The global spread of the coronavirus already has caused significant disruptions in supply chains, corporate profits, economic growth and government policy. No one knows how bad things will get before they get better, but marketers need to be prepared. Certain industries are more likely to be significantly affected as people shun travel and large gatherings: airlines, cruises, events of all kinds (perhaps even the Tokyo Olympics), business conferences, hospitality, and even retail venues. Supply disruptions also could affect sectors ranging from auto manufacturing to high tech to promotional products. A general slowdown could cut advertising spend initially, but experts believe it is more likely that there will be a reallocation of dollars to cater to quarantined or self-isolating consumers via mail order, digital marketing and e-commerce product sales; via online video and gaming options; and even via streaming of sports events instead of stadium venues. In a recent blog, AI and data tech company Appier suggested tactics to leverage this rise in online consumption, for example by using online data to identify coronavirus concerns and deliver targeted relevant content and advertising via keyword segmentation, which is especially relevant for health, wellness, medical, and sanitation sectors. Companies can also develop more branded online apps, games, and videos to compete for the expanded online audience. Plus, it will be important to use AI and audience data for contextual targeting and proper placement of advertising to avoid creating a negative brand impression. Because companies may face logistical delays, they need to commit to transparent multichannel communications on product shortages and estimated delivery times, as well as timely response to questions and complaints, advises Appier. At the same time, increased engagement via website, e-mail, social media, push notifications or in-app messaging can bring customers closer and help reduce frustration levels. Appier also stressed that marketers need to set the right messaging tone for an anxious audience, avoiding the hard sell in favor of customer and community support. In a PR Week interview, Priyanka Bajpai, regional head, Southeast Asia, SPAG Group, promoted the company's 3E approach to messaging during the crisis: Empathy to show cautious optimism and trust in the future ability to work together and find solutions; Engagement of internal and external stakeholders to inspire confidence; and Education using multiple channels to outline the criticality of the situation and steps taken by the brand to support stakeholders. Brands may also want to highlight corporate social responsibility efforts such as nonprofit donations to address the pandemic but should avoid marketing around those donations. For more, see our website blog at https://www.acculist.com/managing-marketing-during-the-coronavirus-crisis/
David Kanter, President and CEO of AccuList, is a list brokerage and direct marketing expert. For more than 30 years, he has helped companies and nonprofit organizations achieve their marketing goals. With David's Direct Marketing Forum, he shares, and invites others to share, helpful direct-marketing industry news, trends, analyses, resources, and tips for success. Please read our Comment Policy.
Showing posts with label AI. Show all posts
Showing posts with label AI. Show all posts
Wednesday, March 4, 2020
Monday, February 3, 2020
Mobile, AI Trends Impact E-mail Marketing
E-mail marketers can expect to ride some positive trends into 2020, according to e-mail pros. While continuing to top other channels in terms of ROI, e-mail marketing in 2019 also showed improved delivery rates, rising open rates and increasing click-through-rates, per UK-based Data and Marketing Association. Digital marketing platform Smart Insights recently turned to several experts to find top strategies to help leverage the positives this year. The impact of mobile usage on e-mail can't be underestimated. In 2019, mobile browsing (53% of traffic) surpassed desktop/tablet browsing (47% of traffic), notes Smart Insights. And while mobile still lags in terms of purchase revenue (32%) versus desktop/tablet (68%), it's growing fast, with a 23% year-over-year increase that has helped accelerate mobile optimization across digital channels. Data from Litmus shows that mobile devices also led in e-mail opens (41.9%) compared with desktop opens (18.2%) by Q1 of 2019. Coding e-mail creative for a mobile-viewing format is only the beginning. Changes to copy, images and overall layout can boost click-through by streamlining presentation to place the focus on quick engagement and CTA links, note experts. Concise copy with enough white space for easy reading is a first goal. Other tips include using image dimensions that are small enough to render well and placing images on the "first fold" to encourage scrolling. Using e-mail design with short copy not only leads to quick scanning but also allows the call-to-action (CTA) to be seen early and avoids excess scrolling that loses click-throughs. Finally, make sure that e-mails are rendering correctly across all types of devices, a testing option offered by most e-mail service providers. Artificial Intelligence (AI) is coming of age in marketing, including e-mail campaigns, with 87% of current AI users say they are planning on using it for sales forecasting and e-mail campaign enhancement, per Statista. Connext Digital foresees seven ways that AI will begin to influence e-mail marketing: 1) applying algorithms and data insights for predictive personalization; 2) analyzing demographics, purchasing patterns and online behavior for smarter segmentation; 3) automating workflow for e-mail triggering, tailored messaging and lead nurturing; 4) using natural language technology to find the best words for response optimization of subject lines and CTAs; 5) improving e-mail timing and frequency by specific recipient;6) A/B and multivariate testing to quickly identify trends and develop predictive results; and 7) developing data to enhance broader analyses, for example to predict potential churn. Privacy regulation is another factor for e-mail. Cold e-mailing, spamming and phishing have tainted e-mail’s reputation among consumers (and marketers), but recent privacy regulations, including the European Union's GDPR and California's CCPA, have spurred the e-mail marketing world to go beyond CAN SPAM to focus on privacy, compliance and subscriber trust. See our full website post at https://www.acculist.com/mobile-ai-highlight-e-mail-marketing-trends-for-2020/
Wednesday, January 29, 2020
Personalization, Privacy Drive 2020 Data Strategies
