Group FIO

Group FiO is a leading provider of Innovative Business Solutions specializing in cloud based Multi Tenant ERP, CRM, Order Management and Retail applications. The Solutions are aimed at small and medium businesses as the applications will enable them to manage and improve efficiency of their core key business operations and bring everything under one single system.  Contact us : https://www.groupfio.com/

[group-fio]

What Should You Know About Your Customers?

Hyper-personalized experiences must be meaningful. It’s more than telling your customer, “Hey, we thought you might like this.” There has to be a why. If you have ever watched Netflix, Hulu, or other popular streaming platforms, you know they often make watch recommendations – not just because you might like something, but because you watched something related or similar. Simply, hyper-personalization drives sales.

Get to know your customers beyond their first name. Providing a hyper-personalized experience for customers saves them time and converts sales. This is particularly important in the online space. Whether you are delivering an email campaign, running retargeting ads, or offering an incentive, developing a deeper understanding of your customers wants and behaviors is a win-win.

In a brick-and-mortar store, a customer may browse around looking for a specific product. If no one approaches them, they might be a bounce. The same is true when they visit your website. Customers need a personal greeting, assistance to find what they are looking for, and offers that match their own needs.

Beyond knowing your customer’s name, you should know their buying habits, past purchases, and online behavior. Using a combination of historic and real-time data helps you provide better personalized recommendations with higher conversion rates.

Accenture reported that 75% of consumers are more likely to buy from a retailer (online/offline) that recognizes them by name, recommends options based on past purchase, or knows their purchase history.

According to a 2019 article in The New York Times, “At some drive-throughs, McDonald’s has tested technology that can recognize license plate numbers, allowing the company to tailor a list of suggested purchases to a customer’s previous orders, as long as the person agrees to sign away the data.”

McDonald’s recognizes that despite having a powerful brand awareness, that’s not enough to maintain a strong influence over the spending choices of savvy consumers who expect a hyper-personalized experience.

Developing mutually-rewarding relationships with your customers doesn’t have to be hard. Mostly likely, the data is already there. It just needs to be properly collected and analyzed so you can create more hyper-personalized offers and improved customer experiences.

When hyper-personalization is properly implemented, customers are also more likely to provide Zero-Party Data. Learn about that, here!

Create More Meaningful Customer Relationships with FiO Analytics FiO ai-InteleKt™ Analytics and Managed Marketing Services combined will engage your customer in a more personalized way, allowing you to better understand and identify how to interact with customers in segmented markets and channels.

These are our top five recommendations to consider when building a data-driven customer experience.

Inform and enhance email marketing content and strategies

Enable a more personal level of customer engagement

Establish a better synergy between sales metrics and marketing metrics

[group-fio]

How to create a new lead in iCRM  

To create a lead in file, I CRM go to the menu under lead and click Create lead. That will bring you to the screen we're at now I've entered a lead name of Friedman Records. The source is going to be how you came across this lead. So maybe it was a direct marketing campaign, maybe you met them at a conference. I'll just put that this was a direct mail.

The industry will of course will put retail. So the source in the industry and there are a number of other fields in the ICRM that will have predetermined things that you can choose on there. So menu items that can all be set up under the admin tab. I'll create another video so that you can see how that's done. Everything else under here that doesn't have a star is all optional.

So the only mandatory fields up here at the top are Source and Lead name. I'll leave the number of employees blank for now. Ownership. We'll give it an LLC. We'll say that they're a million dollar business and I can put in here a description if I want or choose the relationship manager.

So who's in charge of the account, who's the person that's selling to them? If I come down here under email address, I'll just choose that there Friedmanrecords at Gmail, Readman Records.com. We'll put the phone number in. All of this is pretty standard, pretty easy, as you can see.

And then under address, if I want to enter an address, I can. It's not mandatory, but I'll just go ahead and put one. We'll just say Andrew Friedman is the attention name. We'll give them an address, something really realistic like 1238 and we'll give them a zip code and we'll say they're located in Austin, Texas. And as you can see, a lot of these fields, they're really easy to fill out.

You can just type it in and it will search it for you. Once we've everything in there, then we click Save and now we have our leads.

[group-fio]

6 Major Email Marketing Trends for 2022

To those who don’t routinely use email as part of their regular marketing mix, it can sometimes feel like email hasn’t changed that much since it was created. Maybe this is why some are so persistent in predicting its death every time a new flashy communications platform comes around. How many times have we heard the “it’s the end of email” mantra?

The truth is, while the digital marketing landscape changes dramatically every year, email has continued to be one of the most effective channels for ecommerce marketers.In fact, recent data indicates that each dollar spent on email can lead to an average of 4200% ROI if you’re using the right email strategy.

Whether you’re a fledgling startup or a major enterprise, regular email marketing endeavors should be a major part of how you stay in touch with leads and move them through your sales funnel.In this article, we uncover some new email marketing trends that will help you set your email program apart in 2022 and build stronger relationships with your customers.

Capture Zero Party Data

Zero-party data—sometimes referred to as self-declared data—is data that a customer voluntarily provides. This is data that marketers can’t infer, buy or collect elsewhere. It’s exclusively provided by the consumer and can be used to help build out future marketing experiences.

For example, Valvoline recently created an interactive and gamified experience to capture more zero-party data. Throughout this quiz, the customer learns about Valvoline’s product—but Valvoline in turn learns about the customer and their driving habits, which they can use for future personalization and product positioning. There is also a clear value exchange: the customer receives a $7 off oil change coupon at the end as a thank you for their participation.

