Interview with Daniel Hagos, Regional Client Success Director, Emarsys
What are the top 3 things that a company must do to prosper?
- Effective acquisition: too many companies are focussing purely on growing their database without thinking about who their ideal customers are. Understand who your ideal customer is and then using that profile to find similar customers is much more effective and efficient than focussing purely on numbers.
- Drive loyalty and retention: increasing competition has meant that the cost of acquiring a customer keeps going up. Balancing this out with retention marketing strategies is essential to keep customers engaged, loyal and improving the cost of acquisition.
- Create a conversation: showing customers that you are human, that you appreciate their business and value them as a customer is essential. Not enough businesses simply say Thank You to their customers.
What transformations have you seen in your business that have had the most impact in the last three years?
Initially at Emarsys we were focussing on personalization of content: how can you ensure (as a marketer) that your customers are seeing the most relevant product/content for them and how can this be applied in scale. Over the last few years, we’ve expanded the understanding of the customer so that online browsing and purchase behaviour (RFM) are more accessible as data points for segmentation. This has been essential. It’s meant that we understand the real challenge that a company might have (do your customers only buy once? Do you acquire a lot of leads that never convert) but it can also improve the intelligence of a campaign so that promotions and content are based on each individual customer. Artificial Intelligence Marketing is our current area of focus but it’s essential we move away from the buzz-words and focus on the reality which is to improve the decision-making process marketers go through whilst continuously increasing customer engagement.
How are you keeping up with the changing demands of the consumer?
We have our clients who have demands but also their customers (the consumer) so in a way there’re 2 parties to consider. First and foremost, marketers must remember that they are consumers themselves and take that into consideration when planning their marketing strategy. As a consumer, what is it that you like and what is it that you hate? I always ask myself and my colleagues what customer experience they enjoyed and I use my own experiences as direct examples for clients. It annoys me when I receive campaigns saying “You might be interested in a holiday in Bali?” after I’ve already booked a hotel, so I make sure my clients don’t do that! I always advise our clients to not just look at their industry, but also look at what other industries are doing well and then think about how they can apply that to themselves. Grana (I love their emails) do great work at promoting the quality of their products (which I also love), and I’ve suggested this to non-fashion companies that are focussed on quality products as a good example.
Most importantly, I always think about what the customer lifecycle looks like for a consumer and how marketers can support customers at these stages. Simply asking consumers what they want isn’t enough (often they don’t know). Putting yourself in the consumers shoes is much more important.