We have been talking about One-to-One marketing for almost 15 years now. When the concept was first introduced, it grasped expansive attention and everyone started talking about customizing products or services based on individual customer. A lot of companies jumped on it, some with considerable preparation, most without proper one. Nevertheless, they all reaped benefits, substantial or limited.
So what’s about this concept that it’s still around.
“75% of marketers’ interest in one-to-one marketing has increased within their companies over the past year.” -Forrester Consulting, 2015
The biggest promise that one-to-one marketing delivers is customer retention and loyalty, the metric we all care about. But, it has never been easy to implement it to its full potential and organizations still curious about how to get it right.
“77% of Marketers State They Are Not Prepared for One-to-One Marketing.” -Forrester Consulting, 2015
Today it not enough to record customer’s history or track his social media engagement. The need is to also track real-time signals of intent left by his digital behavior and assess this behavior to deliver meaningful messages. This messages are not only personalized but also intelligent and contextual in nature.
The journey to real-time one-to-one marketing requires a strategy and a plan to reap results.
1. Know your customer
Understanding your customers current and potentially future set of needs is of prime importance. The unprecedented channel explosion has resulted in marketers losing the focus towards customer himself.
The average marketer surveyed reported using or planning to use 11 channels for contextual marketing and personalized messages – Forrester, 2015.
As I see, marketers need to capture, ingest and unify customer data from all touchpoints and store it in a centralized location from where they can get a full view of the customer profile. A single view of the customer is essential to one-to-one marketing.
Marketers using a single customer database are 16% to 30% more likely to have the capability to incorporate real-time marketing via email, online, mobile, the call center, and in-store.
2. Persuasive, personalized experiences91% of marketers are prioritizing improving customer experience through personalization
But the question here is, are we doing the personalization right? What’s staggering is that two-third of marketers who believe they are doing personalization well are missing the mark.
While 66% of marketers rate their efforts at personalization as “very good” or “excellent,” only 31% of consumers feel that companies are consistently delivering personalized, 2 cross-channel experiences, and 40% say that most promotions don’t deliver anything of interest.
Individual personalization can be achieved through:
-Single view of the customer against which you can personalize across all channels
-An integrated marketing suite that can allow you to execute cross-channel personalization
-Constant iteration and testing
- Marketers need to move from segmentation based personalization to individual personalization
3. Marketing campaigns and experiences across all channels
Once you have a single view of the customer and individually personalized messages, it’s time to activate the campaigns across all channels. A COPE strategy, Create Once and Publish Everyone (COPE), can allow you to create content in one location and publish it, customized, to any location.
This real-time one-to-one marketing creates a rapport with individual customers and influences them in their decision journey. To accomplish this strategy marketers need to work with technology partners who can implement their vision and help them achieve their objectives.