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How marketers can use behavioral data to improve customer experiences

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How marketers can use behavioral data to improve customer experiences


“Marketers are expected to deliver campaigns that cultivate rich customer experience and drive brand awareness, all within a quick turnaround time,” said Megan Sangha, Senior Product Marketing Manager at Wrike, in her presentation at our MarTech conference. “Things could be different if science and data were combined within a single source of truth platform to help drive better outcomes.”

Digital disruptions are occurring more than ever before thanks to the 2020 pandemic and technological innovation. These changes have altered the way consumers behave in the purchasing process, which has in turn forced brands to accelerate their digital transformation efforts.

“With consumer behavior drastically shifting to digital, this world is crowded with competitors quickly working to capture consumer attention,” Sangha said. “Marketing executives are struggling to stand out from competitors while trying to keep their current customers. “

“Now more than ever, marketers need to be innovative and creative with their tools and data to quickly deliver eye-catching and innovative campaigns to stand out among the rest,” she added.

Despite the prevalence of tight deadlines and dwindling resources, marketers are expected to provide customers with engaging experiences. To combat this, Sangha recommends turning to psychology, gleaning behavioral insights from buyer journeys.

Use behavioral science to understand decisions

“Behavioral science is a great strategy for optimizing campaign performance through the help of psychology,” Sangha said. She pointed to a helpful diagram (shown below) that illustrates the customer decision-making process from a psychological perspective.

Source: Megan Sangha

“The large circle is exposure or brand awareness,” she said. “Brand awareness can be found in obvious areas like the ad you see when you’re scrolling through social media or a pop up that you click on . . . Exposure is always on, always changing, and always influencing decision-making.”

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Sangha then went on to describe the top and bottom points of the circle, which represent the “triggers” and “purchase” phases, respectively: “Triggers are where a consumer starts their journey. It is influenced by either exposure or a need.”

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Consumers then move down into the “messy middle” of the circle, which is the phase wherein they being exploring and evaluating brand offerings.

These explorary and evaluation stages are where brands have the opportunity to build brand loyalty and customer satisfaction. Sangha said these are strengthened through “great customer experience, smooth transaction, and in today’s world, fast delivery.”

Understand cognitive biases that influence purchase behavior and decision-making

“Consumers are moving back and forth between exploration and evaluation, depending on the size of the purchase,” said Sangha. “For marketers, it’s not so fun. And it’s definitely not efficient. How can we get our customers from triggers to purchase? Through psychology.”

She added, “As people explore and evaluate within the messy middle, cognitive biases shape their shopping behavior and influence why they choose one product over the other.”

Source: Megan Sangha

Sangha described six primary cognitive biases (shown above) that affect consumer behavior. Whether it’s consumers’ propensity to buy things perceived as scarce or those recommended by authoritative sources, it’s vital that marketers know what’s affecting their decision-making processes.

“Understanding behavioral bias and the customer journey are really important,” Sangha said. “Marketing teams that use these principles and psychology see higher customer satisfaction, lower customer turnover, improve the sales process and finds better advocacy from current customers.”

See also  What is marketing automation?

Use behavioral data to optimize channel performance

“To drive better [customer] decisions, marketers need to ensure the information being provided is consumable to the masses,” said Sangha. “We don’t want stakeholders to be overwhelmed with spreadsheets and intricate dashboards that become complacent with their decision-making.”

Presenting this behavior data in a coherent fashion to other departments will help coordinate your marketing efforts companywide, leaving less room for discrepancies in customer experiences across channels. But with so many signals being tracked, it can get overwhelming quickly.

“There is so much thrown at digital marketers,” she said. “They’re using different channels, platforms, solutions, and tools to track assets, campaign, user, customer performance data, etc. And every piece of data gives them insights on market trends and consumer behavior.”

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“The only problem is that right now most digital marketers are manually piecing everything together, which means they’re spending way too much time tracking and pulling together data instead of viewing, strategizing and executing,” she added.

Sangha recommends marketers adopt a project management platform to help ensure customer data is clean and applied to the relevant channels, which helps optimize campaign performance: “A recent McKinsey study showed that digital marketers spend 80% of their time manually sifting through data, pulling together spreadsheets or dashboards to track performance data, and only 20% of their time is spent on strategy.”

She added, “Think what you could do with your campaign strategy and overall outcome if you were able to get more time to strategize versus sifting through data.”

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Marketing work management: A snapshot

What it is: Marketing work management platforms help marketing leaders and their teams structure their day-to-day work to meet their goals on deadline and within budget constraints, all while managing resources and facilitating communication and collaboration. Functions may include task assignments, time tracking, budgeting, team communication and file sharing, among others.

Why it’s important today. Work environments have changed drastically due to the COVID-19 pandemic. This has heightened the need for work management tools that help marketers navigate these new workflows.

Marketers have been at work developing processes that allow them to work with those outside their own offices since marketing projects—campaigns, websites, white papers, or webinars—frequently involve working with outside sources.

Also, with marketers required to design interfaces, write content, and create engaging visual assets today, more marketers are adopting agile workflow practices, which often have features to support agile practices.

What the tools do. All of these changes have heightened the need for marketing work management software, which optimizes and documents the projects undertaken by digital marketers. They often integrate with other systems like digital asset management platforms and creative suites. But most importantly, these systems improve process clarity, transparency, and accountability, helping marketers keep work on track.

