Oisin Hurley, CTO
Today’s marketers face a unique challenge. Both loyalty and retention are hard to come by, as customers hop from channel to channel in search of a new experience to top the last. The real key to market share, both now and in the future, is their ability to drive long-lasting and relevant connections with their customers. With an ever-increasing volume of customer information at hand, ROI-minded marketers need to understand and effectively apply this data to build a loyal customer base with more meaningful moments of engagement.
Swrve, a customer engagement software company based in California, administers data analytics to deliver remarkable microtargeting capabilities to marketers. It uses real-time behavioral data of customers to help improve a marketer’s reach and relevance in every interaction. “Data analytics and machine learning are very important to Swrve,” says Oisin Hurley, CTO of Swrve. To address the challenges companies have in bringing customers onboard and retaining them, Swrve offers its Autopilot AI for businesses. Autopilot tracks and collects data to schedule messaging, ensuring marketers deliver relevant messages exactly when and where a user is most likely to engage.
Swrve’s emphasis on relevance and immediacy enables marketers to create an optimal customer experience where the end consumer feels that their interests, preferences, and needs are given priority. Swrve encourages its customers to hyper-target their users in various areas, without overwhelming them with what’s not relevant.
“On top of an outstandingly reliable platform that scales extremely well, we’ve built a great kind of professional services competence,” says Hurley.
The company adopts a straightforward onboarding process where they also offer SDKs for application developers to include in their applications. Swrve’s professional service team works directly with new customers in a 30-day program to help integrate their applications, design, and test marketing campaigns.
According to retention curves from mobile app surveys, apps lose about 80 percent of first-time users on an average after about three months. Swrve works with companies to reduce churn in these cases. It’s foolhardy for a company to invest a tidy sum and focus on customer acquisition while spending far less on customer retention. “If you can be more thoughtful and strategic about the way you communicate with customers across channels, you’ll see a significant improvement in retention and LTV,” says Hurley. “For instance, you can point out a new capability in an app during a first-time user experience and get direct feedback from them that you can then take action on. Just doing this can help keep people interested and engaged so you don’t get such a large drop-off,” he adds.
Swrve’s prowess in reducing churn and increasing customer loyalty is exemplified in their work with an airline company that does location-based campaigns. When people deplane, Swrve pops up a message which opens up the client’s app inviting them to share feedback on their flight experience in a mobile-based passenger survey. Their surveys about the flight turned out to be very successful with over 80 percent response rates. They found that passengers, who filled out the surveys, appreciated this thoughtful approach to customer satisfaction, which in turn helped improve customer loyalty. Inevitably, the client’s app rating in the app store went up from three to four stars, with a 3x rise in app acquisition.
This year, Swrve covered several new channels and is offering OTT SDKs for video streaming companies while working on Apple TV, Android TV, Roku boxes, and on some smart TVs as well. The company plans to roll out other machine learning projects that will further analyze engagement, propensities to spend, and more. Features like these will directly alert brands of potential churn while allowing Swrve to automatically attempt to retain those people with an appropriate kind of communication. Swrve now caters to travel, publishing, IoT, finance, retail, entertainment, hospitality, and other popular verticals. As an organization that collects data on behalf of others, Swrve’s focus for the next year is to evolve data processing, privacy, and protection capabilities, and infuse them into messaging so that customers can manage their own data with new levels of ease and convenience.