Conversion Funnel Optimization 101 for Financial Services Companies [Part 2]

How Financial Services Companies can master Post-Purchase Customer Engagement with Marketing Automation Conversion Funnel Optimization 101 is an all-inclusive Marketing Automation Guide for Financial Services Companies. In this post, we’ll discuss how they can engage with their customers post-purchase by using Marketing Automation. In our previous post, we revealed the hacks for reducing pre-purchase drop-offs with marketing automation. Now let’s discuss how Financial Services Companies (FSCs) such as Banks, Micro-Lending Firms, Insurance Companies, etc. can engage and retain their customers post-purchase. And that too with our favorite marketing automation. WHY marketing automation for post-purchase communication, you ask? Here’s why.   […]

Conversion Funnel Optimization 101 for Financial Services Companies [Part 1]

How Financial Services Companies Can Reduce Pre-Purchase Drop-Offs with Marketing Automation Conversion Funnel Optimization 101 is an all-inclusive Marketing Automation Guide for Financial Services Companies. In this post, we’ll discuss how Financial Businesses can optimize their Purchase Cycle with Marketing Automation.  Financial Services Companies like Banks, Micro-Lending Firms, Insurance Companies, etc. possess gold mines of customer data. They gather prolific amount of micro-data like personal identifiable information (PII), demography, employment, financial background, etc. at every stage of their sales funnel. However, their inability to utilize such data to their advantage often results in hampered customer experience and high drop-off rate throughout […]

3 Unique Push Notification Use-cases to Automate Customer Feedback

So far email had been the most sought-after medium among businesses to seek feedback, particularly NPS survey. It would nevertheless continue to be a potential choice. Following email popularity is in-app messages which are part of the UI of almost every mobile app. Publishers insert in-app messages within the user flow to run notifications and surveys of various kinds. The most popular use-case being triggering an in-app message before the nudge to rate the app on play store. Now did you know that you could use push notification as well for collecting feedback? Strangely, not many mobile marketers have explored […]

Guilty of causing ‘Marketing Fatigue’? Fix it before it sabotages your business. Here’s how

When your marketing crosses a certain threshold it no more remains marketing. It becomes a headache to your customers. That’s marketing fatigue in a nutshell. The above snippet from the article by one Jessica Miller-Merrell in her blog summarises the communication fatigue that every wifi-connected soul is a victim of. The volume of marketing communication has anyway surpassed our attention zone whose size anyway would make us envious of goldfish. Marketing fatigue explained by Marginal Utility law The Law of diminishing marginal utility tells us that anything surplus, regardless of its utility loses its value. Do you recall water/diamond paradox? […]

How To Set Up Your Next Back-In-Stock Alert In Just 5 Minutes

In the ecommerce sector, Stock-out or Out-Of-Stock is defined as the shortest horror story for both a customer and a marketer. For a customer because his/her desired item is unavailable. For a marketer because he can lose that customer to his competitors. However, it’s 2017 and we have a plethora of Back-in-Stock Notification tools and widgets readily available. And most of them operate on the similar lines: These are some of the Back-in-Stock Alert tools in the market: And the list continues. By and large, all these tools and widgets promise you ‘a happy and loyal customer who will make […]

How To Use RFM Segmentation for Customer Lifecycle Marketing

One of the founding tenets of modern marketing is a widely used concept of Segmentation, Targeting and Positioning. STP has stood the test of time to stay relevant in these ever evolving, dynamic times. At an elementary level segmentation is at the core of all successful marketing campaigns. Using segmentation you divide your audience into homogenous groups in order to send them relevant communication that resonates with them. One such data backed segmentation technique is RFM segmentation, through RFM analysis you can segment your customers into buckets like best customers, loyal customers, big spenders, lost customers etc. much needed for […]

How B2C Marketing Cloud Helps Businesses Improve Retention

In the mad rush to acquire customers, online consumer businesses spend frivolously on customer acquisition. Although, once the new customers get acquired the next big challenge is user retention. It is because businesses simply do not have coffers with perennially available cash to burn on acquisition or reacquire churned customers. Moreover, research done by Adobe attributes 41% of revenue to just 8% of customers, no marks for guessing, the 8% are repeat buyers. Fundamentally, this means that focusing on retaining existing customers is rewarding. Let’s get basics right – Retention Rate = # of customers in cohort that your business […]

