Everybody enjoys the experience of visiting a shop and been validated, welcomed and treated with respect and care. Most consumers appreciate when a company or business is able to remember some of their favorite products or when a supplier that the customer regularly uses sends a gift on a special occasion such as the person’s birthday.
We all enjoy and appreciate that personal touch and this is also true when we as consumers experience marketing online. If you had to take the time to account for the progress that has been achieved in the way of personalization over the last 10 years you would definitely be impressed. A few years back customers usually experienced a message from an online website such as “welcome back” or “we have missed you” that made consumers feel like they have been recognized encouraging a way to build up a relationship with consumers.
For the more advanced personalization, the website could even decipher who the visitor is based on the browser cookie or sign in. In these cases the message may extend to the first name basis such as “Welcome back, Timothy.”
However, today there is an abundance of explicit and implicit customer data that is available to the marketers and the opportunities associated with personalization has really evolved beyond recognition. This is especially true when it comes to ecommerce whereby personalization now involves not just welcome messages but also product recommendations such as “if you are enjoying this product, you may like these.”
In some of the other types of industries, the brands like C-Spire make use of social mining that tracks peoples reading habits in order to arrive at more useful personalized content aimed at recommendations to try and ensure a visitor stays on a website for longer. As technology continues to advance into the exciting world of the “Internet Of Things”, developers and manufacturers continue to find clever ways to ensure that the consumer’s experiences of services and products have become far more personal.
Some of these advancements include brands such as Nest that is a type of thermostat that is able to learn the homeowner’s behaviors and then adjust temperatures automatically or the in-flight Virgin Air customization that features vending machines that are able to recognize the customers on a flight. Around 60% of the consumers online say that they like the fact that online stores are able to recognize or remember their purchase information and contact details. In addition, a large portion of the ecommerce customers prefer that a store is able to retain all of their personal information and go as far as expecting personalized services that will recognize their behavioral shopping trends.
What Marketers Are Failing To Do
Nearly every online marketer is aware of the multitude of benefits involved in personalization. They also know that being able to personalize a website makes a better experience for their customers and that all types of marketing is known a good marketing when it has that personal touch.
Research from Econsultancy states that about 74% of the marketers are aware that personalization can increase customer engagement. But at the same time this study highlighted the fact that a mere 19% of these marketers are using personalization. Below are three of the important benefits associated with personalization.
Personalization Boosts Conversions
Personalization has proven to significantly increase conversions. After the joint-venture switchover that occurred in the year 2011, Co-operative Travel has achieved a 95% increase when it came to visitors and about 217% increases in revenues after the implementation of personalization on its website.
Another large brand company known as BMW was also able to net $500,000 in its revenue when they instituted personalizing MMS messages to their 1,200 customers based in the US that improved conversions by up to 30%.
Personalization Increases Customer Retention
It is fantastic to improve on conversions but even better to increase the recurring conversions, retention and advocacy. Further research from Econsultancy revealed that the post-purchase loyalty programs that features personalization offers is a main crucial factor that encourages repeat purchases. This comes as no surprise and customer retention is bases on relationships that are built on familiarity and personalization is able to facilitate and predicate upon.
Personalization Makes Marketing Useful
Today there is major overload of services, products and content online. When offering a personalized experience especially the type that is predictive opposed to reactive, many of the brands have the opportunities to offer needed utility in the abundant world of online choices.
Despite the fact that personalization is often perceived as a gimmick, there are no doubts that it is already thriving. In addition it assists consumers in navigating the busy world of the Internet in a profitable and helpful way.