Personalization – Driving The Point & Sale Home
By suraj Published: #php echo get_post_time('H:s \G\M\T'); ?> 26 April 2018 | Updated: #php echo get_post_modified_time('H:s \G\M\T'); ?> 22 May 2019
Cut-throat competition and increased customer awareness can divert customer attention away from your brand. Which is why brands need to incorporate personalization into their engagement.
Did you know that 87% of online shoppers do their own research before making a purchase?
That leaves you with two predicaments-
1- Retaining your customer’s attention
2- Providing your customers with relevant recommendations
There’s a simple solution – personalization. In the age of mass-media, mass campaigns, and mass outreach, your decision to go ‘personal’ will make all the difference. There’s just one problem though; you are not the only one going personal. Personalization is already picking up, and many companies are using AI backed marketing tools to get personal with their users.
74% of customers feel that brand messages are not relevant to them.
One irrelevant message to a customer is already ‘one wrong message’ too many. Nothing turns-off a user like irrelevant messages. Therefore, sending an irrelevant message might do more damage than sending none at all.
What is the Need for Personalization?
Customer choices are continually evolving, and not just over a long period. Preferences can change and evolve in the time it takes to close one website and open another.
Factor in the abundance of choices that every customer is presented with, which could potentially influence purchasing decisions, and you’ll understand why personalized communication is necessary. If your brand can grab the customer’s attention at this crucial point, you’ve won over their purchasing decision.
From a customer’s perspective, personalization reduces the information overload. By providing the exact information the customer needs, at the precise time, they need it; personalization actively helps customer decision making.
Furthermore, personalized messaging, can instill a sense of control in the mind of the customer, giving them a sense of complete ownership in their purchasing decisions.
97% of website visitors leave without completing a purchase. Personalized and targeted messaging can help your bring them back/ complete their purchase.
How Does One Personalize?
Although personalization was a strategy employed by e-commerce sites until a few years ago, it is now a widespread tactic that almost all online businesses have resorted to.
It all begins with KYC – Knowing Your Customer; which includes their purchasing behavior, their preferred browsing time, creating their digital profile from various sources, to guide them through their journey. The right kind of personalization here can result in a purchase of your offering, a conversion for your company and the loyalty of the customer.
Personalization involves giving the customer what they need, but at exactly the right time they need it. If your message is too early or too late, you’ve lost the interest of the customer in engaging with your message.
Take, for instance, a customer who lands on the homepage of an e-commerce site. There is no better place to catch the eye and initiate engagement, and this is exactly what Shop Direct has done through their fully personalized home page. Not every day you land on a website with your name splashed across it yeah?
Having a greeting personalized with the customer’s name, and product recommendations based on what they had browsed, time of the year, etc. Anyone landing on the homepage is sure to generate engagement. This kind of personalization has also proven to increase conversion regarding sales.
Can you Automate Personalization?
Does personalization need to have the human touch right? I mean, automated mass emailers aren’t pleasant to read and apparently don’t serve the purpose, do they? So you would conclude that automating the personalized experience is far-fetched.
But, what if it was possible? To automate personalization of your brand engagement strategies…
Personalization is exactly what Marketing Engagement and Automation platforms like MoEngage are helping marketers accomplish, through the use of advanced AI-backed tools and ML algos.
But before we begin to learn about automating personalization and driving higher engagement through automation, it becomes vital to break down the concept of ‘personalization’ into its components. To get personalization right, a marketer/ brand needs to get three focal points spot on.
- Content & Channel
From your customer’s point of view, getting these key components right can translate into a better experience for them. A happy customer = Better business.
When your business caters to a large segment of the population, your customer pool gets diverse. And because not all your customers are looking for the same products/ service or experience, it is vital that your messaging is customized to individual customer requirements.
Afterall, nobody wants to receive messages/ content that is irrelevant for them.
Content and Channel
Perhaps more important than reaching out to your customer, is reaching out to your customer on ‘their’ preferred channel of communication. Then, of course, there is the relevance of the content you send?
Are you able to bring personalization to the content and the channel of communication employed? If not, then your communications might be doing more harm than good. Nobody wants to be reached out to on a channel they are not interested in.
If a customer extensively engages with your mobile app, and your marketing sends them content on their email, you are effectively failing to personalize the communication channel.
Same goes for content. If the content you send out to your customer is not personalized to their interests (prior browsing/ purchasing trends, relevant product recommendations, and reminders), then the chances of customers unsubscribing from further communication are high.
The most important of all, when it comes to personalized communication (mobile push notifications/ web push/ in-app notifications) is in getting the timing right.
Popular studies have shown that the strongest reason for uninstalling an app was ‘irrelevant notifications’ (timing & content). It is the same behind unsubscribing from emails.
At the same time, notifications timed for a user’s most responsive timings have proven to yield far better results. While this is a practical impossibility to manually personalize content, channel, and timing for the audience, with the help of automation tools, this is a piece of cake.
Sherpa by MoEngage, for example, redefines Machine Learning in marketing and simplifies engagement.
What if you could employ advanced tools that are AI driven and employ real-time learning to help your personalize your messaging down to a dot? Taking into consideration everything from what users browsed on your website to their most active time on your app and everything else in between.
Loaded with a trove of such information, our personalization tools such as DPM (Dynamic Product Messaging) can help you deliver the right content to the right user at the right time and on the right channel. And since customers only get relevant messages, the engagement rates are always higher with these messages.
By analyzing campaign performing/message variants in real-time, sherpa can promote the better performing content for optimal response.
And by optimizing the timing of messages, sherpa ensures that messages are only sent for relevant actions/ triggers done by the customer. This ensures that messages are sent at the most relevant time when the user is most likely to benefit from them.
By integrating AI and Machine Learning into our platform, we can help marketers not only automate their engagement, but also personalize the messaging to a user’s specific requirement.
It’s like a 1:1 interaction, personal and warm; but driven by AI and real-time Machine Learning capabilities.
Combined with MoEngage’s in-house personalization tools, marketers can add personalized elements such as first name, last name, last action taken by the customer, relevant product images and so on.
Our customers who have used this combination of features have observed up to 45% CTR on their campaigns. This ability to enable hyper-personalization allows us to give our customers the personalized edge!
Multivariate Testing is another ‘cool’ feature on the automation platform that helps marketers test the performance of two variations to a message. Our platform will automatically track the better performing message and push that while holding off on the other.
Being able to track real-time performance of marketing campaigns, enables marketers to understand what works and what does not. By eliminating the manual and automating the process, our platform gives marketers more time to focus on what matters more.
Personalization and Conversion
Yes, there is a linear relationship between the two. Over a period of time, we have observed that a lot of our clients who have personalized messaging witness improved conversions when compared to messages that are not personalized.
Helpchat, India’s biggest AI-powered personalized transaction platform, for example, achieved up to 32% open rates for the email campaigns using MoEngage’s segmentation and email capabilities. Segmentation helps marketers classify their customer base, based on various parameters. This ensured that Helpchat was able to reach a targeted audience with the right message.
A leading online music streaming app, was able to drive their premium subscribers with the help of MoEngage. They witnessed a 120% increase to their premium subscribers and a 10% increase in Daily Active Users. Through personalized content and rich messaging, they were able to boost user-engagement and premium subscriptions as a result.
To see how MoEngage can help you maximize your user-engagement or improve conversions reach out to us for a Demo.