The growing demands of the online visitor
As reported by Internet Retailer, the projected online global consumer spending by 2019 will more than double the $3.551 trillion of the global spending in 2015, accounting for 12.4% of the total retail sales. It is also forecast that retail giants Amazon, Alibaba and eBay will by 2023 account for 40% of retail sales.
These numbers show that consumer inclination toward online shopping is increasing. However, the gap between what consumers want and what they get is also widening.
Online retailers are having to think outside of the box to differentiate and meet the expectations of their online customers. What was deemed a ‘point of difference’ and ‘cutting edge’ three years ago is now the expected norm. What was once seen as a retailer going the extra mile is now taken for granted. With the emerging new technologies being adopted by businesses Amazon has…
A quick look at the ways personalization should be implemented into your website
Jeff Bezos’s vision for personalizing customers online experience back in 1998 has become a reality for many e-commerce sites and is fast becoming a game changer for online retailers. We have not seen personalization be adopted by many of the non-retail web which is interesting. Many businesses still believe that their homepage only needs a ‘one version fits all’ approach, regardless of the fact that it is the main doorway to their business. Businesses spend vast amounts of money trying to market to their customers on a 1-2-1 level but overlook or misinterpret this approach on their website. This shows there is a massive opportunity being missed
“If you do build a great experience, customers tell each other about that. Word-of-mouth is very powerful.”
- Jeff Bezos
So why personalize?
To understand why personalization is so important, take a look at how…
Product, offer and content recommendation services to help retailers and other businesses nurture prospects and increase conversion
The website personalization tools we recommend in this article enable you to segment visitors and then deliver personalized messages of the 'next best product' or 'next best content' within containers on your website as with the classic Amazon personalized recommendations (read their published methodology from this fascinating whitepaper from back in 2003). I originally wrote this post in 2010 when there were fewer personalization options. I have updated it annually since with recommendations provided via social media - do get in touch if you have a suggestion - TIA!
This is the latest 2017 update where we compare the full range of options from free personalization tools to low-cost and enterprise services across these four categories:
1. Analytics tools based personalization
2. Retail personalization
3. Content or commerce management system personalization
4. B2B website personalization as…
How Personalization, Segmentation, and Optimization work together to create a seamless customer experience
There are three different levels to delivering personalized customer experiences: optimization, segmentation, and 1-to-1 personalization. Many of the ecommerce marketers we speak to are already using one or two of those approaches but haven’t considering how they relate to one another-so we developed a visual we call the Monetate Personalization Pyramid to help visualize the relationships between these three layers.
In this article, we’ll talk you through the Pyramid from the bottom up. If you want to find out more, sign up for Smart Insights and Monetate's Getting Personalisation Right: 10 Best Practices to Improve Conversion webinar.
The base level of the pyramid is optimization. This describes the process of testing different approaches, analyzing the results to identify the top-performing design, and then implementing the winner. You'll know this…