Multiple data issues face direct marketers in 2020, starting with data privacy. While many of our U.S. clients are not affected directly by the European Union's General Data Protection Act (GDPR), U.S.-based consumer-data privacy efforts have now resulted in the California Consumer Privacy Act (CCPA), with more legislation on the horizon. Meanwhile, omnichannel data personalization has become essential for targeted response and ROI. Companies face complicated decisions when combining first-party data collection, user-level data from the big digital platforms (Google, Facebook and Amazon) as well as second- and third-party data in ways that balance consumer privacy with smart (and customer-demanded) personalization. A post in AdExchanger by Briggs Davidson, a senior manager at Deloitte Consulting, outlined some key steps for coping. He advises starting with a focus on the customer in collecting, organizing, storing, and activating data across all silos that may need to meet data-privacy compliance. When it comes to first-party data, prepare to shift marketing strategies to ensure consumers have a reason to share their data, delivering value to build trust. Davidson predicts creation of data clean rooms, or a separate analysis space for combining first-party data with platform-level customer data under strict privacy controls. Regardless, marketers will need multidisciplinary teams as well as partner collaboration. Meanwhile, prepare for hyper-personalizaton to drive marketing, according to European digital platform firm Qualifio, which found that 83% of marketers say creating personalized content is one of their biggest challenges. Why? Because personalization now requires: 1) new tools to collect and analyze first-party data for compliance with data privacy regulations like GDPR and CCPA; 2) an omnichannel purchasing journey and analytics for a single customer view; 3) incorporation of new technologies such as voice search (50% of Google searches are expected to be voice searches in 2020); and 4) meeting rising customer standards for personalized promotion and service. In fact, 70% of the customers surveyed want an immediate response to their questions or complaints, which is fueling artificial intelligence (AI) and machine learning (ML) initiatives. This means data quality will be even more key. A Forrester Consulting July 2019 report revealed that while 82% of companies place a high priority on refining data quality, more than a quarter of all marketing campaigns were hurt by substandard data in the last 12 months. Plus, a majority of marketers launching artificial intelligence (AI)/machine learning (ML) initiatives (78%) say these projects have stalled—with data quality as one of the culprits for 96%—according to a new study from Dimensional Research. CMO Kristin Hambelton, of Marketing Evolution, urges marketers in a recent Forbes magazine post to take these basic steps for improved data quality: 1) prioritize data quality and create a comprehensive initiative on data verification, collection and cleansing policies; 2) define and verify high-quality data in terms timeliness, completeness, consistency, relevance, transparency, accuracy, and representativeness; 3) organize disparate data sources with unified marketing measurement for a holistic customer view. For more, see https://www.acculist.com/personalization-and-privacy-trends-highlight-need-for-data-strategy/
Tuesday, November 26, 2019
For 2020: Clean, Personalized, Predictive Data
As 2019 closes, marketers have a year's worth of multichannel customer, campaign and sales information to analyze for 2020 plans. So what are the big data trends that will maximize ROI? Clean, up-to-date, quality data is still the basis for effective marketing. So start by monitoring data for issues such as duplicates, missing information or bad records to figure out how and where they are occurring. Then standardize processes at each data entry point. Next validate the accuracy of data via data tools or expert data services. Identify and scrub duplicates. Once data is standardized, validated and de-duped, improve its analytic value with third-party data appending. Establish a feedback process to spot and update/purge incorrect information, and communicate standards and processes so all teams understand the value of clean data in segmentation targeting, lead response, customer service, etc. Meanwhile, the 2019 Martech Conference highlighted other trends, such as the role of data in personalization. Expect to see increased use of Artificial Intelligence (AI) and machine learning (ML) for personalization. For example, for more personalized acquisition, ML can recognize if people from certain areas are more likely to respond to a specific offer or which past high-response special offers may resonate in future. When personalization is combined with elimination of data silos and creation of a single customer view across channels, marketing becomes especially powerful. Indeed, data integration and elimination of data silos are key to the growing "agile marketing" trend, which breaks down team silos to focus on high-value projects collectively. Marketers should also boost use of predictive modeling. Why? A study by ClickZ and analytics platform provider Keen found that 58% of marketers using predictive modeling experienced a 10%-25% ROI lift, while another 19% saw more than a 50% uplift. While retroactive campaign data can be very useful, it’s not as good at informing future multichannel directions. Standard data analysis often mistakenly gives most credit to last-click channels such as search or transactional activities. The Keen/ClickZ survey found marketers using predictive modeling boosted results in multiple areas, including better understanding of the target audience (71%), optimizing touchpoints on the customer journey (53%), and improving creative performance (44%). For more detail, see https://www.acculist.com/prep-for-2020-marketing-with-clean-personalized-predictive-data/
Thursday, November 7, 2019
Event Marketers Bet on Data, Tech, Personalization
For AccuList's trade show and conference marketing clients, the good news is that, even in a digital world, live events and face-to-face experiences retain their power, with over 40% of marketers saying live events are their most important marketing channel. Plus, event marketers have more tools (and challenges) as they move into 2020. A post by marketing guru Michael Brenner for Marketing Insider Group cites a number of technology trends that event marketers can use to boost attendance, engagement and ROI, including artificial intelligence (AI) for everything from ticketing and sales to personalized promotions and automated event follow-up; augmented reality (AR) and virtual reality (VR) for immersive and engaging experiences; and interactive video. Meanwhile, as marketing technology provides access to real-time event data, many marketers find their biggest problem is being overwhelmed by a flood of data, ranging from audience attraction (website visits, social media clicks, registrations); on-site engagement (RFID metrics, mobile app engagement); post-show follow-up (attendee opinions, costs, ROI); and auxiliary data (CRM, membership data, attendee