Hello guys! I hope you find this article in good health & spirit.
Just imagine. You had a thought one day in the morning while leaving for your office that you need to buy a new pair of shoes & with that view, you started searching online and reached to your favourite brand (Bata, for instance) website having new collections & arrival but you did not buy it.
The following day, you went to a shopping mall intending to buy a product & entered the retail outlet of your favourite brand & as soon as you entered, your mobile vibrates & message pops up saying ” Hi. We would like to offer you 20% discount on Bata’s new arrivals for your next purchase”. Suddenly, you feel delighted & your loyalty with the brand also gets extended for a longer period.
But the question arises? How did they know what the customers wanted to buy? Even if they know that he has visited the website earlier, how do they know that the customer was in the store?
Well, that is called “Personalized Marketing” or “one on one Marketing”.
This piece will be about this that companies are now adopting to integrate all channels in one & understanding the behavioural aspects of customers to make targeted individual ads, promotions, etc. It will be the concept & fundamental base learning on Personalized marketing.
What is Personalized Marketing?
Personalized marketing can be one of the strategies adopted by companies to deliver the individual based content to the recipients/customers with the help of data collected from various channels, analyses & automated technology present for the marketers.
But why do companies want to use it? What is the purpose of this strategy?
Well, this era of marketing is not about the masses. Rather it is about individual classes. The traditional view of marketing has gone now where T.V ads & radio broadcasting were being considered as the king of spreading awareness for your brand. Today, we have multiple channels & it is the basic responsibility of the company to be present at all of them & integrate that information to have one single customer view which includes the entire customer profile at once to give him the content of his choice, to make him feel special & increase the chance of a conversion.
In the starting of the article, the customer who wanted to buy shoes first went online to search about the products & landed to the website of his favourite brand which collected the information from cookies to know the behaviour of the user & collected one identifier e.g.: – his/her contact number. Now, this mobile number becomes the source once the customer enters the retail outlet & “Beacon” in the showroom detects & matches the identifier & sends the personalized message of discount. Well, this is also known as “Proximity Marketing” which we will let you know later but the integration of all sources comes out to be individual-based marketing.
[Note: – A detailed view on Beacon/Proximity Marketing will be given in upcoming articles]
But why I would share my data? What about my privacy?
That is very true but the entire point here is to have the individual level base & improved customer experience. For that, we have to give our data which helps marketers to streamline the service for the company. Trust is the main factor here.
Well, one thing regarding the misuse of data. It is true that with such data what is the possibility that the company will not use this the other way round. But for that, your trust & the company’s trust should go hand in hand & the policy of the company should be stringent enough for privacy like Google. If we talk about Google, don’t we know they have access to our data every time but do we believe that they will do something wrong with this? Well, I don’t think so because the trust factor on Google has been such that people believe in its core policies.
Similarly, here to help marketers to give you better experience & service, customers must give their data for personalization otherwise customers should stop expecting super experience all the time which shouldn’t be the case.
With this, we know how companies do individual marketing from a basic view. But what is the exact process to have a SCV (Single customer view) & what are the challenges that most of the companies face will be given in the upcoming articles. Till then, search more about the proximity/beacon marketing.