How is AEP transforming CX in FinTech Industry?
Fintech is becoming the most demanding and fastest growing sector. It has a complex ecosystem with data security and privacy as the top priority. Customer data privacy regulations such as GDPR, CCPA, and PIPEDA are important, but they should have strict regulations across internal systems and processes as well. These demands cause major changes and disruptions in the BFSI ecosystem. Maintaining strong security and privacy measures along with providing a unified, real-time, and consistent customer experience is always a major challenge for the financial institutions.
These considerations, understanding the industry trends, and how to combat these challenges are always essential. In this blog, we will explore how AEP can help Fintech Industry can combat the major challenges and focus on the importance of data and personalization.
WE WILL START WITH THE TRENDS BRINGING DISTRUPTIONS IN THE INDUSTRY.
Financial Trends:
- Accelerated Digital Growth
- Multi-channel Mayhem
- Technology Updates
- Unified & Real-time experiences
- Emerging Competitors
Accelerated Digital Growth
The recent pandemic has significantly increased digital adoption and changes in customer behaviors. Customer requirements are now dynamic. They need their requirements fulfilled at the right place and time.
Multi-Channel Mayhem
Customers can interact with you through several challenges such as mobile apps, social media, chatbots, and others. It can create chaos in serving consistent and personalized customer experiences. Financial institutions have to ensure that they are providing their customers the same level of services, personalized recommendations, and information irrespective of what channel they prefer to connect.
Technology Updates
New technologies are introducing in the industry. Cloud-based and open technologies are a few examples that can be challenging for financial institutions to adopt. In addition to maintaining technologies standard, they must deal with the increased regulated requirements, higher cost of change, and processes.
Unified & Real-Time experiences
Customers want a unified experience, or a one-stop shop for all their needs. However, it remains a challenge for majority of the financial institutions to serve them exactly what they want whenever they want.
Emerging Competitors
Financial services are more competitive than ever before. Consumers have multiple options to choose from that becomes a challenge for companies to close the conversion at faster rate. To win the race, you should know your customers better and build a strategy to satisfy them with the best offer.
How to Combat These Challenges?
Financial institutions must make sure that they are considering these challenges to design a solution that boost their conversion rate and customer satisfaction rate. To combat these challenges, marketers should focus on these four pillars:
1.RELENTLESS CUSTOMER FOCUS
Customer focus becomes increasingly important for businesses in highly competitive ecosystem where customers have high number of options that ever before. Consumer data is lifeline of marketing and should be the prime focus of any marketer. Breaking down the data silos and positioning the customer data at the center is required to enhance digital experiences.
2.OMNICHANNEL EXECUTION
Proper execution of plans across channels is also critical. Knowing that data plays an important role in the future, designing datasets across channels (such as mobile, websites, apps, etc.) shield financial institutions from future enhancements.
3. IMPROVE TRUST MULTI-FOLD
Gaining customer trust is one of the important aspects to increase the conversion rate. Data breaches and privacy concerns lead to customer churn. So, data privacy and security cannot be ignored. It is important to hold customers‘ trust right from the first interaction to get information and empower marketers with data.
4.EMBRACE AI/ML WORKFLOW
Automation powered by AI/ML and cloud–based offerings integrated with your technological stacks will enhance your accuracy and efficiency. It can help you automate tedious and time-consuming tasks, enhance fraud detection, improve risk assessment, and provide personalized financial services to customers.
NextRow’s Solutions for Fintech powered by AEP
The major roadblocks for marketers that hinders customers journey in the current FinTech ecosystem are:
- No data driven next best offer
- High probability of abandonment (Manual multi-step form)
- Offline deflection hampers customer acquisition
To remove the impact of these roadblocks and enhance the customer experience, we have built an extensive financial services solution powered by AEP including integrations across AEC products such as – AEP RT-CDP, AEM, Adobe Analytics, Adobe Target, Tag Manager, Amazon Cloud Storage (First Party Data source), and MX Platform API (Second Party Data Source).
HOW MX PLATFORM API BRINGS VALUE TO THE PLATFORM
MX Platform API is an aggregation and ingests platform that provides consumer data through open APIs while maintaining a high degree of privacy and compliance in a consent–driven fashion. You can get a holistic view of customer data in a fragmented landscape thus improving customer personalization. AI-driven insights will support faster processing of meta-data into usable components addition to this, you can easily integrate your existing customer, internal credit core system, and any third-party data to get enhanced data.
ROLE OF AEP
Being a core component, it will take your customer experience management to a new level. It collects data in scalable and user-friendly fashion and stores it in the data lake. It commits data from multiple sources such as CRM, web behaviors, and second party data to build real-time customers profiles that can be easily shared across various platforms such as DSPs, email service providers, and personalization engines. The integrated AI/ML helps marketers to clean, addition insights, and enrich customer profiles.
THE RESULTS
As FinTech is a growing sector, marketers need to keep focusing on improving customer experiences and personalization. With our especially designed solution for Fintech, you can increase customer engagement, improve conversion rates, lower drop-off rates, and increase customer trust while maintaining a higher degree of privacy and compliance.
Want to know more about FinTech Solution powered by AEP? Set up a one-to-one meeting with our consultant.
To know more about our solution and AEP architecture, browse our webinar.
How to Get the Most Out of Marketing Automation?
Marketing Automation is not magic. But mastering the automation process to send the right message at the right time to the right customer is what distinguishes the pros from the rookies.
Most marketers agree, they feel guilty for not using the Marketing Automation platform to the fullest.
Below you will find five planning tips, which will help you get the most out of your Marketing Automation Platform.
- Personalize customer’s journey
Automating your marketing efforts does not mean continuously pumping out scheduled emails. Automating your marketing is more about personalizing your content and catering to each individual customer needs. Automating your marketing opens up time for you to look at bigger things and it allows you to be present throughout the customer journey instead of just nudging them towards conversions.When you start sending targeted, and personalized messages to your customers at specific junctures in their purchase journey (from the time they have first logged in to the follow up process, even after, they have stopped purchasing from your website).
This would help in acquiring, activating, retaining and winning back former customers. The marketing campaigns, with triggered emails are highly relevant and they keep your leads engaged and ultimately help generate higher ROI.
If your business knows how to delight your customers throughout
the lifecycle of a lead, whether by sending a sincere thank you email correspondence or by sending a milestone email for a customer’s anniversary or birthday. Thus, by sending relevant and chronological messages, businesses gain/acquire the ability to build strong relationships with their customers.
- Your segments must be updated in real-time
True personalization cannot happen without segmentation. Creating segments, which are not updated in real time would only pave way for untargeted messages. To automate email messages based on a customer’s behavior, you should ensure your segments are updated in real time.For example, when a customer, whether new or existing has abandoned his/her cart prior to a checkout cart recovery message would be triggered to him/her. However, if he/she has returned and makes a purchase before the first email in your cart triggered emails is fired, then automatically he/she should exit the cart abandoner’s segment. But in case of absence of segments, that are not updated in real time, the above scenario cannot be averted.
