Tata Consultancy Services, has introduced TCS Customer Intelligence & Insights™ (CI&I) for Retail 3.0, to help retailers deepen relationships with consumers through hyper-personalized engagement at every step of the customer journey.
The software generates insights, predictions, and recommended actions at key physical and digital touchpoints, resulting in higher returns on marketing investments, greater customer satisfaction, and increased customer lifetime value. The solution includes a unique combination of a real-time customer data platform (CDP), intelligent loyalty management, and AI-driven customer analytics with next-best action recommendations and journey orchestration.
With customers barraged with more choices than ever, TCS CI&I for Retail 3.0 helps retailers respond effectively to rising customer expectations, decreasing loyalty, and increasing attrition. CI&I also addresses the challenge of siloed marketing technology stacks by creating single, integrated customer 360° views from all channels of engagement, from point of sale, websites, applications and loyalty programs to partners and databases. Using CI&I, marketers can gain an enhanced understanding of customer behavior, sentiment, and preferences across all channels of engagement, enabling them to deliver more personalized, consistent and seamless offers and opportunities.
Unlike traditional transactional points-based systems, CI&I’s intelligent loyalty management tools enable retailers to deploy hyper-personalized and purpose-driven loyalty programs that align with a consumer’s personal goals and values. For example, an eco-minded shopper at an outdoor recreation store who is using the store’s mobile app to find running shoes made of recycled materials could receive a bespoke customer experience. After making a purchase with the help of a sales associate who explained how the shoes are ethically sourced, insights from CI&I could automatically trigger the customer to be upgraded to the next tier
of the store’s green loyalty program.
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They could also prompt smartphone alerts notifying her of targeted loyalty offers and experiences that she is likely to appreciate, such as discounts for environmentally friendly adventures.
“With insights delivered in real time, retailers can now personalize customer engagement across physical and digital channels at all points along the customer journey. This leads to greater marketing effectiveness, a better customer experience, and higher customer lifetime value,” said Ashvini Saxena, Head, TCS Digital Software & Solutions and Components Engineering Group, TCS.
SOURCE: TCS