Then new Global Marketing Trends 2021 report from Deloitte Insights is based on two surveys: the first, of almost 2,500 adult consumers in selected countries in North America, Europe, the Middle East and Asia; the second, of over 400 C-suite executives, including CMOs, from U.S. global companies.
The main headlines: the interconnection of trust and loyalty, and the importance of brands being able to pivot fast.
A loss of confidence. Particularly striking is the loss of confidence among executives in their ability to influence their peers and make a strategic impact. In the case of CMOs, the percentage of confident executives fell from an already very low 5% last year to 3% this year (for comparison, CEOs saw a fall from 55% to 35%.
Consumers, on the other hand, had a relatively positive perspective on how brands are responding to the current environment: “Almost four in five people could cite a time a brand responded positively to the pandemic and one in five strongly agreed it led to increased brand loyalty on their part.”
The 7 top trends. The specific top trends identified by the report shared in common, said Deloitte, “breaking out of our often defensive mindsets to more holistically — and authentically — meet human needs.”
Purpose: Flourishing brands will be those that know why they exist and who they are built to serve. “(C)ompanies which know “why” they serve their stakeholders are uniquely positioned to navigate unprecedented change.”
Agility: Successful marketers will be those who invest in agile marketing strategies. The pandemic-triggered recession is not one that will reward retrenchment over imagination and innovation.
Human connections: Making authentic connections is now more important than speed-to-market or efficiency. “It’s the choice between taking a cheaper flight or a safer one; buying clothing with the fastest delivery or from the supplier with the most ethically designed supply chain.”
Trust: Trust arises when what’s promised is what’s delivered. Messaging should be transparent, and delivering on those messages should be consistent and reliable. Also, think about shifting your focus from demographics to values.
Participation: Customer engagement at a deeper level, going beyond passive responses to activities like writing online reviews, givign advice to fellow customers, joining conversations (whether with the brand directly or on social media), and creating content relevant to the brand.
Fusion: This trend recognizes the power of innovative business partnerships. As an example, “ExxonMobil partnered with a global tech company and a local car care brand to create a ‘digitally enabled car maintenance experience.’ A data platform created through the ecosystem enables customers to receive maintenance recommendations and make online reservations to have cars serviced; at the same time, it enables ExxonMobil to not only fuel vehicles but also ensure they are running safely and effectively.”
Talent transformation: Marketing teams need to develop new talent models to differentiate themselves in a rapidly evolving digital environment. “(M)arketers can develop a core team comprising roles that best reflect their competitive advantage. Traditionally, these roles include those responsible for data insights, dynamic content creation, and owned and earned media.” And don’t overlook the flexibility created by the gig economy.
Join us Thursday, October 29th at 12 p.m. PT, for the Oracle Cloud CX Virtual Summit exploring how leading organizations are re-engineering their marketing, sales, and service processes. Larry Ellison will lay out his vision for the future of customer experience, followed by leaders at Ricoh, Motorola and Hyster-Yale who will share their strategies for harnessing data, and delivering the right message to the right customer at the right time.
To make every customer interaction matter, organizations need to listen to their customers and rethink the way they market, sell and provide service across every touchpoint. If 2020 has taught customer experience leaders anything, it’s the need to be resilient in the face of constant change. Get executive viewpoints on the importance of unifying data across your business and empowering every employee to respond effectively to customer expectations.
Hear real-life success stories and lessons learned from Oracle CX Sales and Oracle CX Commerce customers.
Learn how to visualize your path to sales and commerce excellence.
Get the latest product news and a glimpse of what’s on the horizon.
One of the only things that stands between us wrapping up this insane year is what we’re all describing as an unprecedented holiday shopping season. Tons of survey data has been released, numerous predictions have been made, and marketers have been cha…
One of the only things that stands between us wrapping up this insane year is what we’re all describing as an unprecedented holiday shopping season. Tons of survey data has been released, numerous predictions have been made, and marketers have been challenged to develop strategies and plans unlike any other plans for previous years. While you’re thinking outside the box and finalizing your holiday email campaigns, I want to encourage you to revisit your standard preparation for this season as well.
