There are two ways to become the top business in your market:
Beat your top competitor, which can be a daunting task.
Or, create a new subcategory where your brand is the only player in the field.
Are you wasting time competing with similar brands without seeing fruitful results? Changing customer beliefs and habits is a difficult task; however, de-positioning your competitors and growing fast is a possibility. Creating a subcategory and adopting new, targeted marketing trends such as conversational people-based marketing might be the way to move ahead.
What is people-based marketing?
People-based marketing is a subset of behavioral marketing where marketers leverage data from real consumers to develop cohesive marketing strategies. It is compelling, targeted, and optimized for high conversion.
Brand owners use this kind of marketing to engage with real people across marketing channels and convert them to loyal customers.
What is conversational marketing?
Different from accumulative marketing that targets large numbers hoping to make a purchase; conversational marketing is targeting real people on a more personal level. For example, using a chatbot on a company’s website to engage directly and privately with an existing or potential customer.
Some conversational marketing practices :
1) Customer support
Most top brands enforce this as part of their marketing strategy. They offer live cross-channel customer support with the help of chatbots and social media community management. Customers asking questions regarding a particular product or services will get fast, personalised feedback, which creates a unique dynamic of trust between the brand and the customer.
2) Email series
When someone signs up for a product or service on your site, use that vital piece of customer information wisely. Aim to develop a valuable relationship by automating a series of helpful emails that enable a conversation between your brand and the customer. This approach ensures returning customers.
Importance of people-based and conversational marketing
Here are the reasons why your business needs to embrace modern-marketing approaches to stay ahead of the competition.
Target people, not devices
As technology evolves, 85% of mobile users spend time on Apps. Apps are helpful in communication, information sharing, and organizing life. As a digital marketer wanting to see a high conversion rate from your marketing campaigns, it is not useful to rely on cookies.
Cookies miss 12% of conversions because 35% of targeting is inaccurate, and its measurement is over-estimated by up to 60%. This type of data makes marketing ineffective. Use the right data from real people and see conversions skyrocket.
Use Insights to grow
Creating a new digital marketing strategy can be a daunting task because of the many factors that need to be considered. Using real-time insights from real people allows you to optimize your marketing strategy for better conversions.
Here are a couple of insights you can use to grow:
Where do most of your customers come from? Take into account your source of traffic or loyalty data. Online you can perform conversion optimization on the channel. If you are getting the most traffic from Instagram or LinkedIn, invest more money into those channels.
Before customers purchase a product or services from you, they have a journey through a conversion funnel. The initial step is making them aware of your products or services, then stirring their interest using conversational marketing, thus creating a desire for your product, leading them to sign-up, download, purchase, action etc.
Using marketing tools at your disposal, you can gather insights into what this customer experience is like for every targeted demographic. This information can be used to tweak steps along the funnel to attract, capture, and retain the intended audiences.
If you’re running targeted e-commerce campaigns to generate sales. One mistake that most marketers make is not asking for feedback. How do you know if the product you’re producing for your customers is beneficial to them? Send a follow-up email after a few days thanking them for purchasing your product/service and inviting them to share their opinions regarding the sale process and the product itself and mine that data against the customer profile data you may have on them.
Saves marketing investment resources
Unlike other forms of marketing, people-based marketing and conversational marketing use information tied to identity to develop strategic marketing campaigns. This saves time from the traditional method of relying on third-party data harvesting of useful consumer information.
Imagine a potential customer lands on your site from Facebook and spends quality time on your blog. Before he/she presses the back button, since you’ve embraced holistic marketing, they are met with a pop up asking them to download a FREE ebook How to Master <insert business-related subject> in One Hour. They are also invited to put in their name and email, valuable information for moving them down the funnel and converting them to a regular customer.
Develops customer trust and loyalty
Conversational marketing is a feedback-oriented type of marketing aimed at strengthening trust, loyalty, and a brand’s customer base. When a customer is engaged and value-added to his activities, converting the prospect to a regular buyer is like fishing in a barrel.
The person who signs up to get a marketing ebook, you know their interest is in the subject matter. Since you use automated marketing, present them with a series of emails about the said subject and techniques.
Afterward, ask them to join your premium membership site. Since trust and loyalty has already developed from the conversational emails, there is a higher chance they will join the premium membership site.
In the previously-established, the person is more likely to convert because their interest is the subject. Sending the same information to someone else who might not be interested in said subject is a waste of marketing resources.
The modern marketing landscape is full of disruptions, such as competitors and new, innovative marketing techniques. However, one method that consistently produces results is people-based and conversational marketing. Embrace its strategies and maximize your brand’s growth.
It might be a daunting task to develop a targeted digital marketing strategy for your brand. A competent and experienced Digital Marketing agency can help optimize your digital marketing techniques for your brand’s specific needs.