DigitalCFO Newsroom | 24 November 2022
Top 30 Digital Leaders in consumer-facing enterprises gathered in an invite-only roundtable networking dinner co-hosted by Kyanon Digital, CleverTap and Talon.One.
Top 30 Digital Leaders in consumer-facing enterprises from banking, insurance, retails, e-commerce to financial services have gathered in an invite-only roundtable networking dinner at GEM Center co-hosted by Kyanon Digital, CleverTap and Talon.One – experts in marketing technology and growth strategy. The leaders were discussing Composable Enterprise Architecture, Low-code / No-code Technology and Big Ops which forecasted to be the key success of customer retention.
Mr. Huynh Le Tan Tai, CEO & Founder of Kyanon Digital addresses the challenge “As business needs change, organizations must be able to deliver innovation quickly and adapt applications dynamically. Kyanon Digital forecasts the three following trends and discusses how these trends contribute to the retention in customer-facing industry.”
Firstly, the growth of Composable Enterprises – businesses that leverage technology and digital process automation as a modular set of Lego Blocks and malleable workflows to innovate and adapt their services and operations [Gartner]. Unlike the traditional development methodology and monolithic eCommerce software, the components of an app are broken down into smaller parts in a modular way and a composable enterprise decentralizes all app components and data. As a result, businesses can earn a variety of benefits including increased flexibility, scalability, customizability, and the ability to integrate with a wide range of solutions from loyalty engine (Talon.One) to user engagement, retention platform (CleverTap), etc.
Secondly, the gap between business needs and development time is always recognizable. With Low/No-code, anyone from merchandisers, marketers, to the client front-face department can become a ‘citizen developer’. Non-specialist business users can leverage Low/No-code platform to self-create an app immediately and accelerate their production process without depending too much on the professional developers. For example, a marketer who wants to test new promotion strategies whether they maximize user loyalty or not can use Low/No-code to quickly release an application integrating with Talon.One to engage users in customizable incentive programs without coding.
Lastly, as a result of Low/No-code implementation, more and more applications will be continuously created, and the big data, accordingly. Throughout the digital transformation from departments to departments, big data becomes interaction data managing the growing volume and variety of apps, automations, processes, and workflows operating on top of that universe of data (Big Ops). Marketers need to become more data and ops literate to be in a better position to extract value from additional sources of data that originate beyond the walls of the firm. Notably, CleverTap, powered by world’s first purpose-built database for customer engagement, emphasizes the needs of retention and growth teams, with audience analytics, deep-segmentation, multi-channel engagement, product recommendations, and automation.
The keynote continues with insights from Marc-Antoine Hager, SEA Regional Vice President CleverTap “2021 and 2022 have been a year of volatility, uncertainty, complexity and ambiguity (VUCA) on a global scale due to changing post-Covid consumer behavior, high inflation and the supply chain issue. In 2023, one of the main concerns for enterprises will be how to get a dollar’s value for a dollar spent. Marketers should shift focus to understanding their customers to increase customer retention and take control of churn via retention analysis. In general, the lower the churn, the more loyal the customers and more successful the business. With CleverTap, it becomes very easy to understand your customers with real-time insights and trigger contextual campaigns based on user behavior. All the power of analytics, segmentation, and omnichannel messaging unify in a single platform enabling lifetime value for customers.”
Mr. Laurent Billieres, Sales Director at Talon.One shared “After three years into the pandemic, the horizon is finally in sight. While modern customers love memorable, people-focused promotions that reward their curiosity and loyalty, big corporations on the other hand are burning their money on endless non-targeting incentive programs. Instead, each incentive and reward program needs to be tailored not only to the brand awareness, but also to the customer’s emotions. For example, creating customer milestones in which customers need to do more to earn the rewards or creating the feeling of exclusiveness or luck. Talon.One allows engaging customers with an agile reward mechanism to drive behavioral change and business outcomes via experimentation and personalisation across all touchpoints.”
Lastly, the event ends with an intimate roundtable dinner where the top senior leaders contribute their perspectives and ideas freely and fully to the experts on how Low/No-code, Big Ops, Agile Loyalty and Customer Retention fit their organizations and to identify the execution plan to adopt these growth strategies into their organizations.
“I am very impressed with the trend of composable enterprises where new business ideas can be developed through drag-and-drop lego block modules. This is a key strategy for any startup to constantly adapt to changes.” said a digital leader from Unicorn startup in Vietnam.
“The discussion is very helpful. I am also looking for a tool that any consumer-facing departments can use to develop an application in order to reduce the pressure on the delivery team and speed up the release-to-market process.” said a digital leader from Retail industry.