October 10, 2018
The State (and Future) of Digital Marketplaces
Not all mobile e-commerce apps are created equal. Some are go-to destinations, while others are opened once…and then never again. Actually, more apps fall into this “one & done” trap than those that don’t. Is yours one of them? Keep reading.
One culprit is the fact that there’s nothing compelling enough to make consumers come back. When it comes down to it, the in-app and push messages that brands send to consumers can either make or break their impressions and emotional attachment to the brand as well as their desire to browse, sign up, and/or buy. In a sense, compelling messaging is the one thing standing between the brand and a future customer.
“Compelling” comes down to two things: personalized and contextual. If the messages don’t encompass these, the brand will fail to win the attention (read: wallets) of consumers and thus stand out in a sea of competitors. Consumers can always migrate away and find what they need elsewhere. As a result, conversion and retention are common issues, but B2C marketers have yet to change their ways to permanently address them.
The problem is that marketers are (still) relying too heavily on modern marketing technologies that help them to only reach consumers. They’re failing to get on board with newer, next-gen technologies—those technologies that can help them to actually engage consumers all the way through to conversion.
Artificial intelligence (AI) is at the helm of these next-gen technologies that are helping marketers to actually attract consumers and turn them into loyal, brand-loving patrons and app users for the long haul. AI-powered marketing automation in particular helps marketers send messages to consumers that are personalized, contextual, relevant, and timely. This is a stark contrast to older marketing technologies that are focused on reaching a lot people but do so with generic, batch-&-blast-style messages…which don’t work to make your brand memorable nor make consumers feel connected.
Consumers today are expecting a much more sophisticated, personalized experience with a brand, and if a brand isn’t delivering it, they have plenty of other places to go. That’s why it’s imperative that modern retail and e-commerce marketers get on board with new technologies like AI-powered marketing automation before it’s too late. Brands must refocus their marketing efforts on delivering nothing but hyper-personalized messaging with the goal of forging a personal relationship with every single one of their consumers. The good news is, this is possible today…and at scale, thanks to AI.
AI isn’t just a buzzword. It’s creating undeniable business results for consumer brands looking to turn around their app and marketing efforts.
Take TickPick, an online ticketing marketplace, which was recently named by Inc. 500 as the 90th fastest-growing private company in the U.S. Using Kahuna’s AI “smarts” to drive messaging development and deliver decisions, TickPick is able to meet its consumers’ expectations of a highly personalized experience every time. The platform ingests data pointing to each person’s preferences and behaviors and then uses those insights to only serve them messages with the most relevant, customized content and at the time and on the channel they prefer. As a result, TickPick has overcome its conversion and retention challenges, achieving a whopping 29% increase in conversion campaign revenue as well as an incremental 33% increase in new user registrations. Overall, TickPick has achieved more than 100% revenue growth YoY since inception. If that isn’t “true business impact,” I don’t know what is.
But this isn’t all. Take this opportunity to dive deeper into TickPick’s case study and learn exactly how AI made a difference in other areas of the business, too. Simply click the button below!
A Bi-Weekly Newsletter Focused Exclusively on Online Marketplaces