3 Ways Personalization Can Boost Retail eCommerce Revenue
How to increase sales with email marketing, automation, and website personalization
The eCommerce retail market is competitive. If you want to stand out, you need to offer more than just better products and lower prices.
Consumers are looking for an outstanding brand experience. One of the best ways to meet their expectations is by delivering a personalized shopping experience based on insights generated from customer data.
The good news is that today’s marketing technologies have made collecting and utilizing consumer data very feasible and cost-effective.
Here’s how you can use marketing personalization to boost your retail eCommerce revenue:
1. Create personalized email marketing campaigns
Did you know that a well-executed email marketing campaign can deliver an ROI of up to 3,800%?
Even with so many digital marketing channels vying for consumer attention, email is still one of the most effective ways to reach your customers. Many marketers recognize the ability to target email content as the key to increasing click-through and conversion rate.
Consumers consider personalized and relevant content a must when receiving communications from brands.
In fact, 86% of shoppers who have experienced personalization believe that it influences their purchasing decisions to some extent while personalized emails generate on average 6x more revenue than non-personalized email.
2. Guide customers down the sales funnel with automation
When a prospect joins your email list, they’re showing interest in your brand and products.
However, many aren’t ready to make a purchase right away so you should take the opportunity to deliver targeted information that will nurture your relationship with them and accelerate their journey down the sales funnel.
Besides their names and email addresses, you can also collect information that’ll help segment your list. This will allow you to deliver targeted content and offers through different email workflows to increase engagement and conversion.
In addition, you can set up automation to deliver specific content based on user behaviors. For instance,
- An email can be triggered when the recipients click on a certain link in an email.
- A reminder can be sent when a registered customer leaves some products in their cart.
- A special offer can be delivered to promote related items when a visitor shows interest in a product but doesn’t make a purchase.
3. Personalize website content based on purchase history and real-time behavior
Customers are fed up with irrelevant content on eCommerce websites. 75% of consumers said they’d be more likely to buy from a retailer that recognizes them by name, recommends options based on past purchases, or knows their purchase history.
There are many ways to deliver targeted content and generate product recommendations on your eCommerce website to increase conversion rate. Examples of these include:
- Offering product recommendations based on a customer’s past purchases, preferences, and habits.
- Displaying relevant or related products based on the visitor’s previous browsing sessions or real-time shopping behavior.
- Displaying content and products that are relevant to the visitor’s geographic location.
- Delighting frequent buyers and loyal customers with exclusive offers and discounts to boost customer lifetime value.
- Creating specific landing pages for your social media and Adwords campaigns to deliver a targeted and consistent user experience.
Customer data – the foundation of effective personalized marketing
The success of personalization marketing strategies hinges upon your ability to extract meaningful insights from your customer data and apply them to your campaigns.
To build a strong foundation, you need a powerful data management platform (DMP) to manage your customer data and a sophisticated “decision engine” to help turn the information into actionable insights.