Next-Best-Action Marketing

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Next-best-action marketing aka best next action or next best activity or recommended action, is a customer-focused marketing paradigm that considers the various actions that can be taken for a particular customer and then decides on the best one among those actions. It could be an offer, proposition or service which is determined by the customer’s interests and needs on one hand, and the organization’s business objectives and policies on the other hand.

Next-best-action marketing strategy is in sharp contrast to traditional marketing methods where a proposition for the product/service is first created and then they make an attempt to find the interested and eligible prospects for that proposition. This practice, typically automated as a campaign management tool, is often product-focused and usually always marketing-focused.

This approach requires professionals to collect data about customers using different methods. While this might take the form of simple interactions between the customers and employees, customer data can be gathered with different “inbound” and “opt-in” methods.

Businesses that engage with individual customers like those who sell goods use this marketing approach in their marketing plans to determine how they can build brand loyalty during a sales conversation.  It can also be used to determine if the resources dedicated to pursuing a sale to an individual customer are worthy enough or not. For example, car dealerships use next-best-action strategies to speak to its customers to find out if they are interested in buying or not. Here, they study what kind of features the customer is looking for in cars, amount to be spent on buying a car, etc.

Rajagiri Centre for Business Studies is one of the top-listed b schools in Kerala offering you a choice of post graduation courses like MBA, MHRM, PGDM, IMBA etc. Located at Kakkanad, this top business schools in Kochi offers you an unmatched infrastructure facility, quality education, better hostel facilities and good placement assistance. Rated as the leading business school Kochi  Rajagiri promising you a bright career life ahead.

To Know More   https://rcbs.rajagiri.edu/

Location: Kerala, India

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