When cutting their way through the variety of offers they are confronted with, today’s consumers are self-determined and demanding. They decide confidently on the channels and marketing messages they respond to and approach companies proactively. In doing so, they are revealing valuable personal data, but they do expect to get something in return: Individual approach, personal offers on the spot as well as high-quality content across all channels.
Junk information burns marketing resources
A representative survey recently conducted by German research institute Forsa gives evidence of the fact that marketers have not drawn clear conclusions from this transformation process yet. About half of the consumers expect personalized marketing messages instead of junk information. In reality, however, the majority of the respondents receive too much (58 percent) and too general content (50 percent). The result is easy to predict: Discontent on the consumer’s part and wasted budget on the part of the enterprises.
Behavioral Marketing – from the target group to the individual
The idea of addressing the individual customer is not new. Nevertheless, its realization is still approached with hesitance. Carefully adjusted marketing communication involves the tracking of customer behavior, the integration of the collected data into a central platform and the automatized dynamic creation and distribution of channel-neutral messages. In short: Behavioral Marketing. To be able to draw an encompassing picture of the customers, it’s obligatory to look at them in the online and offline world alike. In order to do so, one needs to establish as many contact points as possible in both spheres. The aim must be to approach the customer with the right offer at the right time using the right channel.
Trading trust for data
Despite all the promising possibilities of Behavioral Marketing, the consumers’ privacy concerns should not be neglected. Before people reveal personal information, a company has to gain their trust. The skepticism towards the actual compliance of data protection regulations is deeply rooted. Marketers have to define clear-cut goals regarding the use of the collected data on the one hand – and on the other hand point out to customers what they use personal data for: to create added value in communication.
by Sebastian Hoelzl, Director Marketing Strategy Europe
at Silverpop Systems GmbH)