ComparTfon: Leveraging IoT for Enhanced Customer Engagement and Online Sales
Technology Category
- Analytics & Modeling - Real Time Analytics
- Networks & Connectivity - 5G
Applicable Industries
- Finance & Insurance
- Telecommunications
Applicable Functions
- Maintenance
- Sales & Marketing
Use Cases
- Real-Time Location System (RTLS)
- Track & Trace of Assets
Services
- Cloud Planning, Design & Implementation Services
About The Customer
ComparTfon is a Mexican telecoms service provider and a part of Compartamos Banco, the largest microfinance bank in Latin America. The company uses telco data to assess credit risk and provide financial services, including credit cards, to individuals who would typically be excluded due to low credit scores. ComparTfon also offers affordable internet services for mobile phones. While their customers are proficient mobile users, they are not typically accustomed to online shopping. The company serves more than 2.5 million clients, many of whom have low credit scores but are low-risk credit customers.
The Challenge
ComparTfon, a Mexican telecoms service provider and a division of Compartamos Banco, faced a significant challenge when the COVID-19 pandemic forced the closure of its offline sales channels. Despite their customers being adept mobile users, they were not accustomed to online shopping. The company needed to transition to a digital-only business model and guide its customers through the online purchase journey. The primary goal was to improve website conversion and reduce cart abandonment. To achieve this, ComparTfon needed to help customers navigate the online customer journey using a communication channel they trust, provide valuable real-time support in a cost-effective and scalable way, and capture customer feedback to identify improvement opportunities.
The Solution
ComparTfon identified WhatsApp Business as the ideal channel for real-time customer communication during the online shopping experience. They partnered with Infobip, a strategic customer communications partner, for their end-to-end customer engagement tools, flexibility, and scale, and highly secure customer communications. ComparTfon used Infobip's Moments, an omnichannel customer engagement solution, to power its customer engagement strategy and track individual customer journeys. Conversations, Infobip's cloud contact center solution, provided real-time insights to contact center agents for relevant and valuable support. These integrated cloud tools helped ComparTfon capture customer insights for use across the organization. They enabled automated customer messaging flows, recovery of abandoned carts, data-driven decision-making, and proactive customer support.
Operational Impact
Quantitative Benefit
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