Some Digital Trends at the start of 2016
We are already a whole month and some days into it.
Everything is changing at one level – while on the other, it seems like nothing’s changed. Here is a look at a couple of digital marketing trends that we should all keep an eye out for.
- Whether you are a small or a large enterprise, in order to survive and then make it big, you need to understand your customers
This is not anything new – but this has become more important than ever before. Know your customers. It is said that great companies know their customers like they know their families. They know what they want. What they wish for. Their names. Ages. How much they earn. Their taste. Their interests. Where they live. How many kids they have.
Only those businesses that have this kind of information about their customers and who use it, are successful. This helps them give their customers exactly what they need. They can engage with them meaningfully regardless of the touch point that the customer uses.
So how do you do this? By using the data that is available. By using analytics that can derive all kinds of meaningful insights from a pile of data that might not make sense otherwise. Social Media is a great place to start – there is a lot of personal information about people that you can find here, and nowhere else. Get the information and use it to get to know your customers. Really know them. That could well be the differentiator between a success story and an also-ran!
- Marketing to customers and business strategy will be more data-driven than ever before.
Now that a business has access to all this data about its customers, it is foolish not to use it to base their decision-making on. Someone said that we create 2.5 quintillions of data every day! That is a mind-boggling, staggering amount of data that we produce. When this data falls into the hands of a good marketer, he realizes that he has access to a veritable gold-mine! When marketing and strategy is powered by data, the sky is the limit. He now knows exactly what each customer wants. When he wants it and how. So when he markets to them, he can send him the right message, at the right time.
There are sophisticated tools that are now available that can help a business sift through the data and derive meaningful insights from them. They don’t need to just wonder without any basis, any longer. You can analyze past behavior to get a good understanding of a customer. Based on an understanding of their past behavior analytics can prescribe courses of action to take. And what is more – you can analyze their past behavior to predict future action. All is this possible when marketing is data-driven. Data in the hands of the right marketer, who can apply the right analytics to it based on the right business strategy, can truly create magic.
Because of the amount of data that the marketer now has, any communication with the customer becomes data-driven and therefore, meaningful – meaningful because the marketer really knows and understands his customers, and knows what he wants as well.
- All this becomes possible because customers are slowly choosing convenience over privacy.
One of the biggest concerns about the Internet of Things and the amount of personal information that a business is able to collect about its customers, is the element of privacy. But there is no denying that all the ‘smart’ appliances and devices are only making our lives easier. Convenience is something that almost everyone expects – it no longer is luxury. People are still pretty careful and fiercely protective about their privacy, but when it comes to choosing between convenience and privacy, privacy is slowly starting to take a back seat. Simply because everyone looks for convenience. So if some data about them, makes a transaction less of a hassle, people are starting to opt for it.: