Next Best Channel
The next best channel is a predictive segmentation technique that determines the best channel branch among the given channels in the user-journey according to the past behavior of the user. It is made possible by deep machine learning of users’ engagement, preferences, conversion trends, and transaction behaviors. This technique usually works well when used along with time-based techniques, helping to reach customers at their channel of choice at that particular time.
The predictive channel algorithms are mostly used with the help of workflows and journey builders. Predictive channel choice algorithms generate immense value considering the proliferation of marketing channels and the emergence of multi-channel marketing. It is becoming increasingly difficult for marketers to manage such complexities. Machine learning methods like reinforced learning are effective for next-best channel predictions.
Regardless of what industry you’re in, it has become a frequent occurrence that behind every digital marketer is a data-driven analytical ninja. Together, they build and formulate strategies in addressing the customer-centric growth model that considers the different actions that a business can take for a specific individual on multiple channels, and decides on the “ next best channel” to optimize the growth. The goal of the next best channel analysis is to spike purchase intent, generate an offer, proposition, or service influenced by the customer’s interests, and the business’s goals, objectives, and policies.
The next-best-channel predictive model is well suited for:
- Inbound real-time engagement on websites, mobile apps, or call centers.
- Outbound scheduled or triggered engagement via online ads, push notifications, SMS, email, or direct mail.