interests). The key to prioritizing and analyzing, notes event marketing and tech agency Freeman, is to 1) centralize, standardize and integrate data; 2) decide on goals (such as attendee satisfaction, exhibitor ROI, or reduced attendee and exhibitor churn); and 3) define the metrics that best measure achieving those goals. Based on analysis of attendance or exhibitor patterns, marketers can then segment data lists for better targeted response and ROI. For all marketing channels, personalization is the new requirement. As Brenner’s post notes, because they believe it’s so effective at increasing event marketing ROI, 9 in 10 event planners use some form of personalization. His article includes a useful infographic from a 2017 Eventsforce study on the ROI of personalization which shows that not only do 73% of event planners believe that personalization and data-driven marketing are a priority but 89% personalize event invitations via names, content and links; 71% personalize event communications via e-mail content and landing pages; and 58% personalize registration via different forms for different audiences. As far as collecting the data needed for personalization, the most effective tools are rated as registration systems (84%), CRM/marketing systems (62%), surveys (29%) and event apps (29%). For more, see our website blog post at https://www.acculist.com/data-technology-personalization-top-event-marketing-trends/
Wednesday, July 31, 2019
2019 B2B Marketers Embrace Analytics, ABM, AI
A new report based on business-to-business marketing data from Salesforce Research, Forrester Research and the Information Technology Services Marketing Association shows how technically sophisticated top-performing B2B marketers have become in order to woo today's demanding clients. "B2B marketers are increasingly using a mix of account-based marketing (ABM), artificial intelligence (AI), and analytics to connect the right customers with the right content at the right moments," concludes B2B Marketing Trends: Insights From the Frontline released in June. For example, today's business buyers demand personalization: 69% of business buyers expect companies to anticipate their needs, and 60% of business buyers are comfortable with companies applying relevant personal information in exchange for personalized engagement. B2B marketers are not quite up to speed yet, however, with only 46% of B2B marketers reporting a completely unified view from customer data sources. This is true even though most marketers agree that personalization improves brand building (92%) and customer advocacy (80%). Account-based marketing (ABM) programs are collaborative efforts between marketing and sales teams, and high-performing B2B marketing teams are much more likely to collaborate effectively on ABM programs (54%) compared with under-performing marketing teams (34%). Among B2B marketers using ABM, the ABM programs now account for more than a quarter of their total marketing budgets. Why? Nearly half of ABM users say the programs deliver higher ROI than comparable marketing methods: 77% of ABM users are achieving 10% or greater ROI, and 45% of ABM users are seeing at least double ROI compared to other marketing methods. Meanwhile, because 69% of business buyers expect personalized "Amazon-like" customer experiences today, AI usage among B2B marketers grew 23% in 2018, with the majority using AI for facilitating online experiences with offline customer data, driving next best offers in real time, to improve customer segmentation, creating dynamic websites and landing pages, and personalizing overall customer journeys, as well as other goals. For more data and a link to download the report, see our full blog post at https://www.acculist.com/research-shows-abm-ai-analytics-drive-b2b-marketing-success/
Wednesday, May 15, 2019
Use Tech and Data Trends to Spur Fundraising
Innovations in data analytics and technology offer some potential boosts for 2019 nonprofit fundraising. Consider trends highlighted in this spring's Nonprofit Technology Conference in Oregon. For example, nonprofit tech pros reported success using Digital Wallets, such as Apple Pay, Paypal and Google Pay, to make donating easier for donors and to increase conversions. AI and chatbots are another boon cited by tech experts, not just because they free up staff from time-consuming interfaces but because they can be used to segment audiences and tailor communications to boost donor acquisition, value and retention. Meanwhile mobile text messaging and mobile giving not only continue to grow in use, but nonprofits are learning to leverage SMS to trigger response, scale donor relationships, and engage and motivate communities more fully. Online giving continues its growth path, but there are now more online giving services and their offerings are expanding. For example, Give Lively has free online fundraising tools for text-to-give, peer-to-peer, events, and integration with social media platforms such as Facebook. Finally, virtual-assistant voice services have entered the fundraising arena; for example, Amazon's Alexa now can help donors verbally contribute up to $10,000. But for tech innovations to be effective, quality data and data analytics for targeting are essential. Data can combine with real-time marketing automation, triggered e-mail series and variable data printing of personalized direct mail for improved donor acquisition and retention. And nonprofits don't need to vacuum up every bit of big data for better results. The key is to collect and track the information in the donor database, or to select the key response factors to target in prospect lists, most likely to lead to success. Beyond the basics of name, address/contact, gender, age and date and amount of last donation, data targeting can be enhanced with parameters indicating donor capacity (the ability to give) and donor affinity (the willingness to give), as a recent Philantopic blog post advises. Indicators of donor capacity include personal income/wealth measures, real estate ownership, business title, stock ownership, etc., while donor affinity parameters include the RFM (recency, frequency, monetary) of the donor or prospect giving history, past relationship/interest in a specific cause or affiliated appeal, and political affiliation and giving. Of course, a good database policy also includes regular hygiene and updating, and an ongoing check for knowledge/data gaps. For questions to ask to avoid costly data knowledge complacency, see our website blog post at https://www.acculist.com/tech-data-trends-spur-2019-fundraising-opportunities/
Wednesday, May 8, 2019
Latest Data Proves Direct Mail Is Alive & Well
