Next Best Action

What is Next Best Action?

Next Best Action (NBA) is a technique wherein brands use data-driven insights to predict the next set of actions they need to take to elevate customer experiences, increase conversions, and improve loyalty. Powered by AI and predictive analytics, NBA models provide real time recommendations for sales and service personnel to take with their customers.

A customer-centric technique, Next Best Action model leverages an organization’s data and analytical capabilities to understand the customer in the moment of truth and serve them in a relevant and contextual manner. NBA is used widely across industries, including healthcare, financial services, media, and retail to improve customer and business outcomes.

Benefits of Next Best Action Model

Personalize customer engagement at scale: Combine real-time information with historical data and apply advanced analytics and AI-based decisioning to assess potential actions for each customer. Finally recommend the best action – a message, offer, or promotion – that is contextually relevant to the interaction, allowing agents to tailor experiences for superior customer satisfaction.
Deliver differentiated experiences: Shift from product-centricity to customer centricity – instead of marketing products or services through traditional outbound campaigns, offerings and solutions can be tailored to individual customers.
Empower agents, improve outcomes: Drive high levels of agent efficiency and productivity, and allow them to optimize sales opportunities, cross-sell, and upsell, with real time support.
Enhance customer acquisition: Optimize acquisition efforts and reduce costs by analyzing prospect behavior at scale and offering targeted messaging based on customer segmentation.
Improve customer lifetime value (CLV): Build life-long relationships by offering the right product to the right customer, at the right time.