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This year was MoEngage’s most significant year at MAU ’23’23 in Vegas, and we loved connecting with everyone in such a lively forum!
Our booth presence on the floor was prominent, pulling in visitors worldwide to talk about customer engagement, get a demo from our leading Solution Engineers, and enjoy a refreshing smoothie before returning to the MAU madness.
Surrounded by a great collection of neighbors, our booth attracted the perfect traffic to talk about customer engagement with a mobile-first perspective while listening and learning about how other brands, vendors, and technology partners are looking toward the future as our market continues to grow.
Of course, we have to start with the biggest hype of them all: Artificial Intelligence. ChatGPT took us all by storm this year, and the biggest topic of conversation at MAU was how AI/ML is going to take over the world.
Now of course, that seems over dramatic and we here at MoEngage have always put our AI/ML capabilities at the center of our product but the generative aspect to this technology has really started to fuel a new conversation around where this technology is going.
Is it going to replace everyone’s jobs? No – but will someone with skills around how to utilize and optimize AI for the best ROI be prioritized? Yes.
The advantages of AI are immense yet at the same time currently unimaginable, and we here at MoEngage are just starting to think of how we can take a step back, look at what the market is asking for around customer engagement, personalization and omni-channel marketing capabilities, and how we can answer those needs with our own internal AI evolution.
Since we mentioned personalization, let’s talk about the expectations consumers now require of brands.
No longer can brands check the personalization box with a simple name and location customization. The ability to serve consumers with messaging that is dynamic, localized and perfectly tailored to their behaviors and affinities is a common stance.
For brands to stand out of the crowd and achieve the level of hyper-personalization that sets them apart from their competition, they need to seamlessly be able to message across channels with cohesive, perfectly timed messaging that is tailored to a consumers last perceived action such as abandoned cart, time-sensitive alerts or recommending a complimentary product.
We heard a lot of our counterparts at MAU talk about the importance of personalization, but here at MoEngage we make it a native part of the customer experience, seamlessly built into the core of our product to optimize for the best level of customer engagement.
Lastly, it wouldn’t be a meeting of the minds without the inevitable discussion around the nature of the economy. The impending dip in the markets has been on the horizon for months now and although we haven’t seen the drastic downturn we all were scared into believing, we have all definitely experienced the shrinkage in budgets and conservative spending habits.
With that conversation comes the discussion around the importance of customer retention.
Everyone knows it is significantly cheaper to retain and grow a current customer versus acquiring a new one, and therefore marketing strategies should reflect that.
As a customer engagement platform, this ties into the importance of keeping the customer at the center of your strategies to make sure that you are helping brands create that one to one, loyal and repeat customer. Providing the next best product recommendation makes a consumer feel like this brand knows who they are and is looking out for their best interests.
The economy will inevitably “fix” itself and brands will return to customer acquisition models, but focussing on retention in today’s world will help set the foundational strategy for when an influx of new users becomes priority once again!
As we look back at the trends we saw at MAU ‘23 this year, here at MoEnage we are already setting the stage for the future!
This fall our team will be hosting our annual #GROWTH Summit in NYC to continue this discussion around the future of customer engagement!
This summit is curated for leaders throughout our industry to learn and share actionable insights on growing customer lifetime value through customer engagement, experience, retention, and loyalty.
We will start the day with a Keynote Guest from Forrester, Rusty Warner who will be speaking about what we can expect for The Future of Customer Engagement followed by a number of panel session and fireside chats that will include those hot topic trends we spoke about previously such as AI, hyper-personalization and retention!
Make sure to register today to be part of the experience!