Does Your Brand Have ESP?
Finally, we’ve arrived. New technology can track individuals’ specific interests and emotions while they are shopping, enabling us deliver personalized messages that are relevant to both their conscious and unconscious minds in real-time, while they are shopping — not just thinking about it. This alone is taking ROI to a whole new dimension.
According to Ari Ginsberg, co-founder and CMO of Cognilyze, an e-commerce personalization system, when marketers use data to trigger the likes, wants and needs of the unconscious mind, they can get sales they would not have otherwise. By appealing to psychological thought processes that occur in our subconscious, marketers can create interest in products completely unrelated to those currently being browsed and considered, and thus get true incremental, or unplanned sales.
“By taking a very different approach to big data and sales, we can show consumers products they did not even know they wanted or needed, and generate sales retailers would have otherwise have missed out on,” says Ginsberg. “We do this by assigning an emotional value to a product, not a person.”
Huh? Emotional attributes for products? Instead of showing products like socks to buy with new running shoes which has become expected, Cognilyze’s system analyzes the emotional values of the products a given shopper is browsing. It then quickly identifies products with like values that have been assigned by Cognilyze’s research team, and shows the shopper these products, as well. It could be as counterintuitive as showing a consumer shopping for a couch a car seat for a baby. Not at all related in terms of function or style, but very much related to the emotional values of creating a safe and comfortable setting for a family. As Ginsberg says, this approach is so effective at generating valid incremental sales it could be disruptive to the entire big data industry.