Here are 5 things to check off your list:
1. Data Feeds
Ensure all data feeds and triggers are working as expected, especially those for remarketing campaigns or opting in customers. Also, keep an eye on your feeds and triggers throughout the holiday season. A quick glance at send reports on a regular basis can help to catch issues early.
Check in on deliverability and work to mitigate concerns now. The last thing you want is for all your hard work to go to waste due to poor inbox placement.
3. Campaign Design Audit
Audit your campaign designs within the inbox on desktop and mobile. According to Litmus, every email has 15,000 different rendering previews. Take a moment to validate templates are rendering correctly for an optimal customer experience including content display, links, and images.
4. Targeting and Personalization
Increase targeting and personalization by using customer information and behavior data to stand out from the vast increase of messages during the holiday. This can be as simple as personalizing subject lines.
This last one is something everyone hates to address. But I promise you, it’s the most important thing you can do to help yourself this holiday:
5. Be prepared!
Things happen: sites go down, promotion codes don’t work, products sell out... and the list goes on. Prepare your contingency plans now. Have offers approved and creative ready so that you can quickly pull the trigger to help mitigate customer dissatisfaction.
Want to learn more? Check out Merkle's 5 Fundamentals for the Holidays Guide here.
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It’s no secret that 2020 has proven to be an unprecedented year for many reasons. As we continue into Q4 and finish up the year, there are a number of key considerations that will impact media programs across all industries. In this vlog, Merkle’s Erin…
It's no secret that 2020 has proven to be an unprecedented year for many reasons. As we continue into Q4 and finish up the year, there are a number of key considerations that will impact media programs across all industries. In this vlog, Merkle's Erin Spice will walk through four key factors to keep in mind as you’re planning and activating media this quarter.
Want to learn more? Check out Merkle's Q4 2020 Media Insights Report here.
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As a field service provider, daily operations are hectic to say the least. But an excellent field service team functions like a well-oiled machine in which everyone knows what to do, where to go, and when to do it. Their secret? Field service management software. It exists to help streamline, automate, and optimize your business […]
Having trouble viewing the text? You can always read the original article here: 7+ Facts About Shopping Cart Abandonment & Recovery
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Shopping cart abandonment is the most heartbreaking of conversion killers. it is also a fertile place to increase the performance of your website. Shopping cart abandonment is like cholesterol: There is a good kind and a bad kind. For each there is a strategy for reducing the impact of abandonment on your business. Good abandoners […]
The historic events of 2020 have had a significant impact on society and life as we knew it. COVID-19 has amplified consumer concerns around wellness and finances, while heightened awareness around social injustices have driven many consumers to examin…
The historic events of 2020 have had a significant impact on society and life as we knew it. COVID-19 has amplified consumer concerns around wellness and finances, while heightened awareness around social injustices have driven many consumers to examine where and with whom they choose to spend their dollars. While much has changed, the results of our updated Merkle Loyalty Barometer survey indicate that many consumer perceptions remain constant regarding loyalty programs.
Customers have come to expect personalization when they’re shopping online. They’re starting to see this as a standard service and appreciate receiving special, tailored offers. Ecommerce personalization enables you to treat every customer like a VIP. And when customers feel like VIPs they’re more likely to stay loyal to your brand. Ways to keep customers…
Customers have come to expect personalization when they’re shopping online. They’re starting to see this as a standard service and appreciate receiving special, tailored offers.
Ecommerce personalization enables you to treat every customer like a VIP. And when customers feel like VIPs they’re more likely to stay loyal to your brand.
Ways to keep customers happy include providing them with a seamless customer service experience. For example, implementing VoIP technology is a great way to handle incoming calls. Other ways to keep satisfaction levels high include offering a customized shopping experience like no other.