26 Tips To Avoid Spam Filters When Doing Email Marketing

If you are in the business of email marketing, you are under the constant pressure of having to think about spam traps, spam trigger words, and anti-spam laws. Crafting targeted emails so as to avoid being sent to spam, or being marked as spam by your subscribers has become an art in itself. Why? Because Internet Service Providers (ISPs) are waging a brutal, yet justified war against spammers. Unfortunately, the victims are not always just the spammers. Collateral damage happens to include some of us, the good-willed email marketers who simply don’t have the luck or enough experience. According to […]

How To Use Small Data For Personalized Communication In Hotel Industry

Customer Journey Mapping for the Hospitality Industry (Part II) When I got my hands on Martin Lindstrom’s Small Data: The Tiny Clues that Uncover Huge, it was unputdownable. In the world where big data is religiously worshiped and employed by every Marketer, his book was a breath of fresh air. What piqued my interest was how small data was being used to not only save companies like Lego from bankruptcy but also to trigger the creation of some of the biggest innovations like Post-It and Snapchat. However, despite its obvious primacy, Lindstrom stated, “The issue here is that as we become […]

6 Data Backed Reasons Why Every Business Should Use Triggered Emails

The value of using automated emails—those triggered by customer actions, such as a purchase or download—goes deeper than just saving the marketer the trouble of sending individual emails manually. Consider just a few of the many ways an automated email could escort a customer to the next step in their engagement: Updating a customer about the price or availability of a product in their wish list Reducing cart abandonment with reminders and/or discounts Reminding customers about the upcoming subscription renewals for products and services Alerting customers about travel changes Onboarding new customers with multi-step triggers For those who still doubt […]

B2B vs B2C Marketing Automation Platform. What’s the Primary Difference?

Marketing Automation doesn’t have a unique or scientific definition that you can fall back on to qualify a certain marketing tool as a marketing automation solution. Most definitions over the internet that you may find would be either vague or molded to suit the interest of the company publishing it. For instance, without naming anybody, resource posts by ESPs would make you believe that marketing automation is all about creating automated email workflows which is a total misleading definition. Eventually, amid the clutter of definitions, I hit the one by Scott Brinker and found peace. Scott Brinker, Editor, ChiefMartec “I […]

The right time to send NPS survey and how to automate it

“We take most of the money that we could have spent on paid advertising and instead put it back into the customer experience. Then we let the customers be our marketing. Historically, our number-one growth driver has been from repeat customers and word-of-mouth.” – Tony Hsieh, CEO Zappos (source) Like Hsieh, any CEO will concur with the convenience of building up business through referrals over scouting for customers through advertising, cold calls, marketing. Referrals from existing customers easily bring new customers leading to organic growth, sustainable in the long run. You must have heard of Word of Mouth, Referrals, Customer Lifetime […]

How to Improve Customer Retention in Hotel Industry with Marketing Automation

Customer Journey Mapping for the Hospitality Industry (Part I) The hospitality industry, with a global industry revenue of US $550 billion in 2016, is engaging with customers like never before. With weapons like multi-channel Marketing Automation at their disposal, hotels are turning no stones unturned in making the stay of their guests a unique experience. After all, keeping them engaged and interested is a crucial part of their customer retention strategies. Before you start bestowing ‘the most amazing experience’ on your hotel guests, it is highly imperative to understand the Hotel Guest Lifecycle. Robert King explained the basic model of […]

How e-commerce firms can automate customer lifecycle marketing with these 13 trigger events

On the face of millions of user triggered events on the website and app per hour, the only way to invariably provide value to every user is to automate your customer lifecycle marketing, which explains the flourishing marketing automation industry that it is today (we are one of them). The good thing is that marketing automation is no more the playground of large enterprises. With the onslaught of new companies which have transgressed into what was earlier the territory of Adobe and Oracle, marketing automation has become more affordable and easier to execute. In fact, the marketing bombardment has so […]

[Tips inside] A Beginner’s Guide to Setting up a Browser Push Notification Campaign

Browser push notifications (also called Web Push) were first introduced by Chrome in early 2015 in its 42 version. The version included “two new APIs that together allow sites to push native notifications to their users even after the page is closed—provided the user has granted explicit permission.” In fact, the biggest exploiter of this channel is perhaps Facebook which, via this medium, has acquired the power to send you notifications, even if you don’t have the Facebook app installed. In fact, very interestingly there was quite a chaos among a significant number of facebook users, evident in this thread, […]

