Written by Nick Voulis, Head of Research Solutions.
Personalisation is not a new concept. Brands have recognised the value potential of engaging with their customers for a long time already.
However, despite living in an era where we have more access to smart tech and data than ever before, brands are still failing to hit the mark.
Why is this? The data exists and you’re undoubtedly increasing the volume of it with each passing day. So why is it not delivering the results?
Getting your personalisation strategy right can help grow your profits by 20%. Yes, really!
1. Know the ‘why’
Understand why this is important. In an age where we have endless choice presented to us in a matter of a few seconds, we can’t just compete on price or delivery anymore. We must learn to trade on the ‘value added’ we can offer to customers. This means it’s imperative we know who they are and what will make them happy/loyal.
80% of customers state they’re more likely to do business with a company that offers a personalised approach. (Qualifio)
2. Deep dive
Before you start chasing down new data you need to conduct a solid review of what you already have. Start with a deep dive data discovery to find what’s there, what’s missing and what will prove most useful.
40% of insight gathered is not actionable. (Customerthink)
3. Post-haste
Don’t waste time sitting on your data waiting for an answer to present itself. Take decisive action and get testing.
4. Reign in the hard sell
A good personalisation strategy doesn’t focus on bombarding customers with sales messages and calls to action at every available opportunity. It’s not all about ‘selling’, it’s about staying front of mind for when they’re ready to buy.
5. Don’t be a pest
We know as customers ourselves that it’s annoying when companies bombard us with endless auto-generated messages asking how we are. The quickest way to get your customers to disengage is to overwhelm them. Think about your communications from a ‘quality’ not ‘quantity’ perspective. Make sure you have a valid reason to contact them before you do!
6. Be relevant
How many times have you looked at a pop-up ad or opened an email and thought “Why on earth have I been sent this?”. Demonstrating that you not only listen to your customers, but really ‘hear’ them is imperative to building up a sense of trust with them.
90% of customers claim they find personalisation appealing. (Qualifio)
7. Grab the nettle
Don’t be afraid to ask for feedback or to ask your customers to interact with you. Many brands shy away from this either because they’re afraid of bad reviews, or they just don’t have the capacity to deal with the engagement. Audiences are fully expectant of two-way communications these days. If you shut the door on them, they will simply seek out your competitors.
8. Whole life value
Customer insight is not merely transactional. Map out the lifecycle of your customer’s journey and identify where and when it’s most relevant and valuable to touch base with them. Data can be enriched at all stages of the buying process, not just at the point of sale. If you manage it correctly, they’ll stay engaged for longer.
Understanding your customers and their needs is the difference between having data on 400,000 people where 0.5% of them buy from you once and having 40,000 highly engaged customers where 30% of them buy from you regularly.
Remember, your customer is yours to lose. We can help you keep them loyal and ensure they come to you time and time again.
Ready to learn more? Watch our in-depth webinar on how to reboot your personalisation strategy and be sure to get in touch if you’d like to discuss anything further.
