By DPS Magazine Staff
The October issue of DPS Magazine featured a column by Madison Advisors based on their recent research on interactive personalized video (IPV). This technology offers a new customer communication channel, which is well suited for inclusion with other print service provider (PSP) offerings. IPV utilizes corporate data, video clips, animation, and voice overs to be assembled based on a sophisticated set of rules.
Here we walk through solution highlights of these solutions on the market.
IndiVideo, the BlueRush Interactive and Personalized Platform, is leveraged to engage customers, simplify complex products, motivate action, and accelerate the buyer journey while providing a superior digital experience.
The solution is designed to streamline and boost client acquisition by personalizing the quote process and simplifying complex policies into digestible content and dynamic experiences that meet customers where they are and on channels they prefer. IndiVideo dynamically interacts with viewers as soon as the video starts playing. “Our clients see an increase in engagement and boost in conversions,” says Kendra Borutski, director, marketing, BlueRush.
IndiVideo is also leveraged from acquisition to onboarding to ongoing communications like statements and renewals.
BlueRush first began to integrate with customer communications management (CCM) platforms in 2019. “The IPV capability was added because we believe that statements are the main touchpoint with customers, sometimes the only touchpoint with customers, and yet are typically not used as a customer engagement opportunity,” offers Borutski.
In 2022, the company forged strategic relationships with partners who could assist companies on their digital transformation journey, with the goal of bringing personalization and a superior experience to every stage of the lifecycle. Partners include NikiaDX, Quadient, Doxim, Crawford, Broadridge, and Percus.
Borutski says client’s are using IndiVideo to build personalized videos tailored to answering customer questions, meet their needs, helps existing customers understand their options and increases uptake in new offerings, as well as bringing in new customers.
She says its personalized video pension statement retained 70 percent of viewers from start to finish, earning over two minutes of attention.
Doxee is a multinational company providing a cloud-based platform for digital customer experience and CCM. With Doxee Platform companies can orchestrate, deliver with a multi-channel approach, and track any kind of communications with a very high level of interaction with their final customers.
Doxee Platform integrates three different product lines—document experience (dx), paperless experience (px) and interactive experience (ix).
The line includes Doxee Pvideo and Doxee Pweb to provide compelling, personalized, and interactive conversations with customers by harnessing the flexibility and ease-of-use of personalized micro websites and dynamic videos to enhance the customer experience.
Its personalized video technology enables companies to transform traditional customer journeys into innovative and compelling digital and interactive experiences, ensuring lasting relationships with customers and consumers.
By creating a more immersive, customer-engaged communications using personalized and interactive videos, Enrico Celotto, CMO at Doxee, feels that companies can amplify their brand value throughout the entire customer journey, instead of relying solely on advertising campaigns
“In fact, traditional forms of communication such as email, SMS (Short Message Service) or printed communications are no longer enough to satisfy an increasingly demanding end-customer with higher expectations than in the past, especially with the new generation of consumers,” says Celotto. “Indeed, by using a personalized and interactive video companies speed up the funnel of any type of conversion by leveraging on brand value and data of personalization.”
Doxee launched Doxee Pvideo in 2017 to enhance its own CCM product portfolio with a solution able to extend the customer’s touch points beyond the traditional billing communication on a market with a particularly important outlook of growth. Celotto says the value of the worldwide personalized and interactive video market today is around 500 million in 2021, with an estimated growth of +15 percent year over year while the online advertising spending is of 61 billion in 2021.
Doxee has hundreds of active use cases across different industries. The first market to adopt Doxee Pvideo was the energy sector. Utilities first, turned their traditional bills into a real billing experience by using Doxee Pweb and later Doxee Pvideo to cover the welcome touch point to speed up customer area subscription, digital payment adoption, and mobile APP downloads.
“Utilities are steadily covering others post sales touch points such as measuring NPS, loyalty program promotion, first bill explanation,” shares Celotto.
Another relevant market that is using Doxee Pvideo is the insurance sector. “Companies of this industry use personalized and interactive video to cover the renewal communication, by transforming a traditional transactional communication in a real engaging and interactive experience with the aim to increase conversions and reduce the churn rate,” he notes.
In Italy, Doxee Pvideo is also experiencing a significant growth in the Public Administration sector. “Many Districs and many public health institutions adopt the interactive product to build up a real citizen experience based on personalized videos to improve the relationship between a citizen and the institution, by simplifying complex messages and guiding step by step to obtain several public and health services such as cancer prevention services or how to pay taxes,” adds Celotto.
Idomoo offers personalized video technologies that add interactivity and other advanced video functionalities to its offering more recently. IPV is now the core of its offering, delivered through its Next Generation Video Platform. Other solutions delivered through the platform include Personalized Graphics, such as infographics and GIFs, and Dynamic Video Ads.
Idomoo Interactive Personalized Video sets itself apart from other players in the space by being the only player capable of offering high quality videos at virtually unlimited scale. In addition, the solution’s interactivity isn’t limited to clicking a CTA or choose-your-own-adventure storytelling or even shoppable videos, though it can do that, too.