Another way to utilize zero party data in your email marketing is by utilizing a tool like FiO’s Insight Marketing Platform, giving you access to countless zero and first party data points that allow you to target your audience with an unmatched level of personalization.

Why it will be relevant in 2022:

Capturing zero-party data is a great opportunity for brands to build more first-party data and can be executed easily through templated experiences

Voluntary experiences see high customer engagement: Up to 85% of people are considerably more willing to provide personal information in exchange for something that benefits them

This valuable data can extend beyond email and inform business decisions across the marketing landscape

Know more please visit our blog here : https://www.groupfio.com/6-major-email-marketing-trends-for-2022/

[group-fio]

How To manage Contacts in ICRM

To edit a contact. There are a couple of different screens that you can go to to change certain things about the contact that you might want to add or edit from what's already in there. Number one on this contact profile to the general details, you can add things like time zone. If I come over here to the blue button that says Update, I click that and I can add a time zone. I can change the marketing.

I can change their designation or which is their job title. I can add a description. I can even actually change what their name is. So maybe it's Clayton, but they spelled it with an I and so you want to make sure you have the correct spelling in there or they changed their last name because they got married or something to that effect. You can go ahead and edit what their name is in here.

You can change their birthday. You can add a birthday if it wasn't in there and then click Save when you're done and everything will be changed within there. I can also go into the contact info and make any changes to the email address or postal address or phone number or anything that might be in here. By coming down here to one of these buttons at the end, if I want to change the email address, I'll click that one and I can come in here and edit it and maybe it's just Kershaw. There's no.

We'll click Update and now you can see under the contact info that it's back to Kershaw with no. 22. One thing I do want to bring up is you can add purposes. So a contact or an account or a lead might have multiple different addresses or phone numbers that you want to store within there.

And you can add a contact purpose to give some clarity about what this number or what this address is. So maybe you have an AP number versus a sales number, or you might have a warehouse address versus a corporate address. So there's all these different things in here and I'll show another video on how to add different contact purposes in here. But that is another way to add clarity and richness to the records that you're recording for your contacts and anything for accounts and leads as well.

[group-fio]

Customer Loyalty and Analytics: 5 Strategies to Reduce Churn

Think customer loyalty programs are all about getting generic discounts, points and rewards? Think again. Today, customer loyalty has become a major focus for brands as they Today, it’s more about offering customers something as personalized as possible, so that they feel truly special.In the globalized world of today, competition is cut-throat. Businesses are popping up everywhere, and customers have a variety of options available. In such a world, the experience becomes a huge differentiator. A good experience makes for long-term happy customers. A good understanding of your customers is the key to delivering such an experience. That’s where customer loyalty analytics can be very useful. With the help of big data, you can learn about your buyers and tailor an experience that matches their expectations. Customer loyalty analytics can also be useful in developing customer-centric marketing strategies that give a higher return on investment.

We are living in the age of the smart consumer; they know what they want, and they also know that if one business doesn’t provide it for them, there’s likely many others just a mouse click away that will. The crowded marketplace means that customers are less likely to remain loyal to one brand, and the advent of social media has also empowered consumers to share both positive and negative brand experiences online. E-commerce has provided customers with a plethora of opportunities and choices sitting right on their smart phone, which can be a positive for businesses who pay attention to their customers’ needs and a drawback to those who aren’t using customer data to empower their marketing strategy. If you’re not collecting and utilizing customer data in your efforts or are unsure of how to use analytics to boost your customer lifetime value (CLV), read on for some ideas.

Using Data The Smart Way

Marketers have been told for some time now that the key to creating more relevant, “sticky” campaigns is to use data to inform your content. But utility of data analytics goes beyond the campaign level. Today’s laser-focus on customer experience and journey means that data should be the backbone of your entire business strategy.

However, while many businesses may realize the star role that CX needs to play in their efforts, few truly know how to use data analytics to improve the experience and garner true customer loyalty. According to a recent study published by McKinsey, businesses’ use of analytics to create a competitive edge in customer experience is only at 32%. This demonstrates the issues that many businesses are having in trying to apply data in a universal, transactional way across their entire organization.

Great customer experiences lead to higher retention rates, increased brand loyalty, and bigger customer lifetime value (CLV). Improving customer experiences can seem like a straightforward task, but unless you base new tactics and strategies on tools like zero-party data, you might be putting in effort and resources in the wrong places.

So, what are some RIGHT ways to use data analytics to improve customer loyalty? Here’s 5 ideas to help you get started building that data-driven competitive edge.

1. Segment Customers The Smart Way

Today’s ultra-connected world means that both your current and new customers will interact with your brand through many different channels, but eventually, they will develop a preferred way in which they obtain the goods and services they need from you. These preferences provide valuable insights about themselves, their behaviors, their lifestyles, and even their future purchases and areas of need.

By using a CDP like FiO’s Insight Marketing Platform (IMP), you can segment users based on these various touchpoint behaviors on autopilot.

If you have an e-commerce store, a true IMP will allow you to segment your patrons based on their transaction history, number of previous purchases, and even their product search history, which can provide you with insight that informs a potential path for each customer. For example, consider the potential implications of someone who “purchased X product” 12 months ago, but then also looked at the upgraded version of the product and also downloaded the whitepaper on the upgrade using an email link sent to them. You can use these touchpoints to know exactly what branded campaigns to send them, and through which channel (email) to which they’re most likely to respond. You can also infer their areas of interest and what other product and service knowledge will be beneficial for them to see. This type of data segmentation not only leads to increased sales, but also makes the customer feel as if you’re paying attention to their needs and serving as a helpmate to them in their search for the right product.

