It’s almost that time of year again ; it’s nearer to the holiday period! As shoppers around the globe start planning shopping and creating their wish lists, it’s time for marketers to start planning how best to harness the festive spending season’s possibilities.
The challenge of standing out among competitors has never been so true. Research from Royal Mail found that 30 per cent of shoppers started their Christmas shopping during or before October, with each buying seven gifts on average in the run-up to the holiday season. There is a chance, but in a crowded marketplace, brands need to build relationships and give consumers a reason to shop with them.
There is clearly a divide to bridge. While 63% of customers say they expect brands and distributors to personalize, just over one-third (37%) of marketers presently invest in personalization technology.
The main differentiator for brands looking to stand apart and drive conversions can be smart personalization strategies. With Brexit on the horizon and the financial uncertainty that comes with it, brands and distributors need to concentrate on creating sustainable and enduring relationships with customers to cope with any consumer spending threats. Our recent study on Ecommerce Benchmark observed that conversion rates for ecommerce fell by 7 percent in Q1, a trend that Brexit was likely to drive.
There are, however, a number of barriers that can often stand in the way of an effective personalisation strategy that accelerates the customer journey and drives results.
Understanding the basics of personalisation
When considering how to personalize client travel during this peak trading era, marketers should remember that when it comes to personalization, there is no one-size-fits-all strategy. It is essential to recognize that each shopper has different behaviors and distinctive expectations.
Start by thinking about the place, device or demographic distillation of audiences into groups. Brands will be able to combine this understanding with machine learning to use real-time models to define what works best for each person. Ultimately, information offers insight into how, where and when each customer should be interacted.
Getting to know your customers
The key to achievement when implementing a1-to-1 personalization program is actionable client information. Based on information from past interactions, retailers will have an knowledge of what clients will like. Whether they’re interested in gaming or want beauty goods this Christmas, brands can adapt anonymous browsing event-based experiences, regardless of where customers come from.
Personalization 1-to-1 uses all current client information and leverages marketer-guided AI in each consumer display choice. The more data available, the more efficient and tailor-made the personalization will be, but from the offset you can start small to reap value. From there, brands and distributors can readily scale any personalization attempts as they develop in information maturity and keep getting to understand their clients.
Joining the dots
Only one device will be used by shoppers to communicate with a website and create a purchase. Brands also need to develop as buying habits change. Today, therefore, marketers face the challenge of linking their customer behavior together to create a full image, in an effort to prevent data silos.
In addition, corporate misalignment and moving from specialized departments to cross-functional teams may stop the process of personalization. For instance, one team may focus on website optimization, while another team looks at advertising display only. Ensuring complete organizational alignment and buy-in will allow for a more seamless process in which all teams can work towards a unified information and technology endeavor.
Building the content
For each person, effective personalization does not involve distinctive content. Focus on getting a few creative resources and copying to represent your customers ‘ differing interests. Let’s consider what it really means to deliver a good1-to-1 experience — it’s not just about brand imagery, product recommendation or message, but a combination of these elements at the right time on the right platform. The key to attracting holiday shoppers is to get this right.
Personalization, however, requires stuff beyond this. Consumers are becoming more savvy and expect more and more personalized content and suggestions. Ultimately, personalization should remove the burden from advertising teams, not just one season! Machine learning and marketer creativity will work hand-in-hand to reap the benefits of enhanced allegiance and higher ROI in the future.
So how can marketers overcome these hurdles to optimize client experiences and be in the best position to satisfy demand ahead of this holiday season’s busy ecommerce period? The steps below should assist you on your journey…
