Segment of One -Building Streaming Audience Engagement Analytics for customer lifecycle engagement automation

The future of Audience Engagement – Real Time – Real World “Segment of One”

How is Customer engagement defined in new digital world?

• Customer engagement today has new meaning – it needs to be renamed as Life Cycle Engagement because it’s about engaging the audience, even before they have become a customer – Infact it is about engaging the audience the moment he steps into your customer life cycle journey. This would mean engaging the audience even in anonymous state of suspect or a prospect
• Till Now the audience and their behaviour was tracked from the moment they became a customer – Because till then they are anonymous or unidentified state and were dropping out before becoming a customer.  It was not possible to collect and tag behavioral data at an individual level.
• From a marketing point of view the entire effort – driven through the conversion funnels are Inwardly skewed towards 80- 90% drop outs before they even become a customer
• Using technology to improve performance & delivery is just not enough – its all about increasing experiences – keeping Delivery & performance as constant

More visitors or more customers?

While most businesses, may be facing a host of operational, logistical challenges; there is a key area that everybody is either consciously ignoring or not giving a serious thought to is about conversions.

The facts and trends today seem to be going in the wrong directions.

• Conversion rates of Digitally enabled marketing processes is less than 5 %
• Over 90% of visitors on a website are anonymous
• Focus on social and Mobile is not necessarily yielding conversions
• Customer acquisition costs are mostly on an increasing trend
• Customer loyalty through digital mediums is not even worth mentioning
• ROI’s on digital spends are not necessarily as positive as previous quarters

The above facts may point to a direction that the digital trends are bound to get broken or effect stagnation. Needless to say that most ecommerce and online marketing businesses are facing the profitability challenges.

While most of the digital marketing efforts today are focused at driving visitors to the site or carefully orchestrated inbound marketing efforts, which increases the traffic on the site, but every website today suffers from a congenial paralysis of what to do or how to lead a visitor or customer when they are to their site.

Radical thinking or technologies of engaging visitors – (Yes even though many might be anonymous) is an idea that not many are experimenting or involving themselves with currently.

One way to look at the problem is to flip the problem upside down, which would mean broadening the bottom end of the conversion funnel rather the top end   

Multi Channel Tracking and Measurement for Advertisers

Plumb5 for Advertisers from Weir Endra

Real Time Analytics And Engagement For Real E- Commerce

In the era of global uncertainty and depressed world economy, one sector has seen some impressive growth trends – Its e-commerce!
Global e-commerce sales reached $1.1 trillion in 2012, up 21.9% from $893.33 billion in 2011. While North America continued to claim most of those sales. Forecasts indicate that in 2013, total e-commerce sales worldwide will grow 19.3% year over year to reach $1.3 trillion. China drives most of Asia-Pacific’s e-commerce growth, and is poised to surpass Japan to become the world’s second-largest e-commerce market after the United States this year. India’s E commerce on the other hand, was worth about $14 billion in 2012, and has close to 10 million online shoppers and this number is growing at an estimated 30 percent.

Making Sense of Online Marketing in Real Time

There are about 2.5 bn people online, less than one fifth of them shop online regularly but they account for nearly $1 Trillion of sales a year, that’s up by almost 21.9% compared to last year (2011). According to one estimate 70% of the retail sales are influenced online, and this is also applicable to people who don’t buy online. That’s a phenomenal raise, in spite of the weak economic outlook in many countries. US itself accounted for about $226 Bn of online sales followed by countries like china.

Needless to say consumers today are spending more time online. They are not just buying, but are also comparing prices and researching about products and brands. Marketers are not unaware of these facts, and are going all out to woo the customers. And while digital marketers, are trying to increase their effectiveness and reach with their data driven processes, techniques and tools; But many of them are still struggling and because they are unable to converting leads to sales or reduce the shopping cart abandons (Typical shopping cart abandons range from 65% to 80% –abandonment rate)