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

Solving the Unsolved Challenges in E-commerce & Digital Marketing

Solving the unsolved challenges in E- commerce & Digital Marketing from Pavan kumar

The Invisible Customer

The Invisible Customer

The invisible Customer on your website:

The conversion funnel has been the holy grail of many Digital marketers till date, wherein usually about 3- 7% of the total visitors to the site actually convert, leading to the question what happens to the remaining 90+ %?

The reasons for the drop outs attributed are either as bounces, dropouts, casual window shoppers, price checkers or just about anybody else who was never interested in your product. It is in somewhere in this 90+ % visitors that brings to light the concept of “invisible customers”.

Real Time Marketing

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.

Real Time Analytics – A Discoverer’s Opportunity

Most businesses today are Reactive – They react only after the customer has placed an order, after the stock price has fallen, after the customer discovered a bug , After Customer has complained, After customer has dropped out , stopped a payment

Most often, either it’s too late or one has too little options and space to manoeuvre or salvage the situation. This type of “Kick me now” syndrome and is witnessed commonly in most organizations.

How is analytics related to this?

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)