Some marketers theorize that "direct mail is dead" about as often as "Game of Thrones" fans theorize about the fate of favorite characters. So for all current and future direct mail marketers, here is the latest proof that direct mail is alive and well, and still a key direct marketing tool. For example, the U.S. Postal Service reports that revenue for the first quarter of fiscal 2019 (October-December 2018) was up 2.9% to a $19.7 billion total over the same prior-year quarter. A decline in First Class Mail dollars and volume was more than offset by Marketing Mail’s 4.9% increase in revenue, up by $218 billion, and 4.8% bump in volume, up by 1 billion pieces, combined with Shipping and Packaging revenue growth of 8.7%, up by $516 million, and a 5.4% volume bump, up by 93 million pieces. Why is direct mail still thriving in a digital age? We’ve reported it before, but it bears repeating: The 2018 DMA/ANA Response Rate Report shows an average direct mail response rate of 9% for house lists and 5% for prospect lists, stellar rates compared with response rates of 1% or less for e-mail, social media, paid search and display ads. In fact, lower mailbox volumes actually have helped turbocharge mail response in an era of digital promotional bombardment. Consider that, each day, an average of 107 e-mails per person are received globally and an average 63 ads per person are viewed, but only an average of two pieces of mail are received per person. It’s clear which channel gets the audience attention and why 75% of households read or scan their direct mail ad materials daily, per a USPS 2016 study. Not only was direct mail the top purchase influencer among Baby Boomers, per a 2015 MarketingCharts study, but even younger, digitally addicted generations are fans of direct mail. According to USPS studies, 77% of Millennials pay attention to direct mail advertising, 90% think direct mail advertising is reliable, 57% have made purchases based on direct mail offers, and 87% of Millennials say they like receiving direct mail. Direct mail works for an even younger group of consumers as well: 69% of 18- to 24-year-olds prefer reading print and paper communications over reading from a digital screen, per paper-producer Sappi. Direct mail work so well across generations of consumers because it has some key advantages. In an age when trust in advertising is at a minimum, 76% of consumers say they trust direct mail when they want to make a purchase decision, and trust it more than digital channels, per a 2016 Marketing Sherpa study. Direct mail is also more engaging, memorable and persuasive, per neuroscience studies. In fact, a 2015 Canada Post neuroscience study of direct mail found that direct mail’s motivation response, its persuasive power, is 20% higher than digital media’s motivation response. Finally, direct mail can harness multi-channel databases to machine learning/AI, variable data printing and behavior-based triggers to produce timely, highly personalized messaging. For more, see our onsite blog post at https://www.acculist.com/latest-data-shows-direct-mail-is-still-alive-well-and-effective/
Wednesday, May 1, 2019
Digital Data Fuel Publishers' Subscription Growth
For business periodicals to grow audience via direct marketing, good digital customer and prospect data is now essential. Consider a case study from The Economist, named one of the eight best business magazines of 2019 by The Balance reviewers. It isn't only content that makes The Economist stand out. It's a data-based audience-building strategy that has quadrupled subscription revenue over the last three years. Facing challenges in growing subscriber and advertising revenue, The Economist contracted with a customer data platform, Lytics, to shift from a print-focused to a digital subscription strategy based on customer data management, per a recent What's New in Publishing (WNIP) post. For example, the publisher used data analytics to create content hubs, or individual pages that display digital content based on a reader’s interest for particular news topics. Tactics also included displaying offers based on the reader’s subscription status and predictive engagement score, meaning their likelihood to subscribe, derived from other readers with behaviors like theirs. In addition to a 4X bump in The Economist subscriber revenue, the data-centric effort decreased cost per acquisition by 80%, tripled digital subscriptions, and increased time-on-site and engagement measures. The development of ongoing and adaptive customer profiles using machine learning allowed for individually tailored and timed advertising and engagement strategies, such as predicting when a reader is more receptive to certain kinds of advertising or content, or when subscribers were likely to stop visiting or subscribing. The Economist is not alone in embracing a digital subscription and data-management publishing model. The New York Times used similar strategies to boost digital subscriptions and revenues last year via AI-based data tools, analytics and segmentation. Data-driven strategies generated more than $709 million in digital revenue in 2018, with online subscription revenue up nearly 18% from 2017 and digital advertising up 8.6%. Out of its 4.3 million paid subscriptions for digital and print in 2018, more than 3.3 million people paid for its digital products, a 27% jump from 2017. For more, see our onsite blog post at https://www.acculist.com/digital-data-feed-publishers-subscription-growth/
Wednesday, April 24, 2019
Personalization Is Key to 2019 Insurance Marketing
Personalization has become a mantra for all direct marketers, but it is especially relevant in insurance marketing. According to an Accenture 2018 study, 80% of insurance consumers are willing to share data to get more personalized offers, messages, pricing and recommendations from auto, home and life insurance providers. Although over 70% of insurance marketing campaigns claim to use some personalization, surveys show marketers are not doing enough to satisfy that customer demand. As a result, marketers can miss out on personalization's proven power to improve response and ROI, lower acquisition costs, and enhance cross-selling. While digital data often leads conversations, the importance of personalization in traditional direct mail, still an insurance workhorse, should not be ignored. After all, direct mail is considered more personal than digital by 69% of recipients, giving personalized content extra power. Direct mail also gets an average 9% response rate for house lists and 5% for prospects, per 2018 DMA/ANA data, compared with 1% or lower for other channels. Plus, for the digitally addicted, adding direct mail to digital bumps up conversion by 28%. A recent article on insurance marketing from agency Ballantine advised on top ways to maximize mail ROI, and, no surprise, personalization dominated—assuming clean, up-to-date mailing lists with important targeting parameters. First, marketers can use variable data printing and database parameters to personalize content and images to match the consumer's life stage, so, for example, auto policy creative targeting a young single first-time car buyer differs in messaging and images from the