Holistic approaches to Customer-Centric Marketing win
2013 research tells us that consumers increasingly appreciate and value Centric-Marketing – 75% are aware of it and increasingly expect it, and 40% tell us they will buy more from you if you take a strategic approach.
This makes perfect sense – if it looks to your customers like you are being inconsistent across your communication channels, that’s by definition not the best experience for them. Similarly if you provide a disjointed experience across the different devices a consumer uses to engage with you, they will be left unsatisfied.
So what are the key elements of a holistic, strategic approach to Customer-Centric Marketing? Think of it as omni-everything – including omni-channel and omni-device engagement – all coordinated across the consumer lifecycle.
Consumers don’t think about a retailer as a set of channels. Their expectations is to have a consistent experience across every channel of interaction. The requirement for you is to have a coordinated conversation with consumers regardless of channel – via advertising, email, your website, in-store, on social media – even in print.
Data from hundreds of e-commerce organizations shows that when a consumers engages via two coordinated channels, revenue is 3X that of a consumer engaged in only a single channel. And when a consumer engages in three coordinated channels, revenue goes up by 5X.
One challenge is that many organizations are organized in silos – the team running your on-line initiatives may be different than that running your brick and mortar stores. Or the agency managing your advertising may not be connected to your department running email.
You could also create problems for yourself, and an inconsistent experience for your customers, by deploying a different personalized marketing solution for each channel.
This is where a strategic customer-centric marketing platform like MyBuys becomes critically important.The system automatically centralizes behavioral profiles for all consumers, across all channels. It coordinates personalized conversations with all consumers, again across every channel.
MyBuys breaks down the walls between your organizations and ensures consumers have a consistent omni-channel experience – which results in higher sales, greater loyalty and improved satisfaction.
Consumers increasingly use multiple devices to interact with you. It’s not uncommon for your most valuable consumers to converse with you from their home PC, work laptop, tablet and smart phone. The risk is that your marketing systems may think that each different device represents a different consumer – which makes it impossible for you to deliver an integrated experience from the customer’s perspective.
In 2013, more than 45% of the email processed by MyBuys was opened on tablets and smart phones. Nearly 20% of black Friday purchases were made from mobile devices. These numbers are only going higher – so it’s critical that you understand holistically what devices belong to which consumer and you both coordinate and optimize for their choices.
MyBuys leverages our network of 250 million consumers to automatically recognize and fingerprint every device used by a particular person. We automatically coordinate conversations across devices, and we ensure that the consumer has an excellent experience regardless of the type of device they choose use to interact with you.
It’s not at all uncommon for a consumer to interact with a MyBuys acquisition display advertisement on their laptop, respond to a site abandonment email from their iPad, and complete a purchase from their Android phone – all in a single buying experience. With MyBuys this is seamless for the consumer – which is why it works so well.
Full lifecycle engagement
Every marketer thinks about specific tactics, and even has specific budgets, for acquisition, conversion and nurturing. It’s also obvious to marketers that coordinating across these three phases of the customer lifecycle works vastly better than addressing each in a vacuum.
But like with different channels, technologies and organizational structures can get in the way. It’s common to have different people thinking about acquisition than about conversion. And different systems and technologies often don’t facilitate an integrated approach.
The MyBuys Suite is unique in specifically addressing, in turn, each phase of the customer lifecycle. Our display advertising and email offerings are optimized for acquisition, our web recommendations, email and display advertising all drive conversion, and our display advertising and email solutions include specific functionality for nurturing.
Together the MyBuys platform is highly effective across all phases of the customer lifecycle – which both improves your efficiency and drives customer satisfaction.
The Keys to Customer Centric-Marketing
These three omni-everything concepts together – Omni-channel, Omni-device, and full lifecycle engagement should be at the core of every Customer-Centric Marketing strategy. Deployed together, they can result in up to 25% higher revenue, 50% higher conversion, and 300% higher customer lifetime value.
To learn more, and to get started within 30 days – contact us.
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