We take it personally: Marketing today is about building relationships

in #marketing6 years ago

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It is clear that customer satisfaction emerges, above all, from the interplay of powerful networks, attractive content, user-friendly devices and seamless services, prophesied Stefan Koetz, chairman of the board of the communications technology group Ericsson. However, it is impossible to ignore the paradigm shift that was brought about by new technology that enables marketers to analyze consumers’ behaviour and engage them in personal relationships with brands. Today, marketing is all about automation, Big Data analytics and personalization.

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Contrary to popular belief, marketing automation is not a completely new phenomenon, neither is it just a fad or a meaningless buzzword. In fact, marketers have been dealing with the personalized automated approach to customers for decades.

However, the terminology for marketing automation has changed over the decades: At the beginning it was largely reffered to as “Database Marketing”, later known as “Direct Marketing” and “Dialog Marketing”, while today marketers mostly prefer the terms “1:1 Marketing”, “Individual Marketing” and ”Personalized Marketing”.

And as technology advances, so does the sophistication of marketing automation and personalization. However, even though the technology has changed fundamentally over the decades, the principles still match those of the first marketing days.

”We're now connected to 3 billion people online, with access to virtually anything we desire right at our fingertips. For marketers, this creates an unprecedented formula for customer engagement," writes Jenna Gross in Forbes.

Just like today’s cars still resemble the first four-wheeled vehicles from the 19th Century and, just like those, need a steering wheel for steering, the foundation is still the same in marketing. We often hear that with new technology and the possibilities for personalization and automation, marketing has reinvented itself. Not really – it’s still about people and products and the way to bring them together. Only the engine looks a little different and the performance has changed. However, innovation is key for keeping up with new consumer demands and market conditions.

Innovation in marketing

Adding a personal touch enables the formation of authentic relationships and it is well-worth the effort: studies have shown that a personalized interaction during the buying process increases customer satisfaction and sales. If the marketing activities of a brand come off as impersonal and emotionless, they’d better do something about it.

Customers today place completely new demands on the products and services of a company. They also expect intelligent and timely communication that suits their needs and personallity. That is why innovations such as BehaviourExchange are not just neat bussines ideas that will make their creators and stakeholders a lot of money: they are a necessity for a better, more efficient Internet of tomorrow.

The BehaviourExchange platform uses sophisticated AI-based software to analyze Big Data, create user profiles and adjust the content of any website according to the predicted interests, wishes and needs of a visitor in real time. User data is securely stored in a blockchain network and transactions are carried out using a dedicated utility token called BEX.

If we return to the new vs. old car analogy: BehaviourExchange is still a vehicle, but unlike the old car, it is a lot more streamlined, attractive and – it can fly.

Follow BehaviourExchange on Facebook and keep up with the progress!

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