November 19, 2018
Next Best Action Marketing
What is next best action marketing?
Next best action marketing (NBAM) is a customer-centric marketing approach that evaluates a customer’s behavior and interaction with a brand. By analyzing a customer’s past actions, interests and needs, marketers use NBAM to decide on the best action to achieve business objectives.
NBAM aims to identify the next sequence of steps a customer will take in their journey with a product or service. Marketers create content to target customers at each stage of the customer journey to drive awareness, engagement and conversion.
Marketers use the technique of customer journey mapping to visualize the customer experience. With the addition of marketing automation software like Autopilot, a marketer can automate the customer journey, sit back and watch customers flow through each stage of the sales funnel.
According to a Google, no two customer journeys are the same. Because of this, marketers need to understand their customers on a deep level and devise a plan that reaches them wherever they are.
The goal of an NBAM marketing strategy is to convert users into paying customers and repeat buyers. Marketers use this strategy to drastically improve the performance of sales teams and prevent customer churn.
The experience and journey of your customer is unique. Implementing an NBAM strategy shows that you acknowledge who your customers are, where they are and what they want. Use this marketing technique to shift your business’s focus back on your customer and lead them on the personalized path to purchase — a path they need and expect.
How to implement a NBAM strategy
Creating an NBAM strategy doesn’t take a data scientist or developer. With marketing automation software, you can implement and automate a strategy all by yourself.
An NBAM strategy includes the following elements:
- Customer modeling
- Predictive analysis
- Customer targeting
- Customer journey mapping
To set yourself up for marketing success and achieve an NBAM strategy follow these five easy steps:
Track your customers
To predict your customer’s next steps, you need to know the past actions they have taken. Quantitative data analysis gives you the information you need to see exactly how people are behaving on your website. This means tracking key metrics through an analytics platform like Google Analytics or Heap.
Segment your customers
Segmenting your customers into groups based on criteria is essential for delivering highly personalized and targeted messages. Segment is a tool that allows you to trigger messages based on user events. You can segment your leads in your CRM into any combination of field values, behaviors, list memberships and more. Combining Segment with a marketing tool like Autopilot allows you to automatically add customers to journeys when they meet any predetermined criteria.
Automate the customer journey
Based on what you now know about your customer, map out all the actions they will take with your brand at different stages in their journey. With Autopilot’s blank canvas, you can design personalized customer journey maps by connecting triggers, actions and conditions. Design an entire customer journey that gives you control over your customer’s decision-making process.
Forecast Customer Lifetime Value (CLV)
CLV predicts the total revenue a business will make from a single customer. It’s used in an NBAM strategy to determine the long-term impact of each action a customer takes. You can calculate the CLV of your customers using the equation in our Marketing Automation Dictionary.
Create personalized content
At every step of the customer journey, ensure you have a suite of personalized content ready to go. For those high-value customers create specific pieces of gated content like an eBook, how-to-guide or even a product demo. With Autopilot’s Twilio integration, you can also send localized SMS and speak to customers beyond email.
Today’s marketing automation software surpasses “batch-and-blast” emails and hard-to-use NBMA software. Stop wasting time sending manual, generalized messages. With Autopilot, you can deep dive into your customers and automate an NBMA strategy that will optimize the customer journey by predicting the 'next best' action for every channel and touch point.