Millennials, the generation born between 1980 and 2000, are connected with technology as no generation has been before. They are often referred as the “digital-first” consumer—quickly growing audience whose instinct is always digital first, whether it’s to explore a product, contact a brand, complain, connect with friends and watch entertainment—the list is virtually endless. For them, digital is the main and only channel used for everyday activities, replacing voice and in-person interactions. These types of consumers are very challenging as they expect 24/7 access to brands when they need information or help, and if you engage them with an irrelevant promotion, they will deem you annoying, or worse, “spam.” If you break the rules of the digital-first generation, they will “opt-out”—unsubscribe, unfollow, or cancel from your brand forever. But if you provide good customer experience, you’ve got a lifetime customer. We call this the “new social contract”—in the digital era, the consumer has more power and control than ever, and brands need to listen up. So, what would you do transform your customer strategy to satisfy these customers and grow your business?
Improving revenue and customer engagement
Enterprises are now turning to new rich data sources to augment their data science efforts, and are using advanced techniques (including machine learning and artificial intelligence) to increase the accuracy and precision of their work. The combination of enterprise-scale data sources and the technology to make the most of them means their results can be more robust and drive new business value. One such avenue is real time personalization, which demands not just batch-processed aggregated market analysis but real-time individualized results. Real-time personalization brings customer engagement to a next level. By interacting with customers at key points in their path to purchase, you demonstrate an understanding of the shopper and entice them at moments of peak interest. If done right, it can generate tremendous payback—increasing sales and revenue, enhancing online conversion, boosting average order value, driving cross-sell and upsell, and strengthening customer loyalty and lifetime value.
Explore a streaming analytics solution
Context-aware stream computing helps you become more responsive to emerging opportunities. By using innovative technologies to understand the context of data and analyze data in real time, you can put data to work. You can reduce cost and improve marketing effectiveness by deploying the streaming analytics on cloud during key marketing campaigns such as holiday sales and dynamically adjust resources to sales traffic. Get started with the latest IBM Streaming Analytics service on IBM Bluemix that ease the development of streaming applications in the cloud. Applications developed with Python 3.5 can now be directly submitted from Python to a Streaming Analytics service—this can be achieved without the presence of a local IBM Streams install. You can also create streaming applications in Python right from your browser with the IBM Data Science Experience (DSX)!