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Real-Time Intelligent Offer Tool Can Make Cross-Sell and Retention Campaigns 10 Times More Productive
By fully integrating Oracle's Siebel Customer Relationship Management (CRM) and Oracle's real-time decisioning (RTD) platform, Oracle Intelligent Offer Generation (IOG) becomes the first pure-Oracle solution that leverages closed-loop and predictive analytics to give contact center agents the offers most likely to promote both retention and/or increased sales—in real time.
For example, a customer's profile may indicate a low likelihood of churn, with no special action required to promote retention. But if the context of the current transaction indicates the customer's retention risk has suddenly increased, Oracle IOG instantly presents offers that help promote retention, empowering agents to take action immediately.
Just as important, offers are based on closed-loop analytics—that is, the system instantly captures the results of previous offers, including the contexts in which they were made, and uses this information to predict which offers are most likely to achieve success based on current market conditions, rather than offline marketing analysis.
The system can also define both retention and cross-selling logic so that the most relevant type of message is presented in context.
The potential benefits are, of course, huge: customer-initiated, relationship-driven campaigns typically achieve results 10 times higher than marketing-initiated campaigns.
Business Managers Retain Full Control
For strategic reasons, managers may sometimes want to override recommendations generated by predictive models. For example, a certain offering may yield lower short-term results but, in the end, add more value to a company.
"It is really up to the business owner to use rules or predictive models. Each has advantages," says Nicolas Bonnet, director of product management at Oracle. "The key is, Oracle Intelligent Offer Generation makes it possible for business owners to change on the fly."
The same flexibility allows business owners to incorporate new products, promotions, and services rapidly and seamlessly.
First Pre-Integrated Solution
While similar solutions were possible in the past, Oracle IOG is the first offering that pre-integrates an RTD platform with best-in-class Siebel CRM and campaign management applications.
The RTD platform itself, with its J2EE-based service-oriented architecture (SOA), is ideal for supporting adaptable, predictive applications, including third-party data and predictive modeling, says Bonnet.
"And by doing the work of integrating RTD and CRM apps, Oracle Intelligent Offer Generation significantly slashes total cost of ownership, while also increasing performance and ease of use," Bonnet explains.
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