What is next-best-action marketing?
Definition of next-best-action marketing:
Next-best-action marketing is about being able to offer a relevant product or service to a customer if they’ve already said no to something else.
The point is, we’ve all passed up on a deal only to be offered something identical further down the line.
If we’ve said no once, has something changed now?
No, probably not.
So businesses that repeatedly advertise the same things in the same way are wasting everyone’s time.
Next-best-action marketing aims to resolve this issue. By intelligently building on the information available, some companies can offer something more apt.
Imagine you’ve just bought a new washing machine.
The retailer offers you insurance, but you say no. It’s too expensive and if anything does go wrong, it’s the same price to buy a replacement.
If that shop contacts you in 6 months’ time and asks if you’d like to buy insurance, the answer would still be no.
But suppose they offered a cheap tune-up service?
That’s completely different.
It’s the next best thing… and the retailer still makes money.
Definition courtesy of Splash Copywriters