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Read next: What is marketing work management and how do these platforms support agile marketing


About The Author

Corey Patterson is an Editor for MarTech and Search Engine Land. With a background in SEO, content marketing, and journalism, he covers SEO and PPC to help marketers improve their campaigns.



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MARKETING

How is the Blockchain Shaping the Digital Marketing Automation Tools?

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How is the Blockchain Shaping the Digital Marketing Automation Tools?

It is no doubt that most of us are aware of what blockchain is and how it has shaped the future of digital marketing automation. If you are reading this article, then you might be wondering what exactly is the difference between blockchain and digital marketing automation?

What Exactly Is Blockchain? The blockchain is a decentralized ledger system that records transactions between two parties. A block stores information about previous transactions, so each block contains a link to its previous transaction’s record to prevent double-spending.

The users will have their copy of the record on their device so they can keep track of all the changes made in that particular chain by any member of the network.

The Blockchain Is Creating a New World

The blockchain is a new technology. It’s based on the idea of decentralization and peer-to-peer networks, which makes it different from traditional centralized systems. Blockchain technology uses a distributed ledger to store information, making it impossible for a hacker to modify the data stored on the network.

The blockchain can get used in many ways, including cryptocurrencies like Bitcoin or Ethereum. But it also has applications in other industries such as digital marketing automation tools where marketers need fast access to information about their customers or prospects without having to go through an intermediary (like Google Analytics).

Some companies have started using this technology as part of their product offerings by providing users with access to their data through APIs that they can use however they wish (for example: visualizing trends over time).

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How Digital Marketing Automation Tools Work

Digital marketing automation tools work by task automation like sending emails, creating landing pages, and tracking the performance of your marketing campaigns. These tools can help you save time and money by automating tasks.

See also  What is marketing automation?

For example, let’s say you want to reach out to more leads on LinkedIn but you don’t have time to send them an email every day. With a digital marketing automation tool like HubSpot or Marketo, you can set up an autoresponder sequence that will send out emails automatically so all you have to do is check-in once in a while and make sure everything’s running smoothly.

Prepare for the Future of the Blockchain Marketing

As technology continues to evolve, the blockchain will play a pivotal role in digital marketing. This is because it offers a secure and reliable platform that marketers can use to communicate with their audience. In addition, it also provides better transparency than traditional marketing methods because of its decentralized nature.

Below are some of the ways that marketers can benefit from using blockchain:

  • Security: The blockchain offers greater security than traditional methods of digital marketing since it doesn’t rely on central servers or third parties.
  • Efficiency: Using blockchain technology means there’s no need for middlemen or intermediaries when conducting transactions online. This improves efficiency by cutting out unnecessary steps between two parties looking to transact business with one another; this saves both time and money for both parties involved!

Secure Digital Marketing Tool Designed on Blockchain

A digital marketing tool designed on blockchain will be more robust and secure. Blockchain technology is a decentralized, distributed ledger technology that helps in recording transactions between two parties efficiently.

It also ensures that the records cannot be tampered with once they get recorded. This means that if you buy a product from an e-commerce website and pay for it using cryptocurrency (a form of digital currency), then no one can hack into the system and change your transaction record to avoid paying you the money.

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In general, blockchain offers marketers several benefits:

  • It allows for better data sharing and storage than traditional databases
  • It offers enhanced security features because there is no single point of failure
  • It can help companies boost productivity by integrating both humans and machines

Blockchain Protocol That Ensures Safety, Security

Don’t worry, you can still use digital advertising. You just need to trust the blockchain protocol that runs it.

Ad-blocking software has made digital advertising ineffective already and will soon make all digital advertising completely ineffective. You see, if you are using ad-blocking software on your computer or mobile device, then you’re not seeing any of the ads being served to people who aren’t using ad blockers.

This means that advertisers must pay for each impression (or view) of their ads, even when those impressions do not get seen by anyone at all!

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By adopting a blockchain protocol for their digital advertising campaigns, marketers and publishers can verify which impressions are being seen by humans and prove whether or not they were delivered effectively before paying for them.

It is worth mentioning that the benefits can be multifold as is already visible from the other spaces like the cryptocurrency markets. Numerous traders are gaining from the rising cryptocurrency prices. So, digital markets too must watch out for this technology.

The entire industry benefits because everyone is working together instead of trying to scam each other through fake views on fake websites with fake content created solely for financial gain without any real value-added back into society whatsoever!

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Digital Technology Is Changing Everything

You probably already know that digital technology is changing everything. But what you may not realize is that blockchain is one of the biggest and most important digital technologies to come out in years.

Blockchain can be a difficult concept to grasp, but it’s worth learning about because it’s changing the way we do business, marketing, and advertising—even as we speak! The best place to start learning is by understanding what blockchain means. It’s essentially a decentralized database that allows information (such as financial transactions) to be stored on multiple computers rather than in one location. This makes it more secure than traditional databases which are usually stored on just one server or computer system.

Conclusion

As you can see, the blockchain is changing the way we interact with technology. It’s also changing how we experience marketing automation tools, and how they work. The future of digital marketing will be shaped by this new technology, which means marketers need to start exploring how it can be applied to their jobs now.

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