In this age of multi-touch-points, don’t you worry about the recent SMS price hike
Sandra was contemplating gifting herself a diamond pendant for her 30th birthday. She started browsing through a couple of popular websites. For a moment, she was lost like Alice in Wonderland, rather she became Sandra in Diamondland.
However, as fate would have it, with several loose ends to be tied at work by the end of that week, she forgot all about the diamond pendant.
Well, she thought she had forgotten when all at once she realized she couldn’t.
Brand X followed her. When she was online, visiting various other websites, through the corner of her eyes she noticed diamond pendants appearing and disappearing. They followed her like a lost puppy, looking for its master. The power of re-marketing!
On Facebook, Brand X followed her. Though she didn’t click on their Facebook ads, she was already curious to know more. She checked out their FB page. As she was in a hurry, to get updates from the brand, she clicked ‘like’ on their FB page.
That was it.
Whenever she scrolled down her FB feed, she couldn’t take her eyes off their beautiful designs. Their latest designs showcased on FB were too alluring that it led her to their website again. She gave in- and, subscribed to their push notifications.
After a few more minutes on the brand X website, as she was hard-pressed for time, she decided to exit. Just when she was about to close the browser, there appeared a pop up featuring the benefits of signing up. Well, she signed up!
Lo and behold, brand X was happy to get her email id.
One step closer.
Sandra would check her email multiple times a day. The 10% discount on first purchase lured her. The emails with top-trending designs and recommended designs (based on her browsing history) kept her engaged. She clicked on the email link, and there she was.
Tumbling down the rabbit hole of intricate designs, once again she became Sandra in Diamondland. The designs showcased were suggested based on her browsing history on the brand X website. Things at work kept nagging her, and she abandoned her cart in a jiffy as she was pulled into the conference room for an emergency meeting.
The abandoned cart held promise. For brand X.
It was an opportunity.
Just before she locked her screen, she noticed a pop-up. In a flash, she saw it was an attractive offer. She didn’t have time to look through the details. She had to rush.
Sandra is just one among the thousands of cart abandonment cases in the world today. The typical cart abandonment rate for online retailers varies between 60% and 80%, with an average of 67.91%. But for smart brands like brand X, it presents an opportunity rather than a loss.
Brand X has had reasonable success with smart cart engagement automation tools. Over the past one year, they had successfully nudged customers like Sandra to purchase more items by suggesting additional items based on their cart value and products. On other occasions, they would show what other customers bought. Another strategy was to lure them to consider limited offers.
In a few hours, Sandra was back at her desk. Wanting a break from the long meeting, she unlocked her laptop and was excited to look at the offer at hand. Well, how could she refuse?
She contemplated to buy a diamond pendant and now she was buying a pendant and a matching pair of earrings too! Brand X’s marketing automation tool made a smart win-win move- it offered her a combo-deal that she couldn’t resist. While it fulfilled an intelligent up-sell strategy for brand X, it delighted a potential buyer.
Brand X succeeded in not only converting a cart abandonment into a sale, but it also created relevance at the right moment.
Well, we started with the SMS price hike and look where we are!
Effective May 15, 2018, there has been a recent hike in bulk SMS rates. Indian telecom industry has witnessed several changes during the past few years. In the past one year, the A2P messaging industry has been impacted. Right from the entry of big players offering data at unheard of rates to the consolidation of smaller players and exit of a few others, the industry is transforming.
The result? A price revision from the operators.
There has been a gradual increase in prices over the past one year, however, some bulk SMS providers were absorbing the increase in their input cost. However, from May 15, 2015, the price has been revised to account for the hike in SMS operator pricing.
The hike in SMS pricing will lead to marketers prioritising their SMS campaigns and putting in more thought and strategy to engage users meaningfully. While many marketers will continue to use SMS, they would focus on developing more customer-behavior based communication, unlike a thoughtless bulk approach.
There is another underlying takeaway. From this SMS price hike.
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SMS price hike is not the end of the world.
An argument in support is the decreasing cost of data.
With data being offered at costs cheaper than ever before, there is a paradigm shift in user preference. With users embracing channels like instant messaging, voice/video calling apps instead of legacy channels, online sales are poised to grow over the years. Close to 329.1 million people are projected to buy goods and services online in India by 2020.
In the light of these new developments, smart marketers are looking for path-breaking ideas in marketing automation, exploring emerging technologies like AI, predictive intelligent emails etc. to reduce their marketing spends and create better opportunities to drive engagement and increase lead generation.
In the case of an elusive prospect like Sandra, cross-channel notifications helped brand X keep in touch with her. To remind her at strategic intervals about her intent to buy a diamond pendant. It created opportune moments to engage her.
Starting with the launch of Chrome Browser Push Notifications in April 2015, now they are enabled in desktop and mobile browsers from Safari, Chrome and Firefox. This means a market reach of 75%+, based on browser market share, and the impact of push notifications cannot be ignored.
Brand X’s intelligent exit-intent and cart-recovery technology helped engage Sandra and creatively encouraged her to take the next step – to make a purchase. Its clever opt-in forms added Sandra to their database of prospects first and first-time customers next.
Sandra felt the emails that she received from brand X were very relevant. With Predictive Intelligent Emails using machine learning technology, brand X sent her individual product recommendations and top trending products along with a few select automated cart abandonment triggers.
One brand. One customer. Multiple touch-points.
If you have been impacted by this recent hike in SMS pricing, don’t worry.
15 years ago, a consumer used two touch-points to make a purchase, while today it has grown to six or more touch-points. We can help you engage with your prospect or customer through various online touch points, reduce your marketing spends and maximise the returns from your brand.
If you would like to know more about our marketing automation suite, if you would like to engage prospects like Sandra meaningfully, give us a call or drop us a line.
0091 484 2989026
Always happy to help.