Head of Strategic Alliances Partnerships & Co-Founder Niall O'Gorman delivered a webinar on the 7 eCommerce Trends to Shape Your Strategy in 2020 and spoke at length on each of the the following 7 trends from 2020:
E-Commerce Personalization is as a trend that cannot be ignored in order to drive success along the digital path to purchase. It is regarded today as a strong means to gain competitive advantage in the world of ecommerce. We are constantly reminded of it's importance of it in a digital world. And most importantly how you can leverage it to increase sales.
Salesforce reported that 6% of website visits that had an AI powered personalization drove 37% of revenue. Granted Salesforce is a huge organization with the resources to achieve sophisticated levels of artificial intelligence in personalization. However no matter what size your business is you can achieve some level of personalization with a clear strategy.
Granted Salesforce is a huge organization with the resources to achieve sophisticated levels of artificial intelligence in personalization. However no matter what size your business is you can achieve some level of personalization with a clear strategy. As leaders when it comes to personalization Amazon and Netflix are using predictive analysis that helps them give relevant recommendations on content or what other products you may be interested in based on previous choices. Brands need to take the lead from companies like Amazon and Netflix and priorities the customer experience over all else by focusing on enhancing their customer experience regardless of how big or small their business is.
Personalisation Through Email Marketing
Email marketing is a tried and tested communication channel and is enjoying a renewed level of popularity due to the increasing need for personalization in customer communications. The open rate for personalized emails is 18.8% and has a click rate of 2.1%. Brands can employ many tactics to increase the effectiveness of personalisation when it comes to email by doing things liketaking into account their last transaction or products that they have shown interested. Based on this information your email can make suggestions in other products that they may be interested or promote your latest product lines that may interest them.
The conversion rates of eCommerce marketing emails remains strong - 15.68% open rate for eCommerce email marketing campaigns and a 2.01% click rate. This is largely due to fact that brands are leveraging the intelligence built up around these customers and reaching out to them at a time and medium where they are most engaged and therefore most interested to read the email content. These customers also tend to be more engaged given that as they are seeing content that they want to see from a company they have engaged with previously rather than generic content that every customer would see.
Utilizing the story telling tactic in a personalized manner can be a very powerful tool to drive conversions and sales. Tying in personalization strategies with the environmental factors can be very important. This can help you in becoming a part of the user experience as well tell a story. For example on a rainy day they change the descriptions using relevant graphics and pushing out products that are relevant for your customers on that day. Similarly on a sunny and bright you can push out summer clothing. This is shown in the example below.
This strategy of personalization based on environmental factors is not a new concept but rather an old tactic. It is clear that is it those brands that embrace personalization no matter what budget they have to play with that will win in the eCommerce world. Those that are really advanced are reacting to local environmental things in real time and to topics that are being talked about in social media taking any negatives and making them into opportunities.
ChannelSight has a team of experts that can help you understand your customers needs better and implement solutions that can help your eCommerce strategy. Contact us today to book a demo with our team of experts.
