The Rising Need for On-Demand Marketing
The Rising Need for On-Demand Marketing
Marketers and brand gurus everywhere – brace yourselves! Business has just found yet another way to become a whole lot more personal. The essence of on-demand marketing utilises the power of digital interconnectedness to make itself more appealing to a specific customer. Not all customers, but a single, unique customer. In a growingly competitive market, this will be the edge to make a difference between success and failure.
The element of time
On-demand marketing tastes much like espresso coffee – smooth, effortless, and with a powerful kick. This is a natural and a needed response to a growingly impatient customer pool whose primary goal is to spend less time finding solutions.
Our fast-paced, modern life has shaped our expectations and our loyalty to the point that every second matters. To illustrate this, a 7% decrease in the conversion rate can be caused by that single second. Shoppers will turn their back on a brand if they are unhappy with the performance of their website.
“This leads to a single second accounting for over £1 billion in lost annual revenue.”
Now imagine a brand that has a slow-loading page, complex check-out process and a less than ideal social media response time. These are just a few out of numerous relevant time aspects of a brand’s communication. On-demand marketing is the next step in the digital evolution. Designed to single out those who can survive in an oversaturated, constantly changing environment, and weeding out those who cannot keep up with the ruthless pace of the game.
The element of space
Unimposing and simple engagement options seem effortless from a customer’s perspective. And while it’s designed to look and feel precisely like that, the road to achieving this level of intricate connectivity is extremely challenging.
Presence, both online and offline, is another game-changer for marketers who base their strategies on customer’s place of engagement and purchase. Marketers now mostly focused on bringing the brand to every device possible. While this is now a given, on-demand marketing has reshaped the notion of a touchpoint.
What used to be an independent network of unique opportunities to connect, buy and engage, has now become an intricate web of predictive, intelligent options. Apps, devices, stores, emails campaigns, websites, reviews, social media, and telemarketing efforts have all come together to form a single touchpoint. Through these touch points, consumers can now connect with a brand from virtually anywhere at any time.
Scanning a QR code or using near field communication (NFC), a potential customer can seamlessly go through a process of selection and purchase within moments.
The element of possibility
The integration of when and where your customers can interact with the brand now opens a whole new window of opportunity for them to go beyond their regular experience. On-demand marketing efforts strive to predict the needs of the target audience. They also aim to overcome any potential roadblocks and tailor a customer-specific journey.
Digital banking is already yesterday’s news. Your bank can now send an alert to your phone if your balance is getting low. If you have a question, you can expect an almost immediate response on the bank’s Twitter page.
“Marketers today are delving deeper into the “what can’t we do” to find the gaps and loopholes in their interaction with the customer, as opposed to what can we do”
Look at First Direct. This bank has done things differently, consistently, from day one. As a self-proclaimed platypus of the banking world, they persistently maintain a customer-oriented structure. Their presence is solely online. Phone communication is available 24/7 and there’s no waiting in line. No wonder it was the last year’s winner for the best customer service provider in the country.
Brands that behave like First Direct succeed in retaining customers. They also have a well-developed media monitoring practice, showing yet another way that customer-orientation matters. They know the value of social media.
The element of surprise
With customers’ growing expectations comes the even greater challenge of staying ahead of the game. If they already have such a detailed idea of what they want and need, how can you offer them something they don’t already expect?
Mastering the element of surprise is one of the key aspects of on-demand marketing. Based on all the personal data marketers now have access to, they can introduce small and seemingly insignificant changes to your strategy that make major changes in your customer future behaviour and retention rate.
While the minority of your target audience used to be considered as “needy”, now most of them can be described as such due to the changed communication climate. Your efforts can be as simple as offering corporate gift cards upon contract renewal and yet effective enough to boost your retention rates by 30%.
This is where personalisation comes into play as a crucial factor that will tip the scales in your favour when your potential customer is about to make a decision. The purpose of these efforts is not merely to sell – marketers have gone well past that point in this era. Now it’s all about relevant information, better performance and customised options to accommodate every individual.
That’s why your social media accounts, search habits and your mobile phone data serve as invaluable sources of feedback marketers can use to adjust their communication, service and pre-emptively solve problems before they even arise.
If you’ve purchased a fitness tracker, you might be offered free nutrition advice, motivation articles and a chance for your story to be featured on the company’s website to inspire others. Yes, this will potentially boost their sales, but all that extra post-purchase effort stems from the desire to maintain a reputation, make a difference and customise the experience based on your unique needs.
The customer-brand continuum
In the expanding universe of communication between a brand and its followers, the crucial element that keeps reshaping this relationship is the purpose. Every action, decision, new channel of communication, new idea and need on both ends is purpose-driven.
This single element has given rise to on-demand marketing, which is at the forefront of discovering new ways to express this purpose. That’s why it has made room for perpetual research, experimentation, testing that go above and beyond traditional brand communication.
It allows for a cycle of mutual creation, as the efforts of on-demand marketing approach shape the future of the market and its needs, and the customer unwittingly provides direction for the currents of communication.