- Use Omnichannel messaging
The consumer is paying little or limited attention. For single purchase, we find numerous digital channels involved and buyer cycle is complicated. Businesses running an Omni channel campaign could fall through the cracks if their customer data is stored in silos. Hence, businesses must have a customer-centric approach, and to achieve it, they need to have single customers view across all channels. - Begin small and as you progress, automate more
Marketing automation tools provide many possibilities and it is difficult not to get carried away. And by trying to automate all at once, might yield less effective results. Additionally, it can be very difficult for businesses to judge the effectiveness of varied campaigns.So, start small, keep your focus on low hanging fruits first; this is the best marketing automation strategy. For example, shopping cart abandonment is one of the biggest reasons for lost sales. And still, we find most of these retailers do not have well-crafted email strategy for cart recovery. If your business lacks a proper cart recovery program, then your first goal should be to implement one. By doing so, businesses would find it easier to track their progress, and they will be able to learn to optimize as well.
Marketing Automation for small businesses should follow these tricks, to speed up gradually. They need to identify what they require to automate next. Their approach to automation would help determine the level of success they achieve. In the era of customer-centric approach, there exists no shortcut for success.
- Harnessing data to achieve growth
You cannot manage what you cannot measure. In the past, marketing has been mostly data driven, but today’s marketers have access to an unprecedented volume of customer data to sift through in real time.In the present era of big data, marketers need to track how and when customers are interacting with their campaigns, to optimize the process and send relevant content. However, most marketers are failing to use meaningful insights.
McKinsey, a global institute, has conducted research and found that these companies with data at the heart of their marketing, as well as sales activities, experience only 15 to 20% increase in Return on Investments (ROI). Hence, marketers should learn to leverage this available data; only then will they be able to improve conversion.
Do you wish to use Marketing Automation? Try Getting in touch with us we would be happy to assist you.
Why Digital Marketing Is More Important in the COVID-19 Era?
When web 1.0 evolved in the 1990s, digital marketing also started in its infancy stages. As the web evolved, so did digital marketing. With .com bust in 2000, a lot of people written off digital marketing as a thing of the past. However, digital marketing not only survived but became more essential with each downturn and recession that came along.
The current COVID-19 situation is completely different. This is a once-in-a-generation pandemic that has put the whole world on high alert. People are losing their jobs with many businesses have paused (some even ceased) their operations globally. Companies slashing marketing and sales budgets, projecting far lesser sales for the year 2020.
According to the survey conducted by Morningstar.com, “US GDP will fall 3.9% and global GDP will fall 2.4% this year.” In these current circumstances, many marketing leaders will be re-assessing their digital marketing budgets for the year 2020 and beyond.
Marketing Channels During the COVID-19 Pandemic
One of the best marketing channels is the events/conferences, where you get to meet your prospect in person and try to close the deal. Starting from March 2020, many events moved online/cancelled, including Adobe Summit, Salesforce Connections, Facebook’s F8 Developer Conference, and Rakuten’s Advertising Marketing Deal Maker Event. Here is a list of marketing conferences impacted thus far – with very few are planning to go ahead with their plans.
While in-person event cancellations at this scale mean you losing valuable leads or delayed new business. With all in-person meetings are being replaced with online meetings, offline marketing will be far less impactful for the rest of the year. Because more and more people are staying indoors, and spending time on their phones, and computers more than ever, brands have opportunities to connect with their audience thru digital channels.
Impact of COVID-19 on eCommerce Industry
Widespread concern of virus spreading thru air, surfaces caused people to stay home mostly, and impacted the day-to-day habits of consumers all over the world. People not only avoiding their workplace but restaurants, malls, supermarkets, fashion stores, and other public places as well. With all the social distancing rules in place, people are spending more online, it translated into increased eCommerce orders, from local groceries to pure eCommerce players. Companies like Instacart reported 40% increase in orders since the pandemic fears started.
This presents a great opportunity for many companies to expedite their eCommerce plans, or revitalize them. Check out NextRow’s Magento Commerce services.
Where Should Marketers Put their Marketing Dollars?
As more people are staying online, social media platforms like Facebook, LinkedIn, and Instagram have reported a significant increase in content sharing. Netflix witnessed a significant jump in their content consumption during the Q1 2020.
As online browsing has become a new normal for people, as a marketing leader, it won’t be difficult for you to decide on where to invest your marketing dollars.
How to Create a Right Marketing Message During these Tough Times?
One simple answer: Empathy marketing. People make buying decisions based on emotions. No matter how superior your product/service is, if the customer doesn’t connect with your brand, the chances of buying your product/service is lesser.
Forrester Consulting found, “65 percent of marketers struggle to employ emotional marketing as they turn to automation to improve customer engagement.”
Show empathy towards others in your marketing message. Put yourselves into their shoes and assess if the message would resonate with you.
What’s the Takeaway for Marketers?
There is no right or wrong way of marketing. It’s all about emotions. It’s all about empathy. Your ability to connect with your audience with the right message is the key to your campaign success.
Analyze each campaign and see what connected the most/least with your audience. Polish and fine tune your campaigns to get the best results.
How NextRow Digital can Help You to Succeed with Digital Marketing in the Current COVID-19 Situation and Beyond?
NextRow Digital has been an Adobe partner for more than a decade and has experience with Marketo since 2015. Our marketing specialists can help you create and execute dynamic campaigns that your audience deserves. It is not just about email marketing. You need to get your audience attention at every step of the way through ABM, web personalization, and more.
We have built strategies for winning campaigns. We help you succeed in nurturing your lead and converting them into customers and help with the right marketing message to keep them as a loyal customer. If you would like to discuss more, please reach out to sales@nextrow.com or simply call +1-(888)-578-6558
Magento 2.4.2- A Contemporary Approach for ECommerce Business
Magento is always releasing upgrades and improvements to enhance user experience. This time, Magento 2.4.2 introduces advanced performance, better security, and many other features and functionalities. With more than 280 bug fixes and 30 security improvements, it takes UX to a completely new level. Let’s see what is new in this version of Magento and how you can use it to your advantage.
Major highlights of features and functionalities of Magento 2.4.2 are:
- Split Database and VBE (Vendor Bundled extension) are marked as deprecating in Magento 2.4.2, which will no longer be supported in the further updated version of Magento.
- Magento 2.4.2 comes with the Alpha version of the upgrade compatibility tool that tells you about the issues in code while upgrading to a new version of Magento.
- New level of security and performance.
- Headless commerce support.
- This version of Magento supports Varnish 6.4, Redix 6, and is compatible with composer 2.x.
- New experience for B2B merchants and end customers.
New Security updates
With the growth in online shopping and sales, online fraud is also growing at a faster rate. As per a report, it has been revealed that companies will generate 20% more revenue if they are digitally trustworthy in comparison to companies that have lost or are slow to building trust. Keeping these facts in mind, Magento makes Magento 2 more secured and trustworthy by reducing the security backlog issues by almost 93%.
In the case of a vulnerability, any attacker first retrieves data from Admin. Magento provides several steps to process administrative data such as 2-factor authentication, IP allow listing, use of VPN, and more.
The major security updates are:
- All core cookies will support the Same Site attribute to fulfill the cookie regulations.
- Better approach for close remote code execution (RCE) and Cross-site Scripting (XSS) vulnerabilities.
- File system operations have been improved to avoid malicious uploads.
- No more core content security violations.
Advanced Infrastructure
With an advanced customer account, cart, checkout process, catalog, OMS, CMS, B2B platform, import/export, and preview, Magneto 2.4.2 improves the core quality of the framework and its functions.
Magento claims that the improvement in the media gallery makes its performance 30 times faster. It’s now easier to manage and work with images, transforming your current sales process into a more efficient version of itself. Plus, the media gallery is now integrated with Adobe Stock so that you can access stock images from the media gallery.
