Businesses of all sizes are embracing digital marketing strategies to grow brand awareness, pull in revenue and create impact. However, building a website’s traffic is one thing. Converting traffic into sales is quite another.
Don’t get lost in the noise
In a world where users are constantly bombarded with content and ads that try to sell them something, only the messages with a personal touch will come through.
In the early stages of information gathering and the buying process, the Internet has become the preferred source of information for potential customers. This makes the website of a company one of the most important points of contact for prospects and potential new customers. Online marketing with its many possibilities has also become established over time as an integral part of successful concepts for lead generation and customer acquisition.
When someone visits a website, there is often a clear interest in the services or products offered there. However, according to recent conversion rate studies, only a very small part of all visitors are identified by completing a form, writing an e-mail, or picking up the phone. The rest disappears again and often does not come back. Even the best online presence and great service do not prevent a lot of visitors from leaving a page before the company has the slightest chance to get to know them.
To attract visitors with clearly defined characteristics to their websites companies today have to pay for advertising campaigns run on platforms like Google or Facebook. They can direct visitors from various advertising campaigns to different subsites (landing pages). However, they still do not know the characteristics of the visitors coming from other sources that represent the majority of their traffic.
Businesses are unable to proactively engage with their target customers in real-time, as they remain oblivious to their demographic and psychographic characteristics.
Know your web visitors and turn them into customers
A new and very exciting solution is being developed by a startup called BehaviourExchange. They are working on a service that can understand a web visitor’s demographic and psychographic characteristics as well as their short-term and long-term sentiments.
The project is run by a team of media, marketing, and IT experts, psychologists and Big Data scientists who use AI and machine learning to process gargantuan amounts of data and create personal profiles of web users. Their service will enable businesses to identify relevant consumer segments in real-time. They will be able to identify visitors as they visit their website and engage with them proactively, offering information about the product or service that suits them (i.e. their profile) best.
The platform will be decentralized using blockchain technology and will use its own cryptocurrency (BEX) to warrant safe transactions and incentivize interactions.
Data safety today is a priority
New technologies such as user profiling, artificial intelligence, machine learning and advanced algorithms all form the basis for communicational innovation. Businesses can communicate with their target customers in ways not seen before and companies like Facebook and Google have been exploiting the access to personal data for years. However, recently that data abuse has led to a lot of bad press (remember Cambridge Analytica?) as well as shocking tangible results (Brexit). New regulations (like the GDPR) mean that only the companies that based their business model on the ethical use of data and respect for consumers’ interests will thrive. BehaviourExchange takes care of its users’ data safety by not storing it in the first place. Instead, personal information remains in the possession of the users who can at all times decide whether or not to share it with the platform. That way, BehaviourExchange creates a power balance among web users, businesses, the media, and other stakeholders.