The digital landscape has never been as competitive as it is today, with businesses not only competing on a local scale, but on a global one as well. This has made it imperative for organizations to find unique ways to stand out from the crowd and make a mark for themselves. Dynamic marketing provides this opportunity.
Dynamic marketing takes traditional targeted marketing to the next level by giving you the ability to reach the right audience, at the most opportune time, with the right quality content.
For example, one common problem plaguing many customers today is receiving countless numbers of irrelevant emails from businesses they’ve only dealt with one time. This leads to mass unsubscribes and growing domain blacklists that ruin perfectly good re-marketing campaigns. Dynamic marketing, however, helps to ensure your marketing emails don’t end up unread or deleted.
Dynamic marketing takes on a personalized approach when it comes to audience engagement, which, as research suggests, is always more effective. For example, 91% of customers say they’re more likely to buy from a brand that offers and recommends products relevant to them rather than a collection of random items. Due to the several benefits it offers, dynamic marketing is becoming the new standard for modern organizations.
How Does Dynamic Marketing Work?
To launch a successful dynamic marketing campaign, your business needs to establish five foundational components:
- An automated lead lifecycle management platform
- A central database for managing and integrating multiple sales and marketing data sources
- A regularly updated and secure omni-channel platform
- A personalized customer engagement platform for personalized communications
- A process for measuring and monitoring key performance metrics of marketing campaigns and their associated return on investment (ROI)
All of these components give your business the tools it needs to successfully build and execute a dynamic marketing campaign. As campaigns are initiated, each component plays an important part in building a large database of collected user data that provides valuable business insights and helps the organization calibrate their digital marketing efforts.
Dynamic marketing employs the use of artificial intelligence (AI) to build a continuous flow of activity for your business. It allows you to track what your consumers are viewing and what they’re purchasing. Based on this activity, it recommends similar products to customers that they may be interested in, helping to shorten the sales cycle.
However, dynamic marketing isn’t just limited to product recommendations. It also can be implemented at various stages of the sales cycle. For example, your business can employ on-page pop-ups, and website search functionality designed to recognize search activity and provide better guidance to customers on-site. Also, at the conversion stage, using forms and chat-bots, display banners, and native-content promotions, which promote products in an article or blog post, can be a nice well to help customers engage more with your brand pre- or post-purchase.
Benefits of Dynamic Marketing
Due to its personalized approach, dynamic marketing can lead to several long-term benefits for your business and overall brand image. With a targeted marketing approach, emails are more likely to be read. This gives you the opportunity to share important brand messages, including new product offerings, public service announcements, and important changes to business operations.
Additionally, any time you do invest in digital advertisements, they will be valued more by the user since they are much more likely to be relevant to their interests. Apart from this, recommendations and purchasing guidance based on a buyer’s history will encourage them to spend more time on your site, increasing the likelihood of conversion.
Best Practices for Dynamic Marketing
When implemented correctly, dynamic marketing strategies can boost the visibility and interaction of your business, while increasing revenue. By determining what your customers are viewing, buying, ignoring, or clicking on, you gain valuable user insights into personalizing a marketing approach that caters to a customer’s particular interests and needs. Below are a list of some best practices to follow when implementing a dynamic marketing campaign:
Conduct Market Research
Before you start implementing any form of sales, marketing or content strategies, you need to know your target audience inside and out. Market research is a crucial step for the successful implementation of dynamic marketing strategies.
Knowing who your potential customers are, what they’re currently purchasing, why they’re purchasing these products or services, and who they’re buying from right now, will give you valuable insight into what they expect from a brand. The answers to these questions form your marketing campaign’s foundation. This information can then be used to create impactful marketing strategies that specifically target your customers’ wants and needs.
Focus on Qualified Leads
You need to determine the characteristics of your current customers while analyzing these traits long-term. Progressive profiling allows you to determine the traits of your customers, their average acquisition costs, and their likelihood of repeating business. You’ll then be able to better define your target market. This information can help you create a sales strategy that appeals explicitly to these customers, allowing you to maximize the efficiency of your resource utilization.
Simplify the buying process
Cart abandonment is a major issue that many businesses face, but very few spend the time to address. In fact, 26% of shoppers say that they abandon their carts simply because the checkout process is too complicated. This can lead to a significant loss of sales and damages customer relationships. By simplifying the buying process and making it easier for customers to go through each transaction, you can successfully increase the number of conversions and repeat orders you receive.
Any decision that has the potential to interrupt the buying process is a potential for distraction. Hence, it’s important to remove anything that can divert your potential customer’s attention from completing a sale.
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Dynamic marketing strategies are here to stay. They provide your business with customer targeting opportunities you never knew were there, and can significantly improve sales and profitability. Additionally, with the impact it has on brand awareness and overall business reputations, it’s no secret why dynamic marketing has become a relevant and sustainable way to maintain a competitive advantage.
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