Few businesses have a clear idea of each web visitor’s intention or historical behaviour. Such factors are essential in effectively converting them into customers, says Ryan Urban, chief executive at BounceX
If you walked into a particular clothing store for the first time and a salesperson immediately asked you for your e-mail address before you could continue browsing, you would be likely to leave.
This person is not only interrupting your shopping experience, but they also have no idea what you want. It would probably be better for them to leave you alone, let you browse, get some insight into what you’re looking for and then approach.
So, if businesses are not supposed to make such mistakes in the real world, why are they doing it in the digital space? The answer is that it is really hard to know what people want online.
Any good marketer knows that to be successful they need to pay attention to the cues of the customer. They need to find them, attract them and get to know them, so they can give them what they want. But how do they give them what they want, if they don’t know who they are?
They can use behavioural marketing. This is a new channel based around the principle of identifying previously unidentifiable website traffic and enabling businesses to target their traffic on a people-based level.
The primary objective, and the key function of behavioural marketing, boils down to identifying and profiling anonymous website visitors
With behavioural software, businesses can identify and address the friction points in the conversion funnel as visitors experience them in real time, both on and off a website, ultimately driving incremental revenue and increasing return across all marketing channels.
The primary objective, and the key function of behavioural marketing, boils down to identifying all website traffic, particularly anonymous prospects. This can be accomplished with a single, but very powerful, identifier and the best one is the e-mail address.
Through this, people-based behavioural profiles can be created and linked to a specific e-mail address, allowing businesses to track consumer behaviour across any device and channel, and at any moment in time.
Each behavioural profile is a representation of how an individual has interacted with the business – the actions they took while on the website and their method of engagement with e-mails and advertisements, including opens, clicks, browsing patterns, disengagement reviews read and so on.
This empowers marketers with the ability to create customised experiences that are reflective of the individual and their preferences, rather than having a one-size-fits-all approach.
Finally, businesses have the ability to decode the intention of customers. Whether they are just browsing, have a high intention to convert or are returning customers, behavioural marketing and people-based marketing allow businesses to adapt digital experiences based on what each customer wants.
As a result, marketers are able to reduce the friction points that exist on the path to conversion and execute true one-to-one communications that are based on customer intention. This approach creates a ubiquitous marketing command centre for any marketer looking to enhance their digital spending and truly impact their bottom line.
All this is possible with the technology from behavioural marketing companies such as BounceX. Recently named the fastest-growing software company in the United States by Inc. magazine, BounceX has been able to create the behavioural marketing blueprint that has proven to be a top-performing channel for some of the largest enterprises in the world, including Lufthansa, Comcast and Hearst Magazines.
According to a study conducted by Forrester Consulting on behalf of BounceX, businesses that have adopted behavioural marketing see returns of more than 11 times their investment.
People-based behavioural marketing is the evolution of technologies that enables marketers to capitalise on and monetise the customer experience. It is essential to the future of online commerce.
To get started with behavioural marketing, visit BounceX.com/Raconteur