2. Nurture Leads

Once you begin using data to inform on a customers’ interests, pain points, and preferences, consider sharing non-promotional content that’s meant to nurture them through the know-like-trust cycle. The more relevant the content, the more likely they are to remain on your outreach list and to convert into customers.

Consider this example: you’re a marketing agency that provides SEO services to companies looking to increase their standing on SERPs. Some of your clients want to just improve their site’s overall SEO, while others are looking to go deeper and boost the backlinks to their sites.

By collecting the right data, you can ensure you’re providing the right expert advice to each group. The overall SEO segment would get informative blog posts or video walkthroughs about various SEO-boosting website tactics they can use to maximize their website’s potential, and the backlinks group would receive tips on prospecting sites for pitching ideas or articles on how to submit their products and services to influencers. By not always pitching but providing value-add content, your organization is seen as an asset that is invested in your customers, and this builds trust and loyalty. Know more about Customer Loyalty and Analytics: 5 Strategies to Reduce Churn please visit here : https://www.groupfio.com/customer-loyalty-and-analytics-5-strategies-to-reduce-churn/

[group-fio]

How to create contacts in iCRM

To create a new contact in Bio, I CRM. First we're going to start by going to the menu at the top under Contact and we'll Select Create Contact. When creating any sort of new contact, lead, account or anything like that, it's important to remember that the little stars here next to the fields are marking the mandatory fields so all of those need to be filled out if you're going to create the contact or account or whatever it is. So the salutation will go with Mr. We'll say this person's name is Clayton Kershaw and we'll just say he's a male.

Now everything else that doesn't have a star is optional. I would highly suggest that if you have the information to enter it but it doesn't necessarily need to be there. If you want to create the contact the Department will say that he works in the marketing Department and designation here is essentially just the job title. So you can search in this field for Director of Digital Marketing and this little field here you can search by and it'll pull up anything that you type in there. So I put in market and it gave me everything that has the word market in it.

I can then link it to a party ID if I want to. So if there's a lead that's already created I can then link them to a particular lead. So we'll say this person is part of CAS and I could put in description here as well. The other important thing to remember is it's broken up into little sections here. So if I don't want to put in any contact information or an address it will let me even though that there are fields here that have a star next to them that are saying it's mandatory.

Let's say if I want to put in a phone number it will make me put in an email address. So I'll just put in the email, we'll say it's [email protected] and we'll give him a phone number and we'll say his website is Kurt.com. Alright I'll leave the local name empty, I'll leave the address empty so you can see it go through successfully. There we go. And now we've got our new contact, Clayton Kershaw.

Know more please Contact Call : [phone] , Mail : [email protected]

#iCRM #intelligentCRM #CreateContact 

[group-fio]

Prescriptive Analytics with Group FiO InteleKt™

Take control of your customers journey by utilizing Prescriptive Analytics with the Bio Intellect Suite. Prescriptive analytics allows you to forecast outcomes based on behavioral data to accelerate the customer journey towards your desired outcome or goals. Goals and goals such as purchasing a product or requesting a quote for a service. In today's ever changing landscape with more online behavior from consumers than ever before, implementing an industry leading tools such as FIO Intellect into your business is critical for future success. One major component of Intellect is the use of Prescriptive Analytics and the power this brings to helping you better understand and navigate your customers effectively.

Learn how FIO has built Prescriptive Analytics strategies and tools directly into our Intellect Suite with a short demo from one of our experts today.

Know more visit here : https://www.groupfio.com/intelekt/

[group-fio]

7 Ways A Customer Loyalty Platform Boost Brand Engagement

Companies in every industry are utilizing customer loyalty solutions more often than ever before. Brands understand the importance of retaining existing customers and are choosing to implement a system directed specifically at building customer loyalty. Some marketers may think of loyalty programs and initially imagine a substantial portion of existing resources being funneled away into a program that doesn’t deliver ROI. 

However, pursuing new customers is the true cost burden; a February 2018 article in Forbes asserts that keeping an existing customer is 5 times less expensive than acquiring a new one and increasing customer retention by 5% can increase profits from 25%-95%.

Because marketers recognize that no two customers are the same, it’s clear that loyalty needs to be delivered strategically. One-off mass promotions that miss the mark for 80 percent of a brand’s customers are no longer efficient or cost-effective in an environment where consumers are exposed to between 4,000 and 10,000 brand messages every day.

Organizations need the ability to identify every individual that interacts with their brand with a data driven platform that provides a 360-degree single customer view, appeal to those specific needs and preferences, and build a level of trust that creates a 1:1 connection.

How Loyalty Programs Drive Customer Engagement

Customizable loyalty programs provide brands the ability to incentivize customers to make return visits, to purchase more, and refer others. Loyalty programs also offer brands a way to deliver personalized offers and promotions relevant to their members’ preferences. With a loyalty program empowered by FiO’s Customer Loyalty Platform, brands can also drive true omnichannel engagement.

Customer interactions continue to expand beyond just visits and into many digital spaces, meaning loyalty now happens across a range of touch points. Driving customer engagement today can take many transactional and non-transactional forms including: sentiment surveys, gamification, social feedback, referrals, etc., which are valuable components to modern loyalty programs.

The spring of 2020 also highlighted the importance for organizations to identify their customers and have the means to communicate with them digitally.  The pandemic has created new circumstances and changes to daily operations for many businesses. Brands need the ability to message customers on a digital channel and in an appropriate tone about new procedures, updated business hours, temporary closures, and relevant or redesigned offers, as face-to-faces visits continue to be limited.

