Intent-driven Data Critical for Sales Growth

sasha uritsky

Dec 10, 2015

One of the most central causes of missed growth opportunities and overspending is a failure on the part of businesses to create strategies that are tailored to the intent of the consumer. Recognizing and harnessing visitor intent brings increased engagement with relevant messages and calls to action.

Once a business identifies purchase intenders it can create content that aligns with their needs and desires in order to increase the likelihood of conversion. Consequently it can pick up on pre-sale signals from visitors in the research phase and drive lead-nurturing initiatives accordingly. The ability to identify this spectrum of visitor intent is key to creating relevant engagement campaigns that drive sales.

nmodes has been at the forefront of delivering consumer intent to businesses.

We sort the intents based on conversation topics, called ‘streams’.

Here is a stream of people looking for a hotel:

A stream of people who are getting married:

A stream of people thinking of going on a cruise:

Interested in reading more? Check out our other blogs:

Social Engagement and Sales Accelerate When Using Intent-Driven Data

nmodes delivers consumer intent from social web to businesses. In real-time.

That is, if your company is selling cars we will connect you with potential customers out there that express intent to buy a car.

nmodes has partnered with a medium-sized travel company to help grow their social web sales channel. Our approach is to deliver consumer intent relevant to the company (people planning vacations, going on trips, flying to various world destinations, etc) and develop engagement strategies maximizing the impact of this consumer information.

Here are the results based on 4 months of data:

• The most efficient way to achieve short-term sales turned out to be individually targeted promo campaigns. For example, our travel partner created an attractive vacation destination package, and nmodes helped to spread the word on social media to those intended going on vacation.

A typical conversation start leading to promo offering. nmodes intent-based solution made it especially easy to target only relevant end users:

• The response rate varies geographically.

Canada - 20%

USA - 64%.

• The conversion rate is consistent across all locations and is slightly above 4%. When concentrating on vacation packages we were targeting 20-50 prospects daily, resulting in 2-4 sales per week, averaged $15,000 /mo or $200,000 /year.

• The potential for this particular market segment (all-inclusive vacations) in the US is at least x10 higher.

• The engagement was based on the combination of intent-based data and location data.

An intent-based sample for European destination package, travelers from USA:

While working with companies from various verticals we proved that intent-based data paired with location data offers a powerful opportunity to drive sales aggressively and accelerate business growth.

nmodes is best equipped to ensure that your business can benefit from this newly available power.

MAKING AI MAINSTREAM

We are experiencing a strong demand for conversational AI solutions. It is coming from every corner of the B2C market. It is growing by the day.

Conversational AI is becoming increasingly popular among the consumer facing business community. It is easy to see why - AI offers sales and customer service scalability and therefore is critical for the long-term success of a business.

Conversational AI solutions such as chatbots, voice bots, and virtual assistants provide much needed speed and efficiency, in an age where the rapid advancement of technology makes them virtually the only sustainable customer service solution.

Bu there is a catch - AI is complicated. Mainstream businesses do not have in house AI expertise. And it is not part of their business model to develop such expertise.

Today’s market offer several good conversational AI solutions, such as IBM Watson or Google DialogFlow. However, getting a business value out of them requires the very AI expertise that mainstream companies do not possess.

So what can be done?

Any AI solution should follow these three steps in order for the mainstream business community to fully benefit from it:

Conversational AI should come as a service,
The service should be available in natural language,
The service should be fully personalized.

In the next several posts we will explore how the AI industry, including nmodes, is moving towards achieving these goals.