People send billions of emails every day. Americans alone watch, on average, over a thousand minutes of television every week. Social media attracts billions of users every month. And, of course, all of these communication and entertainment mediums have served as marketing solutions. They provided new channels practically from the moment of their inception.
While marketing isn’t anything new, the way that companies market has always shifted with the times. The modern, forward-thinking 21st century has proven to be a particularly fertile time for marketing creativity.
In fact, we live in an era marked by analytics, tech stacks, and a continual state of marketing evolution. Even within this state of perpetual transformation, some brands handle the development better than others. In fact, many develop a reputation specifically due to their ability to set the pace of change.
Here are a few companies that are leading the charge when it comes to adapting marketing to the needs of modern consumers.
1. Retention.com is addressing abandonment revenue.
Cart abandonment is an ongoing struggle for e-commerce providers. Countless customers enter online sales funnels, learn about products and services, commit halfway to a purchase, and then leave a site.
When an online visitor abandons their cart before they become a paying customer, one of two things happens. On the one hand, they are anonymous individuals. This leaves a company with no recourse for follow-up marketing. On the other hand, they have established entities and have created accounts, provided email addresses, or otherwise made themselves known to the company they are considering patronizing.
Obviously the latter is preferable. And yet, with things like third-party cookies going away, it’s important for companies to capture first-party data to make this possible. This is information consumers willingly provide to a business in exchange for a more personal or streamlined shopping experience. Retention.com is one company that is making it easier for businesses to collect this critical data and use it to, in the words of the brand, grow abandonment revenue.
Retention.com’s industry-leading Identity Resolution technology enables e-commerce businesses to quickly and painlessly onboard visitors to their site. This gives them the information needed to follow up on abandoned carts, send browsing-specific emails, and otherwise increase revenue from those who failed to make an initial purchase — all within the bounds of the new, privacy-first online environment.
2. Virgin America capitalizes on entrepreneurial customers.
Marketing applies to every industry. However, that doesn’t mean all marketing options need to be one-size-fits-all solutions. On the contrary, modern technology has opened up the doors for new marketing tools to create niche solutions for specific industry marketing needs.
Virgin America embodies this focused marketing concept. The company is the only airline that is based out of Silicon Valley, and its marketing approach is as creative as its hometown’s reputation. The airline’s VX Next initiative is a great example of this.
The program consists of roughly 30 frequent flyers who happen to also be entrepreneurs. These form an incubator of sorts that generates ideas for the airline. One of the most famous of these is an in-flight social network designed to help travelers connect and collaborate, even in transit.
Virgin America worked with Here on Biz to develop the app that powered the marketing initiative. The result is a tool that meets active customer needs, draws them in, and provides real-world value, naturally promoting the airline in the process.
Most modern marketers are willing to utilize tech to develop cutting-edge strategies. Others seek customer feedback. But it takes a one-of-a-kind level of creativity to combine these two elements in entrepreneurial ways that break new ground in the marketing sector.
3. Optimove takes personalization to the next level.
There are many ways to apply artificial intelligence in marketing. Some companies use it to analyze massive quantities of data and create more personalized target audiences. This makes scaling easy — but there are other uses of machine learning, as well.
Optimove is a large customer relationship management hub that applies AI throughout the CRM journey. For example, the brand’s email tool applies the AI email marketing concept to individual audiences. The program uses all of Optimove’s data and insights to deliver hyper-targeted emails to customers. This includes everything from basic customer database information to predictive analytics, AI recommendations, and activity tracking.
The result is a tool that can send specific, personalized emails without the need for excessive oversight. In effect, this gives each person on an email list a personal digital agent that is watching over their file. The program fine-tunes things over time to ensure that each email matches customer preferences, behaviors, and feedback as much as possible.
Optimove’s predictive modeling tool is another example of innovative marketing AI in action. Once again, this leans on important pieces of information, such as a company’s DNA, historical data, and key terminology. A team of data scientists assembles this into a customer model that isn’t just industry but business-specific.
The Evolving World of Marketing
Marketing is one of the few constants in the ever-changing world of modern business. No matter how markets evolve, the need to promote products and build brand awareness remains.
However, in spite of its holding power, even marketing has to adapt to the changes taking place around it. In this ever-developing atmosphere, even the best marketers can’t rest on their laurels or hit cruise control. They must discover new paths to remain relevant.
Companies like those marketing solutions listed above are finding ways to integrate the latest tech advancements into their marketing strategies, ensuring that they get the most out of each promotion and initiative, both now and in the future.