Data-driven marketing refers to a set of strategies and methods that extensively use client interaction data. Companies may better understand customer requirements and wishes to enhance brand impression and customer experience by analyzing and interpreting customer data and individual digital profiles. Data-driven methods make highly focused engagement and more excellent conversion rates possible.
Marketing strategies are occasionally based on a blend of gut feeling and prior experience. Directors and chief marketing officers use their knowledge to inform their traditional and digital ad campaign strategies. However, new techniques are required as real-time data and developing technology become more crucial to the success of marketing initiatives.
For many firms, marketing is one of the most critical factors contributing to sales. Therefore, companies continuously look for new and updated ways to market their products. In 2022, the U.S. digital advertising and marketing market is estimated at $460 billion, with an increasing growth rate. With that said, this blog elaborates on the essential marketing tools and trends that your business should use in 2023.
Have you heard of “woke washing”? It means prying on customers’ social awareness. Or have you ever been offended by a certain slogan or advertising? I haven’t, but every time when I see those skinny models wearing squeezing tights, I can feel the pressure. When I was in high school, body-shaming ads was firstly criticized, and the notion of embracing different shapes of your body was raised by brands. Following that, the need of equality and diversity has been realized and reflected in many ads.
B2B is always considered a more formal marketing form than B2C. But time has changed, and now businesses demand more personalized attention from them than before. So your potential clients are very different, and using more personalized marketing would play in your favor.
Are you finding website pop-ups and banners annoying? These aggressive ads may make customers lose their appetite in their journey shopping. Different from them, conversational commence offers your customers digital services that enable you to talk to each of your customers at once.
Conversations can happen anywhere customers are, such as on social media, messaging apps, and your website. Chatbots will be the receptionists when facing customers, and live agents or both will answer further requests.
Imagine walking into a store and finding nobody is greeting you or showing enthusiasm. How frustrated would you be? Even if you want something but need to learn how to buy it. Isn't it ridiculous? Without conversational commences, this happens in online retail stores all the time. Therefore, always appreciate the utilization of chatbots.
So, what is conversational commerce?
Conversational commerce (or conversational marketing) means using conversations to serve customers better. For example, if you purchase something online and you have basic inquiries, like "when will my order be dispatched," "How long is the shipping," and "what is my order number." A chatbot can quickly give you accurate answers according to your information. In addition, the chatbot will lead you to live service agents if you need another solution. In such situations, conversational commerce makes it possible to serve a large scale of customers at any time.
Why is conversational commerce important in marketing?
Conversational commerce is significant for eCommerce companies. Shopping online has become essential and shows value, especially during the global pandemic. As a result, chatbots can be implemented in different companies. Failure to provide chatbot service may lead to the loss of customers and competitiveness. Here are six reasons why your company needs conversational commerce in marketing.
Personalize your brand
As we know that humans trust humans. The gist of success lies in the way you approach your customers. Talking to an object can make your customer feel overlooked. As technology develops, many chatbots can now talk to customers like a human and even make conversations fun and interesting. Advanced chatbots based on machine learning can even analyze customers' sentiments and give them a proper response.
Simplify your customers' shopping process
As always, customers would prefer to spend less time reading the instruction of your company or your products. You can set short and clear greeting sentences or reminders through chatbots while talking to customers. Chatbots can also enable you to make a quick introduction before customers make decisions. Besides, multilingual chatbots can speak different languages. Therefore, they can save the time and effort of both you and your customers.
Give instant customer support
When shopping, customers regard to speed, friendliness, and helpfulness as the top qualities of a company. With the help of chatbots, companies can respond to customers faster. Moreover, a chatbot won't feel tired, so they are perfect for dealing with after-hours requirements. Common questions can be answered right away, and for further queries, customers can be advised to book a call or appointment during working hours.
Drive sales through chats
Chatbots facilitate both brands and customers to learn more about each other. For example, when customers want a specific product type, they must tell the chatbot, and the outcomes received. It means they no longer need to search in the store or feel confused about choosing the best product. This process will bring positive sales as customers are likelier to buy and return when brands seem eager to help.
