We attended the finance at Google Belgium, and here are our takeaways.
Wishing you all a happy reading!
This is the year of innovation, year that technology is a competitive advantage and the year that consumer wants personalised seamless experience and wants to be amazed.
The world is changing, evolving to things we’ve never experienced before.
– Mobile extreme in Asia
– Voice 20% in the US
– Assistants like Google home or Alexa that are making assistance the new battleground for every company. Especially in banking!
Did you know that 60% of millennials check their balance on their smartphone on the daily. But this is not only true for millenials, the trend will only go up in coming years.
The keyword “best” in front of a query is on the rise, even when it comes to tooth brushes!
A battle we’ve been talking about frequently in our previous posts is speed. Don’t forget 53% of visits are abandoned if website loads in more than 3 seconds.
This means that getting the basics right is more important than ever.
Do you know how much revenue you are losing due to your websites speed?
Check out this website:
Users expect you to be relevant.
Reinventing the value chain: is all about data, targeting customers better, using data for risk optimisation,…
But when it comes to value proposition: people want everything in one place, they are used of getting this from amazon. We are used to look at the core, but customers want more than that, they move beyond.
Customers want one stop shops, is this possible for every industry?
When it comes to insurance companies, for example, we ask ourselves if it’s possible? What exactly do customers want? Is there even a benefit for insurance companies?
Luckily the answer is YES, they are open to ecosystems and YES insurance companies are good potential providers.
A concrete example when it comes to cars: it’s not only insurance, it’s buying the car itself, the maintenance, or even what about when I have an accident,… these are all the things people think about. As an insurance company can you offer a service that takes into account all these things? And bottom line break the silos,…
Today companies are asked to reevaluate what they offer their customers.
Every interaction with a customer provides an opportunity.
The interactions can take on many different forms (store, website, call, social media,..)
You need to listen to your customers and use this info to create an advantage on using your products.
Using remarketing solutions improves CPA of 44% en 30% higher conversion rate.
Ask yourself which sources remain untapped. Biggest silos today are connecting social data with overall marketing data.
On a website: don’t only give personalised ads, also think about personalised website experience.
When it comes to your app: don’t forget your most loyal customers in your retention strategy: people using your app are extremely important (and loyal).
For eMail: think about who hasn’t visited your website last 6 months, retarget them with interesting content that differs from others.
Or even in brick and mortar: combine online conversions with in store purchases to better calculate customer lifetime value
By taking your data and uploading it to google you can use their machine learning to personalise your marketing.
Behavioural insights identify new customers segments (google audience insights) that then can be used to deliver more relevant and personalised ads.
How can you make the most of your first party data: maximise coverage of full customer base (are you thinking about all your customers), revisit customer segmentation (do your segments reflect real value?), personalise your website experience.
Marketing has changed but the challenge remains the same: be relevant
But the definition of relevance has changed:
– Recognise me as an individual with very unique needs
– Treat me as an individual: I’m not a number
– Make it easy: empower me to interact with your brand through the channel of my choice
– Anticipate my needs: not only knowing who they are today but understanding where they are going
– Give me a voice: value opinions and give them tools to share that wherever I want.
In this way, use technology to position yourself for your customers and against your competitors. There are many possibilities, by listening to your customer you’ll be able to choose your battles wisely!