Eltropy Empowered by WhatsApp Business API
WhatsApp, whose 1.5 billion users make it the world’s most popular messenger app, is now targeting enterprises with its recently launched WhatsApp Business API. The app will help companies connect directly with their customers using WhatsApp.
For Eltropy, a Messaging + Analytics platform, the WhatsApp Business API will expand its opportunities to give clients the tools to drive revenue growth by combining the reach of WhatsApp messaging with Eltropy’s real-time analytics and predictive ability.
Today, consumers want to interact with businesses as easily as they do with friends and family. To meet that expectation, businesses must offer the channels their customers use. One study shows that 9 out of 10 consumers globally prefer messaging over any other medium when communicating with businesses.
Why WhatsApp Business?
WhatsApp, which was bought by Facebook for $19 billion in 2014, has a strong presence in India (70 million users in 2017) as well as Asia, the Middle East, parts of Europe, Africa and South America. In rolling out its Business API, WhatsApp has incorporated tools to help organize, automate, and accelerate communications from businesses to consumers (B2C).
Here are 6 things you should know about WhatsApp Business:
1. A user must consent to receiving messages before a company can send that person messages.
2. All messages are tracked, which generates data on messages sent, delivered and read.
3. All messages are end-to-end encrypted.
4. It’s easy to create groups of recipients so you can reach many people in a few clicks.
5. You can create a business profile, which includes a description, corporate address, email address, and website URL.
6. You can send alerts and notifications to your customers, or answer their customer service questions.
How Eltropy’s Clients Benefit
Eltropy enables client-facing teams at financial institutions to engage customers and prospects over WhatsApp and to track the engagement in real-time. In so doing, financial institutions can provide a much better customer experience while driving revenue growth.
By design, the Eltropy platform drives engagement and accelerates revenue by combining clients’ preferred communications channel — WhatsApp — with real-time data insights to inform decision making. Adding the WhatsApp Business API could unleash Eltropy’s game-changing potential.
Eltropy would gain immediate advantages in two major areas: integration and compliance. With the WhatsApp Business API, Eltropy would achieve full system integration. That means all WhatsApp messages exchanged between a client-facing employee and a client would be analyzed using our proprietary AI algorithm and integrated into popular IT systems, such as Salesforce, Dynamics, Temenos, and others.
Eltropy would provide data-driven insights to help client-facing employees increase client engagement while creating opportunities to upsell and cross-sell. Integration also enhances the Eltropy platform’s flexibility — for example, Eltropy can offer customized workflows for each financial institution while providing the same advantages on both its mobile and web apps.
To meet compliance requirements faced by financial institutions, Eltropy (via the WhatsApp Business API) would be able to document and archive messages exchanged through the official WhatsApp accounts. The archival feature will help meet the stringent compliance requirements for Wealth Management, Private Banking, Insurance, and Asset Management sub-segments in financial services.
The arrival of WhatsApp Business is big news because messaging has become the world’s preferred communications channel. Now it’s clear that messaging will make deeper and deeper inroads into the business world. Because Eltropy combines the high open rates of messaging with analytics, its users can develop meaningful and personalized relationships to meet their clients’ needs. Want to learn how Eltropy can work for you? Speak to one of our experts or request a demo of our solution.