PWA Studio supports
PWA Studio enables Magento to support multi-language and multi-currency, so merchants can easily launch a high-performing international website. It also supports multiple stores. In addition, Magento adds the “My Accounts” section in Venia, along with optimized performance and better extensibility.
An Advanced Search engine makes the customer experience better
Almost every visitor of your website will perform a search action to find relevant products or services. So, this needs to be more accurate and user-friendly. Magento is now offering an excellent search experience with Elasticsearch. The Magento search engine powered by MySQL is dead in its recent version. Now, you need to install Elasticsearch on your server. This improvement will definitely take your customers’ experiences to a new level of happiness.
A new experience for B2B
Magento 2.4.2 brings a lot for B2B buyers and sellers. It introduces a new online payment system with purchase policies and enables a merchant to accept payment through any payment mode. Using GraphQL APIs, Magento delivers amazing headless B2B capabilities, such as:
- Seamless integration with other content management systems;
- An easy to update front-facing content layer, minus making any changes in the back-end logic;
- Faster website scaling;
- And help with your personalized marketing approach.
AWS S3 Support
Magento 2.4.2 comes with advanced support services for Amazon Simple Storage Services (AWS S3). Now you can store media files on AWS S3. The platform will also support object storage so that you can access those objects in the future.
Magento 2.4.2- A futuristic version of itself
Magento is well-known for bringing new features to users. As this is the age of futuristic technology and customer-centric business approach, Magento is driving its platform accordingly. With every upgrade, it offers more for the sellers, developers, marketers, and buyers. We can expect more from Magento in the future.
If you need any help regarding Magento or its recent update, contact us at +1-847-592-2920 or ecommerce@nextrow.com. We are always happy to help.
Want to Become An Expert In Marketing Technology?
Marketing is an indispensable part of business, or of profitable business. The old days of marketing were limited to banner ads, events, door to door, word of mouth, television advertisement, and radio advertisement. Modern day technologies and internet have completely transformed marketing. Nowadays, marketing is a vast term that encompasses both the “old days’” and todays’ techniques. Marketers must possess a strong understanding of their industry and customers, as well the capability to think out of the box and use the tools and technologies of the trade.
MarTech has become a buzzword, which is a term used to identify tools and technologies used for marketing. Here are examples of MarTech,, why marketers use and should continue using MarTech, and how it is used to make a marketing approach more efficient.
MarTech – A combination of Marketing and technologies
MarTech could be any technology or software that helps a marketer plan, execute, analyze, and optimize marketing campaigns to efficiently achieve previously set marketing goals. MarTech applications automate and streamline a marketer’s day-to-day activities.
MarTech simplifies –
- Planning and execution of marketing campaigns;
- Collection and analysis of the results of marketing campaigns;
- Measurement, tracking, and analysis of the market campaign’s performance;
- Implementation of the insights in future campaigns.
Key MarTech Categories
| S.No | Categories | Sub-categories | Examples |
|---|---|---|---|
| 1 | Content Marketing Tools | Content Management system, Search engine optimization, Landing Page and A/B testing, Content Curation Tools, Content marketing platforms, Digital Asset management, Lead magnets | WordPress, HubSpot, Drupal, Moz, Ubersuggest, Yoast SEO, Coveo, Unbounce, Wix, Instapage, Scoop.It, BuzzSumo, HubSpot, Marketo, Adobe Experience Manager, Bynder, OptinMonster, Sumo, Bloom, etc. |
| 2 | Rich Media Tools | Video making tools, Video Marketing platforms, Podcasting tools and apps, Graphic design tools, Interactive content | Biteable, DaVinci Resolve, Wistia, YouTube, Vimeo,IBM Cloud Video, iTunes, Google Podcasts, Canva, Pixlr, Adobe Creative Cloud, SnapApp, Prezi, etc. |
| 3 | Social Media Tools | Social Media management tools, Social Media Monitoring tools, Influencer Marketing platforms | Hootsuite, Google Alerts, Upfluence, Brand24, etc. |
| 4 | Marketing Automation Platforms & Tools | Marketing Automation software, Email Marketing Tools, Mobile Marketing platforms | Hubspot, CleverTap, Marketo, Salesforce, Marketing Cloud, MailChimp, etc. |
| 5 | Advertising Platforms and Tools | Search engine marketing, Social Media advertising, Native advertising, Programmatic advertising | Google Adwords, Bing, Qwaya, SmartyAds, Taboola, etc. |
| 5 | Sales Enablement Tools | Sales Automation Platform, Customer Support tools, Customer relationship management | Zoho, Zendesk, HubSpot, Salesforce, Outreach, etc. |
| 6 | Data and Analytics Platforms | Data management platforms, Customer Data platforms, Web analytics, Tag management, Predictive analytics | Adobe Audience Manager, Google Analytics, Kissmetrics, Evergage, Google Tag Manager, Aviso, etc. |
How to use and deploy Martech in business process
There are more than 5,000 MarTech products catering to different industries, meeting marketers’ challenges, and reaching different areas of marketing. Selection of relevant MarTech depends upon need and complexity of the technology. For instance, WordPress is a MarTech solution that meets the needs of a blog or CMS website.
Businesses need to have a clear, centralized vision and marketing plan/goals before adopting a MarTech product. Otherwise, the business might accidentally adopt multiple technologies with similar or overlapping features. For instance, one department is using Mailchimp for email marketing and another one is using Marketo, adding to avoidable business expenses.
Finding the quintessential MarTech solution for each organization completely depends on each one’s business model, size, resources, business goals, and requirements. Also, keep in mind that your marketing goals will change as you meet and surpass each one, so you need a tool that will allow for this growth.
Arrange your MarTech Tools to bring efficiency
The collection of all marketing tools and technologies is called MarTech Stack. To reach your marketing goals, it is vital that all of your MarTech tools integrate or meet at different stages of the marketing funnel. An organized MarTech Stack leads to:-
- Marketers conveniently integrate and share relevant marketing data to create meaningful reports easily.
- Marketers easily select the most relevant apps or tools for their requirements, boosting efficiency.
- Less downtime since some of these tools can assist in interdepartmental sharing. All of the above equal better efficiency, which we all know is equal to more revenue.
How to make a perfect MarTech stack
- Marketers may get confused as to which Martech tools should be used as they have loads of choices available to them. To build a MarTech Stack that can bring the desired result, you should take a look at your marketing process and funnel. Here are few key points and questions that can help create an effective MarTech Stack:
Understand your business model: What is the product or service? Are you a B2B or B2C business, Business sector? Is there a natural sales cycle, Pricing model? - Understand each and every stage of your marketing funnel. How do you process these steps in marketing funnel –awareness, interest, purchase, consideration, post purchase evaluation, and repurchase?
- What is your marketing approach? How do you collect customer data? How do you create customer personas? How do you communicate with your customers? What are your strategies for content distribution across multiple platforms? How do you identify and nurture the leads? How you track your campaign’s performance, and how you get and use insights from reports?
A lot goes into making MarTech decisions, but remember that this investment will propel your business toward your preset marketing goals and desired revenue.
Conceptualization of MarTech Stack
Now, start making a list of MarTech tools that you require to create a market funnel that suits your business model and goals.
