Event-driven marketing makes it all relevant

Marketers have a challenge on their hands: The public that they need to reach and convince to buy is increasingly using PCs and laptops, mobile devices, and social platforms to decide when and where to shop. That puts enormous pressure on brands to understand the changing nature of exactly why, where, and how customers make buying decisions.

And it isn’t just thechanging nature of customer loyalty. With the arrival of smartphones and Big Data technologies, the amount of data available is increasing. As the data grows, it is becoming more diverse in source and structure, and accumulating faster than ever before.

Data Carries Events

Smart brands realize data isn’t just discreet bits of information. Data carries a series of occurrences (and non-occurrences) that technologists call “events.” These events are more than transactions and include anything that has meaning to the brand.  Events can be historical or immediate, one-at-a-time, or in correlated occurrences (as this event-driven marketing whitepaper and webinar explain).

Analyzing events in aggregate reveals patterns that are equally meaningful and were previously invisible to the naked eye.

Events are Relevance

It has never been more promising or challenging at the same time to pay attention to events. There is relevance “gold” in events that includes the ability to understand very specific factors:

  • The customer’s immediate context – Is it daytime or nighttime? Where are they? Is there an open retail store nearby? How is the weather?
  • The brand’s immediate context – What inventory do I need to move? Where are my hottest items located? What is my competitor offering?
  • The customer’s historical context – What level of fan is the customer? What do they typically buy? When do they buy?
  • The brand’s historical context – What are my sales patterns for this type of customer? What do I normally sell in this weather or time of the year?

Relevance is Everything

Understanding the customer comes down to the ability to follow the precursors to a buying decision and understand the sequence of events as they happen. Event-driven marketing is the ability to know each discreet thing that leads up to a purchase and to be able to anticipate when and how to react as those events play out.  The ability to anticipate and react at just the right time is the true meaning of marketing relevance (learn more on right-time marketing in this webinar coming up on 7/18).

These are exciting times to be a brand in a fast-evolving customer and technology landscape. Are you ready to be relevant?

This first appeared on the Loyalty Lab blog and has been lightly edited.

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Tags: , ,

Categories: Loyalty, Marketing, Patterns / Rules / Events

Author:Jeanne Roué-Taylor

I'm fascinated by disruptive technology and its impact on our world. I manage sales operations for an excellent startup with a unique team of highly experienced data scientists.

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