Relevancy, Intimacy and Providing 'What the Customer Wants to Know'...
Customer expectations are changing rapidly. The customer has totally taken control of getting the information they need during the buying process. Robust searching tools and the growing use of information gathered from social and trusted sources have all but made traditional vendor messaging and unsolicited offers irrelevant. It's the new normal for the purchase decision process.
Customers expect vendors to keep up with their needs. Developing the ability to provide the right customers, with the right offer at the right time is critical to acquiring new customers and retaining current ones.
Optimizing marketing initiatives to meet customer expectations requires knowing the many different customer types and customizing offers to meet their specific needs. Customer analytics can provide the precise micro segmentation required to precisely define customer groups. Listening analytics, in real time, can provide the understanding of customer desires, sentiment, behaviors and expectations.
The early adopters, (examples can be found with Casino Operators, Hospitality and Retail industries), are using predictive analytics, real time listening and micro segmentation to dramatically improve conversion and response rates, upsell, overall revenue and profitability.
Companies sticking with legacy marketing campaigns, and marketing research tools taking weeks or months to understand their customers will find themselves crushed by their 'best practice' competitors.
What are your experiences with migrating to an intimate, real time, data and insight driven marketing environment?