creative for an older couple with a minivan. Next, marketers can personalize rates by taking into account factors such as the age and gender of the targeted recipient. And they can tap personal interests by leveraging affinity relationships, such as a specific sports team or association affiliation, via targeted discounts. Personalization should then continue through the customer journey. Marketers can study the sales funnel to find when leads are most likely to drop out so that processes can be simplified, streamlined and further personalized to boost conversion. Simple examples include pre-filled forms and postage-paid return envelopes. Meanwhile, One Inc., an insurance software company, offers a helpful roadmap to digital personalization. As with direct mail, marketing begins with quality consumer data and analysis, taking a step beyond age, gender and location to parameters that identify unmet needs and customer value for targeting and prioritization—such as a recent move, a new home, a new baby or an upcoming policy expiration date. Next, marketers need to track lead and policyholder actions to decide on the specific digital behaviors that will trigger a personalized response, say following up an online request for information with a series of lead-nurture e-mails. Then, marketers can design and test small campaigns before expanding to more channels and audiences. Once strategies and processes have been developed and tested, an investment in marketing automation technology can follow, including AI algorithms using real-time data and behavior to tailor offers, customer service, cross-selling, lead scoring and more. For more on personalization in insurance acquisition and retention, see our full blog post at https://www.acculistusa.com/personalization-is-now-key-to-insurance-marketing-roi/
Tuesday, March 19, 2019
AI, Data, Culture Impact Incentive Products Trends
Incentive and recognition products marketers should take a look at The Incentive Research Foundation’s “IRF 2019 Trends Study” for tips on where the market is headed this year. With economic growth and optimism strong, companies are continuing investment in incentive and recognition rewards, with considerable room for market expansion for product suppliers: 84% of businesses are now using non-cash rewards, but past studies show close to 60% of merchandise and gift card rewards are still sourced through retail versus specialized agencies or providers. One factor pushing the recognition market is the trend to “talent culture” creation by C-suite executives, with “The Incentive Marketplace Estimate Research Study” finding more employers than ever offering non-cash rewards aimed directly at building relationships, encouraging inclusion and knowledge-sharing, and promoting engagement. Why? IRF’s studies as well as academic research are finding that when executives combine economic incentives with recognition and well-designed non-cash rewards, they promote “corporate citizenship” behaviors and work environments that attract and retain top talent. So overall use of merchandise rewards is expected to increase, per IRF, particularly among corporate audiences, with a net increase of 33% compared to a net 20% of suppliers and third-party providers. The use of logo’d brand-name merchandise dominates, with 75% of corporate programs using these items as rewards. Other popular rewards are electronics (63%) and clothing/apparel (59%). Meanwhile, gift cards continue to be a popular option within reward and recognition programs, with open loop cards (that can be used anywhere) and brand-specific cards both enjoying high utilization, and e-gift cards gaining momentum. Of particular note, IRF's most recent study urges reward program designers and suppliers to understand how predictive analytics and AI are changing the market: "In the incentives field, predictive analytics and machine learning are helping program designers understand who is drawn to which types of rewards, and how those rewards should be shaped and presented to produce the best outcomes on an individual basis." For more, see https://www.acculistusa.com/ai-data-talent-culture-boost-incentive-recognition-impacts/
Thursday, March 7, 2019
Fundraising Challenged by Gen Z, E-mail, AI
For nonprofit fundraising, 2019 will be another challenging year. Successful direct marketers will need to adapt to changes in demographics, technology and donor targeting, to name just a few trends recently cited by the Donorbox Nonprofit Blog. For example, Donorbox is sounding the alert ahead of the next demographic wave. While the Millennial generation is still the biggest cohort in the workforce, Gen Z is arriving. Born after 1996, they now make up an estimated 27% of the population and will account for 40% of all consumers by 2020. How are they different? The "2017 Global Trends in Giving Report" found that Gen Z members are interested in giving to many different causes, especially those involving youth, animals and human services. But to win the attention of these digital natives, messaging must be concise and engaging, offering an immediate experience that cuts through the marketing noise they routinely filter out. Gen Z is also the first mobile-only generation, so website, e-mail and donation forms must all be optimized for mobile. Meanwhile, remember that today's donors expect a personalized, targeted approach that takes into account demographics, giving history, etc. That means segmenting donor and prospect lists for specialized messaging to account for generational differences and other demographics. It means tailoring the "ask" to the prospective donor's income and giving history. It means refining giving/donation pages to highlight projects and wording that will resonate with the target donor group. E-mail is a channel that can be easily personalized, and despite its recent bad rap, a revisit of e-mail strategy is worthwhile. Research shows that donors willing to donate through e-mail rose from just 6% in 2012 to 28% in 2018. Second, low-cost e-mail has an ROI of 122%, much higher than direct mail, social media and paid search. Finally, fundraisers need to make more use of Artificial Intelligence (AI), perhaps by creating a chatbot to interact via messaging services like Facebook Messenger, Slack, Telegram, etc. to handle donations, register members and distribute information about programs and services. AI also can personalize donor journeys based on real-time behavior to encourage contributions and can weaponize data for more cost-effective donor development. For example, a donor's giving and volunteering history, event attendance, affiliations, relationships, and data from wealth screening tools can all be analyzed to predict a potential donor’s likelihood to give a major gift. For more, see our website blog at https://www.acculistusa.com/fundraising-challenges-include-gen-z-e-mail-ai/
Wednesday, January 9, 2019
Are Your Fundraising Plans Ready for 2019 Trends?
