Businesses need to deliver what their customers want to survive and win. Today’s customers are in charge with how they engage with brands that is why brands must understand what their target audience needs and wants to remain relevant.
Critical elements in the online strategy
Individualism has taken the place of personalization. Individualism in marketing means anticipating customer intentions to provide them with an experience they want and desire. Although the concept of individualism has been around for some time, only a few organizations use the concept. Marketers must know how a specific interaction can be individualized for a customer and not simply make use of available customer data.
A new ally of marketers is internet of things. Brands can no longer ignore the internet of things because by 2020, it is expected that consumers will own at least 20 connected devices. The world will soon see trillions of connected devices and it is important for marketers to explore how the information on the IoT devices can be used to understand how consumers interact with various platforms and channels. Marketers can directly tap on the data from the devices that consumers are interacting with.
Based on a recent Oracle report, it was revealed that by 2020 Artificial Intelligence (AI) and Virtual Reality (VR) will be shaping customer experiences. At least 78% of brands have implemented or are planning to implement AI and VR by 2020 to serve their customers better. The most recognizable forms of AI are chatbots. At least 80% of sales and marketing leaders are already using or planning to use the technology by 2020.
The promise of AI is relevant content at the right time but powered by data. When marketers obtain information on a customer’s previous purchases, recent service issues, interactions in social media and preferred channels for interaction, a brand becomes more prepared to deliver the customer’s needs.
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