Does Your Brand Have ESP?
Remember when personalization was the coolest thing in direct marketing, and we couldn’t wait to cash in on the increased ROI from writing customers’ names in the clouds and detailing their transaction history in letters, PURLs and email copy?
And then personalization became commoditized and we all tried to find the next big rush to higher ROI. For many that is retargeting, or monitoring individuals’ Web activities and placing ads about recent interests on random pages.
Even with privacy concerns, behavior tracking seems to be working wonders. We consumers seem okay to see ads on our Facebook page about products we just abandoned in a shopping cart or on a Google search page moments later. Consumers of all ages seem unfazed by such monitoring and retargeting activities that Baby Boomers might call Big Brother and Millennials call Big Data!
Regardless of whether your customers are in the Big Brother or Big Data generation, personalization through retargeting is the most effective way to build sales today. Right? Or maybe not so much?
According to Andrew Shebbeare in an article published on AdExchanger, retargeting is not the end-all answer to incremental sales. In fact, retargeting might be more of a waste than a bonus as most predictive analytics tools recommend products the shopper is likely to buy at some point, anyway. So marketers could be spending big money to get sales they’re poised to get anyway.
Thankfully, we still have transactional data that drives incremental sales by restating specific aspects of a customers’ relationship with our brand in our marketing communications. That’s still working, right? Or could it be traditional data systems based on transactional or browsing histories miss a key driver in consumers’ decision processes?
To me, that missing key driver is ESP, and I’m not talking that sixth sense or psychic ability to detect paranormal behavior. I’m talking about another ESP — emotional selling propositions — or messaging about the emotional vs. functional value of a product, which have helped me achieve anything but “normal” results, including triple-digit increases in revenue and response rates. However, the trick is finding technology that truly gives you that sixth sense about which emotions drive behavior, and then enables you to personalize messages accordingly during the actual purchase process.
Jeanette McMurtry is a psychology-based marketing expert providing strategy, campaign development, and sales and marketing training to brands in all industries on how to achieve psychological relevance for all aspects of a customer's experience. She is the author of the recently released edition of “Marketing for Dummies” (Fifth Edition, Wiley) and “Big Business Marketing for Small Business Budgets” (McGraw Hill). She is a popular and engaging keynote speaker and workshop instructor on marketing psychology worldwide. Her blog will share insights and tactics for engaging B2B and B2C purchasers' unconscious minds which drive 90 percent of our thoughts, attitudes and behavior, and provide actionable and affordable tips for upping sales and ROI through emotional selling propositions. Her blog will share insights and tactics for engaging consumers' unconscious minds, which drive 90 percent of our thoughts and purchasing attitudes and behavior. She'll explore how color, images and social influences like scarcity, peer pressure and even religion affect consumers' interest in engaging with your brand, your message and buying from you. Reach her at Jeanette@e4marketingco.com.