Personalized Marketing’s Future Looks Engaging: Tips

4 Dec

As we know, personalized marketing is a big deal. Thus, personalized marketing’s future looks engaging [pun intended 🙂 ]. Let’s see why. And offer several tips.

 

Background on Personalized Marketing

So, how should we define personalized marketing? Consider these observations from three prior posts:

  • One of the toughest issues for marketers is how much to personalize. On the one hand, firms need as much customer data as possible to target individual shoppers. On the other hand, many customers want their privacy. And they do not appreciate it when they are overly tracked. [1]
  • In today’s high-tech marketing environment, personalization is a major competitive advantage. Thus, personalization can involve products such as the NikeiD footwear line as well one-to-one communications. As Conversant Media puts it: “Virtually everyone agrees a personalized message tailored to an individual’s wants and needs is more apt to drive a sale than a general one.” [2]
  • Neustar (a data-intelligence firm) published a report on personalized marketing. “Customers expect it. And technology enables it. As a result, brands that deliver it generate huge increases in ROI. Personalization goes beyond adding a customer’s name to communication. Customers expect relevant content in the right channel at the right time. Whether on a brand’s Web site, a social network, or an E-mail inbox. For brands, delivering one-to-one experience at scale requires leveraging complex data sets, processes, and platforms.” [3]

 

Personalized Marketing’s Future Looks Engaging

Consulting giant McKinsey & Co. produces excellent FREE material. And it covers diverse topics. Recently, it published this article. “What Shoppers Really Want from Personalized Marketing.” In that article, McKinsey notes:

“Gotten an unsolicited and irrelevant offer on something you’ve done online? Know the creepy feeling that ‘someone is watching me’? This reaction is the third rail of the drive to personalize interactions with customers. And that’s a problem because, if done right, personalization can be a huge hit. Targeted communications that are relevant and useful create lasting customer loyalty and drive revenue growth. The challenge: To personalize in a way that doesn’t cross lines and delivers genuine value and relevance. But how do you know?”

Click the image to access the article.

Personalized Marketing's Future Looks Engaging. Overview.

 

Personalized Marketing Tips

According to McKinsey, what do consumers value most?

 1. “Give me relevant recommendations I wouldn’t have thought of myself. Shoppers don’t want constant reminders of products they’ve already bought or searched for. Especially if the ads appear either too soon, too often, or too late in the process.” Instead, personalize products. The figure shows a McKinsey example of this. 

Personalized Marketing's Future Looks Engaging. Product recommendation stage.

2. “Talk to me when I’m in shopping mode. Previous order data can provide useful cues about activities. Such as ordering a gift for someone’s birthday or anniversary.”

3. “Remind me of things I want to know but might not track. So, help shoppers track specific events. Such as when someone may be running out of an item bought earlier. When a desired item is back in stock or on sale. Or when a new style is launched for a product or category the shopper has often bought.”

4. “Know me no matter where I interact with you. Thus, communications that seamlessly straddle online and offline experiences make a customer feel a firm really knows them.” And the figure shows a McKinsey example of this.

Personalized Marketing's Future Looks Engaging. Personalized discount.

5. “Share the value in a way that’s meaningful to me. For instance, loyalty programs and purchase data are useful. (a) By telling firms the products an individual customer buys. (b) By seeing how often he or she buys. (c) Be learning when they buy. (d) And by knowing what product categories they never buy. Thus, personalizing (‘gamifying’) the experience leads to purchases and new buying behavior.”

 

Booming Growth Means Enterprise IoT Security Imperative

1 Dec

The Internet of Things (IoT) has a bright future. And we have posted on this topic many times. One huge field is Enterprise IoT. Thus, we discuss it in the first part of our post. Then, we look at the enterprise IoT security imperative.

According to TechTarget.  “IoT relates devices, objects, animals, or people with unique IDs. And it offers the ability to transfer data over a network. As such, it works without human interaction.”

Now, let’s review the IoT:

 

Background: Enterprise Internet of Things (EIoT)

To begin, what is the Enterprise Internet of Things?

According to John Greenough for Business Insider:

“The EIoT will be the largest IoT sector — enterprise, home, government. Because firms have the funds to buy IoT devices and services. Their EIoT benefits will accrue and spur adoption. IoT devices range from robot-like units to chips that hook into machines. They let users control the device or collect specific data.”

As

“Connected IoT products allow for in-depth knowledge of how their use. Besides new ways to interact with customers over the product life cycle. And to deliver large amounts of product data and information.”

In sum, McKinsey states:

“EIoT is rather new. Yet, 98% of survey respondents said most firms in their industry have EIoT plans. And they lift service operations and make operations clearer. Thus, they enable new business models and create new product offerings. For instance, a firm can create IoT services for better product quality. Besides lowering customer costs, these uses could transform business models.”

To understand this better, look at the McKinsey chart.

Booming Growth Means Enterprise IoT Security Imperative. Infographic Tips.
 

The Enterprise IoT Security Imperative

With the importance of EIoT comes the need for strong security. And at all costs, we must protect data.

Steve Hashman is Director of Marketing at CUBE. In that capacity, he has prepared the following infographic. And he titled it: Are we creating a secure Enterprise Internet of Things?”

Our thanks for the infographic. As you see, it cites valuable tips. So, be secure with your EIoT!

By clicking the infographic, see a larger view.

Booming Growth Means Enterprise IoT Security Imperative. An Infographic.
 

Certain U.S. Travelers Like Loyalty Programs — And Use Them

30 Nov

As we know, there are various types of loyalty programs. And these include programs tied to banks, retailers, gas stations, etc. Among the promoted programs? Travel-related programs. They offer loyal customers free rooms, airline travel, upgrades, and more. This post focuses on travel programs. Certain U.S. travelers like loyalty programs — and use them.

 

Background

Often, firms go to great lengths to attract loyal shoppers. And with the competition today, that is not easy. In some instances, shoppers dislike loyalty programs. Period. In other cases, they use the programs infrequently. So, firms need to get their acts together. The goal: active customer loyalty.

Consider these posts:

Click the infographic.

As we know, there are various types of loyalty programs. Among the most popular programs? Travel-related offerings. They offer loyal customers free rooms, airline travel, upgrades, and more. This post covers travel programs. Certain U.S. travelers like loyalty programs -- and use them.

 

Certain U.S. Travelers Like Loyalty Programs

Travel loyalty programs offer tangible benefits. To wit, earn specified points. And receive a reward. Yet, travel programs are NOT in the top tier of loyalty programs. Surprising? Maybe. Maybe Not.

eMarketer reports that:

“Travel loyalty programs are popular with travelers. But they don’t have the same following among consumers overall. And this applies to young people. A survey of Internet users in North America from CrowdTwist found retail programs had the highest adoption among those 18 to 37. Meanwhile, travel and hospitality programs were in the middle.”

Thus, the bottom-line question: Travel-related firms have to work to increase use of their loyalty programs. So, what could they do to attract young adults?

Certain U.S. Travelers Like Loyalty Programs. But they rate low.

On the plus side, travelers like loyalty programs. In particular, they use hotel and airline loyalty programs. And business travelers have higher engagement than leisure travelers.

For further information, we again turn to eMarketer:

New data from Phocuswright and Acxiom found that 4 in 5 U.S. travelers were members of a travel-related loyalty program. Naturally, the point of such programs is to help drive revenues and add to the bottom line. eMarketer estimates that digital travel sales in the U.S. will total $189.62 billion this year. And that figure will grow to $219.69 billion by 2021.”

“The Phocuswright and Acxiom survey found that business travelers were more committed to loyalty programs than leisure travelers. This was across pretty much every segment of the travel market. The obvious reason:  They are apt to travel more frequently. For instance, 62% of business travelers had signed up for a hotel’s loyalty plan, compared with 54% of leisure travelers.”

Certain U.S. Travelers Like Loyalty Programs -- And Use Them, B2B vs. B2C.

Top Authentic Global Brands — Credibility Pays

29 Nov

As we noted in August: Why do most people trust those whom they know and .org Web sites? And distrust mass media and .com Web sites? In a word: credibility (authenticity). People’s trust is hard to earn and to retain. Thus, today’s post highlights the top authentic global brands for 2017. See how popular these brands are.

Before reading further, look at these past posts:

 

2017’s Top Authentic Global Brands

Cohn & Wolfe is a communications firm. Each year, it publishes a report on brand authenticity. For the 2017 report, it says:

“The Authentic Brands study covers authenticity in business.  And it reviews attributes associated with an authentic brand. Also, it studies authenticity from diverse viewpoints. These include consumer, investor, and employee attitudes and behaviors. We surveyed 15,000+ consumers across 15 markets. And we asked about perceptions of 1,400+ brands. Then we applied our proprietary algorithm to determine the Authentic 100. In sum, this index ranks global brands by perception.”

“In addition, We determined the top authentic brands in 15 countries.” [We note these in the next two sections.]

The top ten global brands show this listing. From a global consumer perspective, American brands dominate.

  1. Amazon.
  2. Apple.
  3. Microsoft.
  4. Google.
  5. PayPal.
  6. Adidas.
  7. Intel.
  8. Lego.
  9. Hewlett-Packard (HP).
  10. Rolex.

Click the image to view the top 100 global brands.

Top Authentic Global Brands -- Credibility Pays. Authentic 100.

 

2017’s Top Authentic Brands in the U.S.

With the 2017 study, Cohn & Wolfe identified 50 U.S. brands. “In the U.S., 62% of respondents said they would buy or be interested in buying a brand viewed as authentic.” And the top five among U.S. consumers:

  1. Amazon.
  2. PayPal.
  3. Burt’s Bees.
  4. Crayola.
  5. M&M’s.

To access the U.S. list, click the Amazon logo. Then, scroll down the page to the United States.

 

Top Authentic Global Brands -- Credibility Pays. Authentic 100. U.S. Top 50 Listing.
 

2017’s Top Authentic Brands Outside U.S.

Also In the 2017 study, Cohn & Wolfe identified the top 20 brands in 14 other counties:

  • Brazil.
  • Canada.
  • China.
  • France.
  • Germany.
  • Hong Kong.
  • India.
  • Indonesia.
  • Italy.
  • Singapore.
  • Spain.
  • Sweden.
  • United Arab Emirates.
  • United Kingdom.

To access the global list, click the Ikea logo. Then, scroll down the page. And choose a country.

Top Authentic Global Brands -- Credibility Pays. Authentic 100. Top 20 by Country.ng.

 

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