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Why Brand Identity is the essence of Technology and Business?

December 9th, 2016 Comments off

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With the recent quarrel between FBI and Apple, the conflict hit on where we are and where we are heading, with business and technology. Today, it more than handy tools which people use for entertainment and convenience. More focus is given on “identity”.

The reason why Apple was rigid as the hack signified an intrusion on privacy. By hacking phone of Syed Farook, a direct window is provided to his identity and who he is. If Apple would have agreed on hacking the phone, a trapdoor to other iPhone users would have opened. However, FBI was able to hack the phone without the help of Apple and Apple wants to know how it was possible?

Was Apple’s stand for user’s privacy valid? Should companies protect identities from snooping eyes? Or should user’s identities be a fair game for companies that want to use them? So far, more has been witnessed.

Liquidity and Power of Identity

Customers and businesses both have a stake. Today, user’s identity is taken for granted and is treated as a commodity. The touch-point in high-tech business centers on the identity of the customer. Consumer and business alike trade in the liquidity and power of identity. Most of the identity protection issues have taken place in American businesses. As per Square’s guide to EMV(Europay Mastercard Visa), The United States possesses almost half of the credit card fraud. A new processing device should be deployed which will accept EMV cards. Most of the local businesses have compiled while some still haven’t.

As of the new EMV requirement, if a credit card fraud is committed by a magnetic strip card, liability is on the business. Precisely, credit card fraud is basically identity theft. So now, if the organisations want to shield customer identity then they should deploy high-tech systems and devices. Is this ironic or appropriate? Time and again, without providing the customer a choice, organisations trade in customer identity. But now, the organisations don’t have a choice but to safeguard the identities they trade in.

Factors which are linked to user’s identity are spending habits of users; their preferences, location etc. are a part of tech-savvy sales and marketing. These days, data and information of consumers is a hot topic. Our actions determine who we are. Today, what we do, what activities’ we carry out on social platforms and the websites we visit without deviation influences business determinations. Moreover, consumer behavior determines the brand identity of an enterprise.

Consumers Signifying Brand Messaging

Nowadays, the brand owner cannot signify the meaning of the brand. The transformation has taken place and customers are the ones signifying the meaning of the brand. With consumers getting educated, it is difficult to influence a customer and form a perception in customer’s minds. From TripAdvisor to Amazon, social media and websites provide the experience of others in order to mold the perception of a potential purchaser.

Web Technology- basically peer reviews and social media- consumers can have the same power which organisations want to have over them. The power signifies the capabilities of an entity. The intersection of technology and customer perception develops a relative and fluid identity for brands, as brands should react to perceptions of consumers. Organisations are watching consumers, consumers are watching organisations, decisions are determined on the basis of our observations. Dynamic feedback circle is created.

Personalization

Personalisation has become the key for brand development. With dynamic personalization, brands analyze data which is marketed directly to consumers, witnesses Return on Investment six to eight times greater than non-personalized efforts. Moreover, it is reported that personalization helps in boosting sales by 10%. Consumers undertake their own research before buying something almost 90% of the time. Brands wish to influence research efforts.

There are brands which seek to establish an identity along with users. However, as per Gallup pollreport, 62% of consumers have reported that their buying decision is not at all influenced by social media. Marketers still implement social media strategies like influencer marketing. The most effective channel for customer acquisition is influencer marketing. Facebook is the leader of the charts with 27% of the share. Why still social media strategies are formed and implemented if more than 50% of the people aren’t influenced by it? This clearly shows the dislocation between brand perception and consumer perception

A new playing field is created for business due to the intersection of technologies and identities. The Apple v/s FBI case has witnessed the struggle of Apple in order to maintain a brand image which users associate with user identity protection. Organizations which use data for personalized marketing is a power struggle. Are the purchases of the consumers influenced by brand more than the brand identity influenced by consumers? The answer will eventually define how people identify with brands and what exactly brands do with the data.

 

How to Turn Anonymous Visitors into Successful Customers?

November 29th, 2016 Comments off

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Marketing has evolved. Though, one of the biggest challenges in the marketing of converting a visitor to a customer and then a loyal customer is still prevalent. Studies show that almost 98% of website visitors are anonymous. Online businesses have the aim of converting of every visitor to a customer and urging them to come back again. However, achieving this objective is not a onetime activity.

For any kind of product, you will come across hundreds of competitors. Moreover, the prices don’t vary much, making it much more difficult for customers to make a choice. Everyone is competing on the same lines, even the media industry for increasing their readers’ base. Today, almost most of the content is free and pooled widely across social media platforms making it a struggling battle for publishing and media houses to earn profits.

With the evolution of marketing, it has become important for brands to understand their target audience and create personalized messages accordingly to turn visitors into customers. Here comes the tricky part when marketing professionals have to create content knowing nothing about their visitors. However, there are certain ways in which brands can increase the probabilities of converting a visitor to a loyal customer or maybe register for a mailing list or subscribe for newsletters. Data is the starting line

Create unknown User Profiles Based on Past Behavior

It is important for marketing professionals to understand their customers completely for personalized online interactions. Though, it is very difficult to do that as a brand knows very little about the user visiting the website. Worry not. There are some ways for the same.