You need to understand that every business has its own unique requirements and thus they need a unique MarTech Stack, however there are a few tools and technologies that you can expect to add or consider adding to your MarTech Stack:
- Content Management system
- Email marketing tool
- Social media platforms
- Automation software
- Analytic tools
- Conversion tools
- CRM tools
- Customer service
Take one step more to become a leader
You know now what MarTech and a MarTech Stack are, why you should adopt these two into your marketing approach, and how you could implement these. No matter what solutions you go with, there are a set of traits that you must own or be willing to develop to become a tech marketing expert in MarTech:-
- Ability to think critically and creatively. You must be creative in approaching people, showcasing your products, and so on.
- Be ready to take calculated risk. As every approach is based on set goals, you should have the ability to take risks to determine the most effective marketing strategy.
- MarTech always bring new changes and updates, so you must be willing to learn.
- Longevity to gain experience. You should have in-depth knowledge of at least one marketing area and know how to make a great marketing strategy.
The Parting words
Becoming a tech marketing expert in Marketing Technologies is not easy; it requires a lot of research, creativity, out-of-box thinking, marketing expertise, as well as a little bit of technical knowledge. Look, you’ve just added to your knowledge by reading about the umbrella term MarTech and the unlimited opportunities it unlocks for marketers.
If you still have questions or want to know more about MarTech feel free to contact us at +1-847-592-2920 or marketing@nextrow.com.
Improve Your Conversion Rate With Magento PWA
A few years ago, it was believed that if you are not online you don’t exist. Now, almost every business is online, and yet this is not enough. Nowadays, the major focus of brands is to increase conversion rate and sales. They are adopting and implementing new technologies and techniques that lead to better conversion rates and customer satisfaction. Progressive Web Application (PWA) is one of them which is integrated into the website, especially by e-commerce players.
The increasing use of Smartphones and Google’s algorithm (mobile-first indexing) increases the importance of mobile apps and mobile sites. Mobile apps and sites are remarkably important for businesses but PWA exceeds the consumer’s expectations in terms of ease of use, reliability, and speed. It gives users a similar experience to mobile apps but with lightning speed, better accessibility, and frictionless user experience. Plus, it is designed to provide a similar experience to native apps but it can work offline and it is cross-browser compatible.
Here is a quick comparison of PWA with native mobile apps:
Major Reasons to Apply PWA in Magento 2
Brands can enjoy many economic and efficient features and functionality of the Progressive Web App. Some of the major benefits that must be considered are:
Optimizes user experiences
PWA combines the best features and eliminates the constraints of both mobile websites and native apps to provide a magnificent experience for the end-users.
Offline supports
Consumers need not download any apps on their mobile, they can start immediately after adding the app to the home screen. They can even enjoy a seamless experience with no or bad internet connection.
SEO friendly
PWA supports browsers and it supports technical SEO aspects for site optimization and discoverability in search engines. Major search engines such as Google have mechanisms that crawl the JavaScript of the site including Progressive Web App sites.
Site security
PWA can be secured with HTTPS that will help you in two ways-
- It improves the trust factor of your site
- It helps in SEO ranking by maintaining a crawlable sitemap
Relatively easier and less expensive than native apps
Brands need to develop two separate apps for iOS and Android users which is not the case with Progressive Web App. A single base code will be used for both platforms and save money, time, and effort on app development and maintenance. Additionally, Developers and the merchant community can take advantage of Magento PWA Studio to accomplish their job (coding, deploying, and maintenance) more efficiently.
Hold a significant place in the eCommerce landscape
PWA in Magento is making a buzz around. Flipkart increases its conversion rate by 70% with its progressive web applications and many more giant players in the industry are making billions with this technology.
A Few Popular Ways to Build Magento PWA Magento 2 PWA Extension
There are various PWA extensions available that can be installed to add progressive Web App features to a Magento website. Though it is an easy and cost-effective way to turn a site into Progressive Web App, most of the extensions do not deliver full features. Some modules provide basic PWA features such as “add to home screen” and send push notifications but ignore some essential features such as fast page load, offline mode, etc. Be careful with extension installation, first try the demo and then come up with any decision.
Magento 2 PWA Studio
Magento 2.3 and above offers the Magento PWA Studio project, a set of developer tools to develop, deploy, and maintenance of PWA storefront.
It is a comprehensive solution in comparison to the PWA extension to build a PWA from scratch. Your Magento storefront will be replaced with a PWA storefront that will be connected to your backend via API.
Magento 2 PWA Theme
Magento 2 PWA Theme is an advanced process to convert your Magento storefront based on PWA studio, ReactJS, and GraphQL. It allows you to connect a PWA storefront using built-in API to the Magento backend.
This is the most efficient solution to integrate Progressive Web App with all essential features such as fast loading speed, ease to add on the home screen, easy update, offline mode, low data consumption, and more. It offers ease and scalability to the developer as well, as its storefront demo is much better than the default version of Venia Storefront.
The cons stay with the third-party extension compatibility that needs to be checked for new storefront and storefront design has to be customized as per your requirements.
Get Ready for the Future
Experts are seeing great potential in Progressive Web App in the future and it Is believed that it may replace native apps down the road because of its extensive benefits for developers, marketers, and end-users. Cost-effective, easy to develop, secured, SEO enabled, and you have so many reasons to integrate PWA into your Magento websites. You can either choose it as an alternative or supplement to your native apps or conventional site. Moreover, you can consider all PWAs, conventional site, and native apps to connect with a greater number of potential users and improve the conversion rate.
If you have any queries or need expert help for PWAs development, deployment, and maintenance, contact NextRow at marketing@nextrow.com.
The Future of Marketing, Powered by AI
2023 seems to be the year of AI.
Heralded by the immense popularity of the conversational AI language model ChatGPT, artificial intelligence and its adoption across different industries have become buzzwords in the public domain. Although, this massive influence seems to be a new trend, in reality, AI has already penetrated seemingly every industry over the last few years.
From business process automation to photo editing and voice assistants, the benefits of artificial intelligence are extensive, particularly for marketing. AI can dramatically enhance and elevate the core activities of marketing including assessing customer requirements, correlating them to appropriate products and services, and even persuade users to purchase.
In this blog, we’ll take a deeper look at the influence and impact of AI in marketing, and how you can leverage the technology to improve your marketing efforts, enhance experiences, and motivate customers to act. But before we describe the impact of AI, let’s look at the current state of play.
AI in Marketing – The Latest Buzz
Ever since its public release, ChatGPT, the conversational AI language model developed by OpenAI, has been making major waves in the marketing realm. ChatGPT builds on OpenAI’s previous text generator GPT-3, an advanced language model that uses deep learning techniques to generate human-like text. The platform can help create high-quality content that is relevant and tailored to the needs of specific target audiences.
While ChatGPT has been the buzzword for the past few months, it is not the only AI tool gaining favorable reception amongst marketers. Open AI’s DALL-E 2 is a generative model that can create original images from textual descriptions and has been receiving significant attention for its ability to generate creative and unique images.
Meanwhile, the tech giant Google also announced the soft launch of its experimental conversational AI service, Bard, powered by LaMDA. Google claims that the tool is capable of offering fresh, high-quality responses as it takes information from the most recent record of online material available.
Adobe has also joined the generative AI race with the launch of a new family of AI models called Firefly. Adobe Firefly will be part of a series of new Adobe Sensei generative AI services across Adobe’s clouds. While Adobe already has over a decade-long history of AI innovation (delivering hundreds of intelligent capabilities through Adobe Sensei), with Firefly, Adobe intends to bring generative AI-powered ‘creative ingredients’ directly into customers’ workflows.
