Next-Best-Action Design and Configuration

Next-Best-Action Design and Configuration

Pega Marketing for Financial Services 7.31 November 2017

Introduction

New authoring capabilities in Pega Marketing for Financial Services simplify the definition and management of Next-Best-Actions. Marketers now have a fully guided process for modeling marketing strategies across every customer interaction type and business issue.

The Next-Best-Action models are pre-configured in our reference application for the data architect to use as a starting point. Marketers can use or modify the preconfigured actions, relevancy, customer eligibility criteria, and engagement prioritization. The results are exposed to real-time channels through pre-configured real-time containers. Users can simply manage Business as Usual changes to their always-on strategies through the use of the Revision Manager.

The following Next-Best-Action hierarchy and decisioning artifacts are available in the Pega Marketing for Financial Services CRM Sample Application. In the sample application, the hierarchy is blank as to not pollute the customer's QA and Production environments on installation. The Strategy Result (SR) classes and key SR properties that define the Next-BestAction hierarchy are however present so that the new customer's SR classes created can inherit from them. This allows for customers to decide what they wish to leverage from the Pega Marketing for Financial Services sample application and save as into their customer specific application layer.

For more details on Next-Best-Action Designer, see the Pega Marketing 7.31 User Guide on the Pega Marketing product page.

Contents

Pega Marketing for Financial Services next-best-action hierarchy Pega Marketing for Financial Services real-time containers

- Auto Loan container Pega Marketing for Financial Services Next-Best-Action designer

- Supporting decisions - Next-Best-Action - Next-Best-Offer

- Collection node - Cross Sell node - Upsell node - Service node - Sales node

Updating the Next-Best-Action model

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Pega Marketing for Financial Services next-best-action hierarchy

To identify a next best action, the system evaluates the customer in context against configured Business Issues. Business Issues encapsulate the strategies and models used to identify the relevant actions against this customer at a macro level, e.g., whether to sell to the customer in context or to service the customer. After a business issue has been identified, available actions are evaluated against the current customer interaction.

Pega Marketing for Financial Services 7.31 provides the following business objectives:

Collection: This issue provides appropriate actions for customers in collections, such as Take a Payment or Negotiate Settlement.

Cross Sell: For existing customers, this business issue provides sales offers for new products that are complementary to current product holdings.

Upsell: For existing customers, this business issue provides sales offers to entice customers to upgrade to higher value products.

Service: This issue provides appropriate service recommendations to customers, such as Update Contact Address or Credit Line Increase.

Sales: This issue provides standard sales offers to both customers and prospects.

Pega Marketing for Financial Services real-time containers

Applications can access Next-Best-Action by invoking real-time containers. Containers provide a standard API through REST services. The following table shows the Pega-provided containers in this application. You can find these containers configured in the Next-Best-Action Designer menu of the Pega Marketing portal.

Business issue Next-Best-Action

Strategy name NBA_TopLevel

Collection

IsCollectionRelevant NBA_Collection

CrossSell Upsell Sales

IsCrossSellRelevant and NBA_CrossSell IsUpsellRelevant and NBA_UpSell SalesStrategyRelevance and NBA_Sales

Container name(s) NextBestAction

N/A (part of NextBestAction)

TopOffers and NextBestAction TopOffers and NextBestAction TopOffers and NextBestAction

Description

This real-time container serves "Next-Best-Action" requests. It provides Collection, Make Sales Offers (Upsell/Cross Sell/Sales), and Service Intents for a customer based on Supporting Decision rules "Next-Best-Action" and "Next Best Offer." Returns a Collection Action such as Payment Plan if the customer is in Collection. No other Sales/Upsell/CrossSell offers will be presented if the customer is in Collection. However, relevant Service Intents will be presented based on definition at the Service Level. Provides top cross sell offers to be considered for TopOffers and NextBestAction. Provides top upsell offers to be considered for TopOffers and NextBestAction. Provides top sales offers to be considered for TopOffers and NextBestAction.

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Service

IsServiceRelevant and NBA_Service

N/A (part of NextBestAction)

NBA Service strategy outputs the top two services recommended to the customer as long as the customer is not in collection.

