Last year we had lots of talks related to AI-driven marketing efforts but the phenomenon is not so new anymore. And, because all the marketing aspects will have a deep integration of AI as we move forward, in future success will go to only those marketers who would be ready to adapt themselves to these technological advances.
If somebody has been telling you that you just need an online tool like https://www.setonlinealarm.com/ and stay on top of your marketing efforts by sticking to the basics and being more productive, they must spare a moment to closely look at where exactly we are headed with modern day marketing among all the technological advances.
So, let’s take a look at different aspects of how technology has changed the world of marketing in 2018 and what it can do to uplift your current marketing strategy instantly.
Capitalize On The Data For Helping Customers Making The Right Decision
Data-driven marketing has always been the top-of-the-ladder solution for marketers to generate more leads and close sales. The simple reason behind it is that marketing which drives value proves to be most effective. In today’s times of customer-driven businesses, marketing mainly aims at empowering people for making the right choices and developing an engagement with the brand.
As marketers can now have a 360-degree view of all their customers, they can understand what their customers truly want. Customer intelligence that you get from putting together all the interactions and data across different channels can be helpful because it gives marketers some great actionable insights to deliver a perfect customer experience.
Rely On Analytics For Understanding Intent And Making Predictions
A recent study revealed that 19% of all the marketers around track their marketing moves for driving improvement through reporting. The number is certainly quite low and, even though it might have improved ever since, more marketers should be doing that now.
According to Forbes, one major challenge for the CMOs is to transform their data into some actionable insights. While most of the marketing leaders can access analytics and data instantly, most of them do not leverage these tools effectively. Analytics is not just aimed at measuring ROI of your marketing campaigns, rather it helps explore how those promotions are going to impact every customer.
Different analytical insights may even help marketers in sorting out various offers according to the previous purchases they have made and the behavioral attributes they possess for making it a perfect win-win deal for all the parties involved.
Marketers can use analytics for creating a perfectly dynamic consumer experience that works in real time. The marketers who use analytics to their benefit can drive some really big changes harnessing real time data to get actionable insights.
Work With Predictive Intelligence For Segmenting The New Shoppers
More strategic segmentation of the new shoppers will allow you to personalize better. Make sure that you do not go for time-based old-school segmentation approach for grouping all the customers acquired recently into a single segment. Rather, you should take advantage of predictive intelligence at individual level for keeping a greater focus on those who have year-round potential.
Take advantage of machine learning tactics to have real-time prediction for custom behavior as well as RFM modeling so that your segments can be created according to recency, monetary value and frequency of purchase.
With predictive intelligence, you can be able to find patterns in the customer data that suggest:
- Customers who have higher average order value
- High purchase probability
- High customer lifetime value
When you rely on smart methodologies for segmentation, it helps in making an effective use of your marketing budget so that your focus can be on key segments rather than raining offers to all customers that you have acquired recently.
Use Embedded AI To Your Advantage
Retail space has been transformed by AI forever and that’s going to continue in future as well. From personalizing things based on real time data to automaton, attribution, logistics and customer service, AI & machine learning can certainly help marketers to anticipate the intent of their customers better and enhance their journey simply by adding a human touch to all the marketing aspects.
Better Integration And Big Data Use
CMOs often find it challenging to integrate the customer data seamlessly across different channels. To be honest, data integration doesn’t look as attractive as the data-driven marketing. However, that gives you access to all the data. In addition, doing this doesn’t just fall to the tech department but all of them across an enterprise. A good solution would be the implementation of centralized platform to collect customer data across different channels, data cleansing, data mapping and management.
All the machine-learning algorithms around rely on some centralized customer repository. No gaps should exist in the collection and integration of customer data. Actionable data is very granular often and it includes the details of all purchases, viewed products, carts abandoned, etc.
Nowadays, retail has turned more customer-focused. And, the marketers who’ve built a strong data-driven culture while following “Analyze, Personalize, Repeat” tactic can adapt only to ever-changing expectations and capabilities.