When we talk about optimizing transactions we’re not just referring to the exchange of money. We care about every interaction an individual has with a brand – checking out the website, shopping in store, opening the app, engaging over social media. Each one of these customer touchpoints is an opportunity for a brand to deliver added value through optimization. The more data collected on an individual through various channels, the more insight brands have into what each customer wants, and the more experiences can be personalized to achieve the best possible results.
The transfer of money is just one example of a (very functional) transaction. When it comes to optimization we’re interested in everything around that transfer – influencing behavior, promoting upsell, encouraging repeat visits, building loyalty, incentivizing in-store activity. Check out the videos below for an introduction to optimizing different types of transactions.
Optimizing for excitement
We’re interested in how digital insights can help create experiences that get people hyped – how we can make people feel good about a transaction, and how that then impacts their relationship with (and from a business POV, value to) a brand. Handing over $20 and receiving change just doesn’t have quite the same potential for excitement as shopping for a wedding ring or planning a dream holiday.
Ultimately, the key to brands maximizing real-world results is not just engaging customers through e-commerce or m-commerce, but knowing what gets people through the doors – and what gets them excited about buying things while there.
Online to offline connects digital insights to real-world results
Online to offline commerce (O2O) is a trillion dollar opportunity, with big benefits for brands that can connect digital activity with real world results. Which customers saw an ad online and bought the product in store? Who redeemed an offer on their phone and then bought additional items? What’s really working in real-world, real money, terms?
Just as online brands use a wealth of accumulated data to personalize content to individuals (Netflix is just one example), offline transactions can be personalized and optimized by using digital insights. Sure, creating the O2O connection may be trickier than simply using a tracking cookie – that’s the reason platforms like Plexure exist after all – but the principle is the same: collect data, personalize experiences, profit.
So when it comes to optimizing real-world transactions using digital insights the question brands really need to ask is: does this lead to a sale? Creating awesome, rewarding experiences is obviously a must these days, but for all but the most altruistic brands the ability to translate awesome experiences into revenue is what really matters.
To answer this question accurately brands need a mass of information on every marketing activity, every customer action, and any contextual data that might impact on the transaction. Measurement is key, as is the ability to use that information to optimize and influence future marketing efforts. Here’s a quick overview of how we make this happen for our customers.