The best customer loyalty programs have responded to these new market conditions and look to develop customer relationships through omnichannel communications and relevant incentives designed to create and optimize a variety of interactions.  With the right strategy, brands can quickly and easily gain knowledge of the tools and the system to successfully promote their loyalty platform to all stakeholders.

The value of building a loyal following provides brands with multiple benefits that can extend their reach and differentiate them in the marketplace.

Benefit #1: Loyalty Programs Keep Customers Happy

The simple fact is that every company wants people to purchase their products or services. A loyalty program helps you reach customers through 1:1 connections based on real-time data to deliver relevant offers over the channels they prefer and at the times they need them.

Loyalty programs that also offer added benefits like gamification strategies that provide innovative and fun ways to drive engagement create the additional incentive of having customers interact with your brand for pleasure as well as for savings. Customers are incentivized and rewarded for taking specific and/or multiple actions and developing new habits through contests, challenges, badges, and sweepstakes, the most important of these new habits being continually checking in with and being exposed to your brand.

Benefit #2: Loyalty Programs Drive Growth

A loyalty solution provides marketers with program tools such as omnichannel marketing and email signups that drive acquisitions, while providing every kind of customer a tailored program designed with relevant ways to earn and redeem points. Ongoing loyalty campaigns and offers also deliver valuable same store sales to help storefronts as well as eCommerce, and brand profitability.

Your eCommerce platform should offer personalization tools that bolster customer loyalty, to enable you to tailor your customers’ experiences. If it doesn’t, then it’s time to begin considering a re-platform. FiO’s Customer Loyalty Platform does exactly that. By providing both the data-driven power and capacity needed to give you a single 360-degree view of each customer, you’re able to create deep personalization that will keep you competitive in 2022 and beyond.

Benefit #3: Loyalty Programs Provide Customer Data

A loyalty program provides customers with an opportunity to receive rewards in return for providing data to the companies. This allows brands to obtain layers of data that have been inaccessible until now, like first and even zero party data, which allows brands to learn information about customers such as where they are coming from, how frequently they visit your website, and which items they have browsed. By using loyalty program data for customer characteristics, demographics, buying patterns, and pain points, you will be able to personalize your offers better and use the most effective language and incentives that would attract customers.

Benefit #4: Loyalty Programs Help You Learn Your Customers Behaviors

Loyalty programs provide brands the ability to recognize unique individuals through the layering of the data that starts with initial email and WiFi signups. Then a brand can begin to learn about their customers’ behaviors and preferences as they move across different devices, channels, and platforms in your omnichannel ecosystem. Understanding a customer’s history with your brand unlocks key insights that help you maximize value and return on marketing spend through the delivery of a consistent, seamless personalized experience. Know more about 7 Ways A Customer Loyalty Platform Boost Brand Engagement visit here : https://www.groupfio.com/7ways-a-customer-loyalty-platform-boosts-brand-engagement/

[group-fio]

5 Trends That Will Shape Ecommerce In 2022

It is no secret to those of us in business that eCommerce is an ever-changing industry – every year, several new trends come up that can help your business grow and compete with your competitors – and 2022 is going to be no different.If 2020 accelerated the growth of eCommerce, 2021 proved rapid growth is here to stay.

As 2020-2021 was besieged by the pandemic, shopping behaviors were left forever changed. All markets and sectors that were behind in the development of online shopping platforms were forced to accelerate their digital transformation.Consumer behaviors have changed drastically. Lower in-store traffic, coupled with an increasing preference for powerful digital experiences, means customers are pivoting their demands of brands. Consumers of 2022 are demanding that retail companies bring new customer experiences to maintain an accelerated pace of digital evolution.

Having an eCommerce business is no longer a luxury; it is an essential requirement that a retailer must have to bring in sales in the post-pandemic years. In this year alone, global eCommerce retail sales grew by more than 25%, emphasizing the importance of having a retail eCommerce business. Experts are anticipating eCommerce industry sales to reach its first $1 trillion in 2022. This revenue is surely reflecting a very bright potential for eCommerce business, and Group FiO is ready to assist our clients with the tools and trends they need to be ready to take their share of that growth. Here are the Top 5 trends we predict will be a crucial component of that acceleration.

Trend 1: Consolidating Your Technology Stack

In light of recent global events, digital commerce has become the main route to market for the majority of industries. However, for many years prior, businesses became accustomed to buying all sorts of technologies that offer niche features and solutions – without considering the full range of functionality of each of them, or the siloed data in departments that isn’t giving you a unified understanding of your data or the customers it represents. Often, it is possible to begin using a tool to a greater extent, and then remove the obsolete tools – this saves costs and complexities and improves process efficiencies.

In 2022, we will begin to see a sharper focus on eCommerce profit and loss, which will lead to eCommerce teams looking at which of their tools can be removed and replaced with other pre-existing technologies already integrated.

If your eCommerce platform is difficult to maintain and keep stable, it’s likely due to the amount of 3rd party integrations and lack of customization ability, making the foundations of your platform unstable. Choosing a hybrid-SaaS platform, like FiO’s Insight Marketing Platform, that is endlessly customizable and highly scalable to ensure stability is the way to move forward for 2022. With a platform that brings together disparate pieces of your tech stack into one cohesive unit, you’re able to maximize the data you already have on your customers and make it actionable, a crucial component to marketing success in the year ahead.

Trend 2: Getting Personal

As we have told you many times before in this blog, personalization of a customer’s online shopping experience is the key to keeping them satisfied. Consumers crave customization. They want help finding the products that they need and suggestions for items they may want in the future based on their personal preferences and previous buying histories.

