Marketing Next Best Action
What is a Marketing Next Best Action? Most importantly, why should a company consider it to increase its business?
Before we talk about NBA, we must first give you an idea of BI (Business Intelligence), so make yourself comfortable, grab a cup of coffee, Italian if possible, and gift your business five with minutes-worth of reading.
BI means a set of business processes to collect and analyze data and strategic information; mores specifically, BI is that massive specific data processing procedure aimed at translating the above-mentioned series of data into useful results for the company (i.e. market research).
Now that I hope you clearly understand what BI is, we can begin our journey towards the Next Best Action.
If I told you that there is a process that allows you to predict what your customers intend to purchase and consequently offer them the desired product, you would probably think that that’s absurd.
On the contrary, dear readers, our Next Best Action allows you to understand and anticipate your customers’ needs, offers products based on their tastes, helps salespeople to provide tailored responses to each individual customer, and finally, aids the development of targeted campaigns.
The customer leaves endless navigation traces along your web portals, focusing on products that might be of interest, placing them in a wish-list or shopping cart. Having the opportunity to acquire this information, regardless of whether you customer proceeds to purchase, would be of great value to allow offering targeted promotions for the customer’s desired products, for example, in the form of newsletters.
E-commerce and social profiles are increasingly becoming digital displays of a virtual shopping reality, and as marketing teaches, the first purchase starts right there: through a process called window-shopping. Imagine strolling on a famous shopping street and focusing on that beautiful dress in the store window, continuing your walk, then getting home, making yourself comfortable on your couch and checking you e-mails to find an offer for that dress! I can guarantee that if you had previously thought, “it’s too expensive, I better not”, a minute after reading that e-mail you will be thinking, “Just what I wanted, I can’t miss out on this offer.”
The situation above seems absurd, but this is not so in the virtual world where every action can be “traced”. Why not embrace progress and make our Next Best Action your Next Best Action?
Be the genie’s lamp that grants your customers’ greatest wishes.