Today all that matters is how well your customer has enjoyed the experience of interacting with your brand. Because a great customer experience brings great advocacy and thus, greater sales.
Let’s dig deeper into today’s marketers' mind-map: They have a customer who is active on almost all the digital channels like email, Facebook, Twitter etc. They need to collect customer behaviour data from across all these channels to understand her better. With such intelligent consolidated data, marketers can come up with a personalized message for her that increases the chances of customer interaction by at least 14%.
According to the Aberdeen Group, personalized emails improve click-through rates (CTR) by 14% and conversion rates by 10%.
Allow me to get back to my Uber (made up) story again, for a moment. What will it take for the Uber marketer to pull such a stunt on me? Well, there’s a twist in the tale. Uber did nothing. It was the pub’s marketer the whole time. He has a record of my feedback from my last visit. Since then, I’ve been on their subscriber list and they are tracking me on social media. Now, through integrated data from across channels, they find out that I visit my friend's neighbourhood quite often but visited their pub just once. Like me, they do have more one-time customers who check in to nearby pubs. What they will do is get into a partnership with Uber, where Uber triggers a discount coupon for the pub and the pub pays Uber for that. This is modern-day marketing. A joint business effort to enhance customer experience.
More and more small-medium businesses like that pub, are adapting cross-channel marketing, starting with email and social media. And since they see a very high rate of conversions, they are ready to pump up their digital marketing budget.
As per an Entrepreneur Inc. study, companies are expected to spend $10 billion more on digital marketing in 2016 than they did in 2015.
So, if you are a marketer working towards improving your customer’s experience with your brand, you need a better understanding of your customer through integrated data from across different channels. This is a challenge, though. You are not expected to spend hours filtering out critical customer insights from big data. You are a marketer, not a data scientist. You need the most important data to be served to you instantly, and in a simple and comprehensive form, so you do what you do best – make better marketing decisions. To address this pain point, we have applications like FirstHive that work as your marketing sidekick as well as your data scientist. With FirstHive, you can create and trigger multi-channel marketing campaigns and track integrated customer data in real-time.
Thus, whether you are spending more on marketing, or adding more channels for your campaigns, or adapting cross-channel marketing, just keep a note that whatever you do, everything boils down to the customer experience.
Content credit FirstHive
FirstHive is the world's first Full Stack CDP to apply Machine Learning for building unified customer identities. FirstHive is an industry-leading Intelligent Customer Data Platform. FirstHive helps enterprises take control of their customer data and provide marketing organizations with a suite of tools that enable them to execute highly personalized campaigns that achieve exponentially higher ROIs.