Despite understanding the importance of behavioral marketing, today most marketing is based on siloed, narrow views of each customer. In the interest of saving time and resources many marketers are optimizing messaging based on a small range of actions and behaviors – or, in most cases, based on mere demographic info (such as age, gender, or geographic location) that only offers one aspect of who each customer really is. While this kind of optimization certainly allows for broader acquisition efforts – and, in fact, marketers today are still allocating most of their resources towards acquisition – it doesn’t allow for a truly complete and accurate picture of each customer, something that customers appreciate when it’s present. A study by Adroit Digital revealed that 60% of customers notice when ads are personalized, and 89% of those customers respond neutrally or positively to that personalization.
If you’re not engaging each customer in the way that’s most relevant to their unique needs, you’re missing out on countless opportunities for targeted engagement and maximizing each customer’s lifetime value (CLTV). Because not using behavioral marketing doesn’t just prevent success, but it can promote disengagement, leading to many of those acquired customers eventually walking away.
In order to use behavioral marketing to its best effect to maximize CLTV and promote long-term engagement, marketers need to:
Unify customer data across multiple channels
Acknowledge each stage of the lifecycle
Communicate to the customer in the right way at the right time
Behavioral marketing is about using customer-centric initiatives to understand what your customers need from your brand, then ensuring that those needs are spearheading every campaign and engagement opportunity. When customers are seeing that their needs are being put first, they’re more likely to come back – and when marketers are taking a behavioral approach to interacting with consumers, they’re empowered to be more strategic and to hone in on every opportunity for engagement. And taking an active role in your customer’s brand experience is critical to maximizing their LTV.
To learn more about how to maximize CLTV, download our latest whitepaper.