Users Despise Push Notification. Make Them “Behaviorally Targeted” to Achieve the Desired ROI

It is gating our engagement with the internet. For instance, just recall how until 2-3 years ago you used to scour all your content from just one source- Google. You determined what you need and then you pulled it out from Google- which is essentially just one app. But now, as the world is transitioning from desktop to mobile- which is swamped with gazillion apps, the data are determining what content may interest you and it is then pushed to you via mobile notification. The paradigm has changed from ‘pull’ to ‘push’, or perhaps changing rapidly.   Both iOS and […]

[Humor] 8 Worst Push Notifications that Justify App Uninstall

It was the easiest post ever. That’s a sadistic statement perhaps. It shouldn’t be easy to find ‘worst’ push notifications. But unfortunately, our mobile devices are swamped with them. One look at the phone and you have countless notifications, in-waiting desperately begging your attention, more than often in the most ludicrous manner possible. Push notification as a channel has been so royally screwed by mobile marketers like there is no tomorrow. Why? It makes your messaging unavoidable. It doesn’t sink in the inbox like email or vanishes in the social media chaos, it’s on the face. A user has to […]

Why your push notification sucks? A cognitive look into how to identify the right triggers for a push message

Push notification gave promising engagement to apps at its peak. But, driven by their nature to over-exploit anything that works for them, marketers have gradually reduced mobile push messaging to a trifle blast marketing medium. However, the omnipresence of mobile, and the increasing impetus by iOS and Android to make push notifications more feature-istic suggests that it is here for a long haul. To this day push offers higher engagement than email and CTR is as high as 40%, nearly 4x than that of the worst. But what is pushing push messaging down? 1. Anything tends to lose its significance […]

10 Ultimate Use-cases of In-app Messages for E-commerce Apps

In-app messaging has gradually become the favorite of marketers because Unlike push, an in-app message isn’t time-sensitive. So you won’t have to critically evaluate the right time to send an in-app message, as users see it whenever they are active on the app. There is no text limitation in it and you can also incorporate images, videos, forms or their combination.  There is a zero risk to sink in the spam folder or even promotions tab like email.  In-app message, unlike email and push, doesn’t require the user to opt-in. And most importantly, in the case of in-app message you don’t […]

10 Deadly Sins of Mobile Marketing Automation

Implementing marketing automation—the practice of using software, templates, and behavioral triggers to create systematic marketing campaigns and responses—is strongly correlated with business growth. Just look at these statistics: Gleanster’s Marketing Automation Benchmark found that 79% of top-performing companies had been using marketing automation for more than two years. A Lenskold and Pedowitz Group study found that 63% of companies that are outgrowing their competitors use marketing automation. That same Lenskold and Pedowitz study found that 78% of successful marketers report that marketing automation had been the biggest factor in improving revenue. With Digital Trends reporting that Americans spend an average […]

Designing unsubscribe page? 7 foul tricks to avoid, though allowed by CAN-SPAM act

I come across some 3-5 emails every day in my inbox which I open only to scout for ‘unsubscribe’ link or mark as spam. But true to their reputation, they show up again the next day and I painfully repeat the same process. Marketers at large don’t give priority to creating an easy unsubscribe flow for their subscribers and the reason is fairly understandable- nobody bets money on a lame horse. A person unsubscribing you is adding negative value to your business, as there is a significant cost involved in acquiring a subscriber. Moreover, you would be least concerned about […]

How to Use Micro Segmentation Marketing Effectively in Marketing Automation

If you’ve collected information about your customers, now is the time to put that extra effort to good use—with micro-segmentation marketing. What is micro-segmentation marketing? The practice includes dividing customers into four general groups—by demographics, geography, behavior and lifestyle—then segmenting each group even more. Geography, for example, could be broken down into regions, then states, then cities, then neighborhoods. Behavior could mean frequent purchases, seasonal-only purchases, coupon-only purchases or “window shoppers.” Lifestyle could be an adventurer, fashionista, world traveler and tech savvy. Micro-segmention marketing strategy combines multiple variables from the above categories with certain demographics, such as age, sex, life […]

