Understanding the Next Best Offer (NBO)
Objective: Keeping customers engaged by anticipating or even creating the desire for their next purchase.
“Unsubscribe.” It’s a word every business owner dreads. What if your marketing efforts backfire, and you actually push people to leave your list? You can prevent that possibility with this one tip: Always offer value.
Just keep in mind that value means more than money. Sure, everyone appreciates a discount code, but saving 10% isn’t the main reason customers walked through your doors. They wanted to benefit from the specific products or services your company offers.
Chances are, they may have other needs for your services or products beyond that most recent purchase. To understand what customers might want to tackle next, you need to understand the benefits of the Next Best Offer (NBO).
Simply put, the NBO is a way to create a demand for your products and services, offering customers something they didn’t even know they wanted until they saw it in your email or text.
The industry term for this concept is “predictive analytics,” but you don’t have to be an expert in data analysis to use it. Just take a look at the audience filters in your contact list.
Here, you can sort customers based on their recent workshop or purchasing activity and find clues to help you deliver a targeted message. Anticipating customers’ next project or purchase with the NBO is the perfect way to deliver value and drive them back to your business once again.