Want proof? A recent Forrester poll indicated that 80% of consumers are more likely to purchase from a company that offers personalized content and promotions, and those that do so are experiencing a 20% uplift in conversion rates for the website users who are shown personalized content.And the benefits don’t end there. The same study indicates that consumers who have been offered positive personalized recommendations are 46% more likely to consider themselves loyal to the brand that provided these successful, customized suggestions.

Your eCommerce platform should offer personalization tools that bolster customer loyalty, to enable you to tailor your customers’ experiences. If it doesn’t, then it’s time to begin considering a re-platform.FiO’s Customer Loyalty Platform does exactly that. By providing both the data-driven power and capacity needed to give you a single 360-degree view of each customer, you’re able to create deep personalization that will keep you competitive in 2022 and beyond.

Trend 3: AI Optimization Will Continue to Rise

Artificial intelligence (AI) is already revolutionizing the online shopping experience and the use of this technology will become even more ubiquitous in the coming year. Early adopters of AI and machine learning tech have been able to create and deliver personalized online experiences by helping shoppers visualize products and how those products can meet their needs. Similarly, AI-powered chatbots are becoming increasingly sophisticated in their ability to deliver exceptional customer service. Know more please visit our blog here : https://www.groupfio.com/5-trends-that-will-shape-ecommerce-in-2022/

[group-fio]

Using Data Driven Decision Making to Fuel Growth

2021’s inaugural issue of The Economist magazine boldly – and rightly – declared that data, rather than oil, was the world’s most valuable commodity. The world is quite simply now run with data. The content you read, the videos you watch, the updates you post and the products you buy; by 2022, new information generated per second for every human being will reach 1.7 megabytes. Considering there are over 7.7 billion people on the planet, the amount of new information is equivalent to more than 25,000 hour-long videos. Per second!

All of our digital behavior is recorded. But for many companies, this data sits in one dashboard here and another database there, making it incredibly difficult to be used in a way that yields any results. The good news is that instead of letting your data degrade, you can use it for your business’ growth strategy to make better decisions.To make data driven decisions, you need to unsilo all that data, and unify it on one comprehensive platform that gives you a full picture of your customers.

By leveraging the wealth of digital insights available at your fingertips and embracing the power of business intelligence, you can make informed decisions with confidence – the kind that will lead to commercial growth, evolution, and a healthier bottom line.

What Is Data-Driven Decision Making (DDDM)?

We read about it everywhere. The term ‘big data’ alone has become a buzzword in recent times – and for good reason.

Data driven decision making (DDDM) is the process of using data to make informed and verified decisions. Modern analytics tools such as Group FiO’s Insight Marketing Platform provide interactive dashboards that help people to overcome biases and make the best managerial rulings that are aligned with business strategies.

And by implementing a data platform that offers the right data collecting and reporting tools and understanding how to analyze as well as to measure your data accurately, you will be able to make the kind of data driven decisions that will drive your business forward. Of course, this sounds incredible in theory.

But in practice, even if you have access to the world’s greatest data, it’s possible to make decisions that disregard tangible insight, going with your gut instead. In most cases, this can prove detrimental to the business.Fundamentally, data driven decision making means working towards key business goals by leveraging verified, analyzed data rather than merely shooting in the dark.

While sometimes it’s okay to follow your instincts, the vast majority of your business-based decisions should be backed by razor-sharp metrics, facts, figures, or insights related to your aims, goals, or initiatives that can ensure a stable backbone to your management reports, business operations, and marketing strategies. Data based decision making will propel your business to new heights while making it more adaptable to an ever-changing commercial landscape. It should be at the heart of all of your strategies, activities, and operations.

The Role of Data Democratization in DDDM

Until recently, pairing data analysis and decision making was a tall order that could only be accomplished by people with advanced data science skills. However, now that two essential factors—the proliferation of data sources and the adequate data processing technology—have fallen into place, data democratization has put data-driven decision making on every executive’s agenda.

Essentially, data democratization means having the right tools for mining, visualizing, and analyzing data—all with minimum adoption barriers for non-tech users. After decades of data analysis being confined to specialized IT departments, today’s data democratization heralds a breakthrough that eliminates the need for the gatekeepers of these valuable insights. Comprehensive customer data platforms like FiO’s Insight Marketing Platform can bring democratization to decision making by opening crucial data and making it transparent across an organization.Advances in data virtualization, master data management, and cloud computing are all responsible for this paradigm shift. The previous barriers to data-driven decision making—data quality, fragmentation by departmental silos, integration of multiple sources, complex dealings with unstructured and semi-structured data—are now giving way.

Taking advantage of data democratization has never been more valuable. Finding the right way to collect and deploy your current data, along with adding the benefits of first and zero party data, provide unprecedented insight into your customers choices, decision making process, and preferred touchpoints through your brand ecosystem.

Why Data Driven Decision Making Is Important

Picture this: you get into your car in the morning and notice your gas tank is almost empty. You pull into the closest gas station and fill up your car for $2.73 a gallon. The problem is solved – until you drive a mile further and realize another gas station’s price is $2.22 a gallon. You’re mad that you could have saved a few bucks if only you’d known that a better deal was within your reach.

This is a highly simplified version of what data-driven decision making can do and why it’s important.

The decisions you make in your business are probably more important, with more money at stake and more details involved. Still, it’s not hard to see that making decisions based on facts and information can deliver better results than going with your gut.

Data is critical for growth in any organization, especially in the age of digital technology and instant gratification. Because we’re in a state of constant evolution, demographics, trends, and other important factors can change unexpectedly. Data helps us avoid figuring out these shifts the hard way and instead gives us insight into a changing landscape so we can respond accordingly.

