The rapid advances we’ve seen in technology have opened up a valuable opportunity for marketers to take advantage of. Data acquisition has become an efficient process for companies to learn about a consumer’s unique preferences within a matter of seconds. By taking advantage of this technology, marketers can get the correct message to their target audience at the right time in order to get them to take the desired action.
This has paved the way for 1:1 marketing, a strategy that personalizes the customer experience. In the old days, extensive ad testing was performed to identify the target demographic and observe their purchasing behavior. You had to manually record your customer’s preferences in order to facilitate future business.
Needless to say, things have changed. Advances in the volume and scale of data acquisition allow marketers to track metrics and behavioral patterns of the typical consumer. Data can show what consumers are buying, when they are buying it and how. All of this information is gathered thanks to the fact that the overwhelming majority of consumers are making purchases online.
Data can take us beyond merely grabbing a customer’s attention and getting a sale. It gives us the ability to keep their attention long enough and build brand loyalty. It’s one thing to hone in on a laser-focused marketing approach that takes a customer’s interest and converts it into a sale. But how about multiple sales? Corporations all over the world are paying millions of dollars to figure out how they can best tailor their approach towards data acquisition.
For instance, have you ever noticed the recommended products displayed on Amazon and eBay? Those businesses are using your information and online tendencies to generate a personalized shopping experience for you. Past purchases, click history and personal information are all aggregated through an algorithm to build a 1-on-1 connection between brand and consumer
Over the next few years, expect major corporations and world-wide brands to employ 1:1 marketing. Data-driven marketing is quickly becoming the most useful tool in the business world, and those who can capitalize on it will find themselves a step ahead of the competition.
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