How is AI as a Service Transforming Digital Marketing Strategies
While the impact of AI has been increasingly prevalent in all major industries, it has been significantly high in marketing. The technology has revolutionized the industry, providing marketers with a new set of tools and techniques to better target and engage with their audiences.
Some of the most popular and effective ways AI is being used in the marketing industry include:
Personalization
AI helps marketers efficiently analyze consumer data and deliver personalized content and services based on individual preferences, behavioral patterns, and purchase history.
Predictive analytics
AI algorithms can analyze large amounts of data and make accurate predictions about consumer behavior, including the products they are most likely to buy, etc. This information can be used to further optimize marketing campaigns and personalize messages.
Marketing automation and SEO
AI helps businesses analyze large quantities of data and identify consumer behavior patterns to categorize relevant, SEO-friendly, and high-performing keywords for their marketing campaigns. AI can further help in discovering content topics, relevant titles, grouping search intent, keyword research, and even creating content structure.
Programmatic advertising
AI-powered programmatic advertising tools can help automate the complete process of the buying and selling of ad inventory. This enables marketers to target specific audiences with relevant ads in real-time.
Content creation
AI can also be used to generate unique content for marketing collaterals like blogs, product descriptions, and even social media posts based on the parameters set by the marketer. Text generative AI uses NLP algorithms and large language models to automate the content creation process.
Image and video generation
With deep learning algorithms and generative adversarial networks (GANs), AI can automate image generation. Such highly realistic images of products or other services can be used on marketing collaterals, branding materials, visual advertising, etc. Similarly, generative AI video tools can be used to build high-quality product demo videos and other marketing videos to increase brand awareness.
Chatbots
Another popular use of artificial intelligence in marketing is the development of AI-powered chatbots. They can be used to provide real-time customer support and answer frequently asked questions, and thus free up the human customer service representatives to handle more complex issues.
Voice search optimization
Just like how AI-powered voice assistants like Siri and Alexa are becoming more prevalent among users, optimizing content for voice search queries is becoming increasingly important for marketers.
Image and video recognition
Advanced AI technologies like image and video recognition tools can analyze visual content to identify different products, people, and even locations. This enables marketers to accurately target ads and consequently improve the efficacy of their campaigns.
In short, AI has the potential to help us make data-driven decisions, optimize campaigns, and overall improve customer experiences comprehensively across various channels. The use of AI in marketing is growing rapidly, and in future, it is expected to play a major role in aiding marketers to deliver more effective and personalized experiences to their customers.
Getting Started with Your AI Journey in Marketing
As technology advances, artificial intelligence will take on more prominent roles across marketing, thus paving way for growth and innovation. Before taking the plunge to implement AI, make sure you define your marketing objectives and identify the areas your entire strategy can benefit from AI. Also, make sure you determine the use cases where AI can improve the efficiency of your marketing programs.
Prepare your marketing teams to utilize quality data inputs as this will ensure that your AI tools can generate valuable insights and accurate predictions. To begin with, always divide your strategies into smaller manageable projects and modify as you learn and gather experience in using artificial intelligence.
The key is consistency – start small, iterate, and constantly improve.
How NextRow Can Help Boost Digital Campaign Effectiveness with AI-Powered Solutions
For businesses to stay competitive in today’s digital world, it has become imperative for marketers to offer out-of-the-box experiences to customers, and AI is the way to go about it. Having an in-depth understanding of their target audience can help businesses to identify the most valuable prospects and deliver personalized user-centric content that they can resonate with and aligns with their interests. Leverage the power of AI to attain these benefits and keep your business ahead of the competition.
At NextRow Digital, we help businesses utilize advanced AI-powered tools to optimize the targeting capabilities of marketing teams and facilitate the delivery of the most appropriate content for each customer.
- Through marketing automation services, we can help businesses increase their time and budget efficiencies, eliminate human errors, and streamline processes.
- Using a combination of data analysis, AI, and ML tools, we can help enterprises create unique marketing strategies that analyze consumer behavior and generate approaches based on their preferences.
- By drawing inspiration from our previous successful implementation of customer-centric marketing strategies, we can assist marketers to create AI-backed marketing campaigns that provide them the maximum return on their investments.
If you would like to know more about these tools and how they can help scale up your marketing efforts or how to choose the right tools and implement them into your business process; contact us at sales@nextrow.com. We are always happy to answer all your queries.
4 New Features of Adobe Target to Personalize Mobile Users Experience
Today, customer experience is the bridge that connects the brand with existing and potential customers. Currently, of all other tools, none can match the personalization features and advanced capabilities that are included in Adobe Target for the Enhanced customer experience. It was first unveiled at the Adobe Summit of 2014 as an integral part of Adobe Marketing Cloud Suite. Later on, it was integrated with the Adobe Analytics Suite to enrich the marketing profile by leveraging its behavioral data. We all know that the contemporary digital period is being ruled by the mobile or smartphones, so digital marketing is revolving around it. Keeping this in mind and to let brands woo their mobile customers, Adobe has made several improvements in its Target tool. Let’s have a look at some major changes that have been incorporated by the Adobe in Target for Mobile Marketing.
1) Latest Visual Experience Composer:
This new feature makes the personalization experiments effortless on mobile apps and thus help you in creating robust Apps. We all know that App acts as the face and is very significant for every brand to reach their customers. To make any changes it needs to update the developer code and submit the changes to the respective App store, which makes it a time-consuming affair. Further, in the lengthy development processes, it may take a longer time period to accomplish and implement all the changes. With the latest new visual experience composer in the Adobe Target, one can easily exchange text and images in the native mobile app and can easily run A/B/n tests for all the changes. This feature helps you optimize the mobile experience and drive increased utility to your customers.
2) Adobe Target’s Batch Experience Prefetch For Mobile Apps:
Today, mobile devices let you connect with any brand from anywhere and at any time. Of all the internet traffics, about 60 percent is through the mobiles and so an always-on personalization for the mobile visitors is a must. Sometimes due to unavoidable situations or bad network connections, the interaction of users with your brand can be interrupted. This can be a lot frustrating on the users’ part and can be a loss of customer on your side as well. So, in lieu to overcome such situations, Adobe Target Batch Experience Prefetch feature can be very handy. It ensures always-on personalization even in the lack of proper internet by increasing the speed and performance of the App. It can be simply done by using Adobe Mobile SDK and letting Adobe Target fetch all the requests of visitors in batch. Then Target caches all this information on the EDGE network or on local, or both. So, whenever a visitor reaches out to your App, the Adobe Target quickly evaluates and delivers the required experiences throughout the App to the user. This ensures that visitors always have a personalized experience from any place and at any time.
3) Optimization of Node.js Websites and Applications:
Currently, almost every development work for websites and mobile apps are being carried out by using Node.js. It’s so because Node.js uses JavaScript, which makes it easier to port the code on both the client and server-side. Also, the overall development cycle can be increased because Node.js is available in the open source environment and one can get many reusable libraries developed by the other developers.
Apart from the above, the Adobe Target’s Node.js SDK let you optimize your website or mobile apps server side as well. Additionally, Adobe Target has built-in unified Visitor ID service, which lets you avail Adobe Analytics native integration features.