Nonprofit marketers making final tweaks to fundraising plans for 2019 may want to do a quick survey of this year’s top trends as identified by fundraising pros to make sure they are ready for all challenges. NonProfit PRO magazine cites three general 2019 trends that will affect both traditional direct mail and digital fundraising via e-mail, mobile, social media and website. First, nonprofits should include a commitment to story-telling in this year’s fundraising communications, the magazine says. Stories create an emotional connection to the mission and are remembered better than facts, studies show. NonProfit PRO urges creation of a story-telling culture via leadership buy-in, a mechanism to regularly encourage and gather stories, a story-banking method and regular and consistent story communications. “Personalization” is another marketing mantra for 2019, with success requiring clean up-to-date data and list segmentation to craft targeted messages for direct mail and e-mail. Finally, put that targeted story-telling into a video format to maximize results in a year when video is projected to represent 80% of Internet traffic. Meanwhile, the Nonprofit Tech for Good blog identifies some key digital trends to include in 2019 fundraising plans: 1) increased use of marketing automation software to create personalized appeals and individualized pathways and engagement with the general mission and specific programs; 2) more focus on a recurring-gift donor base and commitment to engagement strategies and technologies that nurture donors; 3) more relevant, personalized, contextual messaging based on data technologies; and 4) more disruption by commercial social media players like Facebook via removal of fundraising fees, matching funds and direct access to donor data and AI. The TrueSense Marketing blog came up with a whopping "21 Fundraising Trends and Best Practices You Need to Know in 2019" from a survey of fundraising pros. We’ll only cite a couple here, starting with a prediction that the visually oriented Instagram, which hit 1 billion monthly active users in 2018, including the 50-64 and 65+ age cohorts, will become a more popular platform for nonprofits in 2019. Another prediction is that, with data breaches continuing to grab headlines and a patchwork of data privacy regulations at the state level (such as California Consumer Privacy Act passed last summer), nonprofits will face added costs and changes in data collection and storage policies this year. For more, see our full on-site blog post at http://www.acculistusa.com/is-your-fundraising-plan-ready-for-2019-challenges/
Friday, December 14, 2018
Is Your E-mail Marketing Optimized for 2019 Trends?
E-mail marketing is constantly evolving and AccuList USA tries to keep our e-mail list and e-mail marketing services clients up-to-date on the latest tactics and best practices. A good overview of trends for 2019 was recently supplied in a Business2Community post by Rohit Munipally. The value of e-mail targeting and list segmentation is so clear that it will be a given for smart marketers in 2019. Munipally cites HubSpot research showing that e-mails that are relevantly segmented and targeted account for 58% of all e-mail earnings and increase profits up to 18 times more. When combined with automation, e-mail content power is further enhanced. For example, if a contact hasn’t opened an email for an extended period, they can be dropped from deployments, while a contact who has visited a web page several times or opened multiple e-mails can receive relevant automated e-mails prompting action. In fact, global automated e-mail marketing alone is expected to account for $2.7 billion in spending by 2025, Munipally reports. Watch for acceleration of the trend away from graphics-heavy e-mail designs in 2019. Research shows e-mail users prefer plain text over HTML-style e-mails because plain text e-mails resemble a personal message that would be sent by a family member or friend. Also expect to see interactivity dominate over product display next year. Response data favors interactive e-mails that encourage engagement through quizzes, surveys, games, contests, GIFs, and call-to-action messaging that lets recipients shop, edit an order, update a wish list, send a shipping confirmation, etc. Story-telling also has proved itself as a content-engagement tool. E-mails that begin with a story that grabs the reader and then leads into value and offers are highly influential when delivered to a relevant audience (again underscoring the value of targeting and segmentation). Mobile optimization also will be essential for success in 2019, with 53% of e-mails opened via mobile devices and 75% of gmail users viewing accounts on mobile devices. And since consumers demand content that is relevant and personalized whether viewed on a computer or mobile device, data use must go beyond first-name inclusion to information unique to the account or buyer persona. Plus, next year should see growing use of AI for everything from targeting, subject line choice, image selection, and more. To illustrate the power of AI, Munipally reports that Adobe recently developed an AI technology with a series of sophisticated algorithms based on e-mail campaigns and audience behaviors, resulting in e-mail users opening nearly 80% of work and 60% of personal e-mails. See our blog post at http://www.acculistusa.com/is-your-e-mail-optimized-for-best-2019-performance/
Wednesday, October 3, 2018
Business Trends Drive Recognition & Incentive Sales