There are a wealth of reasons that using data to make decisions is a pursuit every modern business should place at the heart of their culture:

Continual Organizational Growth

The core importance of data in decisions lies in consistency and continual growth. Data-driven decision making empowers companies to hone in on key insights based on a multitude of functions, operations, and departmental activities.

One data decision after another actioned with consistency will empower you to set actionable benchmarks that result in continual progress and growth – the key ingredients to long-term success in today’s cut-throat digital age.

InnovationData driven business decisions can make or break companies. A Wall Street Journal article recently discussed a study that discovered that among the companies surveyed, the ones that were primarily data driven and using a comprehensive data platform to guide their overall structure and strategy benefited from 14% higher productivity as well as 16% higher profits.They also found that companies that approach decision making collaboratively tend to treat information as a real asset more than companies with other, more ambiguous approaches. Know more please visit our blog here : https://www.groupfio.com/using-data-driven-decision-making-to-fuel-growth/

[group-fio]

What is predictive analytics? and How it is working?

Welcome to Fios Marketing Video Tips Series. How Predictive analytics will inform the future of customer experience. Think about the last time you use your phone or your tablet and the system will auto suggest the next word for you. Well, the system is using your language, use and millions of others to predict the next word you're going to use. Well, predictive analytics is a category of analytics and a set of mathematics that tries to predict your outcome or an event that will occur.

Now, the predictions usually use various elements of data and observations, historical data, excetera. In order to make the prediction. It's a combination of statistical methods, artificial intelligence, and machine learning. So let's take two use cases about how you would leverage predictive analytics. Forecasting a need Forecasting A need is about getting a customer or a group of customers to understand what they are going to either buy as a product and or a service.

How do you do that? Use predictive analytics with all the algorithms we spoke about. But what is important is that you curate your marketing materials for that group. So it's one thing to know that they're going to buy something. It's another thing to figure out how you're going to position it.

So you have to position it and get the cause effect of that purchase, to incent them to purchase, to motivate them to purchase. So it's that factor that you're going after. So you have to go beyond just the basics of prediction. So try to think about that and practice that and the set of data you need to manage that kind of process. Example, two is reducing churn.

Now churn is when a customer stops shopping with you. Now there are characteristics of when customers stop shopping with you. And that would be a combination of segment codes a time when they hit the CLV, you got a bad review. You happen to get them the wrong product, excetera. Now, you can predict when customers churn and segments of customers churn.

And when you notice that that pattern is about to happen to an individual customer or a smaller group of customers, you modify the behavior that is sent to them so you can't use the same practice and expect a different result. So you need to modify either a message or a method of communication or the type of information you seek all the way to see you as a brand. So try to change some of those variables, manage the observation, and see if that Churn rate changes. For more information, please go to our website groupfio.com

[group-fio]

Emotional Analytics A lot of our brands would like to know what drives the consumer emotionally because it is the the decision of buying something starts with an emotion, so you need to be able to get to that emotion. You need to understand how they think that information can be analyzed with sentimental tools and sentimental tools. You structured data and unstructured data. Whatever technique you use, the information we get from those two type of tools. And the technique called Sentimental analysis, allows you to have as much information as you can from a target group of customers and or a focus group except with a much larger volume. 

So you have the same kind of effects for you to validate your product strategy, validate your marketing strategy, and, more importantly, have a continual method of measuring that reaction from an emotional perspective for your consumer. For more information, Please visit here: https://www.groupfio.com/blogs/

[group-fio]

Why an Integrated Strategy is Key to Moments Marketing

Without getting too philosophical, there’s no denying that mobile devices have redefined our lives and our expectations. Today we get what we want, whenever and wherever we want it simply by looking at the device in the palm of our hands. Anything from buying dinner to directions to travel cross country to looking up historical data is accessible in a matter of minutes. This type of ready access to all things means the way we do business and how we reach our customers has also dramatically changed. No longer a linear funnel, the customer journey has fractured into numerous touchpoints where decisions are made and preferences formed in real-time. These interactions, in modern marketing parlance, are called “moments.”

What is Moments Marketing?

You may not realize it, but it’s likely you’re already familiar with moments in time marketing; in fact, it’s probably already an active part of your life. Have you ever been wondering what to have for dinner only to look at your smartphone and see a BOGO entrée offer from one of your favorite takeout places? Been wondering what to get your nephew for his birthday only to see a coupon from Target pop up for 20% off toys? If you’ve ever experienced one of those moments where you wonder if your smartphone might actually be able to read your mind, than you’ve already taken part in moments in time marketing. And while your smartphone isn’t technically reading your mind, what it is doing is utilizing a Customer Data Platform like FiO’s Insight Marketing Platform (IMP) and taking hundreds of points of data it has learned about you and people like you to know how and when to send you the perfect marketing message.

Momentsmarketing is based on the principle that, rather than disrupting a customer or prospect as they move through the day, it is better to serve customers the content they want, at the moment they are looking for it. For example, a common tactic might be emailing a customer an offer for a lawn care product and hoping they read it as they catch up during their morning commute. However, this is not the best time for the customer. They are catching up on work emails, preparing for their day, etc., and it is unlikely they will choose to make a purchase on the train to the office. However, that special offer for lawn care presented on a Friday afternoon as they plan their weekend chore list? That’s much more likely to get traction and results.

What Empowers Moments in Time Marketing?

