Toovio Generated 4X Times Conversion Rate and 30X times Incremental Revenue for Tigo

Toovio, a leading data technology company which helps enterprises to boost revenue, improve profitability, and enhance customer experience by taking action based on real-time, customer behavior insights, announced that they have successfully helped Tigo Paraguay, a telecom operator, to better respond to customer event data with promotional mobile messages “in the moment“.

Tigo Paraguay, the largest mobile operator in Paraguay, South America with 3.8 million subscribers, was facing challenges with campaign performance. Tigo was experiencing lower than expected performance and longer than the desired campaign refresh cycles. There was an immediate need to improve the success of SMS offers sent to customers. Tigo wanted a solution that can boost response rates and revenue generated from SMS campaigns. Basically, a platform that can provide enhanced reporting and real-time dashboards using predictive analysis and automation processes to find the most predictive offer iteratively.

 Toovio’s adaptive predictive engine allows for rapid testing and learning of both human driven segmentation and offer targeting as well as continual and iterative predictive modeling by offer. Toovio’s machine learning and feature extraction operates without any manual intervention removing the need to have data scientist expertise involved in performance improvement. The Toovio platform also integrates with the billing engine so the end customer can purchase the offer/product instantly and begin using the product and/or service immediately.

 Mr Javier FerresDirector of MarketingTigo Paraguay said,”The Toovio Platform has dramatically increased consumer engagement resulting in major revenue increase. Uniquely, Toovio real time marketing is fast in terms of testing & measuring new products, offers and targeting strategies. There is nothing better for the marketer to present offers to the consumer that are tailored and “in the moment” of the consumer’s greatest interest. The resulting increases to engagement and revenues are beyond our expectations.

 With the Toovio’s intelligent real-time solution, Tigo experienced over 4X gains in both response rates and 30X time incremental revenue, with the mobile messaging channel in the first year of launch. It also helped them in delivering more relevant, compelling and fast-to-market offerings to their customers at the right time. Apart from easy to configure, it also increased the performance with high throughput.

 Mr Ashutosh MehrotraBusiness Head at Toovio Software said, “We were pleased to serve Tigo throughout their journey. Our Interaction Manager has, and will continue to, directly increase revenue by maximizing response rates to their campaigns and communications.”

 Toovio solution empowers the marketing organization with a cost-effective marketing service delivering enhanced capabilities to create, test, and launch real-time marketing strategies quickly and efficiently.

Toovio Forays Into Indian Market

Data technology company, Toovio has announced its entry and a direct presence in the fast-growing India market.

Toovio is a SaaS-based marketing solution provider focused on enabling multi-channel offer orchestration, built from the sophisticated decision framework and capable of managing the complete customer lifecycle. Toovio assists a range of industries in driving profitable business between the organization and its customers.

“As businesses head towards the modern age of analytics, we are excited to officially introduce ‘Toovio’ in India. We envision teaching machines to understand people. Specifically, to teach machines to customer behavior and understand marketers’ strategy, tactics and objectives so it may better apply advanced data technology solutions that are consumable and deployable by organizations at large. Toovio values stand tall as we judge ourselves by quality, speed and the cost of applying data technology solutions,” said Ashutosh Mehrotra, Business Head at Toovio Software.

Toovio is committed to providing zero-cost based deployment, short time to value, most trusted, truly scalable, cutting-edge technology for wireless telecommunications, retail, banking, healthcare, and other consumer-based companies. Toovio is backed with global expertise of implementation of over 45+ real-time decisioning platform.

Toovio brings to Indian organizations its core expertise in four domains for handling data analytics & decisioning platform in real time across the enterprises.
1. Data Cultivation: Amalgamating the structured & unstructured data from multiple sources and breaking down the data in ready to use/ business viable information state.
2. Feature Engineering: Using domain knowledge of the data to create features that make machine learning algorithms work
3. Adaptive Predictive Modeling: Every decision, every customer, and every single offer should be accompanied by a prediction that is consistently accurate and automatically adapts to changes to underlying data correlations. This capability operates with no human intervention.
4. Decisions: Filter choices/offers, score and derive necessary data at runtime and then make the best decision.

Ashutosh Mehrotra further added, “Our mission is to optimize every customer engagement and revenue metrics through data technology solutions that thrive on three key characteristics: identifiable customers, high-frequency transactions, and lots of choices for customers to engage and buy. Toovio engages customers ‘in the moment’ when the propensity of customer purchase is the uttermost.”

Offers that find the “right” customers?

Everybody talks about the right offer to the right customer at the right time.  While this is exciting, its also very difficult for most if not all… But Why? 

The overhead associated with testing and learning what offers work vs. not is the problem. 

The time, cost and complexity associated with testing a new or a derivation of an existing offer prevents the marketer from keeping pace with the sophistication and speed of customer behavior.  Typically, the total cycle time of learning extends beyond the pace of change of consumer behavior which can leave the marketer questioning “why even test at all”… 

What would happen if the overhead associated with determining the “right” customer and the “right” time to message were minimized or completely eliminated? 

A recent Toovio customer has experienced this dramatic reduction in overhead associated with fast learning.  As a result of the Toovio platform, this marketer was able to create more variation in offers and messaging thereby appealing to a broader base of customers.  We call this personalization “in the moment”…  a combination that spins an entirely new value proposition for the marketer as an exponentially increasing speed of learning is realized in the form of response and revenue optimization. 

Check out the case study here

Its time to flip the paradigm of traditional segmentation and targeting.  Let your offers find the customers within an ecosystem in which the “who” and “when” will sort itself out autonomously. 

How is Toovio different?

We get this one all the time and it just hit me this morning its actually a very simple answer.  In the past decade over 35+ implementations we've learned that real-time marketing systems only work well under certain conditions.  These conditions can be categorized into two buckets 

  1. Characteristics of the business model
  2. pre-existing decision component framework 

Toovio is different because we have learned a specific combination of conditions across the above categories that allow real-time marketing to flourish and we've built a software platform that focuses exclusively on these serving companies and customers under these conditions.  

Here's what we look for in a business model

  • at least 100,000 customers
  • customers making at least 2 revenue transactions per week
  • at least 50 offers, products or service message variations
  • a digitally known, opted-in customer that has a personal device  

What is a pre-existing "decision component framework" ? 

Most of the enterprise decision management tools today don't do much out of the box.  Meaning, when you install them you still need to configure them.  Here's where it gets complicated... How much configuration is necessary?  This depends on what industry you're in, what integrations you need, who the stakeholders are (if they exist) and what organizational goals and metrics they are accountable for...  When you start out with all these questions answered in a pre-defined way you can see results instantly instead of having to move mountains within your organization.  Pre-existing frameworks typically show consistent ROI within 1-3 months of go live whereas traditional tools can take as long as 8 - 18 months, if ever.

In this approach the main benefits that drive significant ROI are  

  • reduced IT costs
  • speed to market 
  • fast learning for the marketers resulting in exponentially increasing sophistication 

Toovio is different because we have a pre-existing decision component framework and we only apply it to business models that meet certain conditions.  We have proven this approach guarantees results and we'll stand behind our product even so far as to offer revenue share pricing.