This time with “CVM Stories” we dive into the world of Next Best Offer (NBO) recommendations. Our guest, Egle Baradinskiene, the Head of Analytical Solutions at Exacaster, has implemented over 40 Next Best Offer solutions all around the world! Discover the secrets, challenges, and valuable lessons from Egle’s extensive experience in this dynamic field.
- Unveiling Egle’s Journey: From selling sausages to becoming an accomplished data analyst, Egle shares her career path and the lessons learned from customer-facing roles.
- Understanding NBO: Explore the concept of NBO and Egle’s global experience in implementing successful NBO solutions.
- Crafting Personalized Customer Experiences: Learn how NBO aims to deliver personalized offers, akin to receiving a tailored meal at a restaurant, while addressing specific scenarios like data-depleted prepaid customers.
- Successful Outcomes of NBO: Discover the positive impacts of NBO implementations, including low churn rates, increased customer satisfaction, and revenue growth.
- The Role of AI in NBO: Gain insights into the significance of AI algorithms in NBO processes and the broader factors that contribute to successful NBO implementations.
- Navigating Business Strategies and AI Integration: Explore real-world examples that highlight the challenges and considerations when integrating business strategies with AI algorithms, even in the absence of historical data.
- Building an NBO Solution: Discover the importance of collaboration between stakeholders, the role of different channels, and why NBO is a lifelong project.
- Overcoming Data Challenges: Dive into the common data challenges faced in NBO, such as fragmented data, missing client attributes, and difficulties in accessing tariff plan details.
- Maximizing Offer Catalog Impact: Understand the critical aspects of the offer catalog, including strategic considerations, pricing, content steps, and additional dimensions like package durations.
- Seamless Channel Integration: Explore the significance of integrating the offer catalog across various communication channels, ensuring consistency, visibility, and ease of activation for agents.
- Enhancing Offer Accessibility: Learn how poor integration of offers can lead to low conversions and dissatisfaction, and discover effective strategies for optimizing offers, such as prepaid phone package recharges based on calendar months.
- Empowering Agents for Success: Uncover the challenges faced by agents in delivering NBO recommendations and the importance of agent engagement, feedback, and motivation for successful implementations.
- Launching a Successful NBO Project: Gain valuable advice on launching a new NBO project, emphasizing the importance of starting with small improvements, considering project aspects, and iterative optimization.
- Ongoing Operations and Improvement: Explore the essential aspects of continuous improvement in NBO, including monitoring data quality, communication channels, and recommendation effectiveness while anticipating and managing failures.
- Challenges in NBO Operations: Delve into the challenges faced in NBO operations, such as tracking and improving the recommendation process, ensuring data quality, and handling testing and automation.
- Learning from Failures: Hear about a failure related to AI and forecasting demand for prepaid packages, emphasizing the importance of practical usability and incremental testing and improvement.
- Book Recommendation: Egle’s recommends to read Competing Against Luck: The Story of Innovation and Customer Choice
Don’t miss this captivating episode where Egle Baradinskiene shares her wealth of knowledge and experience in NBO implementation. Tune in to the “CVM Stories” podcast and embark on an insightful journey into the world of Next Best Offer!