The aim with all behavioral marketing should be about increasing ROI, optimizing revenues, conversion rates, and improving communications with your customers.
There is more and more evidence to show this approach works. For example, Sainsbury’s Bank, in the UK, found a 750% increase in conversion rates, with open rates at 70%, once behavioral analytics and automated responses to customer actions were integrated with their marketing strategy.
Results like that are hard to argue with.
The key to achieving an ROI like that is not just from the information you will be continually gathering on your customers (because with every interaction, or lack of interaction, even, more data is being collected), but from having a deep knowledge of how users experience your digital assets. Why do customers do the things they do? Why click on certain pages? Why do they not click on others? Why are carts, bookings, queries abandoned, and what can do be done to fix the problem?
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Gary Lee, Director of Analytics & Usability at RedEye, an international digital agency, worked with one client for five years, resulting in over 300 different behavior supported emails, based on the thousands of different actions customers took on a website. Below is an example as to how ‘one basket abandonment email [can turn] into a multi-level program.’
Why does 86% of email go unread? Think back to the last email you received that was irrelevant to you. Did you read it to the end? Check out this Case Study on how to re-capture your audience’s attention in your own campaigns.
Basket abandonment is fairly simple. Cross selling other products, as aggregator websites do, like Confused.com, is another way to increase ROI. A more complicated method is to use content, because this requires a greater investment. Relevant, timely and informative content needs to be created in the first place in order to be ready to deploy.
Another example of of a brand using this method is Nespresso, which calculates customers’ reorder time based on previous purchases. They send automated emails, with tailored content according to different values: amount spent, time since last order (with different content for different trigger points), product preferences, and others, depending on interests, demographics, and seasons. They’ve seen a noticeable increase in ROI.
One thing to remember, is not to be creepy. Showing customers that you’ve taken an interest in them and what they do – especially when it relates to your brand – is a sure fire way to increase marketing attributable revenues. But being too forward and trigger happy with the automated responses is also the best way to give customers those lovely warm NSA style feelings, which means not sending emails like this: “8 minutes ago you were looking at product X123F.”
Brands which have made this approach work treat their customers as people, because they know far more about them than competitors. In return those customers spend more, are more loyal, and have a better experience with those brands who have implemented automation, segmentation and behavior driven marketing.
Attentive.ly is a social behavior platform for elite marketing teams. We help brands and organizations predict how customers and supporters will behave in the future – even what they might do or buy – from social data. It has been used by over 100 companies and organizations to improve thousands of email marketing and social media campaigns.