4) Mobile Experience Preview:
This a latest and a unique feature of Adobe Target that lets you test the experiences and personalize the content for the mobile users. One can perform the test based on the different global regional preferences and view the regional content variation directly on their device. Mobile Experience Preview also helps a brand to perform QA analysis of app activities without even activating them. Using this mobile experience preview feature, one just needs to create a preview link and send it to the mobile device and then click or paste the same link into any browser to see the impact it will generate. Along with this, one can also share this link with other stakeholders for review and approval purposes and members with that link can preview those before the live launch activity.
The above-discussed points are the latest changes made by Adobe to enhance Adobe Target Mobile Capabilities for advanced Personalization. We must understand that Today one need to deliver more personalized experiences to numerous consumers located globally. Adobe Target empowers marketers to create and deliver personalized experiences and is a game changer for digital personalization and provides much-needed help to marketers for maximizing revenue.
NextRow Digital, an Adobe Business Solution Partner, comes with vast experience and knowledge to effectively implement Adobe Target solution to your existing digital platforms. We have highly skilled professional and Adobe Certified digital consulting teams to deploy it and help you create a robust digital infrastructure. For any query or help contact us at +1-847-592-2920 or follow the link
Adobe Target: Basics and Beyond
Adobe Target is a website optimization tool that enables data-driven marketers to optimize and deliver personalized, content-led experiences to their customers. Known for its A/B testing and multivariate testing, Target can help you decipher the prospects’ journey and build an engaging audience segment to convert MQLs into SQLs, thereby improving the overall conversion rate. It makes it easy for enterprises to modify the webpages for short-term campaigns and testing, allowing you to display certain content dynamically to a specific set of audiences.
Featuring integration capability with Adobe Analytics for reporting purposes and audience creation to deliver different content to different types of visitors, Adobe Experience Manager for delivering dynamic content, Adobe Audience Manager for an integrated audience, and other Adobe Experience Cloud Platform Products, Adobe Target helps enterprises to deliver targeted and personalized content on the web and mobile sites, email and acquisition channels, mobile apps, internet-connected screens, devices, or any other channel that has content and can be tagged.
What can you do with Adobe Target?
Adobe Target contains activities, locations, experiences, offers, and audience. An activity allows you to test and target content to a specific audience that visit your website. That said, an activity has a start date (when?), a measurable goal (why?), and defines the experiences that each audience should see (what, where, to whom?).
Following are the different types of activities in Adobe Target which caters to specific goals:
- A/B Testing: Giving you a whole new experience, A/B Testing allows you to compare two or more variations of content at the same time to determine the best version for your audience.
- Multivariate Testing: Leverage the benefits of Multivariate Testing to test multiple elements of a website simultaneously to see which combination works best.
- Auto-Allocate: This activity automatically identifies the winner of multiple experiences and allocates traffic to the best experience.
- Auto Target: Deliver highly personalized experiences tailored to the audience based on their actions with Auto Target; it helps you create the best experiences for all the customers every time.
- Experience Targeting: Make the most of Experience Targeting to offer different experiences to the audiences defined by your criteria.
- Auto-Target: This tool uses advanced machine learning to create automated personalization from combining various high-performing experiences to find the best combination for your prospects.
- Recommendations: When you want to retain the interest of website visitors for a longer period of time, you’ll want to use this activity because it provides recommendations for the additional content for the audience to view. For example, if a video streaming site wants a person to stay on their site for an extended time, they would recommend videos to watch after titling them “Related Videos.”
Location is referring to a page or any other place where you run the optimization. These locations are the places where you can run different activities and experiences. In Location, you can display and swap content for the different visitors, and/or track visitors’ behavior. Location is powerful in Adobe Target Classic because a location can be any element on a page.
Experiences essentially determine what content should be displayed and where elements should appear. When targeting conditions meet, the most suited experience appears for the audience. Experiences contain messages, image assets, HTML links, offers, and more!
Offers are the content that is displayed on your webpages based on the campaigns. For example, when a visitor visits your site during a clearance sale, he/she gets a deal that says, “Buy 2 Get 1 Free.” This is an offer. Offers can contain links, image assets, buttons, and text. You can also personalize offers based on your audience preferences.
Audiences are the groups of people we are targeting. They are defined by criteria such as the geographical location, age, gender, previous searches, and more. Each audience is in the receiving end of highly personalized experiences.
With all of these activities and tests, you can enhance, personalize, and automate your targeting. To top it off, you can also apply targeting to any type of campaigns from emails to mobile apps and see the results immediately. With automated personalization at the tip of your hands, marketing becomes easier; conversion becomes faster, and you become smarter.
Adobe Target is truly a remarkable display of technological advancements. If you want to target your website visitors with more confidence, then use Adobe Test and Target. Once you get used to it, you’ll never want to go back to simple marketing. This is the key to drive in customers and open doors for new opportunities.
5 Top Reasons Why You Should Migrate to Real-Time Adobe CDP
Customer Data Platform has shown promising features to deal with the challenges faced by Marketers. It gathers all your data in one place so that it can be accessed with ease by everyone for – Sales, marketing, and customer services. It breaks silos in the organization and presents a unified view of the customer data and profile that can be used by anyone not specific to sales or marketing or others. In a very brief period, it has made a significant place in today’s enterprise MarTech stack.
Adobe has introduced a Real-Time Customer Data platform (Real-Time CDP) with extensive capabilities. This new CDP technology solves the problems related to integration, labeling, segmentation, of customer data. Now, you can have in-depth information about your customers to build and execute an effective segmentation strategy based on integrated profiles.
Read how Adobe RT-CDP improves the customer journey.
Though there are many reasons, here we are presenting the 5 most powerful capabilities that could be a reason to migrate to Real-time Adobe CDP (RT-CDP).
Data Collection
With over 40 native connectors, 200+ partners, and more than 75 prebuilt marketing activation destinations, Adobe RT-CDP offers extensive capabilities for data collection. You can feed client-side information, server-side collection (APIs) data, call center data, mobile and app data, in-store data, and data from the CRM system into CDP. The incoming information can be behavioral data, demographic data, transactional data, POS, IoT, device data, and others. Apart from these, Adobe lets you build your own Connectors powered by APIs and get your data in.
Profile Management
The major challenge in delivering relevant digital experiences to the customers is the management of disconnected data and how to tie these data together coming from various channels. Adobe’s enterprise CDP helps in managing disconnected data, providing relevant and consistent digital experiences to your customers. It stitches data together to provide a complete view of your customers by linking identities and creating identity graphs for individuals. Adobe Real-Time CDP takes identity and profile management to a whole new level. It also offers streaming data ingestion that means profiles can be updated in real-time whenever any new action is noted.
No 3rd Party Cookies Dependency
Adobe prioritizes privacy and data governance in data collection and management. This is why it gives priority to first-party data. It stitches durable identifiers (e.g., email ID, contact details, CRM ID, etc.) with pseudonymous first-party cookie IDs. This will give you more control over data sharing and integration and insulate you from the problems that occur because of third-party data.
In Adobe CDP, identities take a different path by pegging them to the data sets. A data set can come in with any ID or multiple IDs and these IDs can be stitched together in real-time. Durable identifiers like email ID, phone number, CRM ID are stitched with pseudonymous first-party cookie IDs. Further, the data sharing and integrations are built on these synced IDs which help you get more control and insulate from 3rd-party data problems.
Let’s talk about what our Nextrow experts can do for
your business.
Adobe RT-CDP and CRM
Both are used to deepen customer relations but in different ways. They are different in the way how they are involved in marketing.
