The use of advanced analytics and new digital marketing have had a major impact on the way consumers shop.
Latin America has established itself as a high-growth market for digital sales, with high smartphone penetration, a thriving startup and unicorn ecosystem, and an increasingly connected population. These positive balances are supported by the 13 million people in the region who in 2020 made their first purchase online, as well as transactions of nearly US$85 billion made through digital media in the region in 2021. Moreover, in this context, consumers are demanding greater personalization. Seventy-five percent of all Latin Americans adopted new digital habits in 2020, and now seek unique and personalized content, experiences and products.
Digital sales are growing at a fast pace. 40% of consumers switched completely from “analog” brands to digital options and the impact is proven, digital channels represent a sales increase of 2 to 6 times and reduce acquisition costs between 30% and 70%, increasing customer satisfaction.
Launching a digital marketing campaign by itself is not enough, it is essential to know customers better, to reach them at the right time and through the right channel.
The “magic” of personalization:
Today, digital sales require the integration of different tools to achieve success, especially when it comes to large-scale businesses. For example, retail companies and banks need to strengthen their capabilities and resources to accelerate personalization.
The challenge is to process large amounts of consumer data in a truly effective and automated way. To this end, the use of advanced analytics has been key. This methodology uses predictive modeling, machine learning algorithms, deep learning, business process automation and other statistical models to analyze large amounts of information from a wide variety of sources. Digital sales requires the integration of different tools to achieve success.
Advanced analytics is the brain, while digital campaign tools are its arms: both parts must act in concert to deliver true customer value, but that’s not always the case. For this reason, Pulse makes it easy for you to achieve your digital marketing goals with a comprehensive strategy, tailored to your company and the needs of your target audience in order to facilitate the processing of customer data to personalize marketing campaigns and thus define what will be the best offer, the best price, the right channel and the right time to launch it, and, in this way, optimize the digital sales impact of your business.
Results of personalization:
Recent global figures demonstrate the effectiveness of this methodology: 10% to 20% increase in revenue, as well as making it possible to attract more prospects, increase pricing accuracy, drive deeper engagement, and improve customer loyalty and satisfaction.
These points have a real impact on many digital customers. With this model, it has been seen how clients who already had advanced analytics implementation see their business grow by 5 times, while those who are just starting out grow up to seven times, in addition to reducing time and costs substantially.
The importance of personalization
The use of advanced analytics to personalize the consumer experience allows, above all, to generate end-to-end value, as well as scale. Of course, its use must go hand in hand with robust digital marketing to create effective campaigns, built with digital expertise and focused on growth. In this sense, strategy, execution and measurement are essential. In this way, it is possible to improve the customer-facing solution, lengthen its life cycle, and ensure digital sales with greater impact.