Mr. Adam Szucs – Emarsys
The future is an interesting place.
Customer data is constantly sent to machines which try to understand a customer through the data they provide. Machines take all an customer’s online data and unify it and thus coming up with predictions, audiences and segments. It creates a lifecycle status for the customer, which allows them to rank them into different brackets. It then creates suggestions of what they love and push it to them and promotes it. After the machines figure out what these customers want, it poses an important questing; should you spend marketing dollars on that customer? If the answer is yes it goes through a complicated process of trying to figure out how much revenue can be generated.
Machines are taking over
Human element dying out and machine is taking over. If you are ready you can learn to adapt and work with these machines. The concept of ‘Offline’ and ‘Online’ will disappear and a merged concept of Offline-online combination will emerge making purchase highly personalized. This will allow brands to give it to you before you think you want it and this saves time and energy by giving recommendations. These recommendations can then turn into vouchers and special promotions which the brand will know the customer will enjoy.
However, there will be a lot of returned goods. The more people buy online, the more they will be returning.
The rise of social commerce
Social media is going to be monetized and will develop into a platform to sell products. 1/3 (31%) of online shoppers claim to be using these channels to browse for items to buy. These social media platforms will not be slowing down anytime soon seeing as Google Advertisements make around $18 Billion last year.
Know who not to target
It is important to know who you should not target to save money. Brands need to understand that they should not be spending money to advertise to customers that they have already acquired. Most companies know this fact, however are not using this idea. If they combine all their technology and their channels they will be able to utilize this concept and save large amounts of money spent on advertising.