The Buyer’s Journey – AIDA
There are Many Marketers who might argue that the “old skewl” interpretation of the Buyer’s journey is no longer relevant.
There may be other steps between awareness and final conversion that have to happen before a prospect decides to “close the deal” and purchase one of your solutions.
I have no argument with that fact. But when you break down each step in the conversion funnel to the minute, what you are actually seeing is the AIDA process reoccurring over and again, until a sale is made.
Then starting over again as you try to generate customer loyalty and interest in other solutions on your product menu. Your ultimate marketing objective is to create raving fans. But that doesn’t always happen.
It definitely seems like marketers always want to make things seem harder than they really are.
When Sky-Net finally takes over, we’ll look back and realize, The greatest advances in marketing science and technology in 2020 was the rise of artificial intelligence.
Artificial Intelligence is packaged and sold in many different forms in today’s market. Smart Chatbots, Identity scrapers and site visitor identification are all in their relative infancy. But the estimates for the size of the AI market go well beyond $50 Billion in 2021.
You can deploy AI effectively in your marketing in one of many forms. But the biggest takeaway today is that if you are not using smart marketing business intelligence to drive sales of your products in 2020, you’re going to be falling behind the power curve. Having made that bold prediction, here are 8 reasons that you should be using Artificial Intelligence in the form of Target Market Mapping in your business right now:
Increase Buyer’s Journey Conversions and Sales
Ultimately the objective of all of your marketing activity, Target Market Mapping provides a distinct competitive advantage for companies who have access to an Identity Graph, Identity Resolution and Behavioral Tracking.
Identity resolution allows us to identify your ideal prospect avatar as an individual. Using a tracking code that captures their identity on a permanent record. Identity resolution allows us to perfect our intelligence at every step of the buyer’s journey.
Tracking prospects across 5 billion websites, millions of keyword searches and as they consume content, allows us to anticipate a buying decision.
By processing all of this data and improving our machine learning, along with information we collect on our own DSP.
We can predict both when and where a purchase is going to be made for your solution, or one that competes with yours.
Prospects don’t even need to visit your website for you to know that they’ve come in market for a solution that you provide.
We are turning anonymity into full disclosure of identity, across multiple email addresses and devices.
Across IPs from their home network to their work location. Across physical addresses. Even tracking the amount of time that you spend inside a store.
Each of the categories of AI data improvement that follow are summarized in the increase in Sales conversions.
Having an intimate knowledge of your customer is not a suggestion for increasing sales conversions. It’s a requirement. Identity resolution allows you to collect data about your target market, allowing you to understand a precise buyer persona. Your marketing team will gain a clear insight to your prospect’s buying journey. A Marketing Sherpa case study revealed a 171% increase in marketing attributed revenu for a company using buyer persona insight.
Content Creation and Optimization
Simply installing sha 256 technology on your website and buying access to an identity graph does not mean you can ignore the entire nurturing process along the buyer’s path. We may know more, but we still have to lead our prospect to the next step down the buyer’s journey.
With Behavioral tracking integrated in your marketing system, you will be able to identify the research path that your ideal prospect is taking along the way to a final buying decision.
You will see what information your market is consuming on your site, as well as on your competitor’s sites. So you’ll know where you need to bulk up your content whether it’s at the top, middle or the razor’s edge of conversion on your order form.
Behavioral tracking helps optimize your content based on key insights and analysis of the prospect buyer’s journey. You can determine which content is working with social feedback.
Seamless User Experience
Buyers are looking for instant gratification. The quality of interaction and engagement that a prospect experiences with your company is pivotal. Whether before, during or after conversion.
Your customer experience can be the difference between building customer loyalty or scoring a one-time sale. A Salesforce “State of Marketing” guide reported that 52% of consumers are more inclined to change brands if a company doesn’t offer personalized communication. Identity resolution allows you to personalize communication from the first in market touchpoint.
Social Media Reach
Identity resolution enables full disclosure of personal data, whether a prospect provides a form fill on your website or not. The hash file you will receive on a daily basis includes all of the data that you need to target your prospects on any social platform.
The hash even is platform agnostic, portable and with our Demand Insight solution, permanent. You don’t have to rely on the identity graph of a powerful 3rd party provider like facebook or google anymore.
Whether you’re working on a month end deadline or your annual sales plan, your sales forecasting will be improved immeasurably by the implementation of Payback’s Target Market Mapping solution by Demand Insights. Identity Resolution means you no longer need to question whether or not a prospect is ready for a discussion. You can tell by the insights provided by behavioral tracking.
WIth Target Market Mapping in place, you’ll know what your customers are thinking, saying and feeling about your solution in real time. You’re able to harness the real-time data and modify your message for maximum effectiveness.
Integrating Identity resolution, Behavioral Tracking and machine learning enables the delivery of the right message, to the right person, at precisely the right time to influence a buying decision.
Optimize your Cost Of Sales
Behavioral tracking allows us to identify buying behavior on an individual basis. WIth the abundance of buyer data buried in keyword searches, social platforms and other attainable online data, you can more efficiently manage your marketing resources.
You can generate human level intelligence with machine processing speed. So you can analyze results faster, and dedicate resources to tasks that are producing measurable results. And stop spending money and time on effort with no return.
Final Takeaway And Next Steps:
With AI poised to continue growing across industry segments, The time to begin testing Target Market Mapping is now. Here’s a short 4 minute video (no opt-in required) that describes the technology.