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DM Module Digital Marketing uses technology with an aim to: built …

- - - - Study shows: customers have difficulty in making decisions when they are given more information and freedom of choice
        Too much info:
        
        Evokes more spontaneous reactions rather than well reasoned choices
        
        Leads to lower satisfaction or power choices
        
        Information overload:
        
        Is plausible in the online environment because of reviews/ user generated content with contradicting opinions
        
        Results in uncertainty in choices and tradeoff difficulty
        
        Outcomes of information overload
        
        Avoiding choice/ choosing not to act
        
        Ways to overcome customers' inertia
        
        Provide motivation
        
        Look for goals and aspirations
        
        Provide rewards (gamification)
        
        Remind about hyperbolic discounting
        
        Ignoring information
        
        People exhibiting laziness and akin mindless decisions - why e-commerce is so popular
        
        Can help customers by:
        
        Comparison charts
        
        Tailored information
        
        Confirmation bias:
        
        Natural, psychological bias that seeks evidence to support pre existing beliefs and ignore contradictory information
        
        A concern for marketers because it becomes hard to reach to teach new info about branding to their customers
        
        Ways to motivate customers' learning
        
        Motivation
        Customers get motivated to learn if product
        
        Solves their problem
        
        Offers something better
        
        1 more item...
        
        Ability
        Customers learnability is enhanced by the right cognitive load match
        
        Using combination of cue aids
        
        Selecting appropriate cue aids
        
        Opportunity
        Customers should have the ability to learn
        
        With enough repetition
        
        Using mental shortcuts or heuristics
        
        We rely on quick and ready information for decision-making
        
        We have a natural tendency to make quick decision
  - - - Strategies for improving customers decisions
        
        Decision point theory
        
        Introducing multiple decision points in the customer journey halts auto pilot mode and activates planner
        
        Transaction costs
        
        Providing information or reminders helps halt the mindless behavior and allows for more deliberate thinking
        
        Avatar-based decision-making
        
        Using avatar based communication helps move the frame of reference to a third person perspective, thereby activating rational decision-making
  - - - Use relevant messages: Be prepared to meet customers with the right messages at the preferred time in the preferred format
      - Personalize:
        
        Use customer data in a way that provides value
        
        Earn customers' trust and build a relationship with them
        
        Personalization Strategy
        
        Technology allows customer data collection surreptitiously, eg:
        
        Geographic data by IP address
        
        User behavior data by cookies
        
        Collect opt in customer data
- - - - Micro-target and personalise
      - Narrowcast instead of broadcast
      - Understand customers better
      - Use analytics to test, track performance and optimize impact
      - Use technology to enhance the customer experience