Increase eCommerce Conversion this Holiday Season with Personalization

3 key strategies to make more sales on your website with personalization strategies

 

Did you know that 72% of consumers find that online gift shopping has made life easier during the holiday season?

As a retailer, you can’t afford to ignore the various ways that eCommerce can boost your online sales.

In particular, personalized marketing technologies allow brands to engage with consumers online and increase conversion rates. Here are three effective strategies to increase your eCommerce conversion rate this holiday season:

 

1. Optimize website user experience with personalization

Shoppers that engage with personalized website content are more likely to convert. Research found that even though visitors who clicked on product recommendations accounted for only 5% of clicks, those clicks represented 30% of Cyber Week revenue.

You can deliver a personalized experience by displaying relevant content based on a customer’s preferences, browsing behaviors, and purchasing history while augmenting the shopping experience with features such as wishlist, past purchases list, and personalized gift guide.

In addition, you should leverage existing customer data to streamline the checkout experience, reduce cart abandonment, and optimize conversion rate. For example, by pre-selecting options based on customers’ past preferences, providing one-click checkout using existing customer data, and pre-filling forms using information from customer profiles.

 

2. Promote personalized offers with Email Marketing

Email marketing is a great way to engage with your email subscribers and customers who are already familiar with your brand and therefore, more likely to make a purchase.

Leverage your customer database and segment your email list to send emails with offers tailored to specific groups based on their past purchases, customer lifecycle stages, or other data such as preferences, interests, geographic location, and demographic data.

You can set up behavior-triggered workflows, which are initiated by how recipients respond to your previous emails. You should also leverage email retargeting — which can help eCommerce websites increase their revenue by as much as 400% — to re-engage visitors who came to your site but didn’t take action.

 

3. Implement an Omnichannel Personalization Strategy

While 86% of consumers would make an in-store purchase, 75% also order gifts online. Instead of engaging with a brand on one specific channel, consumers do so via a variety of touchpoints — whenever and wherever that’s most convenient for them.

Multichannel shoppers tend to spend more per transaction, so it’s important for retailers to be present in multiple customer touchpoints so they can engage with shoppers at the right place and in the right time.

To increase the effectiveness of your omnichannel marketing strategy, use a customer data management tool that collects customer information so you can understand how shoppers engage with your brand. You can then generate insights on how to deliver the most relevant offers through each channel based on customers’ real-time interactions with your business.

 

Implement your eCommerce personalization strategy at scale

Personalization marketing is a proven way to increase eCommerce conversion rates. In order to implement this strategy at scale, you need the ability to fully leverage all customer data so you can deliver the most relevant content and offers.

Our customer data management platform and its syndication layers, which enables real-time acitiviation of content and offers on multiple channels, allow you to effectvely engage your customers by leveraging the power of personalized marketing.

Request a demo today to see how our solution can help you increase eCommerce conversion this holiday season.

How To Use Email Personalization To Increase Customer Lifetime Value (CLV)

3 ways to use personalized emails to get customers to buy more from you

Customer lifetime value (CLV) is a metric closely related to the profitability of a business.

It’s a measurement of customer loyalty and how well you’re catering to their needs so that they buy from you again and again.

Why’s that important?

The cost of acquiring a customer is much higher than that of retaining one. In addition, loyal customers are more likely to tell others about your products and services, thereby increasing your sales through word-of-mouth marketing.

It pays to invest in cultivating customer loyalty, which will help increase the amount they spend on your products or services over time.

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Thanks to its cost-effectiveness, personalized email marketing remains one of the best ways to cultivate customer loyalty.

Email marketing has a median ROI of 122%, which is over 4 times higher than other marketing formats. Meanwhile, the average order value from personalized emails is 5% higher and conversion rates are 6% higher, compared to those that aren’t personalized.

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So how do you use email personalization to increase customer lifetime value and encourage recurring purchases?

1. Optimize customer segments by CLV

You can segment your email list by profitability, such as not-profitable (20%), profitable (60%), and very-profitable customers (20%). This way, you can send personalized emails with the most relevant content and offers to increase purchases from each segment.

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For example, you can move customers in the “not-profitable” segment into the “profitable” segment with a special offer or cultivate relationships with your “profitable” or “very-profitable” groups so they’d stick around and buy more.

The goal is to move as many customers as possible into the “very profitable” category and increase the average CLV.

2. Reward customers for their loyalty

Offering rewards via personalized emails is a great way to add value to the relationships that customers have with your business and increase their CLV.

A research has shown that customers who make one purchase have a 27% chance of coming back. Meanwhile, second-time customers have a 54% chance of returning for a third purchase.

There are many ways to show your appreciation to your existing customers, by adding special discount codes, offering a free gift with purchase, sending an exclusive invite to an event, or giving them early access to a sale.

3. Upsell and cross-sell relevant products

Customers have very little tolerance for marketing messages that aren’t relevant to them. In a survey conducted by Accenture, 44% of consumers indicated that they’re frustrated when companies fail to deliver relevant, personalized shopping experiences and 41% of consumers have switched brands because of that.

By offering highly personalized product recommendations via email to existing customers based on their preferences and purchase histories, you can upsell and cross-sell items to entice them to buy more from you and increase their CLV.

For example, JustFab leverages interest and behavioral data to encourage repeat purchases through personalized email campaigns. These highly targeted recommendations increased email revenue by 39% and cut customer churn by 46%.

The foundation of effective email personalization

In order to personalize your emails effectively to increase customer lifetime value, you need a comprehensive customer database and the ability to organize the information for your email campaigns.

A robust data management platform (DMP) provides the solid foundation for processing all your customer information in a centralized location so you can extract actionable insights to increase your customer lifetime value.