In order to build a customer profile (or buyer persona) you need to gather data from your existing subscribers and buyers. One good source of data is the information that’s input when a customer signs up to buy or subscribe to your newsletter. When you have amassed enough data you can dig through it to identify common traits that many of your customers have. Such as, if they are in specific age groups or genders. Then you can use this information to help you create an ideal customer profile and targeted campaigns for people in those demographics.
Having customer profiles will help you implement personalization strategies. It will help you monitor your customers’ behaviors (This is something that customers are generally happy for you to do, so long as it leads to them having an improved shopping experience).
Once you can identify customers by their profiles, you’ll be able to offer them products or information that may be of interest to them.
When you ask people to create accounts, make it easy for them to do so by adding a checkbox at the checkout that nudges the customers to add their details.
2. Segment email subscribers
You can segment your email lists by geographic data, demographic data, psychographic data (lifestyle, activities, etc.), and behavioral data (based on purchases, browsing behaviors, etc.)
Once you’ve segmented your lists you can make sure you send appropriate content, for instance, based on a customer’s location. Say you’re promoting a ‘winter sale’. You only want to send out emails to subscribers in locations that are currently, or are soon going to be, wintry.
Pair your email campaign with a landing page to boost conversion rates. Send subscribers an email that reflects their purchasing history – along with a link to a landing page that tells them more about those products or services. Linking them to a specific landing page (rather than the generic homepage) increases the likelihood of them taking action.
Personalize email subject lines to include subscribers’ first names and send out celebratory birthday emails with special money off vouchers.
Other ways of personalizing include sending emails inviting customers to leave their opinions. These business review examples can give you an opportunity to reply personally to subscribers who love your brand as well as respond to criticisms.
3. Create personalized homepages
Homepages are your online store’s front door. So apart from making sure, your landing page is optimized, make sure you give customers a warm personalized welcome based on their purchases or browsing history. By using tracking cookies you can see which pages a previous user has visited and present them offers that might be relevant to them.
If, for example, someone has previously visited a blog on ‘how to start an ecommerce business’, next time they visit you could invite them to download an eBook on order management systems.
Or, for instance, if someone has previously browsed the ‘15% off boots section’ on the ‘women’s sale’ page you can show them ‘new women’s boots just-in’’ on the homepage next time they browse your site.
Having this information also opens up further marketing opportunities in terms of email updates about new products that might fit the bill. If, for example, a customer has expressed an interest in creating sales literature for their website, you could send them an email inviting them to use your online digital brochure maker.
5. Personalize product pages using location data
For example, you can personalize sizes and currencies based on the visitor’s store selection. This means shoppers no longer have to use size conversion charts for each product category if they’re shopping from abroad.
If a visitor has already selected the US on the top bar on a previous visit, you can make sure they’re taken directly to this store next time they visit.
6. Capture visitors when they’re about to leave
When visitors are about to leave your site, show them a personalized offer based on their browsing activity – either to complete a purchase, sign up for your newsletter, etc.
Fashion brand Minimum offered the following incentive to customers in order to get them to complete an order. The campaign was wholly successful with a conversion rate of 37.4%.
7. Offer incentives to win back customers
Personalization can not only help you win and retain customers, but it can help you win back old ones. If certain customers haven’t purchased from you in a while, use retargeting ads. Include offers based on previous purchasing history along with incentives such as special one-off discount codes to give them a reason to shop with you again.
8 Use live chat software or chatbots
Most companies still use the same pop-up chat messages for all visitors on their site. But it makes far more sense to personalize the introduction message based on a visitor’s URL, their behavior, or any other data you can collect.
Once you understand behaviors you can deliver price discounts or other incentives to persuade a visitor to proceed to purchase.
eCommerce is here to stay and shoppers are demanding an ever more personalized shopping experience. You need an eCommerce personalization strategy to help you attract and retain customers.
Which aspects of personalization you choose to invest in or focus on is a major challenge. This is primarily because personalization needs data and infrastructure, which takes time and budgets to build.
This is where an A/B Testing tool comes in very handy – to run experiments at scale with statistical reporting to precisely know the impact of each tested variable. Once the personalization variables of value are known to you, you should then set out to invest in them.