“With Idomoo, interactivity goes deeper. Any element, text, media, whatever, can be interactive, and—for a true wow experience—users can change their video in real time. Right in the player, they can upload media, add their own data, choose what they want featured in the video, and more. This boosts social shares and enriches the brand’s first-party data,” comments Yotam Ben Ami, CMO, Idomoo.
Idomoo has been delivering Personalized Video solutions for over a decade, and basic interactivity started being added a few years ago. However, in the summer of 2021 it launched the latest version of the Next Generation Video Platform, which included the full suite of its Interactive Video capabilities, including viewer customization and more advanced functionalities like live data and built-in contextualization. “Together, we call these advanced functionalities Living Video, as they extend the useful life of any video asset by allowing it to evolve with new data and context,” he adds.
“We added these capabilities due to client demand and assessing industry trends. At the start of the pandemic, our enterprise clients were scrambling to offer effective and engaging self-serve solutions to their customers, and IPV emerged as just that. In fact, one of the earliest adopters of our IPV offering at that time saw an immediate drop of 73 percent in their call center volume,” shares Ben Ami.
He says videos designed to help customers self-serve were more relevant and easier to navigate and personalized offers were actionable. “Campaigns focused on loyalty and engagement got a huge boost with our in-player user customization option. Fans could now put their own spin on a brand video, and we’ve seen 250 percent social media reach with this approach. Customers love being creators, as long as you make it easy for them. That’s what we do.”
According to Ben Ami, more than a third of Idomoo client campaigns already used interactivity in 2021, and that percentage is growing as more businesses see the tremendous value it delivers.
The earliest adopters have been large companies in financial services. More than eight out of ten interactive personalized videos at Idomoo are for financial services companies. “Banks, insurers, mortgage providers, and more have used Idomoo Interactive Video to improve customer communications, deliver unrivaled self-serve offerings and boost their bottom line,” offers Ben Ami.
He sees particular value for financial services because Interactive Personalized Video makes complicated information easier to understand. “Our recent market study of 2,000 consumers found people are 3.5 times more likely to prefer video when a brand has something complex, like financial or program details, to communicate.”
O’Neil Digital Solutions
O’Neil Digital Solutions offers its ONEinteractive IPV solution. It is a module within its Customer Experience Management Platform, called ONEsuite. Interactive Video is an enhanced customer communication channel that bonds the audience to our clients, which improves customer satisfaction and retention.
ONEinteractive features virtual hosts that guide customers through the enrollment process of their 401k plan, health plan, life insurance policy, banking relationship, or wealth management account. Customer data is captured and fully integrated into the clients’ record keeping data base with just a few clicks.
O’Neil’s IPV technology was added in 2021 to expand the customer engagement, and specifically addresses customer enrollment into our client’s products and services. IPV is also being used for educating the customer, which provides an increase in satisfaction.
“The early adopters are creating IPV for financial statements, IPV for enrollment into Health plans and Financial Services 401(k) plans and IPV for educating the client’s audience on products and services,” shares Mark Rosson, EVP, sales and marketing, O’Neil Digital Solutions.
Precisely’s EngageOne Communicate is a software as a service solution enabling clients to rapidly create and deliver personalized, interactive digital communications in the cloud across video, chatbots, email, SMS, and PDF to drive business outcomes in acquisition, retention, customer servicing, and upsell/cross-sell.
According to Jennifer Graham, marketing director, Customer Engagement Solutions, Precisely, the solution is the first cloud platform to combine digital communications, interactive personalized video, and conversational chatbots with Natural Language Understanding (NLU) and live takeover capabilities into a single platform with a unified environment for design, data management, and reporting.
“Each video is personalized, interactive, rendered, and assembled in real-time, ensuring it is up-to-date and does not require storing and managing of large amounts of data,” she explains.
The goal of EngageOne Communicate is to deliver customer experiences that improve customer conversion, satisfaction, and churn rates. This is achieved with a digitally streamlined, centralized, personalized communications platform that also collects data to measure attainment and impact to operational goals with each experience.
When it comes to onboarding, EngageOne is able to help bring new customers up to date effectively while also reducing print costs and call center headcount.
It also enables users to achieve a greater mindshare and increase sales without increasing headcount or travel budget. As businesses return to in-person events they need solutions to capture leads and meet higher CX demands.
For servicing it helps businesses retain existing customers and revenue without increasing call center costs.
EngageOne also allows users to schedule and manage appointments without human agent intervention and seeking to reduce costs of no-show appointments.
Cross-sell/upsell/promotional uses are also a possibility, by using the technology to convert customers to new cross-sell/upsell offerings that are relevant and do so in a streamlined, engaging, cost-effective way.
Vertical examples include insurance, where it is used for onboarding, renewals, claims, open enrollment, workers’ compensation; financial Services for credit card onboarding, retirement planning, college savings, mortgage application, refinancing, student loans, online banking, financial advisor communications; government for benefit explainers, benefits enrollment, claims, taxes, local municipality communications (parking tickets, parks and rec enrollment, permit applications); and telecommunications/utilities for Interactive billing experience, servicing, service appointment scheduling, and customer satisfaction surveys.
A variety of industries look to new ways to effectively communicate with customers. IPV is an excellent option.
“Video enhanced bills and statements are being used on a rapidly increasing frequency by all different types of companies large and small,” say Borutski.
Dec2022, DPS Magazine