Boost Customer Lifetime Value Through Next Best Actions In Multichannel CRM

Modern business is all about honing your predictive powers to anticipate the best move at every stage of every business process — both customer-facing and back-office. Leading-edge organizations now integrate predictive models, business process management suites (BPMSes), business rules engines, and complex event processing to support next best actions in multichannel customer relationship management (CRM). Killer apps for next best actions are targeted offers that customer service agents make to influential customers or marketing campaigns that a product team revises on the fly to prevent failure due to negative sentiments surfacing on social networks. CRM professionals should integrate recommendation-engine technologies into all customer-facing processes. This will drive next best actions and enable companies to maximize the return on sales, marketing, and customer-service initiatives in a multichannel CRM environment. CRM pros should also work with business process (BP) professionals to integrate next best actions into all back-office processes to enable continuous process optimization and agility.