Reduce order cancellation
In eCommerce, abandoned shopping charts indicate the industry loses $18 billion annually. Through chatbots, you can send customers who leave shopping carts reminders to remind them to complete their orders. In addition, you can check what has stopped customers from buying and finishing the deal. For example, if a product is sold out, a chatbot can provide customers with links directly to similar products.
Collect data and feedback
Except requires, your company must have received complaints along with praises. The feedback is of great significance to your business. Chatbots can ensure that your customer relationships can continue once the purchase completes. Automating follow-ups after purchases will be an excellent chance for you to know your customers. Since 63% of customers are willing to offer more personal information if they have a great experience, it is wise to analyze reviews or feedback to save live agents valuable time and improve customer experience.
In summary, conversational commerce can optimize your brand persona, make your customer's life easier, respond to your customer instantly, boost your sales, reduce abandoned shopping carts, and collect customer feedback.
Every day, 6000 to 10,000 ads are shown over the internet. Today, the market has become saturated with the greater rate of digitalization of the world. As a result, marketing has gone from human-based to internet based. Even though technology companies are evolving with the trend, it has become more challenging to stand out from the competition and pursue their customers.
However, here are the five tips that will help you change the game of marketing your software and boost your sale.
Instagram has over 1 Billion users around the world. Therefore, the probability of the user being your next business client is very high. As a B2B company, this is your cue to build a solid online presence to form a long-term connection with your audience.
Instagram has become a crucial starting point in digital marketing for many B2C marketers. But the truth is, B2B companies can also leverage the high brand visibility on this platform. Your strategy now is not limited to pitch meetings; you can reach a client halfway across the world.
Digital transformation is one of the most complex and unique topics. To understand its meaning, you have to think in two opposite categories: business today and the world tomorrow.
It may seem difficult, but it’s a lot easier than you think. Having a firm understanding of the current situation in the world is quite crucial - every pain point and every strength. Simultaneously it's critically important to be in a way where you’re living in the future, or even to predict what will be popular in some time, how people's skills will change, and what kind of technologies will rise.
Is your business still struggling with government regulations, security, and reliability requirements? Are you hesitating to use automation technologies to run and improve your business? Living in the digital era, many companies today are transforming their data centers to streamline operations and private cloud infrastructure. With the help of cloud capabilities, companies can quickly test and start new services and be agile to changes in the market. Undoubtedly, financial services companies must modernize the Cloud to serve customer needs. According to Statista, by 2021, global financial services companies spent $500 billion on information technology, while in 2018, they were expected to spend $400 billion.
How do you define digital transformation?
Simply put, digital transformation alters a company's core business model to take advantage of new digital technology. It is not enough to just digitize a product or service as it is also necessary to reimagine and reinvent it to provide it to clients in sync and perfect harmony with their ever-changing demands. As a result, businesses now face unprecedented pressure to digitally adapt their marketing techniques.
What do you do when you want to go on a long trip? Would you just pick up a bag and leave, or would you make an itinerary, plan your budget, book tickets, and fix a timeline for your trip?
Of course, the second option, right!!
It is always good to plan your itinerary so that the trip becomes memorable.
The same is the case for Marketing!!
What drives excellent results in Marketing? Is it the right target market? Is it the innovative thinking of the marketing team? Or is it the extensive data available for the marketing campaign? Well, the answer to that is all three are important.
It isn't uncommon for businesses to invest a lot of their resources into marketing activities and not see results. Many business owners find that their marketing campaigns are not producing the results they initially anticipated, and this ultimately comes down to the marketing strategy they have created. Many business owners have wasted valuable resources on tactics that simply do not work. Therefore, ensuring a solid marketing strategy is in place is crucial.
In the year 2022, having a market plan is almost a compulsion for any business that exists. Still, to have a market plan that will help the company grow, a business must have a strong marketing strategy.