Drive Higher Conversions with the Magic of Machine Learning
6th December, 2022
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Hey Reader,
Have you ever hoped for divine insights into some situation sans human interaction? Like just gazing into a magic crystal ball and wishing it spills secrets from the past, present, and future!
We finally found one and asked the most important question in a marketer’s life:
Which users are more likely to convert, and what is the most opportune time to reach out? Hocus Pocus, it replied- your answers don’t lie with me; what you seek is machine learning!
Now that the magic crystal ball has confirmed it let’s see how it actually works:
Machine learning powers breakthrough innovations that support our modern lifestyles, from prediction engines to online live streaming. For instance, Google Maps highlights the correct path with the quickest route by taking information from the user and using it to improve its performance. Did you know- you can also leverage machine learning to
✨Create Predictive Segments
You can apply the machine-learning algorithm to build a target audience based on their likeliness to perform a certain action, and
1. Predict the user’s next step– Create a segment of users likely to perform a specific action and nudge them with targeted communications. For example, create a list of users likely to purchase insurance worth Rs 10,000 or more and nudge them into making the purchase.
2. Stop users from churning– Incentivize customers most likely to churn with customized offers and discounts. For example, create a segment of users who have not made a purchase in a while and are likely to churn and bring them back with special offers.
Decide the best time to send a campaign based on a user’s past interactions on each channel. You can narrow this down to a 1:1 level, optimizing campaign send-time for each user. For example, users who are most likely to engage with your campaigns at 10:30 am will receive the campaign at that time with the send intelligently feature.
Interested to know how to set it up? Read our blog on this feature.
So now that you know what to do let the magic happen 🪄
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That’s all for this newsletter. If you want to try our features, get in touch with your Customer Success Manager or write to us at product@webengage.com.