Fast Moving Consumer Goods is a category which has largely resisted disruption by digital marketing. But the huge spend on TV branding and other traditional channels is starting to be won away by campaigns that operate across multiple channels. The key shift here is one from product-centric advertising to relationship marketing. It doesn’t matter if you are selling nappies, beer, or make-up; you need to adopt a long-term service mentality in order to build relationships that are truly valuable. Otherwise this recessional economy will drag your core customers to new product brands as pricing dictates.
As investment in eCRM programmes increases, idio is well placed to join the dots between intelligent content strategies that engage your audiences and a strong data backbone that drives CRM with social and behavioural insight.
The increased competition in the telco market has led to a battle for customer engagement. You have tried campaign management, real-time marketing, real-time decision management and perhaps even tried a few ‘social’ campaigns. All of these capabilities are great for a while, they deliver fantastic results to begin with. But then things start to go south. The problem is twofold, firstly, a large part of your customer base is ‘fatigued’. They are just not engaging with everything that you are sending out. They have heard it all before. They are just pressing the ‘delete’ key, putting the phone down, or chucking it in the bin. Secondly, for those that are still listening, you have said all you have to say, basically you have run out of conversation, propositions and offers. (At least something completely new and relevant, there are only so many twists that you can put on what you already have!)
The answer is also twofold; you need to understand what your customers are actually interested in, not just a social demographic description of them, and you then need to extend the conversation beyond your products and services. This extended conversation then needs to be personalised for each customer but still linked to your brand. By analysing the public profiles of your customers and audience, and their interactions, idio helps you derive detailed knowledge about preferences, interests and behaviour that can be immediately used to improve future interactions.
Financial Services firms are facing the ‘perfect storm’ as increasing regulations and cost pressures are compounded by the global economic crisis. It requires a reinvention of many of the established and accepted ways of working, whilst operating in an environment of distrust, unease, regulation and recession.
But the core challenge, in these times of instability, is to consider your customers over their lifetime, not as an instant opportunity to exploit or problem to solve. By understanding the journey they are on, your marketing can play a more meaningful part of that journey, and you can build personalized long-term relationships that engender greater loyalty and ARPU. The mission (im)possible is to meet and exceed relentlessly rising consumer expectations.
And idio can help you achieve that through a personalized and data-driven approach.
The media industry has had a hard last few years. Most have faced huge drops in profitability, as audience attention splits across a huge range of sources and new upstarts enter the market with lower cost business models. People are consuming content, but are (mostly) not paying for it. The key is to monetise the audience, not the content. And to realise that in this new world, content creation has got to be cheaper and more efficient.
By providing a relevant content blend to every customer, you can build trust and loyalty as well as increasing content consumption. But it shouldn’t stop there. If you want it, you have access to a huge volume of interest and behavioural data that can be used to better recommend content, as well as products and service that create revenue streams for the business.
If you look at media owners as brokers of customer intelligence, the future is bright! idio works with newspapers, trade publications, digital media companies, and broadcast providers. Get in touch to find out how we can help.
Automotive marketing has historically been all about the launch of new cars; a very product-focused and inefficient approach that means little to the average consumer. Purchase decisions are moving from feature-focused to lifestyle-focused but the marketing is still around features. Advertising efficacy is decreasing and customers are splitting attention across many channels, and many not controlled by the brand.
Advocacy on social media is high for automotive (41% of auto purchases share their purchase online, way above the average for other product categories) and therefore servicing the ongoing post-purchase needs of consumers will likely result in not only increased loyalty but also a powerful advocacy effect. Indeed, those that are loyal to a brand or dealership are 50% more likely to advocate online than those that are not loyal to a particular brand.
The customer acquisition funnel is non-linear and splitting across many channels/devices. There is a decrease in purchase cycle (under 3 months for 81% of purchasers) enabled by the increase in research sources available through search. 38% of new vehicle buyers will use social media to research their next vehicle purchase and 41% said they saw a social media post that caused them to add a brand or model to their consideration. There is a clear need for a shift from mass broadcasts to personalized communications, to meet the non-linear funnels. Enter idio.
Travel & Hospitality
Although the tourism and travel market is starting to recover and grow – agents face a real challenge: customers are increasingly purchasing directly from airlines and hotels, and online sales are taking over. idio provides a simple way of engaging with your potential customers and exposing them regularly to your brand.
Imagine a gap-year student in the months leading up to her big trip. By offering her relevant and personalized content you have established yourself as an authority in the subjects in which she is interested. Having looked at what she reads and what she shares, you have learned about her favorite topics, her personality and reading habits. And now that she knows you a bit better, she’s starting to realise that she has a connection with your brand. When she comes to book her trip she thinks of you first. She goes to your website to buy the flights, to book hostels for the first few nervous weeks. She has a great gap-year; you have a loyal customer.
At idio, we give travel clients the tools to deliver content to their customers in real time, which is personally relevant to each individual user. This helps you build a position of trust and authority with your customers and gain meaningful insight as a result. They come to you to consume content in which they are genuinely interested, you are giving them a reason to want to engage with your brand. Not to spend money, nor get a quote, nor complain, but because they view you as a trusted resource.
Independent market research firm eMarketer released a recent study claiming that business-to-consumer (B2C) ecommerce will increase by 17 percent globally in 2013, with worldwide sales expected to reach $1.2 trillion. While the Asia-Pacific leads in growth, North America maintains its lead in actual sales, with North America spending $373 billion in 2012, which is expected to rise to $420 billion in 2013.
What’s more there is still significant room for growth in developing markets where many internet users are still not buying online. Western Europe and North America are the only regions in the world where a majority of the online population is also a digital buyer, but this also offers another opportunity where innovation can help cut through all of the competition and make sure your branded products are the ones these digital buyers purchase.
Idio tracks all content a user engages with across multiple channels, whether this be on your branded website, your emails or social channels. Through these interactions we gather a deep understanding of their interests at that point in time, which can be used to select the most relevant content for them to consume next, again delivered via any channel. This has a huge affect for eCommerce, which was demonstrated with our work with Econsultancy, a leading hub for Digital Marketers, where they used idio to understand what each customer was engaging with, and used this understanding to recommend other articles and branded white papers. The results speak for themselves. A 251% Growth in conversation rates and a 414% growth in revenue as the content and products being suggested were relevant to the customer.
The retail space is fast moving and very competitive, so the pressure is always on to innovate. The biggest challenge with the huge growth in the digital has been for retail outlets to thrive online as well as online. But more importantly it is integrating the online and offline so the journeys are seamless.
There are many new solutions and ways to tackle this problem, with the integration of digital screens within stores, online sales leading to incentives to be redeemed offline, ordering online to collect in-store and the latest innovations involve ins-store wifi to pinpoint where customers are so you can get insight into customer movements and send targeted offers relating to their place in the store to push them to purchase.
However, imagine if you could marry product purchasing history and store location habits with the interests a customer has. This would provide marketers with a rich amount of insight of their customer base that could inform anything from your next marketing campaign to future product developments. Idio enables brands to track customer’s content interactions across multiple channels to build a unique interest profile that can be used to personalize future communications or merged with other data sources to give this rich customer insight and empower marketers to be more relevant with their customers.
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