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With the increased restrictions on third-party data, more brands have started adopting customer data platforms (CDPs) to help them get access to first-party data.
However, data collection and segmentation are just the first few steps. And while CDPs are essential tools, brands also need customer engagement platforms (CEPs) like MoEngage to turn this data into insights for creating personalized customer journeys. This makes seamless integration between your data and engagement platforms a key to delivering truly impactful customer experiences.
To address this, we’re excited to announce our integration with yet another CDP, Microsoft Dynamics 365 Customer Insights. This partnership will help you orchestrate hyper-personalized customer journeys for different cohorts created using customer data.
Microsoft Dynamics 365 Customer Insights and MoEngage’s insights-led engagement suite together make a winning combination, which is crucial for engaging and retaining your customers.
Simply put, with this partnership, you can use Microsoft Dynamics 365 CDP and its analytics capabilities to collect customer data and segment it into cohorts. These cohorts can then be sent to the MoEngage Platform to execute customer engagement in real time.
Hence, this partnership leverages the strengths of both platforms to establish an unmissable combo, regardless of whether you are a traditional or modern business.
Here’s how different verticals can leverage the Microsoft Dynamics 365 and MoEngage partnership to their benefit:
The biggest challenge plaguing the growth of BFSI companies is incomplete onboarding. Studies show that 40% of consumers fail to complete their onboarding successfully. Hence, the primary focus for companies in the industry is to help customers finish signing up, including KYC completion and activation of digital services.
If you are a BFSI brand, then Microsoft Dynamics 365 will provide you with segmented customer data according to attributes such as incomplete KYC verification or inactivation of a service. You can then send these cohorts to the MoEngage platform for further analysis and engagement. Using MoEngage, you can create an omnichannel customer journey for each segment to provide a personalized customer experience at every stage. In addition to this, you can use predictive capabilities to open upsell and cross-sell opportunities via retargeting campaigns. And you can do this while keeping customer data confidential using our inbuilt features like PII Masking.
We’ve observed that the cost to acquire a new customer in the retail and e-commerce industry is 7X higher than retaining an existing customer. Hence the primary goals of brands in the industry are to predict at-risk customers, reduce churn rate, and recover former customers.
If you are a shopping brand, then Microsoft Dynamics 365 will help you capture customer data using its CDP capabilities and analyze predominant behavior traits of the consumers to create cohorts, such as ‘Lost Customers’ and ‘Dormant Customers.’ You can then send these segments to the MoEngage platform. Post this, you can use MoEngage to customize the customer journey for each customer cohort, predict customers likely to churn with the help of artificial intelligence, diagnose reasons for churn using User Path Analysis, implement omnichannel engagement strategies, and send personalized recommendations through Dynamic Product Messaging.
Recent studies show that only 18% of consumers pay for subscriptions at the end of the free trial. This means the conversion levels in the media and entertainment industry are pretty low. Hence, the primary goal for marketers is to engage customers in a personalized fashion and showcase the value of a paid subscription.
If you are a media and entertainment brand, then Microsoft Dynamics 365 will help you attain customer data using its CDP capabilities and provide segments such as ‘Consumers on Trial’, ‘Active Consumers on Trial’, ‘Dormant Consumers on Trial’, etc. You can send these cohorts to the MoEngage platform. Through MoEngage, you can personalize your messaging to appeal to different cohorts of consumers, use artificial intelligence to optimize campaigns through real-time feedback, and identify subscription drop-off points through funnel analysis, all in all, to increase conversions and ensure retention.
Conversion, engagement, and retention are some of the top industry-wide challenges. And without the right tech stack backing you up, these challenges will be impossible to overcome.
Together, Microsoft and MoEngage’s analytics and engagement capabilities provide you with a 360-degree view of your customers and actionable data, using which you can create hyper-personalized buyer journeys to win over your customers and ultimately achieve your business outcomes.
To learn more, click here.