In Part 1 of this series, we discussed how organizational objectives may change the implementation of a media mix and optimization platform. And in Part 2, we talked about measuring the efficacy of your efforts. Now, let’s talk about collecting and normalizing consumer responses and order/sales data.
High conversion rates are the Holy Grail when it comes to measuring the success of digital marketing. The more visitors you convert into customers, the more profitable your business.
Today’s customers expect tailored, customized marketing messages. They expect you to know who they are and what they need, all without your company seeming “creepy” by knowing too much about them. Companies are turning to real-time interaction management to meet these demands and increase their conversions and sales as a result.
My local gym is always running some kind of crazy discount for enrollment. And I can always look at this month’s (or week’s) promotion and blow it off, knowing another deal is coming. It’s hard to know, from a price-conscious standpoint, the best time to make a long-term commitment because they’re constantly repackaging the same discount, or even out-bidding themselves for my business. In a similar instance, I bought concert tickets with a loyalty-based “early bird” discount, only to find out that a deeper discount was advertised to the general public just a month later. Really? Are we expecting consumers not to notice or react to our marketing misgivings? And are we brands really expected to keep up?