First thing is to use the data that is already at disposal in the organization utilizing data management platforms. DMPs usually gain data from the brand’s digital platforms like websites, applications, CRM systems etc. CRM tools are of great help determining quickly whether a particular visitor has visited the website earlier or not. Data related to which page a particular visitor visited, did they purchase, for how much time he was on the website etc. help marketing professionals understand how to create content or reach to the visitor.

Even if a visitor has not visited, DMPs can help in collecting data from second and third party websites and tools. This comprises of data from partners, social media, subscriptions, ERP software, CMS and some other analytics tools.

These tools and combined data enable marketing professionals to understand which product is trending among a specific group of consumers or which products are consumed the most etc. Using such data points they can form a basic assumption of the anonymous visitor.

Examine Visitor’s behavior real-time

When visitors are spending time on the website, marketing professionals are getting real time data in plenty helping them to understand the interests of the visitors. After visitors have spent some time on the website, check the history and their behavior in order to calculate their intent. DMP helps in collecting the data in real time to give more personalized content to users. You need to prepare a set of questions like what pages visitors are visiting, on which page they are spending more time etc.

This method helps in delivering relevant content and advertisements to users. This helps in killing two birds with one stone wherein this will also help you in examining teaser campaigns showing visitors what they could gain if they are paying for a particular product or a service pushing them more down the conversion funnel.

Real-time Personalized Experience

You can create real-time personalized experience with such rich data sets. This helps in increasing user engagement. However, having data is just not enough. It is important to analyze and then take appropriate actions or form strategies accordingly. Not every brand can analyze data and take further steps. Personalizing users’ experiences is important as it serves the purpose of data collection. Combining the two will enable marketing professionals to get a clear picture of what the users are interested in. They can develop relationships with their users making them feel more close to the brand.

Data is the first step in converting a user to a loyal customer. With data, marketing professionals can create a customer journey customized as per the users’ interests. Combination of both first party and second party/third party data can help marketing professionals to customize every visit irrespective of the number of times a user is visiting. To be precise, it is all about developing an all-round view of a prospect creating a personalized journey wherein they are encouraged to purchase and come back again.

How IoT Technology will Impact Online Marketing

November 21st, 2016 Comments off

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With the rise of Internet, many technological developments have taken place competing against each other. Virtual and augmented are fierce contenders, however, a bigger phenomenon is Internet of Things. With IoT, users are now having internet connected devices from refrigerators to thermostats.

The technology of having connected devices everywhere is pretty exciting. Let’s see how this technology will have an impact on the world of digital marketing

Search on conversational queries

Now, searches have become conversational queries rather than one or two specifically selected keywords. Users now are asking long form questions. With the development of digital assistants the acceptation and interpretation is through vocally- input user queries.

Soon keyboard entries will almost disappear with the IoT technology becoming more common in homes. Steadily users will get used to this method of search and keyword based queries will get vanished practically. This will lead to an enhancement in conversational engagements.

A fall in organic click through rates

With the increase in conversational engagement, organic click through rate will decline. Users will be dependent on IoT technology for the functioning of almost everything in their daily lives wherein the conversations and orders can be placed without the need of visiting the website. If we go deep, this can be a bad thing. Users won’t be visiting your website so often. However, a middle step of the process can be eliminated if it is played right. You will optimize your website to be found by IoT searches and not for click through rates in search engines.

SERPs will disappear or transform

Considering the above two points, it is possible that SERP will vanish or transform as Google and other search engines will integrate themselves with the new online experience and thus causing users to no longer visit the website. There are certain points to be considered like previewing a product before the final purchase or going through some information. This information can be provided directly by Google’s Knowledge Graph and existing digital assistants.

Google might not be the primary focus

Till today, Google plays a dominant role in search engines. It is predicted that this dominancy will continue even if the traditional methods of SERPs and search change. However, you will not worry about only Google. Users will use IoT to find information, products and videos which means that the user will have to adapt to a variety of different technologies.

A complete shift to personalization

Personalization is the new trend. Social media experiences and online searches are evolving to become more personalized. Users wish for personalized experiences to prevent the feeling of mass-marketed and to get more relevant content and information. With the growth of IoT, personalization will be more feasible. The potential of personalization is beyond present conception and it is going to play a huge role in search results in near future.

The growth of residential marketing

When more homes shift to smart homes, purchases and searches will be more for residential purposes. It will be of utmost importance to get the products and information in front of residential consumers. This should also go beyond the potential for search optimization. If you are making your products and information available through some IoT technology, it becomes essential to advertise the same. If you are catering to a particular niche target audience, it is important to know how your target audience is using IoT in their homes.