billieres, Sales Director at Talon.One, said: “After three years into the pandemic, the horizon is finally in sight. While modern customers love memorable, people-focused promotions that reward their curiosity and loyalty, big corporations on the other hand are burning their money on endless non-targeting incentive programs.”
Laurent Billieres introduces how Talon.One allows engaging consumers with an agile reward system. Photo by Kyanon Digital
Instead, each incentive and reward program needs to be customized to the emotions of the client as well as brand awareness. For instance, setting client milestones that require them to do more effort in order to receive rewards or fostering a sense of exclusivity or good fortune. Through experimentation and personalization across all touchpoints, Talon.One enables engaging consumers with an agile reward system to promote behavioral change and business objectives.