This is an excerpt from our eBook, How to Use Consumer Insights to Improve Your Fulfillment Process & Gain Brand Loyalty. Download the full version here.
AI and IoT Eases Business Model Transitioning
The ongoing COVID-19 pandemic has kept consumers settled at home and tapped into technology. With Nielsen Ratings forecasting average media consumption rates to rise up to 60%, optimization of e-commerce platforms are more essential than ever before. More screen time means more opportunity to connect with your target market. Having the right tools to do so, combined with a good strategy can save both time and money.
The New Normal
Businesses across the globe are changing in order to remain present as everything quickly becomes reliant on the digital world. How to properly target individuals in a time like this has become a question many are eager to have an answer to. Augie Ray, VP Analyst from Gartner stated, “Among marketing’s greatest challenges is foreseeing how customer wants, needs, expectations, and purchasing decisions will evolve.” However, waiting for these needs to become explicit will leave you a step behind. Business owners have turned to AI and the IoT to help find answers. In this ebook, we'll explore how brands can leverage post-purchase insights, consumer engagement and automation to improve competitiveness during uncertain times.
What You Can Do For Your Business
Use technology to get a head start on understanding your consumers and get the right product to the right consumer at the right time. As commerce has transitioned to majority e-commerce, now is the time to take advantage of new technology.
40% of businesses said personalized marketing messaging has helped them significantly
during this time, up from 15%.
If products are unavailable, 40.55% of consumers said they would turn to less familiar brands. Only 17.5% choose to sign up for restocking updates.
When asked about continued use of an online grocery service after the pandemic ends, 43% said they were extremely or very likely to do so.
Your company can utilize this data to make significant improvements to your customer service tactics, productivity, and overall business model. Brands that act on these statistics by utilizing post purchase data analytics software will not only grant long-term success for your business but long-term loyalty from your customers.