The goal of moment marketing is to develop a deep understanding of the customer journey that allows you to meet your audience the moment they pick up their device with the intent to learn something, go somewhere, buy something, etc. Providing the perfect piece of content in this moment not only increases value for the customer, but also reduces the chances they will continue to look elsewhere for competitive products. And the key to making moments marketing work? Data. A robust, data-driven platform like FiO’s Insight Marketing Platform that compiles first and zero party data but also helps shape marketing strategy is an absolute must if you’re going to win the moments in time marketing race. Successful moment marketing plans require the data and analytics infrastructure to enable real-time campaign updates to capitalizes on conversion-friendly queries as they occur.

As the customer journey has become more complex and increasingly digitized, it’s more important than ever for brands to understand and interpret the data that is generated along the way. This data is essential to uncovering the key “customer moments” that drive — or halt — conversions and sales. Discerning and intentional data analysis is also essential to building a modern sales and customer management engine that’s firing on all cylinders in an increasingly virtual environment. Know more about Why an Integrated Strategy is Key to Moments Marketing please  visit here : https://www.groupfio.com/why-an-integrated-strategy-is-key-to-moments-marketing/

[group-fio]

how Predictive Analytics will inform the future of customer experience?

Welcome to Fios Marketing Video Tips Series Tip of the Week how Predictive Analytics will inform the future of customer experience. Predictive analytics is a category of analytics and mathematics that predicts an outcome or an event or behavior the way it does it is by understanding data by looking at behavioral data and historical data logging data, etc. Etc. And the type of mathematics used is either statistical, artificial intelligence, or machine learning. Now to get a good prediction of analytics, you need to focus on cleansing your data 80% of the work and getting good use out of predictive is to leverage your data so you need to build a clean process in order to ensure that the data is continuously cleaned, continuously validated and assumptions have proved to be false through your analysis and algorithms are taken out of the system and fresh data brought in so you continuously have an ability to predict with the most accurate data at a moment in time.

And that is important. A prediction today for a consumer can be very different than a prediction for a consumer six months from now. For more information, please follow the link on the screen and visit our website https://www.groupfio.com/

[group-fio]

The Importance Of Omnichannel Marketing

Omnichannel is no longer nice to have. It is a necessity, and it must be consistent. You have to have information for consistent consistency and deliver that same information to everybody, whether it's a chatbot or whether it's an online experience, that insight has to be very consistent across all channels. And therefore, when you're considering your Omnichannel, make sure that you have the basics. Of course, like inventory, customer information preferences need to be very consistent. But in your online channels, also make sure that all your forms of communication, whether it's email, social media, chatbot, or your voice response system, is very consistent in those formats as well so that the customer feels the same experience that they would have had if you're running a great brick and mortar or a Gary online store, they can come to either format and they see no difference.

To learn more, please visit us at https://www.groupfio.com/

[group-fio]

Why You Should Consider Adding Gamification to Your Customer Loyalty Program

Gamification is one of those buzzwords you often hear during brainstorming sessions, but when it comes to loyalty programs, it’s become much more than just a fad. Having a gamification component to your loyalty program or app is one of the most proven ways to keep customers happy and engaged with your client’s brand. That said, many have found that when they try to incorporate gamification into a business without proper research and data intel on their customers and target audience, they often end up feeling as if they’re performing without a net. The same goes for sophisticated customer retention solutions, such as robust loyalty programs.

It doesn’t seem like all that long ago that most loyalty programs centered around the “buy some/get one” punch card model, along with the occasional direct mail special coupon offer. But with the exponential growth of eCommerce and the birth of the smart, sophisticated modern consumer, loyalty programs have branched out from simply rewarding purchases with basic rewards. To keep today’s customers engaged, loyalty programs must offer a wider range of incentives and attractions. While this can prove to be a challenging endeavor, if you have a program built on a data-driven platform like FiO’s Customer Loyalty Platform you can build a customer loyalty program that creates real Customer Lifetime Value (CLV).

Why Gamification Works Well for Customer Loyalty Programs

Transactional loyalty programs – like the coupons and percent-off discounts discussed above- have proven less and less effective, and brands are beefing up their customer loyalty programs to set themselves apart and drive greater engagement. This is critical, considering that:

58% of consumers said they’re more loyal to brands than they were five years ago.

63% of consumers indicate they belong to between one and five loyalty programs.

77% of consumers feel brands could be doing more to earn their loyalty.

This is where gamification entered the picture. There isn’t one perfect approach to a gamified loyalty program or one surefire type of contest that will ensure engagement. Gamification requires using game elements or design techniques as part of your marketing strategy to influence customer behavior and engagement. Modern marketers know that gamification induces powerful emotions like excitement, intrigue, and happiness to influence specific actions and reactions. How do they know this? Through the use and analysis of behavioral and sentimental analytics.

Increasingly, brands are leveraging both gamification and behavioral analytics in their loyalty programs as a differentiator and a key component in the personalized, customer loyalty loop. While the theories behind what engenders brand retention and brand loyalty are changing constantly, loyalty programs that have included a gamification component to their apps or eCommerce sites have routinely reported higher engagement numbers and bigger growth than those who stick with the basic “some for one” model.

To achieve this and have your gamification efforts be a successful endeavor right out of the gate, take note of these five key elements to creating a loyalty program that is engaging and addictive to your customer base.

1. Figure Out What Behavior You’re Trying to Inspire

Are you hoping to increase the frequency of visits or average transaction amount? Are you trying to generate some hype around your business and get people talking in an effort to acquire new customers? Or do you simply wish to make sure your existing customers don’t abandon you for your competitors?

Different game design elements can trigger different outcomes and to encourage loyalty, but you must motivate customers to keep coming back. A common way to do this is to develop multiple steps that allow them to collect points to redeem for rewards. And if your customers are interested in achieving goals, performance graphs and progress tracking tools could be the way to go.

