As a customer, nothing means more to me than a deeply personal shopping experience, even before I hit the store.
I imagine getting a text message or email right before I’m about to run out of my favorite product, offering an auto-purchase or bulk discount on my next order. Don’t mind if I do!
Studies show that personalization can deliver 5-8 times the return on marketing spend, and can lift sales by 10% or more. That sounds like a great reason to start getting personal with your customers!
In addition, BloomReach Inc.’s data showed that 87% of shoppers surveyed cited personalization as a key factor in whether they spend more with a retailer.
The consumer is telling you exactly what they want, and what they want is retailers who will personalize the experience for them. Google has been a big influence on current expectations for retailers; including dynamic, personalized, and relevant search results.
Data discovery is about sourcing and combining traditional and behavioral data to uncover meaningful insights about customers (such as their preferences, interests, and needs), to find out how often they buy, what they buy, and when they buy it.
Those are the key elements in making the shopping and marketing experience personalized.
So, how do you go about this?
Companies need systems to run advanced analytics to discover useful and practical insights; then have those systems trigger appropriate messaging.
For example – if customer “A” does action “B” then we will send them item “C”
A good system will use customer and prospect scores to trigger personalized ads and landing pages, and to distribute specific content, offers, or experiences across different channels.
For example, someone with a frequent purchase history living in a big city might receive a coupon for a small discount (likely 10% or so).
Alternatively, someone who lives in a more rural area who has yet to make a purchase, but perhaps has visited a website multiple times, might receive a certain amount off their first purchase to entice them to shop and come back.
If your business is having a sale, including a coupon code, you would need to use behavioral data to determine who on your email/text list should get that particular coupon offer.
At the end of the day, if your marketing can make things more relevant and interesting–and the offers become more pertinent to your customers’ situation and what they prefer–they’re going to take action.