The Gift That Keeps on Giving
If there is one gift that you can give your business this Christmas, it’s the guarantee of fantastic Christmas revenue that will be generated by using Ecommerce Personalization.
What is Ecommerce Personalization?
In a nutshell, Ecommerce Personalization technology software, such as PureClarity, is built on AI ad Big Data technology. It collects data about every one of your visitors, tracking their interactions with you onsite and offsite to build up a picture of their behavior, their dislikes, likes, interests and habits. This information is then used to present relevant and personalized results which change in real-time according to click and search behavior. Visitors can enjoy relevant, specific product recommendations, offers and promotions without seeing any of the same content, guaranteed to increase your average order value and conversion rate.
So Why Start Now?
Christmas for many retailers has always been earmarked as one of the key annual buying seasons and in general a lot of work has been invested in the 8 months prior, researching, merchandising, packaging and digitising their product range online in time for December. But the reality is the Christmas push in starting earlier each year. The recent emergency of Black Friday and Cyber Monday (in 2019 diarised as November 29th and December 01st), now claim to be the biggest shopping events both in the UK and the USA and have most definitely been established as the start of the main Christmas shopping period. By integrating ecommerce personalization into your website now in October, you will give your business a massive head start in optimizing it’s performance. Ecommerce Personalization is not just for Christmas but it’s a great chance to show you the power of what it can do.
Are You Listening to Your Customer’s Needs?
You have heard it before, and you have seen it for yourself that customers online buying behaviors are changing. They are brand fickle, demanding and impatient when shopping online. Customers prefer to buy from websites that offer a highly personalised experience. You may be spending a vast amount of your budget on acquiring new customers to your website only to find that those visitors are not converting into a sale.
80% of consumers are more likely to do business with a company that offers personalized experiences. Websites that reward them for their custom and predict what else they may like, introduce new lines and make extremely relevant recommendations for products that they are searching for are much more likely to convert and see an increase in online sales and average order value. Ecommerce Personalization is the elastic glue that makes your visitors stick until they have bought and brings them back for more.
The Competition is Fierce
The great news for ecommerce businesses is that online sales as part of total retail sales is growing year by year forecast to account for 50% by 2028. The not so great news is that as we know it’s an increasingly competitive market not only in terms of the numbers of competitors but in the price ranges available to buy online for similar products. There are key ingredients to Amazons growing success. One of the key factors to Amazons growth is that from the start it has used intelligent ecommerce personalization to convert at the rate it does.
Brands like yours need to maintain headcount and margins. With ecommerce personalization tasks that are manual and time consuming right now can be offloaded to Artificial Intelligence where efficiencies and personalization can be effectively managed delivering best-in-class experiences across all channels. Personalization can increase the efficiency of marketing spend by 10% to 30%.
Four in five (80%) companies report an uplift since implementing personalization.
The chances are that your main competitors have already adopted or are in the process of integrating ecommerce personalization into their websites, so why risk leaving your business stood out in the cold. It’s time for you to take action!
You Need to Stand Head and Shoulders Above Your Competition
So, in these increasingly competitive trading times what is going to make your website stand out from the crowd? What’s going to make your website more appealing that the others and what can you offer this year to make your shoppers become loyal long-term shoppers and maximize Christmas revenue?
The answer is easy – AI-Driven Ecommerce Personalization. The technology that allows you to offer your customers a highly relevant and personalized shopping experience just for them.
How Easy Is Ecommerce Personalization to Use?
The beauty of Artificial Intelligence is that once integrated, is fully automated and can get to work straight away without any intervention from you. You can sit back and relax (as best you can when you’re working) knowing that the AI is working hard to ensure that each of your website visitors is seeing product recommendations that are personalized and super relevant to what they are looking for. Ecommerce Personalization with PureClarity comes with a default number of customer segments that get to work straight away.
With a little time investment (and we are talking no more than a couple of hours a week) you can refine your customer segments and get more granular and tailored to your customer profiles (see below). You can enrich the automated AI with personalized marketing campaigns that show the right products, promotions and offers to each of your customer segments based on any rule that you want to set up. At PureClarity we have clients who rely heavily on the AI for all their personalization and in a matter of a month have seen amazing results. The French Bedroom Company has seen, purely from the use of AI driven recommenders on the homepage alone an increase in conversion of 15.4% in a 7 week period.
What If I Only Have Low Visitor Numbers at The Moment?
Without any intervention you can start to reap the rewards of ecommerce personalization from day one. Even businesses with low traffic volumes and data sets the AI can effectively start to personalize your site based on what it has learnt not only the behavior of the individual, what they are searching for and clicking on, also from the trends of the segment your customer sits in i.e. first time visitor, and finally from the trends on your website as a whole, i.e. best sellers and trending products.
What makes AI-driven Ecommerce Personalization Recommenders Different?
