Push notifications that are sent at the right time and convey value to the subscriber lower cart abandonment and increase conversions for the e-commerce brand
Did you know that it costs five times more to attract a new customer than to retain an existing customer? Imagine all the money, time and effort you spend in attracting a new customer who’d visit your store once and then never return.
Alternately, increasing the customer retention rate by as little as 5% can increase your profits by between 25% and 95%, according to research by Bain & Company.
It's no wonder brands focus their efforts and funds on nurturing the relationships with existing customers who’re already buying their goods and services frequently. This in no way means that you shouldn’t market your brand to new customers, which is, of course, vital, but you should also seek to re-engage them.
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Chart of the week: 72% of consumers will only engage with personalized marketing messages, despite 86% being concerned about data privacy
Personalization is becoming more prominent in digital marketing, offering an improved user experience by providing information or targeting ads based on an individual’s activities and interests. In fact, according to a new report from SmarterHQ, 72% of consumers say they now only engage with marketing messages that personalized and tailored to their interests.
Despite this, the same report also reveals that 86% of consumers are concerned about their data privacy. Of these, Baby Boomers and Gen X are the least trusting o consumers, with Millennials and Gen Z being around 47% more trusting than their older counterparts.
This is likely due, at least in part to an increase in high profile data breaches and the…
Take a look at some of the best personalization examples to help shape your web personalization strategy
In our last few posts we discussed that despite personalization being demanded by consumers, brands are facing some significant blockers when it comes to implementing full-scale personalization campaigns. We also discussed how the solution to the problem was to start with ‘essential personalizations’, which work around the blockers rather than try to solve them outright, but still deliver significant value.
In order to achieve the above, essential personalizations:
Require only the simplest integration with current systems, often just requiring the addition of one line of code.
Are tried and tested by businesses in many sectors and have already proven their value.
Enable the quickest return on investment, helping validate personalization for business and secure further investment.
Require a minimal skill set to implement and present a simple and structured way for a team to gain…
Take a moment to recall the last time you received truly exceptional customer service
It’s probably not that easy to remember, right?
Most businesses strive to give good customer service, but very few stand out above the rest for providing great customer service. If you do happen to remember such an occasion, the thing that probably makes it so memorable is the very fact it stood out as being extraordinary (i.e. not the norm).
That check-in staff member who remembered your name.
That shop assistant who went above and beyond to help you find the best product for your needs.
That hotel manager who took the time to ask for your feedback and then gave you a voucher for your trouble (this one happened to me just months ago, and I now talk about it often).
Getting website personalization right is hard and I bet you are sick of being told otherwise
I don’t blame marketers for trying to tell you differently of course. It’s immensely frustrating for them too – knowing just how valuable personalization can be and knowing that it will, in time, become a necessity, rather than luxury, for all brands to offer a personal experience to their customers.
Still, industry folk are frequently told we should be getting on board with web personalization and the many different approaches to execution that have been proposed over the last few years. But (and it’s a big but), rarely does anyone address the fact that most businesses have one or more fundamental and significant blockers in place preventing personalization success (more on this later).
It's akin to asking a member of the public to take part in the World Championship triple jump competition and preparing them by showing…
Many businesses, despite spending a huge amount on driving new traffic to their websites are still experiencing poor conversion rates and lack of insight into their visitors requirements
The growth in consumer demand for real-time personalization is at an all-time high. It’s a fact, customers are not only becoming more connected they are also becoming more informed, demanding and unpredictable.
Given the wide range of options consumers have online, retailers are finding that the key to converting their visitors into loyal long-term customers is real-time AI-driven e-commerce personalization.
Through the use of Artificial Intelligence and machine learning, intelligent e-commerce personalization platforms are able to analyze customers’ behavior, learning their habits and enabling retailers to deliver automated, personalized recommenders within search results, promotional and personalized banners and on-page recommendations in real-time.
Why should e-commerce personalization be the main agenda point?
Provides each customer with a relevant…
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 2019 update where we compare the full range of options from free personalization tools to low-cost and enterprise services across these five categories:
1. Analytics tools based personalization
2. Retail personalization
3. Content or commerce management system personalization
4. B2B website personalization as…
6 months on from the GDPR deadline… have you started to prioritize retention?
For many marketers, 2018 will be remembered as the year of the GDPR.
Despite the long lead up time, plenty of businesses found themselves scrambling to get their house in order ahead of the 25th May deadline.
Consumer inboxes were flooded with re-permission campaigns from brands seeking to retain their marketing lists. And when the dust had settled, many marketers found themselves faced with smaller lists.
But the threat of mass unsubscription didn’t end after 25th May 2018 passed - it just started.
The new rules mean customers now have an ongoing ‘right to erasure’. They can access their details at any time and wave goodbye. And this means you’re going to have to put more effort into customer retention from now on.
In the following blog post, we take a look at the…
Personalizing on a B2B level is more important than ever
Personalization for B2Bs is staggeringly more effective than giving visitors a flat, generic experience. 80% of B2B businesses surveyed said that personalizing their website was more effective when it came to reaching their company’s objectives than unpersonalized content.
But personalization for B2Bs has not been a widely adopted strategy. Businesses say they don’t have the technology, the required data, or even the resources to personalize for their customers on a one-to-one level.
However, just like regular customers, B2B buyers are beginning to expect and even demand relevance at every point in their buying cycle. Mass marketing is no longer applicable. It is no longer the aim to find the message that will resonate with a large number of your customers: you’re looking to find the most important message for each individual buyer.
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…