Marketing conditions are changing on a daily, due to technological, socio-economic, or even political factors. Businesses are still adjusting to digital transformations in the ‘new’ world. But as complexities mount, how can marketers define real success? How can they gain customer loyalty? How can they drive marketing ROI?
In addition to collecting data and activating data, the need of the hour is to attribute consumer actions – to realistically measure ROI, and be able to maximise it.
Discussing this in a seminal webinar, Manish Gambhir from Meiro & Ajit Pawar from Adjust spoke with Shantanu Dasgupta. They presented essential concepts for their audience to learn more about how they could ensure their digital transformations showed results.
How to convert potential customers into brand loyalists
Manish, our Business Solutions Manager at Meiro, started the webinar with a topic that would be essential for marketers – to know which customers are loyal to a brand. And if not – how can a marketer use data more effectively to turn them loyal.
After a brief introduction to Meiro CDP, Manish dove right in with the fact that each business has multiple customer touchpoints. All are potential data sources – from websites, surveys, loyalty programs, physical stores, emails, etc. All sources from which data must be collated and activated to reach the ‘next normal customer’ – who works from home, consume more media and interacts with brands more holistically online in addition to other changes. To reach this customer, the primacy of Customer Experience (CX) in the digital transformation is key.
Manish established the steps to build a better CX through a stronger customer-centric foundation and with the right technologies for measurement in addition to listing the prerequisites to CX execution.
After a brief look at deterministic & probabilistic approaches to Identity Resolution, Manish then delved into use-cases made possible by being able to create segments and micro-segments of audiences:
- Building a Single View of the customer
- Discovering High-Value Customers
- Ad Performance Optimization
- Custom Product Recommendation
- Global exclusions of irrelevant audiences
He then touched upon how segmentation led into activation unified across all touchpoints and closed the loop with Attribution by learning which dollars really worked against which audiences, and using that system of attribution to invest further into the successful segments and ads.
Next, Manish spoke about how CX builds customer loyalty – how knowing more about a customer can lead to knowing what triggers them to become loyal to a brand and ignore competitor brands even with the massive explosion of choice.
To illustrate his presentation, Manish then gave a comprehensive example of using his own shopping experience. Watch the video below for a more detailed understanding of his journey!
Mobile Measurement – Making your data work to drive marketing ROI
Next, Ajit Pawar – Head of Partnerships at Adjust to give his insights on how mobile data could work to deliver more value for brands. Starting with a look at the sheer scale of the mobile market – the number of hours spent on mobile, the number of apps, and the ever-increasing revenue generated by them. He then took a look at how these apps made their money through various approaches from freemium to premium, to subscription models.
He then discussed tricks to optimise these approaches across the board by analysing the user base, investing in acquiring valuable users, and also reinvesting in profitable channels. But first, how can brands measure their user behaviour across their apps. A mobile user lifecycle showed how complex the journey was and showed the importance of marketing activities within these stages with meaningful interactions.
According to Ajit, the key to this was measuring – not just installs but pre-install apps, clicks, and more. Data obtained through this measurement could lead to sharper insights about customer behaviour events – what customers do within the app, what triggers spending, or even why they uninstall. From among these numerous events, it would then be imperative to measure the value of interactions that had the most value – and next, look at custom events, key conversion points, and of course, assign value to each of these.
Ajit then explained that marketers shouldn’t just focus on new users but look at a healthier app ecosystem of retargeting previous users. Data collected from users would then be useful to personalise and ‘laser-focus’ your communications. Thereby increasing user engagement through audience segmentation, A/B testing, as well as leveraging deep links to create a better mobile experience.
The Panel Discussion
After the compelling presentations, the audience was invited to ask their questions to our speakers. Want to hear the answers about compatibility to external analytics, and the scale of mobile usage? Watch the video below!
Though if you want to know more, get in touch. We’d be happy to talk to you over a cup of coffee!