Time to Get Up Close And Personal With Your Online Customers
Why The Need For Ecommerce Personalization?
Too many retail businesses, despite large customer acquisition costs are still experiencing poor conversion rates, lack of customer loyalty and insight into their visitor’s onsite requirements. If your business has a poor or a static online conversion rate, the high cost to acquire new customers to your site can be a very much a false economy.
More and more retail businesses are adopting ecommerce personalization as a clear way to reach their online conversion and customer loyalty objectives. Here’s some food for thought. It costs eight times more to acquire a new customer than it does to retain one. Over 90% of consumers are more likely to buy from companies who remember them and provide them with relevant offers, products and content than those that offer little or no personalization.
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.
By personalizing the online shopping experience with intelligent AI-driven ecommerce personalization, these conversion issues can easily, quickly and cost effectively be resolved.
What is Ecommerce Personalization?
Ecommerce personalization delivers relevant and engaging online shopping experiences enables businesses to present creating personal interactions and experiences on their online stores by showing content, media, or product recommendations based on the buyer’s previous and current behavior, demographics and customer profile.
The key to effective ecommerce personalization is that it works in real-time which means that the content and product recommendations change as a visitor or customer navigates their way through your online store. The AI can predict which recommendations should be presented and where on your website ensuring the online journey is as relevant as its can possibly be. Coupled up with the ability to overlay marketing campaigns targeting the individual with relevant offers and promotion, adding ecommerce personalization into online store makes for a very powerful online experience.
I have product recommenders on my product page so what else is effective?
You should be able to personalize any area of your website. Your key buying pages are critical, but personalization shouldn’t be limited to those areas. You need to cover your homepage, category listing pages, product pages, basket, checkout and order confirmation emails but this should only be the start. What is no longer considered effective is purely adding static product recommendations on to the product pages. Consider the key landing pages your visitors come in from the campaigns you are running, the results they are seeing in your search drop down and search results pages. In addition, don’t forget those invaluable emails you are sending including those triggering from your abandoned baskets and those incentivising your lapsed customer to reengage with your brand.
AI Automated Recommenders
Automated AI recommenders work 24/7 with no manual intervention. By profiling visitors’ current and past behaviour, the AI can select the most appropriate and relevant recommender type to show to the individual.
Personalisation Within Search
Ecommerce Personalization integrates with your existing website search and assesses what people are looking for. With this information the AI can present either automated product / brand recommendations within your search bar results and on your search results pages.
Manual Personalized Recommenders
These are ideal for those times when you want to push specific products, brands & categories to targeted groups of customers you can override the AI and show tailored manual recommenders. A great way to move excess stock or launch a new product.
By offering relevant promotions and offers you can enrich the experience with personalised banners targeted at the individual based on their past & current behaviour. These campaigns not only spotlight relevant, products, categories and brands but reinforces loyalty and incentives customers to purchase.
Personalization within Email
Ecommerce Personalization enables you to easily include highly personalised product recommendations within your own email campaigns that you include in emails sent through your email broadcast provider, such as Mailchimp, Campaign Monitor or DotDigital.
Is Ecommerce Personalization for B2C or B2B?
The answer is a straight ‘both’. The B2C retail market was the earlier adopter of ecommerce personalisation following the success of the Amazon model direct to consumers, however the B2B market is now following closely behind leveraging many B2C tactics while accommodating the unique aspects of B2B transactions. There are three key differences.
B2B ecommerce personalization allows you to have specific pricing for different customers. This means that your B2B customers will see the price relevant to them in the images, products, brands, categories, merchandising zones and emails.
B2B ecommerce personalization allows you to show and hide specific product groupings to certain client account types. Your customers will only see the products you want them to see. This is important for many B2B businesses who may have license restrictions on certain products that they can sell to certain customers geographically.
Finally, your B2B customers often know the products they want and the brands they want to buy. Ecommerce Personalization allows you to build personalized campaigns by account type, account number and associated buying habits.
How to Measure Success
Effective analytics provided within the software platform will show you which search terms, recommendations, promotions and campaigns are giving you’re the best return. All aspects of ecommerce personalization are fully trackable. Effective systems allow A/B testing, provide performance insights and recommendations and enable you to fully optimize the performance of your online store and email campaigns.So, what next?
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.