The chances are that if you are showing recommenders on your homepage and product page then these features have been included with the ecommerce platform you are using. Take Magento for example who offer you the ability to add standard recommenders on both the homepage and product page. What Magento doesn’t offer you is the ability for you to place recommenders anywhere on your website. There are key decision pages within your site that when have recommenders included will massively increase the chances of conversion and a higher spend. These include but not limited to, your search results pages, your basket and your checkout.
One of the other key benefits of AI-driven recommenders, like those driven by PureClarity, is that they are run in real-time. Recommenders will effectively change with each customer search and click made on your website adapting in real-time to ensure that each recommender is highly relevant to each page and customer journey. Coupled with that, AI-driven recommender engines orchestrate which type of recommender to present on each page of your site for maximum conversion and avoids any duplication of products shown. A truly unique and effective customer experience. Click here to read more on the key differences between standard and AI-driven recommenders.
Just How Personal Can You Get on Your Website?
The fact is, that with intelligent ecommerce personalization the sky truly is the limit. Each business is going to have a very different customer profile base and customer segments. Some businesses may want to be as granular as targeting customers based in Edinburgh who have clicked on a certain brand for their last two visits within a certain time frame, added to basket but never purchased. This level of granularity is possible with ecommerce personalization.
The fact is you can enhance the 1-1 personalized user’s experience using variables to promote and market to the individual. If there are multiple criterias that makes up your customer profiles, with ecommerce personalization it is easy to segment your message to target each of those profiles individually. Here are some examples of the criteria (but not limited to) that you may be looking at.
- Weather and Season
- City and Location
- Current and Past Browsing Behavior
- Current and Past Buying Behavior
- Purchase Behavior
- Cart / Basket Contents
- Age and Gender
- Time Habits
- Likes and Dislikes
- Email Campaigns
- Adwords Campaigns
- Visitor Device
Even better is the ability to set rules within your ecommerce personalization platform about what products and promotions to show and when. To make this clearer to understand here are a few ideas of the basic customer segments that can be implemented on your website for each of the zones (e.g homepage banner ad) that you want to personalize. There are no limits to the number of segments you can set up. Some of the basic segments may look like the following:
- First Time Visitor
- Returning Visitor – No Purchase
- Returning Customer – One Purchase Etc.
- FIRST TIME VISITOR
- Never Bought
- VIP Customer
- High Spender
- High Ticket Item Buyer
- Abandoned Cart Customer
- 3 Months Since Last Purchase
- Off – The – Grid ( Lost Customer)
Once you the basic segments set up that you need for your website traffic then it’s easy to get more granular if needed. A few examples could be:
- Brand and Category Preferences
- Previously Viewed Product, Brand or Category Not Yet Bought
- Previously Bought Product, Brand or Category
- Past Searches
- Past Search But Not Purchased
So How Do You Get Personalization Ready in Time for Christmas?
By integrating ecommerce personalization software into your website in October you will start to see the revenue growth in the same month. The software can be set up in matter of hours if you are using Magento, Shopify or WooCommerce, as there are approved market plugins available, and a couple of days for a Custom Build website. Once integrated the AI gets to work from day one as mentioned earlier, and you will start to see the benefits straight away. There is no time investment needed if you want a hands off approach and let the AI run on its own. If you choose to overlay personalized marketing campaigns on top of the AI, then you are looking at investing one to two hours of your or your teams time a week.
In a period of a couple of weeks the AI will have built up a large amount of insight into what your customers are looking for based on their visitor segment, purchasing behaviors, source of traffic etc. In no time at all your website will be showing you a positive return on investment.
How Much Does Ecommerce Personalization Cost?
As a retailer we know that any decision in new software technology needs to warrant a good ROI. You will know the time and cost your business has invested to date into customer segmentation, data analysis, product selections for recommendations and targeted website marketing campaigns. Manual analysis and data manipulation are no longer an economical use of your or your teams time. I am sure there is a huge list of other tasks they could be working on.
There are several ecommerce personalization providers in the market and the price range for services provided by these businesses is huge. Smaller and mid-market businesses will find it hard to justify the prices of some providers and may be reluctant to pay set up fees and a cost per feature used, a monthly commission on the revenue generated by the software and sometimes hidden costs that were not explained from the outset. It all adds up to a hefty monthly invoice.
Software providers such as PureClarity have created a much more affordable and extremely transparent pricing model. Their pricing starts at $299 a month and that includes everything. It includes using all personalization features, no commission, no set up costs, no onboarding fees, nothing.
The price is based on the number of monthly page views you website has. It’s also fully scalable so when you have a month of low traffic you will be charged the lower tier of pricing. What’s even better is that there is no long term 12 month contract to sign into like many providers require. A month’s notice is all that is needed if necessary.
A Final Thought
We are less than 2 months away from the Black Friday launch of the Christmas season, so if you act now to implement Ecommerce Personalization into your website in the next couple of weeks, you’ll be Ho-Ho-Ho’ing all the way to the bank with your Christmas revenue.