AccuList USA recently completed proprietary research on hundreds of top performing lists of employee recognition and incentive product buyers to support clients in a business-to-business marketplace that now encompasses close to 90% of companies. In fact, the 2017 "Trends in Employee Recognition" report from WorldatWork, a nonprofit human resources association, found 89% of surveyed organizations committed to recognition programs, with 65% offering between three and six different programs, from companywide (81%) to individual (69%) to department/team (67%). Certificates and/or plaques remain the most awarded recognition item, at 80% of respondents, followed by cash (55%), gift certificates/cards (45%), company-logo merchandise (40%), and food, such as a lunch or pizza party (39%). For incentive and recognition marketers, targeting can mainly focus on two departments responsible for administering programs: human resources (59%) and compensation (22%). Now, the Incentive Research Foundation's "IRF 2018 Trends Study" offers recognition and incentive marketers more guidance on changing demand trends. For one, predictive analytics, artificial intelligence and augmented reality capabilities will be a "fundamental requirement" for vendors and suppliers looking to partner with incentive professionals in 2018, per IRF. Marketers also will want to push wellness messaging, since more incentive professionals are adding health and wellness components focused on fitness, food, and comfort to their incentive programs this year compared with other features, says the report. And when it comes to merchandise products, incentive buyers in 2018 don't want more choice as much as more "impactful products," such as products with local sourcing or organic roots and products that can be easily personalized and customized. The desire to build a brand-asset culture around intangibles, such as innovation, as well as traditional assets is one factor pushing these non-cash awards in 2018, notes the report. On the other hand, gift cards will continue to gain momentum this year, according to the IRF, which says mid-size firms spend an average of nearly $500,000 annually on gift cards across all programs, while large ones spend over $1 million annually. Finally, although incentive travel makes up a small part of the recognition pie, the incentive travel industry's net optimism score for the economy is up almost 20 points from 2017 in the IRF report, leading to budget increases despite rising costs. For more on top incentive trends, see our website blog post at http://www.acculistusa.com/2018-recognition-market-tech-partnering-wellness-non-cash-awards/
Wednesday, May 23, 2018
Tech Energizes Trade Show & Conference Marketing
AccuList USA has long experience in helping trade show and conference marketers with targeted lists and data services. But we also support an expanded event marketing approach that goes beyond promotion to engage audiences at every touchpoint in a multi-channel world, as a recent post for the Trade Show News Network (TSNN) blog promotes. Luckily, that is easier than ever thanks to emerging event technology trends. Any event pro not using social media to the fullest is missing a key tool in building audience per TSNN's "Top 10 Tech Trends" by Matt Coyne, Technology Engagement Architect at GES EMEA and a 10-year veteran of the events and exhibitions industry. By making it easy for registrants to share their attendance with their own social media networks, marketers can amplify an event and reach new potential attendees that can't be reached directly. Social media can also work in tandem with traditional channels, as with our Digital2Direct tool matching postal records to Facebook users for targeted social ads. Just as important as the boost in registrations is the increase in registration-to-attendee conversion driven by social media engagement, Coyne adds. Digitized content is then the engagement tool that creates an interactive event experience, building repeat attendance and luring prospects via social sharing. For example, Coyne cites the growth of devices like "Smart Badges," which act as a digital briefcase for attendees to collect digitized content. And tools like Facebook Live increase the dissemination and sharing of digital content. Digitized content also can be leveraged with gamification to increase event participation, say by awarding points for Smart Badge usage with exhibitor contacts, speaker downloads, session attendance, etc. and then posting competitive results. AI is another way to help expand attendee experiences; an example is the use of chatbot software to answer attendee questions and offer learned guidance. Finally, there are event-specific apps. Although not every event needs to spend for an app, a large conference can benefit from an app that enables visitors to track their schedules or from a dedicated lead-capture app, for example. For more, see the full blog post at http://www.acculistusa.com/new-tech-energizes-trade-show-conference-marketing/
Wednesday, February 21, 2018
Millennials Reshape Event Success Strategies
As the millennial cohort expands event attendance, trade show and conference marketers and performing arts marketers are beginning to change their targeting, messaging and event planning strategies to cater to a demographic that demands technological multi-channel savvy, interest-specific targeting and experiential interactivity. A recent post by UK-based Conference News highlights strategies that event professionals can adopt to woo the millennial audience. While millennials are known for their social media, mobile-phone-addicted personae, studies show that these digital preferences can actually fuel greater live event interest; Conference News cites one survey showing 73% of millennials consider live event attendance as a way to express their beliefs and personality online. But it also means that event planners need to take cues from their digital experiences. Since millennials flock to online platforms that offer a nexus of various interests and connectivity, an event that focuses too narrowly can misfire. Conference News argues for a "multi-faceted event" and cites North Carolina's Moogfest as an example. Moogfest is primarily a music festival, but, in 2016, it added a stage for workshops, installations and discussions of the current political climate. By combining art, activism, food/drink, and activities in one place, it addressed attendees' multiple passions and created more social media fodder and buzz at the same time. Meeting the millennial demand for a multi-faceted event experience can also require going beyond hotel conference rooms and exhibit spaces. In 2017, the demand for non-traditional spaces rose by 3.8%, notes the article. Millennials are technically savvy and expect technically savvy event support. The Conference News article cites three event technology ideas likely to gain ground this year: 1) RFID (radio-frequency identification) wristbands can speed up entry lines and allow purchases without cash or cards; 2) Mobile Event Apps can let attendees craft customized experiences via eased navigation, personalized schedules, push notifications about upcoming activities, and social sharing with other attendees; and 3) Artificial Intelligence (AI) can use chat bots to answer attendee questions and, in coordination with social-media-based event app info, generate personalized on-site recommendations. See the full post at http://www.acculistusa.com/millennial-attendees-reshape-event-success-strategies/
