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Elements and Performance Criteria

1. Establish the monetisation of digital engagement
   • Identify task requirements and applicable legal, organisational and financial frameworks
   • Prepare criterion for channel monetisation according to organisational marketing strategies
   • Research opportunities for paid, owned or earned customer engagement
   • Select channel for monetisation
2. Create design interventions
   • Analyse digital processes for reliability and customer trust
   • Use authentication and security requirements for securing transactions according to organisational policies and procedures
   • Model the digital customer engagement to select points-of-sale and closure according to organisational strategies
3. Select and implement tools and technologies
   • Negotiate processing parameters with relevant stakeholders according to task requirements and organisational strategies
   • Evaluate and select payment processing tools and technologies
   • Identify and evaluate reliability of systems for the collection and analysis of transaction data
4. Monitor and evaluate performance
   • Conduct review of performance with financial analytics service according to organisational strategies
   • Track transaction metrics using suitable technologies
   • Monitor and identify gaps in performance against requirements and adjust as necessary
   • Evaluate and report on monetisation effectiveness to relevant personnel

Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

develop at least one strategy to monetise digital engagement.

In the course the above, the candidate must:

analyse digital engagement channels and identify and evaluate the opportunities to monetise digital engagement

devise measurable success criteria for monetised transactions

design a model of customer engagement showing preferred points-of-sale and closure

describe how digital authentication and security works to develop customer trust

evaluate, negotiate and enter into service agreements

identify, document and present trends and performance information from transaction data.

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Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

differences between paid, owned and earned customer engagement

barriers to streamlined transactions for digital users

features of digital applications required to enable transactions

engagement features of common digital financial transaction systems

features of current payment processing tools and technologies used in digital transactions

financial services legislation that impact on digital financial transactions

organisational strategies, policies and procedures.

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