Closing Thoughts
Customer Data Platform is growing rapidly in the market and the reason is obvious. DMP and CRM have some equivalent features but overall CDP can stay on top with advanced features and capabilities. If you are confused about which vendor would be a perfect fit for you, see our guide.
For any query and help related to Adobe CDP integration and others, connect with us at marketing@nextrow.com.
Let’s talk about what our Nextrow experts can do for
your business.
Adobe Target: Personalization at scale Powered by AI
How to meet customer expectations at the right place and time, every time? Let’s find an answer!
Ensuring that you consistently optimally meet customer expectations requires a strategic approach. Let’s explore a quick exercise to highlight the significance of personalization at scale in this context. Please take a moment to pause your current activity and engage with someone you know by using their name. Notice the immediate impact—it grabs their attention and triggers a positive response, courtesy of feel-good hormones like dopamine and serotonin. This simple act communicates its importance to you and sets the stage for the importance of what you’re about to convey.
Enter new Adobe Target World – Personalization at Scale
In an era of customer experience, personalization extends beyond mere name usage. It involves accompanying customers at every step of their journey, anticipating their needs before they even realize them, and delivering precisely what they require exactly when and where they need it. The true power of personalization at scale lies in making every individual feel recognized and comprehended.
To boost customer experience, personalization must operate at a scale, seamlessly catering to the needs of hundreds, thousands, or even millions of customers in real time, regardless of their location. This level of personalization is not just a futuristic concept—it’s actively unfolding in the present.
In substance, personalization is about providing a tailored experience to the right customer through the right channel. Taking it a step further, personalization at scale is the ability to accomplish this for every customer across every channel in real time. This approach signifies the future of customer experience, and the exciting part is—it’s happening now.
The key ingredients? Flexibility and speed
The concept of personalization is not new, but in today’s dynamic landscape, it has evolved into a critical aspect of customer engagement. The multitude of opportunities to connect with customers in meaningful ways and cater to their unique needs has never been more abundant. Simultaneously, customer expectations have reached new heights, demanding businesses to execute personalized strategies on a massive scale.
Consider the scenario where a customer seamlessly transitions from online engagement with your app to seeking assistance from an in-store sales associate. They anticipate a continuous and personalized experience throughout this journey. Whether they’ve recently favorited a stylish blue polar fleece tracksuit or it’s their birthday month, customers expect businesses to keep pace and respond accordingly. Imagine having a 20% off coupon for tracksuits ready for them at checkout—it’s the kind of personalized touch that leaves a lasting impression.
Revolutionize the way you connect with your customers!
Five personalization challenges to plan for your Business
Challenge 1: Extracting the Power of Data
Data is the backbone of personalization, but its potential often remains untapped. Many brands struggle to convert data into actionable insights due to inadequate data management. This is reflected in the fact that 78% of marketing organizations, as per Adobe’s 2022 Marketing Organization Performance Index, feel ineffective in utilizing data. The solution lies in consolidating customer and account data into a unified platform, powered by AI and machine learning. This integration not only enhances understanding but also facilitates the creation of personalized experiences, potentially adding $5.6 billion (about $17 per person in the US) in revenue within six months.
Challenge 2: Building Trust Alongside Data
As custodians of vast amounts of data, businesses must prioritize security and privacy. Adobe’s 2022 Trust Report reveals that 72% of consumers lose trust in brands due to poor personalization execution, leading to potential long-term damage. With the phasing out of third-party cookies, first-party data gains precedence. Investing in tools that securely leverage first-party data is crucial to building and maintaining trust, especially in a future without cookies.
Challenge 3: Content Proliferation
The demand for personalized content across diverse channels poses a significant challenge. Organizations grapple with fragmented content operations, hindering collaboration and productivity. To address this, businesses need a centralized platform for content creation, delivery, and optimization. Streamlining these processes is essential for meeting the increasing demands of personalization at scale.
Challenge 4: Consistency Across Touchpoints
Maintaining a consistent and connected customer experience is paramount. Businesses often struggle to deliver personalized experiences across various touchpoints, risking customer disengagement. A mere 12% of companies currently make nearly all customer experience decisions in real-time, highlighting the gap in personalizing the entire customer journey. An integrated digital infrastructure that acts on real-time data across all customer interactions is the key to addressing this challenge.
Challenge 5: Scaling Personalization Effectively
While personalization at scale proves its value, scaling it can be overwhelming for many brands. The uncertainty around required systems, technologies, and processes can hinder progress. However, a well-defined strategy is the solution. With a solid plan in place, scaling personalization becomes more manageable, ensuring a seamless transition from initial efforts to a comprehensive and effective personalization approach.
Must Read Stats
The study emphasizes the tangible benefits of personalized experiences, ranging from financial gains to employee satisfaction and superior performance throughout the customer journey.
- Commissioned by Adobe, a Forrester Consulting study reveals the significant ROI of one-to-one personalization at scale.
- Companies investing in improving customer experience outpaced others in revenue growth.
- Experience-focused organizations grew revenue 1.7 times faster in 2021.
- Prioritizing customer experience increased customer lifetime value by 2.3 times compared to digital laggards.
- Experience-driven businesses not only excel financially but also boast happier employees.
- Across the entire customer lifecycle, experience-led organizations outperform in attraction, retention, and advocacy.
Make Digital More Personal with Adobe Target NextRow Services
Even with a vast customer base, personalization can be the key to forging a profound bond with everyone. By making strategic personalization choices, you not only gain insights into your customers but also earn their trust, leading to enhanced acquisition, satisfaction, and retention rates.
NextRow has the potential of personalization to revolutionize your digital interactions and create unparalleled customer experiences. Here’s how our experts Adobe Target guide can help you on this transformative journey:
- Harness the Power of Data: Utilize cutting-edge technologies for data collection, insights, and profile creation. Maximize the value of your data to truly understand your customers.
- Build a Robust Content Delivery Engine: Establish a scalable engine with industry-leading solutions for content production, collaboration, delivery, and optimization. Ensure your content resonates across various channels.
- Craft Seamless Personalized Journeys: Leverage technologies designed for omnichannel orchestration at every phase of the customer lifecycle. Create journeys that seamlessly adapt to individual preferences and behaviors.
- Embrace Cultural and Operational Change: Implement the necessary changes in culture and operations to stay agile and respond swiftly to evolving customer expectations and market dynamics. Stay ahead of the curve in this fast-paced digital landscape.
With Adobe’s comprehensive solutions, you can not only meet but exceed your digital transformation needs. Discover how our expertise can support your journey and help you achieve unparalleled personalization at scale goals.
Get Started with Personalization at Scale | Adobe Target Services Powered by NextRow
In our previous blog we explored the world of personalization at scale with Adobe Target powered by AI. We learnt how to elevate customer engagement intelligently. Moreover, we understood how NextRow experts can guide you through challenges, harness data, and create seamless personalized journeys and how to make digital more personal with Adobe Target services. Now is the time to go ahead and know the four-strategies on which personalization at scale hinges. Let’s scroll the blog to know our answer!
Before that if you’re crafting your personalization plan keep these principles in focus:
- Make your data actionable—it’s built for action.
- Instill trust by letting value lead every interaction.
- Ensure a seamless journey with no breaks.
- Understand the context behind every move.
Strategy 1: Optimize data and insights.