Wednesday, January 17, 2018
Evaluating Martech Buzzwords: Hype vs. Results
Marketers are bombarded by advice on how to seize buzzword opportunities such as personalization, "big data," omnichannel, real-time marketing, and, most recently, artificial intelligence (AI). Those struggling to find room in real-world budgets often worry that they're falling behind in an escalating martech arms race! New research by Resulticks—a survey of over 300 marketing pros across industry verticals—offers interesting perspective. For example, "Big Data" was the hot topic at the 2013 DMA Annual Conference, with 50% of marketers enthusiastic about investing. But making practical sense of those data torrents turned out to be more difficult than expected. Resulticks finds that only 16% of today's marketers have fully implemented big data solutions, 20% have given up on the concept, and just 27% rank big data as a top priority now. Part of the problem is overhyped, underperforming martech platforms, per the survey, with 21% of marketers complaining that vendors overpromise and underdeliver. In contrast, personalization has done better in fulfilling expectations, with 60% of today's marketers reporting full or partial implementation. The only fly in the ointment: Tech investments have not always kept pace with enthusiasm, and only 20% rate their software ability to deliver personalization as "excellent." Back in 2014, many retailers were optimistic about an "omnichannel" approach to create a seamless customer experience across all channels. Resulticks finds that only 9% of today's marketers describe their approach as omnichannel, compared with 63% who use less comprehensive multichannel marketing. Only 35% have fully or partially implemented the required software platforms for omnichannel, and, among those who have bet on platforms, 58% rank vendor execution as "poor" to "fair." There's a better report card for the "real-time marketing" that rapidly uses data across channels for more timely, targeted engagement in the customer journey. Resulticks reports that 49% of marketers rate their real-time marketing ability as "good" to "excellent," that half say they have fully or partially implemented real-time marketing solutions, and that 47% say real-time is a priority for their organizations today. Most recently, social media giants have been betting on AI, and many marketers are following their lead. However, Resulticks' survey finds almost half (47%) of the marketers polled already rate AI as overhyped. Here's a big source of that skepticism: 43% of marketers believe martech software vendors overpromise and underdeliver, and 69% rate their vendors' ability to execute AI as "fair" to "poor." For more, see http://www.acculistusa.com/skeptical-of-marketing-tech-buzzwords-youre-not-alone/
Tuesday, December 19, 2017
2018 Marketers Face Old and New Data Issues
Direct marketers will face both old and new data challenges in 2018. A recent Forbes magazine interview with Tom Benton, the CEO of the Data & Marketing Association (DMA), highlighted six of those data hurdles for next year. The perennial problems of data quality and integration continue, worsened by the huge volume and types of data streaming into marketers. Many are struggling to decide which data sets to use and which to ignore, how to keep data accurate and actionable, and how to integrate new data with existing data. Several practices for 2018 success are suggested: clear business goals and target audiences to narrow the data focus; a clear test case for examining or onboarding data; regular examination of new and legacy data accuracy and value; and systems for integrating new data with existing data, especially given the new types of data streams available–everything from wearable gym trackers to chatbots to grocery checkouts. But 2018 also offers potentially exciting opportunities via new marketing tech tools, such as augmented reality (AR), machine learning and AI. The Forbes articles offers the example of how 1-800-Flowers improved customer experience by integrating the company’s website with artificial intelligence (AI) technology and natural language processing to understand customer demand and then search the product catalog to deliver customized recommendations. Use of AR today ranges from AMC theater movie posters to Simmons Bedding Co. product demos to labels of Australia’s 19 Crimes wine brand. At the same time, marketers face tougher challenges in the areas of data security and privacy rules. If customers don’t trust that sensitive information will be safeguarded, they’ll stop engaging, hurting not only individual brands but the data-driven community. After massive data security breaches made headlines in 2017, data security is a top concern to retain customers and prevent risk in 2018. Meanwhile, American marketers who seek to tap European markets need to get ready for the enactment of the European Union’s General Data Protection Regulation (GDPR), taking effect May of 2018, which will set a tough new baseline for consumer privacy rights. For more, see http://www.acculistusa.com/2018-offers-new-and-old-marketing-data-challenges/
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