Hybrid Approach – To Influence the buying behaviour of the User
Alpha Analytics enables a leading Ed-Tech Institution to overcome the challenges of enhancing the 80% customers to opt for a premium engagement model from 5% customer of a freemium model…
Business Challenge
Our client offers web and mobile applications for delivering educational content and mock tests for job aspirants preparing for various competitive examinations in India. From the overall business perspective, the viability of the online educational programs and their delivery mechanisms rests on multiple factors but one of the key indicators of business growth is the willingness from consumers to pay for the products or opt for premium engagement model visà-vis freemium model. In the current scenario, only 5% of the customers were willing to pay for premium content. The business stakeholders wanted to understand key events in the user navigation journey which are indicative or influential in buying process.
Our Approach
Hybrid approach of segmentation and market basket analysis was employed to identify the user actions and events in the navigation journey indicating buying intent with high degree of relevance & accuracy. Visualization was an important element in the process to uncover the findings obtained during lots of iterations.
Methodology
Analytics was tuned to capture a deeper level of understanding of how customers were behaving with the online assets, and over a span of a month, massive clickstream data of 90 million events from 65000 customers were analyzed.
Feature engineering enabled harnessing of attributes related to events like details of time spent, campaign visited, exam subscribed, order and payment history, demographics, etc.
Results
The recommendations in form of probabilistic behaviour of actions emphasizing readiness to pay at critical junctures of navigation journey had potential of increasing online buying of premium content by at least 80%.
Some of the upcoming business strategic implications of the analytics were in form of identification of ‘cross selling’/ ‘upselling opportunities’, targeted communications, online traffic management for better performance and user experience. All this accumulatively leads to improved ‘conversion rates’ – a clear indicator of increased profitability which is the also most important objective and challenge for all the businesses in the concerned domain.