How Email Marketing Automation Can Increase Customer Lifetime Value

Email is the marketing goldmine of the internet. Unlike many of today’s tools and methods of communication, email has withstood the test of time and continues to perform as admirably as when it represented the cutting edge of network technology. Most importantly for businesses, email marketing continues to deliver unrivaled ROI. The average ROI on email marketing is $40 per dollar spent! No other channel comes close. But moving past net ROI, let’s talk about the REAL reason email marketing automation is your key to online profits. The reason your email list will always outperform your social followings, advertising, and […]

6 Easy Tips to Increase Your Mobile App Conversion Rate (Also Learn How to Implement Them)

Ignoring mobile as a platform dooms a company to huge losses. Soon, mobile will overtake other devices for all purposes – research, information gathering, news, and, of course, e-commerce. Within the realm of e-commerce specifically, all types of conversions will be important, from securing contact information to purchases. Here are some statistics that bear out the rising significance of mobile: A ComScore study revealed the following data: Smartphone use increased by 394% between 2010-2014 Tablet use increased by 1,721% during those same years 60% of digital time spent was on mobile devices 21% of millennials didn’t use desktops at all, […]

Top 5 Use-Cases to Engage Sellers on E-Commerce Seller Portals

In 2009, e-commerce in India was worth $3.8 billion, in 2014 the figure jumped to $17 billion and in 2016, it is expected to touch new highs of $38 billion, 66% increase from 2015, 10X since 2009, as predicted by ASSOCHAM. The growth in internet penetration, mobile usage, customer acceptance towards online buying has defined the course for e-commerce. Banking on this conducive environment e-commerce marketplaces have become extremely successful. E-commerce Marketplaces are websites that connect sellers and buyers; they offer enabling services such as warehousing, logistics and payments. Essentially these are platforms where sellers get to showcase products for buyers […]

7 Valentine’s Day Gifting Trends That Every Marketer Should Know

Valentine’s day is gradually becoming more favorite to Amazon, Walmart, Archies than the folks who actually celebrate it. And why not, the total spending on Valentine’s day in the United States alone is estimated to surpass $19 billion. Yes, that’s more than the annual GDP of Mongolia which happens to be the 19th largest nation in the world in terms of size. Kudos America! Due to this spending spree, several of our e-commerce clients conducted surveys to understand the consumer behavior during Valentine’s season. The response was recorded over the period of Valentine’s week and hundreds of folks participated in […]

6 Easily Overlooked Ways to Make Your Popups Loved by Your Visitors

Marketing overlays, website intercepts, web lightbox etc. more traditionally known as popups have been subjected to the superlative of hate by a large number of marketers and users alike. In fact, back in 2004, it was one of the most hated marketing techniques on the web. However, regardless of overlays blamed by multiple online communities for allegedly jeopardising user experience, there is something that nobody can claim to dispute- ‘overlays work’. Exit intent overlay is one of the widely used adaptation of an overlay. It is a form of an overlay which is flashed to the user right when it […]

Features vs. Benefits: In SaaS Industry Benefits win hands down

When I was in B-School, we were explicitly taught about the importance of communicating benefits over features. One professor said, “Benefits sell, Features tell.” Another advocated, “Customers buy benefits not features.” Then while doing a project on brand communication strategy, I created my own – “In the minds of customers Benefits stick, Features recede.” While marketing professors professed, we followed their lead. Didn’t delve deeper into the why’s and how’s of the features vs. benefits contest. Here, I take this opportunity to dig deeper into why communicating benefits is important than just enumerating product features. Distinguishing Benefits and Features: A […]

Net Promoter Score: Learn what Promoters and Detractors hide from you

People influence people. Nothing influences people more than a recommendation from a trusted friend. A trusted referral influences people more than the best broadcast message. A trusted referral is the Holy Grail of advertising. –Mark Zuckerberg Remember the last time you checked out a new online shopping site and actually purchased something from it? Out of many reasons that persuaded you to buy one would certainly stand out, and that would be – a recommendation from a friend/colleague/family member. That is the power of referrals. They are the strongest of the lot among advertising, cold calls, PPC ads and zillion […]

5 Simple Website Survey Questions Every Online Store Must Ask

A massive jump in your conversion rate will come from solutions to problems that are unique to your online store. Special fixes to increase your sales could be improving a poor quality product, decreasing the product price because your visitors are comparison shoppers, refining the checkout process, or having high-resolution product photography because an important feature was previously unseen. How do you find these revenue-impacting growth opportunities? You ask the right question at the right time! “Successful people ask better questions,” said performance coach Tony Robbins, “and as a result, they get better answers.” You discover what matters to people […]