Attended Triggr event today at InstaMedia Noida. It was interesting to hear couple of presentations and thoughts which was majorly focussed on one term “ENGAGEMENT”. I started loving this term especially, as everything revolves around this one simple term. Either your business is online or offline, engagement is involved at first hand once user showed some interest, then comes all other factors. If you succeeds in this engagement, you can turn your business to X folds.
In offline market, you go to shopkeeper to buy something, you showed interest then he starts engaging or recommending things to you, as you might also be interest and we tend to buy most of the times (credibility plays a vital role). If something is unavailable or when you come next time, he remembers what you want, he’ll greet you and engages you more. Now you’ll go to that shopkeeper again and again. Thats how a typical offline businesses run.
Talking in terms of Online context, their is no physical person, companies usually do lot of investment on Suggestions, Recommendations of products if a person shows a interest by saying “people also bought this”, “we recommend you to buy this” etc. to engage the users and converting it into business.
Interesting, met with Nitin Chawdhary, India Head, Tyroo ad network, I really like his presentation on E-Commerce, Engagement and Re-targeting your customers. To explain re-targeting in layman’s terms:
If your customer shows some interest in a product but goes off, next time if you happen to advertise/target him again, about that very specific items he was interested in, there is a high probability that he will buy this time.
According to him, if you re-target your customer around 5-6 times, there are high chances of actual lead conversion. One of the pain points he mentioned in e-commerce is, its very hard to find and target the customer back, once he is gone.
Talking more in terms of offline businesses or online businesses and once you scale re-targeting is hard to achieve, I’m sure technology has its limitations but its achievable on Internet. But re-targeting in physical world is yet missing according to me and in Indian context e.g. If I have an intention to buy a microwave and I go to market and try out couple of stores, how about the store shoots a message back to me (once I left his store) with some offer, to actually convert the lead and the time sales guy invested in explaining the whole Microwave functionality in person. I think enterprises will be interested in these solutions of re-targeting in physical world and simple implementation of this common and complex problem.