In today’s dynamic business landscape, scaling personalization requires a strategic investment in a robust data and insights platform. This platform should seamlessly integrate customer experience data from various channels into a unified model, ensuring real-time delivery of optimal experiences. The days of scattered data across different platforms are gone; now, it’s crucial to centralize data in a flexible, unified model for effective targeting and personalization.
a) Identify the Customer.
- Integrate data from all communication channels to create a unified customer profile.
- Enable the integration of customer and account profiles with other experience technologies.
- Build and activate profiles in real time on relevant platforms.
b) Know the Customer Journey.
- Gain a comprehensive understanding of the customer journey across all channels.
- Utilize technology to collect, combine, query, and visualize data in real time.
- Leverage AI to improve the speed of acting on customer insights, a critical aspect often overlooked by businesses.
c) Get Buy-In.
- Establish a first-party data foundation to reduce dependence on third-party cookies.
- Emphasize the importance of customer retention as acquisition costs are expected to rise.
- Utilize first-party data to personalize experiences, enhance customer loyalty, and inform strategic decisions.
d) Govern Responsibly.
- Acknowledge the responsibility to protect customer data and deliver meaningful experiences.
- Implement a data governance framework to ensure privacy rules are consistently applied.
- Address the challenge of managing and enforcing data usage appropriately.
e) Do it All in Real Time.
- Integrate technology systems into a cohesive martech stack for improved customer experiences.
- Achieve a seamless flow of data to minimize latency and disjointed experiences.
- Emphasize the importance of real-time processing for delivering personalized customer experiences in milliseconds.
Pro Tip: Investing in these key aspects ensures a data-driven approach to personalization, setting the stage for enhanced customer experiences and a competitive edge in the market.
Strategy 2: Optimizing Content and Collaboration for Personalization Success
To truly connect with customers on a personal level, you must offer them something valuable—be it a coupon, an informative guide, a how-to video, or a downloadable link. This valuable offering revolves around content. Leveraging customer experience data, you can craft, deliver, and refine personalized content tailored to specific market segments. However, achieving this level of personalization requires a robust content production machine that seamlessly integrates every stage of the content lifecycle.
a) Make assets and insights universally accessible
As you scale your content for personalization, efficient creative asset management becomes crucial. With a myriad of assets available, ranging from logos to videos, finding the right message becomes challenging. A centralized content hub accessible to all teams ensures quick access to the necessary content. This hub should also incorporate version control, ensuring everyone uses the latest and most effective assets, thereby driving cost savings.
b) Enhance discoverability with automated metadata
Establishing an organized hub involves populating metadata automatically, minimizing wasted efforts and redundant work. By keeping insights open to everyone, teams can measure content performance at the asset level, gaining valuable insights that inform future content creation.
c) Create dynamic content for maximum conversion
The goal of content is conversion. AI enables the creation of dynamic content that adapts in real time to customer actions, behaviors, and needs. Personalize email content, tailor promotional offers, and serve customized content blocks on landing pages based on customer preferences or past purchases. Implement behavior-triggered notifications, such as in-store promotions, through SMS.
d) Activate content anytime, anywhere
After assembling dynamic content, the next step is delivering it to the right destination—website, mobile app, social media, digital sign, IoT devices, etc.—at the precise moment the customer desires it. Activating the most relevant content at the perfect occasion transforms engagement into profits. Empower your content production machine with technology to deliver dynamic content in real time via API across the entire customer journey.
e) Infuse collaboration in the content lifecycle
With the hybrid work model becoming a permanent fixture, collaboration needs new modes. A work management system connects projects to strategic imperatives, allowing teams to collaborate from anywhere. Centralizing work provides every team member with a comprehensive view from strategy to results, fostering clarity and agility. Integration with creative tools accelerates work velocity without compromising compliance or quality standards.
Are you crafting your personalization plan?
Strategy 3: Deliver Better Journeys
Customers today encounter brands through various channels, from stores and online platforms to apps, emails, and social media. Navigating these channels requires marketers to orchestrate seamless and personalized experiences throughout the entire customer lifecycle.
a) Orchestrate a Seamless Experience
Coordinating customer journeys in real time across multiple channels is crucial for sustained engagement. Omnichannel orchestration, the ability to create cohesive experiences across web, mobile, email, chat, SMS, and more, ensures customers seamlessly transition between interactions. Managing personalized omnichannel journeys becomes complex with diverse tools, but a unified interface simplifies the process. This allows for real-time personalized interactions and scheduled audience-based messages from a single platform, catering even to non-technical users.
b) Show Them You Care Again and Again
Building customer loyalty involves continuous personalized interactions. From the first interaction, maintaining a personalized approach for guests, subscribers, buyers, and others throughout their lifecycle is essential. Leveraging technology, such as a customer data platform (CDP), provides a comprehensive view of the customer journey. This platform integrates data securely, incorporates AI for segmentation, orchestrates marketing messages, and guides customers through both physical and digital channels.
c) Don’t Make Them Wait for Personalization
Given the average person’s eight-second attention span, reacting to behavioral data in real time is crucial for delivering better journeys. AI and machine learning come into play here, predicting customer actions and providing personalized recommendations and content at scale. Speed is the essence, and leveraging technology allows brands to meet customer expectations promptly.
d) Never Stop Learning
To refine personalized experiences, A/B/n testing is indispensable. This method, testing multiple variations of content and experiences, helps identify what resonates best with customers. Choosing a testing tool that accommodates numerous variations and includes a visual experience editor streamlines the testing process. Continuous learning from testing outcomes enhances key performance indicators and overall business outcomes.
Strategy 4: Transform Your Organization and Operations for Personalization at Scale
Achieving personalization at scale requires a strategic overhaul of your organization and operational capabilities.
a) Gain C-suite Support for Long-Term Success
Personalizing the customer journey for millions demands time and commitment. Building capabilities across channels is a journey that might span years. The critical factor here is top-down support from C-suite executives. These leaders play a pivotal role in aligning strategies with enterprise business goals, securing funding, and advocating for organization-wide transformation.
b) Forge a Strong Alliance Between CMO and CIO
The synergy between Chief Marketing Officers (CMOs) and Chief Information Officers (CIOs) is the linchpin of successful personalization. CIOs are the architects of the technology enabling personalization, while CMOs craft personalized experiences powered by that technology. A close partnership between these leaders ensures agility in adapting to evolving customer expectations and needs. A shared vision translates into more creative, agile, and innovative customer experiences.
c) Foster Cross-Functional Collaboration
Effective collaboration must extend beyond the C-suite and permeate throughout the organization. Unfortunately, recent surveys reveal a gap in collaboration between marketing and IT teams. Senior executives and their teams need to work collaboratively to execute personalization strategies. Regular check-ins, open communication, and breaking down silos are essential. According to Adobe’s 2022 Digital Trends report, 65% of senior executives feel there is more work to be done to break down silos created by organizational structures and competing KPIs.
d) Establish a Governance or Center of Excellence Team
Empower a dedicated team of business and tech executives to spearhead your digital transformation. This governance or center of excellence team takes charge of mapping out the strategy, prioritizing capabilities, developing a business case, and crafting a step-by-step implementation plan. They are instrumental in restructuring business processes and identifying organizational changes required to usher in personalization at scale.
Final Words
Learn how NextRow lets you deliver personalized experiences to each customer with Adobe Target Services! We provide Personalize and optimize customer experiences with Adobe Target. Roll out the best-tailored experiences to the audience with A/B testing, multi variance testing, user behavior, and personal recommendations with our proven strategies.
