7 Secret insights about Pet Parents
Pet Owners: Secret Insights of pet parents in India Sherlock AI embarks on a cute mission this time. It identifies people who have pets in Mumbai & Pune and understands
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How to convert target audiences into paying customers (through AI)
Next time you search for a pair of shoes online, don’t be alarmed to see the same or similar shoes stalk you, in your email on social media, or wherever you go, online. The trail that you left post your search was picked up through AI and delivered to you in the form of a customized ad. The probability of your clicking on that ad is quite high, and eventually you may end up buying those ‘stalker’ shoes. OTT platform Netflix and digital music service Spotify too are able to gather data based on your online search behaviour across devices and accordingly generate targeted ads on what to see or hear next for higher conversions. Netflix often shows a ‘percentage match’ against the shows or movies which is calculated on the basis of your previous watching patterns.
The Modus Operandi
At Infinite Analytics, we use the unique combination of behavioural data and customer demographics such as age, gender, marital status, income for arriving at target groups. Add to that customer psychographics and we have the perfect recipe to find highly accurate information on buying frequency and preferred brands of customers. We can thus know what the customer wants and when. Marketers often use such insights to encourage customer loyalty. For example, when Airbnb uses AI to provide personalized listings to customers, it leaves little room for them to go to another online marketplace, hence changing the way customers behave due to AI-driven customer satisfaction. Tik Tok‘s grand success is due to their user psychographics which are very different even though the demographics may be similar. Customized marketing communication helps customers convert due to the irresistible and often targeted offers by brands. Uber discount codes are yet another example, which are sometimes offered to select users.
The ‘How To’ of conversions decoded
At the end of the day, using AI on the data collected into conversions is every marketer’s dream. We use Precision Targeting which gives the customer an edge to be able to reach out to the right target audience among the customer segment that actually converts. For the customer, it gives a feeling that the marketer has crafted a personalized experience for them by reaching out with the right message at the right time. AI helps in studying buying habits of the customer for a particular product or service over a period of time. While food delivery platforms like Swiggy and Zomato use AI powered chat bots to address customer queries, online portals like Amazon keep recommending products that customers may like in the future or even add to their current purchase. Past buying patterns also indicate when they may buy the product next, and hence such platforms can offer discounted subscription offers for the same product purchased regularly over a certain period.
We create Lookalike Models outside of Facebook and Google. These mass-use platforms have the edge with inexhaustible data at hand as everyone uses them. Facebook and Google create an online persona of the users by using information fed to use these platforms such as name, age, job title, education, what kind of content/pages you like/follow/search and then share the same data with advertisers for efficient advertising. By creating lookalike audiences we take data points from your client-base and use Predictive Analytics to look at bigger user-groups, and arrive at a customer persona which is quite precise or is the ‘lookalike’ of your best customers.
So as the popular one liner goes, next time you are not able to find the product you want online, just text someone about it. Chances are you will start seeing the ads on Facebook for that product 🙂 Keep coming back to read in-depth information which can help you use AI better. Adios, until next time!
7 mind-boggling insights from Consumer Electronics Store footfalls
What is the brand which comes to people's mind when they think about purchasing consumer electronics- is it Reliance Digital Retail Ltd.? Has Xiaomi Technology finally positioned itself as a premium brand? What is common between multi-brand electronic retailers and the people who visit them? What is consumer mindset of someone who wants to purchase consumer electronics and what other places these people go to and what are their brand affinities like?
Sherlock AI (powered by Infinite Analytics) looks into all the people who visited consumer electronics stores in the month of October and connects the dots. Take a 3 minute journey and understand consumer mindset of electronics buyers analytically!
Gold: Dhanteras Dhamaka leading to 125% footfall surge
Did you know that jewelry stores’ visitation went up by 125% during the Dhanteras weekend? Sherlock AI analyzed all consumers who visited jewelry stores pan-India and revealed that though typical weekend footfall surges in Jewelry shops is around 16%, the Dhanteras weekend contributed to a whopping 125% surge! WHOA!
Indians have always preferred gold as an asset class and an investment vehicle. With Dhanteras being among the most auspicious occasions to buy gold, Indians did indeed flock to the ‘market’ to buy gold.
