We’ve noticed that business leaders across industries share a similar belief when it comes to AI. That in order to harness the power of 360-degree customer views, activate customer insights, launch powerful customer programs and manage data with ease…it must be expensive, right? At BlastPoint, we want to help companies – of all sizes – achieve tangible results with objective-driven intelligence, without breaking their budget or bank. So when leaders ask what the cost of AI-powered customer intelligence is? We assure them it’s surprisingly affordable.
At BlastPoint, our technology is results-driven, meaning our partners’ strategic objectives are at the core of the customer intelligence we deliver. To make that happen, our team does the heavy lifting, so your team can quickly and easily utilize customer insights to meet and surpass your business goals.
If you’ve been wondering if AI-powered customer intelligence can really improve your operations and bottom line, we provide you some of the top reasons why partnering with BlastPoint is surprisingly affordable – and a decision you can’t afford not to make.
1. Ease of Data and Platform Integration
Small and large companies – especially highly regulated ones – often avoid considering customer intelligence platforms because of the state of their internal data. If not accurately and consistently maintained, data can be incomplete, of poor quality, or fragmented. Sometimes all three.
While data shame is real and prevalent, there’s no reason it should stop you from accumulating and operationalizing customer intelligence that can help your company achieve its business objectives.
Our process is simple.
We begin every partnership by defining your business objectives. Once we establish your goals, we then begin the process of data and platform integration. Here’s how it works:
- Securely share data. We work closely with teams to identify and securely share internal data, clean it as needed, and enrich it with relevant external datasets that directly support your established objectives.
- Objective-driven, AI-enabled data analysis. Our proprietary system makes hidden data patterns visible, generating propensity models that indicate the likelihood of customers taking specific actions. Customers with the highest propensity are the right ones to target in order to achieve objectives.
- Access customer intelligence through our platform. We make insights from data analysis easy to access and understand through our Customer Intelligence Platform. Within one app, business users can visually explore data, create and compare customer segments, view data at the rooftop level, and much more.
- Activate insights to achieve data-driven results. With AI-powered insights at the ready, business users can identify the right customers to target at the right time through the right channels to achieve objectives.
Finally, business teams across the organization, including data departments, gain access to AI-powered insights so companies don’t have to worry about securing additional in-house AI talent or addressing infrastructure readiness gaps in order to utilize customer AI.
To sum it up, the cost of generating millions of insights from integrating your data into BlastPoint’s easy-to-use, Customer Intelligence Platform takes 2-4 months and ZERO additional hires.
2. Successful Campaign Execution
For decades, businesses believed that they needed to spend more money, on more campaigns, and push them through more channels to increase engagement with their customers. These ‘one-size-fits-all’ approaches are expensive, and, let’s be honest, hard to deem “successful” if every data point isn’t tracked along each campaign.
With customer intelligence, companies can gather the right data and strategically execute campaigns to reach the right customer at the right time with the right message.
BlastPoint’s Customer Intelligence Platform proves that when campaigns are executed correctly, initiatives are effective, scalable, and cost-effective amplifiers that motivate customer engagement.
Boost Program Enrollments
The more customers you can enroll in direct debit and budget programs, the more payments your business can count on receiving monthly. For the sake of simple math, if you were to enroll just 20% of 500,000 customers in a program for $16.00 per month, you could anticipate $1.6 million in payments, monthly.
Paperless billing program enrollment campaigns can also save businesses millions of dollars each year in operating expenses. One partner utilized our data-driven customer insights to understand what motivates customers to convert to paperless. Business teams were able to create messaging that resonated, targeting only the customers with the highest propensity to enroll. The campaign resulted in a 5% increase in enrollment and a $1.3 million dollar reduction in costs within three months of implementation.
Objective-driven segmentation dynamically generates customer segments that are optimal to helping business teams achieve a particular goal or objective. Furthermore, it allows those users to leverage it more readily and achieve a higher ROI on their data.
Daily CSAT Measurement
CSAT metrics allow teams to find out whether or not programs, campaigns, or services are actually delivering an exceptional customer experience. These metrics can identify what’s going well – so teams can stick to those strategies. Or, discover pain points along the customer journey – so teams can implement new strategies.
BlastPoint provides businesses with a heuristic tool that applies a CSAT score to every customer in their database, allowing teams to assess scores daily. CSAT measurement can be applied to billing and payments, program engagements, customer journey data (including that of any internal or third-party call center), and any touchpoint a customer has along each of those journeys.
CSAT measurement can reveal unexpected insights. One partner’s data revealed nearly 20% of their customers were at risk of low CSAT due to high call center engagement, revealing the need for more self-serve channel education and enhancements. Another partner saw nearly 40% of their customers were at risk of low CSAT due to bill-pay struggles. Their teams intervened with campaigns targeting those customers through their preferred channels with CAP information, assisting them in their time of need.
While customer expectations are constantly changing, your business has the opportunity to control a customer’s experience. Knowing where to invest resources begins with daily CSAT measurement.
3. Rooftop-Level Insights
News headlines leave little room for people across the globe to trust our economy. Economic instabilities – like inflation and unemployment – are causing businesses and their customers to pinch pennies. Therefore, providing the products, services, or programs to assist your customers through trying times is essential to not only your customers’ livelihood, but yours as well.
At BlastPoint, we’re seeing our partners thrive by meeting customers where they are. One of the greatest benefits our Customer Intelligence Platform provides our partners is the ability to view their customers at an account or household level, daily. By integrating your internal data with our proprietary and third-party data, insights reveal actions your teams can take to proactively intervene when customers need it the most.
Meet customers where they are.
A BlastPoint partner, a Mid-Atlantic gas company, needed to identify and engage low-income costumes who were most likely to engage in Customer Assistance Programs (CAP) during the Covid-19 pandemic.
By utilizing BlastPoint’s propensity scores and predictive personas, the utility sent a single email to promote the CAP program to 6K customers; 1,200 (20% of recipients) quickly enrolled, effectively ensuring the company would receive timely payments despite the prolonged economic downturn.
With fewer service terminations, lower call center demands, and higher customer satisfaction, the gas company is now actively engaging more customers, saving precious money, time, and personnel resources. Download the case study here.
You don’t need to wait until the economy becomes ‘more stable’ or your data ‘more organized’ to adopt customer intelligence at your organization. As a values-driven organization, we “protect our customers from unintended negative impacts while helping them serve their broader communities.”
At BlastPoint, in order to meet our customers where they are, we offer Customer Intelligence Platform options to ensure businesses – of all sizes – can glean insights about their customers. These levels of AI allow your business to pick the option that is right for you now.