The aim of the investment is to offer Ocula the possibility to develop its services and products while prioritising its customers and their needs, preferences, and demands.
Following the announcement, Lloyds Banking Group mentioned that its fund will be delivered in the form of new equity capital while completing the investment round made in November of 2022.
One of the services that are set to be improved through this deal is Ocula’s software platform. The tool was designed to allow companies the opportunity to make better decisions when it comes to their banking services, as well as develop in the market with the support of AI-driven products. Furthermore, the platform represents a solution that optimised the ecommerce experience of many retailers, sports teams, and businesses in the UK and North America.
The algorithms used by the company take multiple data and information sources in order to create the most effective and convenient set of prices for each product its clients may be interested in. Furthermore, Ocula mentioned that another two insight modules are aimed to be improved, the Ocula Boost and the Price Optimisation solutions.
The products provided by the company are divided into different categories, prioritising the needs and requests of its clients. The modules incorporated are Ocula Boost, the Price Optimisation solution, as well as the Customer Intelligence tool.
Ocula Boost leverages the AI platform and it focuses on analysing the site of the customer and providing them with the needed information. This includes data on rank insights based on predicted value and effort, identifying actions that improve the experience of the client base, as well as their accessibility and performance, with the priority of ensuring that the employee has their focus and spends their time on the right areas of the business.
Customer Intelligence is a product that allows organisations to be on time with the current challenges that appear when it comes to services. While using this solution, companies can identify which users to engage with, while understanding the opportunity size of current customers and differentiate the segments that are outdated, and difficult to action from the easier ones. Businesses can see their client groups and the factors that influence growth, churn risks, and predicted lifetime spending. Moreover, the segments will be exported to systems like CRM in order for the proof to follow up.
Customers can also benefit from the Price Optimisation product, which offers commercial teams order to clear ticket price recommendations, focused on growing both revenue and attendance. The ticket pricing process offers users multiple choices and benefits, such as seat and tier-level prices that are refreshed hourly, a simple interface, and numerous demand signals.
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