Today’s online consumers have the world at their disposal.
They can choose from a variety of brands, sticking with the one that gives them the optimal benefits in terms of both product and value. In such a competitive environment, the brand that ultimately wins the sale will be the one that can offer the best deal for each individual customer.
Furthermore, studies show that generating business from existing customers yields more profit than trying to acquire new ones. Therefore, it’s worthwhile for online brands to get to know their customers very well in order to get a precise understanding of each of their unique needs, and address them in every brand-consumer interaction.
What Is Precision Marketing?
That’s where precision marketing comes into play. Precision marketing is an innovative strategy in which marketers analyze the specific wants, needs, interests, and behavioral patterns of particular user segments.
Because of their improved understanding, brands are better situated to fulfill the needs of individual groups and significantly increase the success and effectiveness of their marketing communications.
For example, if you’re a site that wants to target middle-class teenage girls, employing precision marketing tactics helps you create promotions catered to their tastes by showing sales on items such as nail polish, clothes, and handbags.
In contrast, if you were to target their fathers, for example, their behaviors and product preferences would be completely different. Precision marketing strategies help you to instantly distinguish the differences in behavior and interests to help you make smarter and more tactical business decisions.
Which Tools Can Help?
While the key benefits of precision marketing are easy to comprehend, having access to the data necessary to implement such strategies can be challenging. That’s why technologies have been created to help the cause.
Precision marketing tools help you zone in on customers’ demographic, behavioral and emotional differences, so you can create long-lasting customer engagement and loyalty quickly and easily.
Here are three technology vendors that empower brands to achieve the holy grail of precision marketing:
Optimove’s cloud-based predictive marketing technology is truly a game-changer. Their Customer Marketing Cloud uses big data to gather insights into customer behavior, tendencies, and personal preferences, allowing marketers to attain the emotional intelligence necessary to gain loyalty and increase revenues from existing customers.
Optimove gives its clients an array of intelligent data-driven insights, helping to boost the effectiveness of each and every campaign and promotion. As a result, their clients have more return customers, less churn, and increased overall sales.
No matter who your customers may be, chances are they are on social media. Social media is where people have conversations, promote stories they love, and rant about everything they hate. Obviously, through such insights, you can gain quite a bit of information to help you better understand your customers.
Sysomos can make it happen. Sysomos gathers data from leading blogs and social media sites to help you better understand your customers’ patterns of behavior. This way, you can send individualized messaging and gain a better perspective on what makes them tick.
Since your marketing team will be able to understand what motivates your target audience, they can touch on their pain points as well as their everyday experiences.
For example, discovering that a specific individual is a huge football fan, an engineer, and hates Donald Trump can give you numerous ways to connect with that specific person on a more casual basis.
In general, since consumers today tend to appreciate a friendly relationship with brands, this helps to achieve a deep emotional connection between your brand and your target consumer--so much so that sales and loyalty are likely to dramatically increase.
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There are tons of email marketing platforms out there, but Silverpop beats them all by delivering smarter, personalized email campaigns. The platform differentiates itself by its ability to create tailored newsletters for specific customer segments.
This way, your customers are much more likely not only to open your email but also to click through. Since it's difficult for many email campaigns to achieve high click-through rates and conversions, having important behavioral data can help maximize the benefits of your email marketing campaigns, a major win for any E-commerce professional.
Getting to know your customers on a “personal” level is becoming increasingly necessary. As the digital shopping experience evolves, shoppers are easily enticed by companies that try to create bonds and can adapt themselves to fit their personal needs.
By tapping into each customer’s preferences, you gain the points necessary to build genuine relationships and long-lasting customer loyalty.
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