To invoke a container, applications must provide the required information in JSON format. Below is a sample request:

{"ContainerName":"NextBestAction","Channel":"CallCenter","Resource":"Actions","CustomerID": "PEGASAFS-WORK-CONTACT CON20824","Direction":"Inbound","Contexts":[{Type":"Intent","Value":"phone","Key":"Channel"},{"Typ e":"Intent","Value":"","Key":"NetPromoterCategory"},{"Type":"Intent","Value":"Txn Review","Key":"IVR"},{"Type":"Intent","Value":"52655582","Key":"AccountNumber"},{"Type":"Inte nt","Value":"1","Key":"AccountType"},{"Type":"Intent","Value":"CSR interaction","Key":"CurrentPage"},{"Type":"Intent","Value":"Y","Key":"IsInCollections"},{"Type":"In tent","Value":"Y","Key":"ActiveScheduledPaymentPlan"},{"Type":"Intent","Value":"1","Key":"Brok enPromiseCount"}]}

Pega applications such as Pega Customer Service for Financial Services are pre-configured to use the real-time containers referenced here. For more information, see the Pega Customer Service for Financial Services 7.31 Implementation Guide on the Pega Customer Service for Financial Services product page.

Auto Loan container

The AutoLoanOffers real-time container is configured to run for the AutoLoans strategy. As of Pega Marketing for Financial Services 7.31, auto loans are now defined in the next-best-action hierarchy under the SecuredLending business group. The AutoLoansOffers real-time container is used to support the auto loan referral scenario for Customer Service for Financial Services 7.31 and Pega Next-Best-Action Advisor for Financial Services 7.31. For more details, see Prequalify Credit Offers via Mobile Devices on the Pega Marketing for Financial Services product page.

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CRM-specific real-time containers

The Pega Marketing for Financial Services sample Application provides a series of real-time containers that are integrated to the Customer Relationship Management application suite's other applications, Customer Service for Financial Services and Sales Automation for Financial Services. These real-time containers are designed to return top offers, services, and actions to sales representatives and customer service representatives. For more details, see the following table.

Container name HandleServic eTask SelectChanne ls

PrioritizeOffer

SalesOffersF orProspects

TopOffersforS alesRep

TopOffersWS S

TopOffers

NextBestActio n

Supporting strategy PrioritizeNBASe rvice PreferredChann elsforSSA NextBestOffer NextBestOffer

TopOffersforSal esRep NBA_Sales

NextBestOffer

PrioritizeNBAOu tput

Integrated application Customer Service for Financial Services Customer Service for Financial Services

Customer Service for Financial Services Customer Service for Financial Services

Sales Automation for Financial Services

Customer Service for Financial Services

Customer Service for Financial Services and Sales Automation for Financial Services Customer Service for Financial Services

Description

Returns next best service recommendations for the Self-Service Advisor functionality in Customer Service for Financial Services. Returns the recommended contact channel for a customer in the Self-Service Advisor functionality in Customer Service for Financial Services. Returns top offer for the Self-Service Advisor functionality in Customer Service for Financial Services. Returns top offers for the Web-Self-Service functionality in Customer Service for Financial Services for a non-authenticated, unidentifiable customer/prospect. Returns top offers on the Sales Representative portal in Sales Automation for Financial Services. These are offers that sales representatives can suggest to prospects. Returns top offers for the Web-Self-Service functionality in Customer Service for Financial Services for an authenticated customer. Returns top offers to Customer Service for Financial Services and Sales Automation for Financial Services. This is a legacy realtime container.

Returns top service recommendations and top offers in the advisor widget located in the bottom left hand corner of the Customer Service Sales Rep portal.

Pega Marketing for Financial Services Next-Best-Action designer

The following screenshots show the Next-Best-Action top level definition for this application.

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Next-Best-Action is called through the real-time container "Next Best Action".

Supporting decisions

Next-Best-Action

The "Next-Best-Action" container is configured with supporting decision rule "Next-Best-Action".

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