Ever wondered why some standard conversation rates have been defined as 1-2% for Email, 3-5% for Telecommunication, 2-3% for SMS, 1-2% for Social Media?*
And interestingly, these minuscule conversation rates have come to be accepted as 'successful'. On top of that, there is always a constant risk that a customer might block all future communications if they don't find the current communication relevant to their needs.
We now fairly accept the fact that no human being is like another. Two people may be very similar, but they will always be different consumers, influenced by different attitudes and beliefs. As marketers, we have to accept the fact that there is just no way to appeal to any two buyers in the exact same way and doesn't matter how well we create customer segmentation. The likelihood that the offers/communications are relevant is fairly low - constantly proven by our standard low conversion rates.
To achieve better
results, we need to work on Customer Journey led Marketing Automation.
Customer Journey led Marketing Automation:
"Push marketing is parse, pull marketing is here to stay"
This is fairly new approach adopted by SpeedIT to better target consumers by putting them back in the driver's seat on a tightly controlled customer journey. Depending on which turn the consumer would like to take, the correct offering is automatically made available to them at the right time and at the right place.
Consumers, as always, would love to be in the driver's seat, the position which has lately been ignored by the push based marketing approach adopted by most of the marketers using digital channels. If we as marketeers, need to get ahead of the competition, we need to quickly adopt pull marketing approach by implementing Customer Journey led Marketing Automation.
Our design depends squarely on analytical customer profiling & building extensive customer journeys
- Standard Profiling: Standard customer profiles are created, which are usually based on following parameters: geographic, demographic & historical data
- Analytical Customer Profiling: An automated customer scoring model which constantly scores every customer on following parameters: Psychographic (Social class, lifestyle, personality) & Behavioural (User status, loyalty status, purchase readiness, product affinity)
closely with the organisation and bring our own industry best practices to
build extensive customer journeys, irrespective of channels. Building a mesh of
road network, which constantly uses standard segmentation & analytical
segmentation models to provide the next best offer or product information, at the right time - at the
right place, as and when 'expected' by the customer.
*The conversion rates vary from industry to industry