One Time users (HR-LF) to Active users (LR-HF)
Automate your cross channel engagement with RFM based targeting
Overview:
One-time users are seasonal buyers who transacted in the past with/without being offered incentive to buy. These users can be easily turned to repeat customers with contextual messaging with product/service they showed interest in, in their recent visits. RFM segmentation is a good way to filtering out these users and creating segments on the basis of their frequency and recency of last transaction made. This merged with their recent browsing behaviour can enable businesses to send personalised messages that these users will find relevant. This Journey targets similar 1-time buyers and pulls data from recommendation engine to personalise triggered messages across email and SMS.
Industry:
BFSI
Use Case:
Converting One-time users to Active users
Segments:
One-Time User: User who bought at max 1 product in the last 1 year
Viewed Insurance Page: Users who visited atleast 1 webpage/screen(in mobile app) in 'Insurance' category in the last 6 months
Viewed Credit Card Page: Users who visited atleast 1 webpage/screen(in mobile app) in 'CreditCard' category in the last 6 months
Viewed Loan Services Page: Users who visited atleast 1 webpage/screen(in mobile app) in 'Loans' category in the last 6 months
Events:
Page_viewed
Webengage.Track(‘Page_viewed’, {
/*String*/
“First_Name” : Dummy,
“Account_Number” : 12345
“Email” : dummy@dummy.com,
“Contact” : 23456,
“City” :
“Occupation” :
“Marital_Status” :
“Gender” :
“Page URL” :
“Page category” :
/*Date*/
“Page_view_Date” :
“Date_of_birth” :
“Last_Transaction_Date” :
/*Time*/
“Page_view_Time” :
/*Number*/
“Credit_Card_Amount” :
“Age” :
/*Boolean*/
“Eligible_for_Loan” :
“Logged in” :
})
Step by step explanation:
1. The Journey gets triggered for a user when he/she enters the segment ‘One-Time User’ (defined above).
2. Workflow checks if the user has browsed through any financial product category page in the last 6 months.
3. If the user hasn't, we end the journey for that user.
4. If the user did visit atleast 1 page, we check if the user belongs to either of the segments: ‘Viewed Insurance Page’ or ‘Viewed Credit Card Page’ or ‘Viewed Loan Services Page’.
5. For each of these segment flow, we call a recommendation engine (via API call) to fetch relevant plans/services for the respective category.
6. Workflow triggers personalised email with message being customised basis recommendation engine output.
7. If the user is not found reachable on email, workflow triggers a triggered SMS with similar personalised message basis recommendation engine.
Businesses may tweak the entry criteria via segmentation rule and change the channels across which they need to engage. For mobile app focussed businesses, SMS may be replaced with push notifications.