As a consumer, do you prefer to do business with a company that offers personalized experiences?
For me, the answer to this question is a definite yes.
90% of 1,000+ consumers surveyed in 2019 say they’re willing to share their behavioral data if additional benefits are provided.
- Personalization Improves Customer Experience
Customers say they prefer personalized experiences because of convenience, relevance, and savings. Personalization tactics that streamline processes are greatly appreciated. E.g. "frequently bought together" products on Amazon. Systems that use personalization suggest the right content at the right time and trigger communications based on customer actions. Consumers are willing to shop more with retailers that show that they recognize each individual and can provide appropriate recommendations based on their unique needs. Personalized offers with coupons or discounts are also a great motivator for customers.
- Personalization Increases Conversions
Being able to meet customer expectations translates into completed forms, subscriptions, and completed purchases (aka conversions).
- Personalization Increases Visitor Engagement
As you stay relevant in the dialog—the story you are telling your customers through your site content to drive them to conversion points—it is less likely that your customers leave your site. If you manage to understand what your customers want, and continue offering them meaningful pieces of content, they'll continue their journey on your site.
- Personalization Increases Lead Generation/Customer Acquisition
A customer that has been nurtured and then asked for something small in return is more likely to respond in a positive way. For example, you have better chances getting customers to subscribe to your email list if you ask for it in return for a first-time visitor discount.
- Personalization Builds Customer Relationships, Loyalty
Responding to consumer needs is the first step towards a long-lasting relationship between your customer and your brand. Customers who benefit from an experience that remains relevant and consistent across channels will be motivated to return to your site.
Personalization benefits both the customer and the business. The challenge for marketers is understanding how to proceed. In the one hand they have the strategy; figuring out who are their customers, what are their needs, and what tactics will work for them. The other side of it is the technology; finding the right tool to implement personalization, one that truly empowers them.
In future posts I'll be talking about personalization tactics you can use and what to consider when choosing your technology.