Why Real-Time Personalization Is Critical for Survival Online
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, empowered, impatient, demanding and unpredictable. It’s an ever-changing tide of consumer behavior when you consider the sheer volume of options consumers have when in the market for a product or service. Consumers can afford to pick and choose like never before, so personalizing their online experience is one of the main ways you can grab their attention and make their experience memorable.
There’s one survival mantra that businesses now need to stand by: Relevance means Rewards
When a person arrives at your website there are so many unknowns in terms of their intentions. What to buy, when to buy and if to buy. It is impossible to count the amount of intention variables that could sit around a single customer which is why it’s extremely important to deliver relevance from the minute they land on your site.
Be prepared to give them an exceptional experience
The online expectation cuts many parallels with a virtual visit to a high street shop.
Make it feel like your customer has arrived at your high street store for the first time. They are greeted by a free shopping assistant who can help them find exactly what they are looking for, that remembers their name when they come back a second time.This assistant remembers your customers’ likes and dislikes, makes subtle suggestions to other products they may like, shows them what is trending at the moment, offers a discount at the till if they mention the assistants name, sends an email when you have new products that you may like offering a free lunch and coffee when you come back. They know their budget, what they have bought in the past and more importantly, what they will want in the future.
OK, let’s keep this relevant
Real-time personalization is a way to automatically deliver tailored and relevant content to different groups of visitors to your site learning through each interaction and delivering the right content to each visitor in the context of their previous interactions with the brand. Only the best online shopping experiences are going to grab customers attention and keep it.
It’s all available right now
Technology that supports real-time ecommerce personalization is here. Real-time data, analytics, and consumer connectivity have all made it possible to bring new relevance to marketing. By tailoring the digital experience with strong relevancy, you will help your visitors achieve what they want. When you make your customers happy they share, share, share and share some more.
Not only does real-time personalization help reduce a high bounce rate but it also helps move your customers through your ecommerce customer lifecycle. By optimizing experiences by offering relevant products, offers, incentives and recommendations to the right customer segment based on their preferences and brand affinity to date, customer are more likely to remain more loyal to a brand than ever before. Did you know that business’s top 1% of customers are 18 times more valuable than the rest put together. Real-time ecommerce personalization expedites the customers journey into invaluable loyal segment. The goal, improved conversion rates, customers spending more frequently, is achieved.
“My expectation for what I see on billboards are not super high but when my phone vibrates and I see a message, it better be delivering value to me, or else it’s actively destroying the relationship that I have with the brand. The emphasis should be on creating a long-term relationship where there is mutual value through the conversation.” – Bill Magnuson, CEO & co-founder at Appboy.
Searching for a relevant solution
Many ecommerce platforms now offer extensions which allow businesses to introduce an element of personalization onto their sites. These tend to be basic recommender technology which you customise to your brand offering the likes of, “You may also like”, “Most viewed”, “What others are currently buying”. These recommenders are not based on big data machine learning nor are they targeting predefined customer segments. They are mainly based on the crowd which are the trends seen across the site.
What ecommerce platforms don’t do is allow you to create as many customer segments as your business require. In order to keep up with competition, you need to implement relevant and customized recommendations, overlaying relevant marketing campaigns to each of those customer groups with personalized banners, promotions, image carousels and emails including order confirmations, abandoned carts and reminders. For maximum impact and to meet the demands of today’s online consumer these personalization features need to walk boldly hand in hand. It’s important to be able to personalize any area and page of your website from homepage through to your checkout and order confirmation. It’s vital to ensure all pages through your ecommerce funnel are highly personalized to each customer, allowing them to adapt and change in real-time based on the consumers previous actions and behaviors. Don’t let go for a minute. When the experience becomes irrelevant the consumers are gone.
There’s good news and there’s great news
The good news is that retail marketers can immediately integrate machine learning and AI personalization solutions into their current marketing and ecommerce activity, including their existing email service provider. Regardless of the amount of data you have to date, the AI gets to work from day one. Doing so delivers exponential accuracy and better results, which immediately impact your bottom lines.
The great news is that regardless of the amount of data you have to date, the AI gets to work from day one. Real-time personalization does not allow for error as it’s extremely accurate and working to increase your revenue from the very start.
So, if you have been questioning whether there is any benefit to integrating real-time ecommerce personalization into your ecommerce and marketing automation stack, the question should really be whether you can afford not to.
Interested in learning more? Get in touch and we’ll schedule a demo for a time that suits you. We’ll show you exactly how PureClarity works its magic, and you can ask all the burning questions you have about personalization.
From exploring new technologies to try and create a more tailored online shopping experience through to building customer and brand loyalty she has delivered growth targets in all her roles to date.
Jo, as well as loving her morning coffee, has a strong belief that data has become the new business currency and the more insight companies have into their customers behaviour the more they can tailor their marketing and eCommerce strategies to enable growth.