6 ways to engage with your customers in real-time
Optimove’s platform, for example, lets companies use real-time hypertargeting that takes into account customer actions across all channels
In the Media
How much is too much when it comes to discounts and customer loyalty?
Pini Yakuel, Chief Executive Officer at Optimove, looks at why customer retention is often a science more than it is an art.
New Players in Digital Marketing Analytics Emerge
Who are these new vendors and why do they matter to marketers striving for useful digital marketing analytics?
Financial firms miss £113bn opportunity due to gender bias: report
“Financial services companies haven’t always had to worry about reaching out to individual customers, in particular due to the low switching rate between different providers,” said Alon Tvina, Optimove managing director for EMEA.
Why CMOs should learn how best to communicate in a crisis
Pini Yakuel, chief executive of marketing cloud platform Optimove, says: “Artificial intelligence and automation support marketers to make more informed decisions. Predictive micro-segmentation of customers and automation technologies help marketers to focus on steering a conversation in crisis situations to address key customer concerns.”
Lack of targeted marketing for women loses banks £113bn per year
The lack of tailored communications for women is symptomatic of a wider problem in customer engagement in the sector, according to services firm Optimove.
Big sales discounts result in “cherry-picking” shopper tactics
Alon Tvina, managing director of EMEA for Optimove, commented: “Over the holiday period, retailers are waging all-out war for new shoppers, but acquiring one-time shoppers is extremely costly, especially when retailers use price slashes as a major acquisition strategy.”
High discounts attract “cherry pickers” who don’t return for second purchase
Data from customer engagement specialists Optimove, which analysed the behaviour of more than 1m shoppers over two years, suggests that offering a lower level of discount, from 5%-30% does help “charm” customers, with the chances of a customer returning for a second purchase increasing up to the 20% mark. After that the customer is more likely to be a short-term bargain hunter with little brand loyalty.
5 killer stats to start your week: Discounting does not drive loyalty
Customers whose first purchase from a brand is discounted by over 30% are less likely to buy from that brand again. While they will buy a single bargain it will not help build long-term brand loyalty.