Imagine being part of a generation who grew up with the ability to get anything they wanted from the touch of a button. Now imagine those same experiences applying to everyone, how can you market to them whilst understanding their needs?
When considering the future of your marketing methods, it is important to not only consider current spenders but future spenders as well. Imagine knowing when they’re likely to spend too.
On average, a loyal customer is far more valuable to a brand than a new customer. On average it costs 70% more to acquire a new customer than market to an existing one. With this in mind, it is vital to build a meaningful relationship with your customers from the first point of contact, delivering the wrong message can create a poor experience and mean that potential customer never visits your website or app again.
This generation has grown up with personalisation being standard among services like Netiflix and Amazon, today it is increasingly expected as the norm. They don’t want to receive a marketing message that isn’t relevant to their tastes and needs. Personalised content and messages can mean the difference between that customer being long-term and loyal, and leaving you for a brand that will make them feel more valued.
So how can you make this happen?
Personalisation seems like a great idea, but how do you actually go about it? The good news is that this generation has grown up with the internet, as have many Millennials, meaning that there are vast amounts of data available to utilise in order to better understand your customer base, all you need is the right tools. 80% of consumers are happy to share data with brands in return for personalised communications, provided that they do it with their consent.
Big data analytics tools provide a particular advantage in that they take into account all available digital data with the consumer’s consent; they don’t scrape social media, and they are not social listening. This poses huge benefits for consumers and businesses, by offering more privacy and decision-power to consumers and providing more detailed and predictive insight to businesses.
An easy mistake to make is personalising the acquisition process, for example through targeted marketing, without following through the consumer journey. Understanding consumer behaviour based on personality, interests, and life events gives you key indicators of what products and services they might be interested in. Imagine you are a T.V. and internet provider for example, with real-time insight into life events, you can identify if one of your customers is going back to university and therefore market your services as a student bundle, ideal for multiple users streaming at once. Likewise, a coffee shop can identify which of its customers have upcoming exams and offer them a revision deal of a ‘skip the library: get your 2nd coffee free for a stress-free revision session at Coffee World.’.
By harnessing the power of big data you can personalise the user journey from sign-up, throughout the entire relationship and adapt alongside your consumer’s ever-changing needs. Personalisation isn’t just offering a football fan football tickets, it’s offering a football fan tickets to their favourite team on their birthday.
How can we help?
Learn more about how we can help your organisation deliver more personalised experiences. Book a demo today and see for your self how powerful our suite of solutions are.