Personalized marketing, as we know from our experiences as brand-lovers and as marketers, is the make or break of any e-commerce marketing strategy in a competitive environment
Personalized marketing is all about offering improved user experience (UX) by serving relevant content, or targeting key messages in the funnel, based on your customer’s e-commerce activities and behaviour. Personalized marketing unlocks tactics for retailers to form personal relationships with their customers during their online experience (CX), to nurture leads and drive more sales from digital marketing.
According to SmarterHQ, 72% of consumers say they now only engage with marketing messages that are personalized and tailored to their interests. And with competition at an all-time high, value added by personalized marketing is exactly the tactic your retail/e-commerce marketing strategy needs.
Despite this, customer security and privacy concerns are at their peak. A McKinsey 2020 consumer-data report…
Showing the variation in the decision process within different international markets
Luxury brands are on an upwards trajectory, with a recent McKinsey report showing that online sales are expected to double in the next 5 years – from the 6% to 12% in 2020, before tripling in 2025 to 18%. It's easy to see that the world of digital is currently, and will continue to impact the luxury goods market.
McKinsey discussed the impact of Digital on the Luxury goods market and unearthed some interesting data about how the buying process differs between different countries. When intending to make a luxury purchase, we automatically default to thinking about pre-selected brands, of which 75% of the purchases will come from. Once deciding upon the brands, customers will have multiple touchpoints, or interactions, with brands before making the final decision to purchase.