Today’s shoppers have immediate access to product information at their fingertips.
Competition is plentiful and fierce, so retailers must differentiate themselves to be top-of-mind.
To be that “go-to” store, retailers increasingly must create personalized experiences that appeal to an individual’s desire to be valued and sought-after.
Retailers must leverage the customer data they have — or should have — to create that unique environment.
Intelligence on customer preferences and their interactions must be accessible and actionable; in other words, if you have information, use it. Analyze it.
And interpret it through the prism of providing a top-notch retail experience.
Why? Because it’s profitable.
Customers report that meaningful personalization does increase spending.
Retailers using personalization strategies experience revenue gains of six to 10 percent, a rate two to three times greater than other retailers, Boston Consulting Group research reports.
Here are three ways to get personalization right:
1. Create personalized marketing campaign around product usage
Consider how your products or store can help customers achieve their goals.
The data that helps you determine which products customers may be interested in will also help you figure out why they need those items.
That knowledge will help you craft an individual message to every shopper.
Sometimes a group message is appropriate, but most often, the more you treat your customer as an individual with unique needs, the better you can illustrate your brand’s respect for individual customers.
2. Use detailed customer data to meaningfully personalize teasers, promotions and discounts
Communicate through data-driven email.
Personalizing messages requires email segmentation, analyzing customer data and creating a 360-degree customer view from a centralized database.
However, although email list segmentation has proven to lead to higher sales rates, half of marketers surveyed by Tune said they are not segmenting their email lists and less than nine percent of marketers said they aggregate their data within a single system of record.
Targeted email marketing is very successful; 47 percent of marketers told Emma’s 2017 Email Marketing Industry Report that email generates the most ROI for their organizations.
To take full advantage of email’s potential, retailers can send personalized teasers, promotions and discounts to loyal shoppers as well as prospects, in addition to those who’ve abandoned their shopping carts.
3. Engage consumers at key moments in their shopping experiences with push notifications
Text notifications can push shoppers through your door.
Research has found that 57 percent of shoppers spent more money at a retailer after receiving a notification.
An even more impressive figure is that 68 percent of consumers reported an impulse buy after receiving a notification.
Sending push notifications effectively helps boost sales by engaging consumers at key moments in their shopping experiences.