If you want to use your existing customers to attain new ones, for example, you might do something similar to Uber and offer your loyal customers attractive rewards and discounts for getting a friend to register.

On the other hand, if your goal is simply to encourage people to visit more frequently, take a page out of Starbucks’ book and offer your loyalty program as a seasonal contest where they win a “turn” every time they make a purchase, all with the goal of acquiring holiday-themed badges and rewards toward specific prizes.

By having a clear idea in mind of what you want your loyalty program to achieve, you can gear your gamification to inspire certain behaviors that will create sticky customers and inspire brand loyalty.

2. Encourage Customers to Adopt Digital

You need to go beyond asking a customer to download a mobile app or scan a loyalty card with every purchase. Using gamification paired with making a purchase online or through social media enables you to incentivize digital adoption and greater engagement with your loyalty program, while also helping them have a seamless experience inside a store and while online shopping. This is providing a true omnichannel interaction, and it creates a unified, cohesive brand experience that builds connection and loyalty.

Behavioral data used in customer data platforms like FiO’s Customer Loyalty Platform provides valuable insight into what consumers respond to, how, and why. With the benefit of this predictive analysis, it’s clear to see that today’s customer is looking for a seamless, personalized experience throughout a brand’s entire ecosystem. By building this unified concept into every touchpoint and having them earn loyalty stock throughout, you’re not only giving continuous brand exposure, you’re also building another brick into the loyalty bridge every time they buy from your brand. To Know more about Why You Should Gamify Your Customer Loyalty Program please visit here :https://www.groupfio.com/why-you-should-consider-adding-gamification-to-your-customer-loyalty-program/

[group-fio]

How Real-Time Marketing Can Benefit Your Brand

If 2021 had a marketing buzzphrase, it was certainly “customer engagement.”  While nearly all brands were zeroed in on how to best achieve the best customer experience possible throughout their entire ecosystem, many found themselves confused as to how to best achieve that top-notch CX, particularly in a crowded eCommerce world where competitors are continually fighting for space and social share.

True customer engagement is a combination of emotion and behavior; it is the interaction of how customers feel and what they actually do. And today’s consumers have high expectations for how brands cater to those emotions and behaviors. Customers today expect that brands are “armed and ready” at any given moment of the day to not only meet their needs but astound them with their integrated services and customer experience excellence. This type of “real-time” marketing effort is what it takes to create engaged customers, and an engaged customer develops positive sentiments toward the brands to which they feel a strong connection, which in turn creates customer loyalty and lifetime value.

Once a brand has achieved this level of symbiosis, they have created a bond that goes deeper than being “satisfied with your purchase.” In fact, Yahoo research indicates that “ Engaged customers created through repeated positive customer engagement are more likely to feel excitement, immediacy, and connection” towards a brand.

This clearly shows the enormous positive correlation between real-time content and online customer engagement.

In today’s increasingly mobile world, real-time engagement means brands need to improve their online customer engagement and omnichannel experience to attract and keep their target audience. Brands need to be prepared to meet online customers where and when they want to engage with live content and across multiple devices. 21st-century customers are informed and they want to be inspired. They research online and want to know where the products they buy come from, what their shampoo is made of, and if they are getting the best deal on their car insurance.

Developing meaningful, trust-based relationships with your customers online, listening to what they’re saying, and showing them that you care about what matters to them, can help your brand succeed. It is critical for brands to find ways to engage with their customers online in real-time. A Forrester report confirms this claim, as it found that about 44% of consumers view the ability to have a live person answer queries in real-time as one of the most important features a website can offer.

Coupled with this is the modern-day consumers’ expectation to have relevant, timely marketing messaging and offers that are customized to their specific circumstances. Gone are the days where general percentage off coupons were enough to keep customers attached and engaged in your product line. Keeping customer loyal now means personalized, tailored offers and exclusive coupons that demonstrate you are paying attention to their past history and potential purchases. For brands to create true loyalty, customers need to feel as if they are a “segmentation of one” in their customer experience. Tailored service and offers, presented exactly when they want it, is a now a must.

So how do you achieve the seemingly super-human feat? Read on for tips on how to prepare for and master real-time customer engagement.

Boost Marketing Efficiency with AI

When you think about it, engagement is actually what marketing is all about – increasing communication with potential customers, building trust and forming commitment. Using the tools of artificial intelligence (AI) and a comprehensive customer data platform like FiO’s Insight Marketing Platform (IMP), modern marketing is quickly becoming what marketers have always dreamed it could be: real-time one-to-one customer engagement.

The entire customer experience is now based on omnichannel and real-time strategy. For customer experience to become a part of your lifecycle marketing model, marketers must be prepared to evolve and start using new marketing technology that drives real-time customer engagement. The brands that will manage this marketing evolution will be the ones to increase their market share and gain a competitive advantage.

According to a recent Forrester study, including artificial intelligence and predictive analytics in your marketing could increase conversion by as much as 80%. And 64% of online shoppers indicate they are more likely to purchase a product that was suggested to them by a brand if they feel the brand selected it based on their personal data. To continually demonstrate you know what your customers need and want even before they do, you need to have an Insight Marketing Platform that utilizes vast amounts of data to create tailored predictive analytic models for each customer.

Using the technology of AI and machine learning is the new norm when it comes to online customer engagement. Any brand, wishing to succeed in today’s omnichannel world and engage with their online customers should already be investing in this technology.​ It is a powerful way to communicate your brand’s commitment to loyalty, and build relationships with your customers and prospects – all in real-time. Know more please visit our blog page : https://www.groupfio.com/how-real-time-marketing-can-benefit-your-brand/