Consumers have changed. They no longer buy in the same ways. They no longer decide what to buy in the same ways. And, more importantly, they no longer hold the same expectations of a brand that they held even yesterday. In fact, many consumers now feel brands should know exactly what they want and when they want it—and deliver hyper-personalized experiences to win their wallets.
If brands can deliver that experience, they will be rewarded. Research has shown that feeling connected to a brand makes consumers 70% more likely to buy from that brand. It also makes them 60% more likely to recommend that brand to others and 50% more likely to spend more on that brand. Some studies even point to an increased customer lifetime value of more than 300% when consumers connect emotionally with a brand.
Crafting personalized experiences to establish a connection is no small undertaking, especially on a large scale. Fashioning very personalized experiences for millions of individuals who are interacting with your brand requires great coordination and orchestration of multiple technologies, processes, data flows and human creativity to achieve success.
Enter the personalized “Continuous Revenue Marketing Blueprint.” This document is a road map designed to help brand leaders create a marketing system that interacts with customers in the elevated manner they now expect.
The Splendid Seven
Employing personalized Continuous Revenue Marketing can be game-changing for a brand. It can help deliver the right message to the right person at the right time—and do so at scale and speed. But to properly orchestrate such a targeted approach, you must first understand the roles of the seven major components required for implementation.
1. Customer
You can’t be all things to all people. Delivering any type of experience means understanding the intended audience, and that requires research. Work to gather insights into the needs, behaviors, motivations and attitudes of your target customers. Then, leverage this information to find opportunities for personalized experiences along the entire customer journey.
2. Content
With content, quality will always win over quantity. Content at scale, however, had historically been problematic—that is, of course, until content automation came along. Content automation uses a combination of customer data and advanced algorithms to compile and deliver more personalized communications across channels to customer segments. Quality content tailored to the individual simply makes for a better content experience.
3. Channel
The customer journey is no longer a linear one, weaving from one channel to the next before arriving at your door. With people taking any number of paths to purchase, reach comes into question without technology. AI takes the guesswork out of where, when and how to communicate with potential customers. You can instantaneously serve the right message on any addressable channel—social, website, email and so on.
4. People
Technology can do only so much for marketing campaigns, personalized or otherwise. Effective execution requires a range of specialists working together as one delivery unit to customize engagement models and customer experiences to the brand and its objectives. Going with a one-size-fits-all software solution can leave you skimming the surface of personalization.
5. Processes
Though technology handles the customization and delivery of content across channels, proven operating procedures are still necessary for monitoring customer experiences. For example, if a current events change customer sentiment toward your brand, processes must be in place to adjust your messaging in response to the changes that engage customers in new ways.
6. Platforms
The view of the individual customer—and their unique path to purchase—becomes much clearer with the correct platform. This allows you to predict which content and experiences will be most influential at each touchpoint to move customers further down the sales funnel, enabling personalization at scale across each touchpoint and channel in real time based on customer engagement.
7. System enablers
Technologies don’t always work together as a coordinated system without enablers that provide guidance for data usage. Open data exchange standards, for one, connect first- and third-party data to make customer information usable. Consistent data taxonomy can pool data, allowing for the application of predictive models. Brands also need a means for enabling predictive algorithms, tracking and managing activity across customer touchpoints, and automating when and where to engage customers.
The proof is in the pudding. Studies show that personalization can drive five to eight times better marketing ROI. Some brands have seen upward of eight times the ROI when employing more personalized marketing tactics.
Achieving success requires a mastery of combining technology and data with the right team of experts to establish a human connection with customers at scale. That’s personalized Continuous Revenue Marketing at its finest.
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