Today’s consumers do not appreciate being bombarded with marketing messages. As such, businesses have been forced to think outside the box on how else they can attract and retain customers. Market personalisation, an emerging trend in digital marketing, seems to be the answer to this problem.
What is market personalisation?
Market personalisation is a marketing strategy where companies leverage data analysis and automation technology to deliver customised content and product offerings to current and prospective customers. It helps you market the right product to the right people at the right time.
Why is it important?
Personalised marketing offers numerous advantages for both businesses and customers. These include:
Improved customer experience
Today’s customers are comfortable providing personal information to their favourite brands. They participate in surveys, fill out forms, disclose their preferences, but you have to give something in return. With all this data, consumers expect you to offer them a personalised experience the next time they visit your website.
A report by Accenture revealed that 91% of consumers are more likely to shop with brands that provide product recommendations and offers that are relevant to them. Brands such as Amazon have mastered market personalisation, and this has helped them increase sales and drive more revenue. You could be searching for a mixing bowl, and then they recommend oven mitts or a baking pan.
Increased brand loyalty
Customers who provide personal information automatically expect to receive unique treatment, and no, that doesn’t just mean receiving an email with their name. Creating and nurturing a personal relationship with customers will benefit your business in both customer satisfaction and brand loyalty. As a matter of fact, over 40% of consumers say that they will become repeat customers to businesses that offer a personalised shopping experience.
How can eCommerce websites use market personalisation?
Customers have no problem giving out personal information as long as they benefit from it. Once you receive this information, it is now up to you to utilise it to your advantage. Knowing your customers’ challenges, interests, preferences, preferred methods of communication, etc., will help you market to them better. You will be able to create relevant content that matches their needs, and the faster you can provide a solution, the faster the customer is likely to purchase.
If you need help getting started with market personalisation, contact us today to speak to our team of marketing experts.