How to Ace Event Based Marketing
Why do some marketers do so much better than others at being able to deliver highly personalized real-time messages through different channels? In most cases, it is because they are able to spot significant events in a customer’s life – events that helps the marketer understand his customer’s needs – and send him a message that is useful and engaging and relevant. And right at the moment when the customer needs it!
See the power of some great event-based marketing?
Events can be just about anything – an ecommerce website notices that a customer has abandoned his shopping card. Or there is a drop in the value of an order placed by a regular customer. The keen marketer notices these slight changes by tracking just about everything – and studying this data in the context of the customer journey (which he also tracks across various touchpoints)
Event-based marketing can bring several advantages to the table –
- You will a significant increase in what your marketing achieves – because your engagement is relevant and timely.
- Your customer is more likely to respond favourably because the communication is based totally on his need at that very moment
- You can easily spot opportunities for any cross and up sells
- You build a strong relationship with your customer as he feels understood and validated
- The customer feels that he gets an incredible customer experience every single time.
As we have seen, Event-based marketing makes it possible to offer new products or services to individual customers on any channel at the moment it is most relevant to him or her.
But you need to ask yourself some important questions first – questions that will define the strategy that you will adopt – questions about the events in a customer’s life
Questions like –
- Is this event important by itself? Does the event need any additional data to become significant?
- What event is more important than others?
- What are the channels that could be used for which events?
- What should be acted on now and what should be postponed to a later time?
- Based on this event, what should one do? Is this a retention opportunity or a sales opportunity?
- What extra information would enhance the experience of each customer for optimal service and benefit?
Finding the best offer
Once you have your events picked out for customers, categorise them into fixed and variable triggers – fixed event triggers have relatively predictable time components – could be birthdays or a yearly renewal of a contract or a recurring monthly deposit, etc. Variable event triggers are less predictable and can be more difficult to react to – address changes, or fund transfers etc. Monitor all these triggers and find the best marketing offer based on these triggers.
All this does not imply that EBM is a manual process – it just means that it needs human ingenuity and business acumen
- Most important – event detection is not event execution.
- Keep in mind that it is about your customer – it all about him and the data about his behaviour.
- Match all the customer opportunities that you see along with your business objectives
- And timing is everything. If you wait a week to contact your customer, you have definitely lost your chance.
- Plan your strategy – once you have this information, and data about the customer, what will you do with it?
- Use both inbound and outbound ways to connect with him
- Do things differently. Aim for inventiveness. Some events could be opportunities to communicate. Others would be effective only when bundled with other events or other data.
- There are so many tools that do this, in the market today. Choose your tool wisely – pick one that will do what you want.
- And you can’t stress this enough – use data. There is so much of it. Capitalize on it.
- Don’t annoy your customer by bombarding him with irritating messages
It takes a smart marketer, with a smart tool, to think out of the box and make all the magic happen!: