Editor’s note: this post was brought to you by Ben Hartwig from Infotracer. We’ve enjoyed learning about marketing insights and trends from him and hope you do too! ??
In today’s uber-fast world, marketing efforts are quickly implemented to reach customers more effectively and easily. Companies are learning how developing a better understanding of their customers can help them improve customer experience. Learn more about the latest trends in acquiring customers.
Latest Trends in Marketing for 2020
The marketing world is progressing at an excitingly fast rate – especially for online and digital technologies.
One of the coolest new tools for customer acquisition is to use a reverse email search tool in order to learn more about clients. This method provides a more detailed analysis of a customer. Customers can research more information about their most valuable customers to develop a better understanding of their needs and to modify their marketing process to better individualise the client. If your business relies on making connections with decision-makers at large corporations, can be a godsend in helping you to acquire customers with larger influence and purchasing power.
Some other marketing trends we’re watching include:
- The rise of artificial intelligence usage – to better identify potential customers or to tailor the user experience to your current customers
- Evolution of social media advertising, including shoppable posts and how changes to social media platforms affect advertising and sales
- More brands offering interactive content through sales channels
- Businesses sending personalised emails to smaller, well-defined customer segments
- Use of influencer marketing, and whether micro-influencers may improve return on investment
- Use of content and video marketing – is content dead?
- The potential for more augmented reality and immersive experiences
- Soliciting user-generated content and building online communities
- Marketing for voice-controlled devices eg. Google Nest, Apple Homepod
- Improving understanding of consumer behaviour from brain activity and implementing neuro-marketing strategies
Not to mention, where the next few months and years will take us with the sudden new demand for remote work.
How Customer Insights Improve Marketing Results
The best marketers know that effective marketing requires a very individualised mindset. Successful companies segment their customers into different groups and create special marketing campaigns that resonate with those groups. They can also identify commonalities among the highest value customers so that they are better able to adapt their messaging to their needs.
Companies that use a reverse email search tool and that gather data about their customers in other ways can use this data to inform them about key metrics such as:
- The gender of their customers
- The age groups of their customers
- How their customers found the business
- Whether certain keywords led their customers to them
Knowing this key information allows businesses to allocate their budget more efficiently and optimise the investment they make in marketing to higher-value customers.
Companies can make the most of this information by using a data analytics tool that assembles their marketing campaigns into a dashboard that easily allows them to see all relevant data in one place. They can then use this data to help inform their cross-channel marketing decisions.
Importance of Analytics in Customer Acquisition
In a recent study conducted by Forrester Consulting, 64% of marketers said they believed they needed better data to identify potential customers and 67% said that acquiring customers is more challenging than retaining them.
Acquiring new customers can be an expensive undertaking, so many companies are responding by delving into their analytics to help improve their customer acquisition rates. Data is of massive importance in marketing; a solid understanding of this data provides so many insights and benefits. Here are some of the key benefits.
Improved Public Image
Businesses that understand their customers tend to have a better public perception, as they tend to be the ones that create their customer journey around their target customer preferences. This then allows for better customer engagement and the brand stands to become more respected than their competitors. When you have a positive public perception, which you may choose to invest in with Public Relations, leads are more likely to trust your business and convert to a customer.
Improved Targeting Efforts
Customer data can also help you improve your targeting efforts. For example, you may see a trend that shows that new people in the area may want to try new products or services. You can take advantage of this finding by offering a free demonstration, discount, or other marketing campaign targeted at this segment of your potential customer pool.
Once you understand the needs and desires of your customers, you can personalise your brand messaging and adjust your product strategy. No more do you have to rely on a generic ad campaign to try to appeal to the entire customer pool. Instead, you can create very targeted brand messaging for tightly defined audience segments in order to resonate with each group and thus yielding a higher return on investment.
This can give your company a competitive advantage, especially if your competitors are using traditional assumptions or only historical data that does not capture the evolution of the market. By having new insights, you can make the most of your data and craft your marketing message appropriately.
The Building of Valuable Relationships
Greater customer engagement can give businesses insights about customer behaviour and help them react quickly to noted problems or concerns. It can also help them anticipate future events better. Tracking customer behaviour can help you to build a better marketing strategy around what your customers have shown interest in, purchased, and reviewed. You can even integrate data from their social media activity to provide you with greater insight into your customer. You can then use this information to create new products and services that meet their needs.
While marketing strategies have evolved over time, one thing that remains constant is the need to understand your customer and adapt your marketing to them. By connecting data about your customers with action, you can personalise your message to your customer and increase your acquisition results.
About the Author
Ben Hartwig is a Web Operations Executive at InfoTracer who takes a wide view from the whole system. He authors guides on entire security posture, both physical and cyber. He enjoys sharing the best practices and does it the right way!