October 18, 2018 | By R3D Global
The advent of technologies and big data allows marketers to offer services and products that are personalised to capture evolving customer preferences. With competition heating up and retailers seeking to break through the war to increase their presence in the market, personalisation is vital.
Personalisation is the key to providing a satisfying customer experience, and it can take many forms such as customised messages, products or processes to order products or services. Here are some benefits of adopting personalisation into your marketing processes.
- Enhance Engagement
The most quintessential personalisation is using the customer’s name. It will catch their attention and build rapport. For example, Coca Cola’s campaign named “Share A Coke” had successfully increased their sales as well as engage with their customers. The customers could order their name written on the Coke’s can. According to Carmody and Lewis (Brain Research, volume 1116, Issue 1, October 2006), a person’s name is the sweetest and most important in any language to that person. So use it!
- Increase Customer Loyalty and Satisfaction
Cultivating customer loyalty is crucial to your company. According to Microsoft (2017), customers who are loyal with the brands make 90% more frequent purchases, spend 60% more per transaction and are five times more likely to choose the brand in the future. One way to build a relationship with customers is making them feel special by using personalisation. Personalisation needs to be beyond just pushing customers to buy products. Use big data to analyse and understand what they truly need.
- Deeper Insights Into Consumer Behaviour
Personalised communication is shifting from ‘pushing’ content toward consumers to ‘receiving’ content from customers. Today’s customers can be content creators or curators. Once the customers curate their own ‘dream’ products or services, businesses will have more access to deeper insights into the customers’ preferences.
- Premium Price
According to Deloitte (2015), customers are willing to pay more for product personalisation. One in 5 customers is willing to pay 20% more for personalised products and services. For example, Cadbury’s campaign for Valentine’s Day allowed customers to put personalised messages and photos on the wrapper of Dairy Milk chocolate bar. With personalisation, Cadbury was able to double the price for their products, and the campaign resulted in a three-fold increase in the number of customers. If you are looking for a high ROI, you need to look no further than personalisation.
Getting personalised products or services is not easy. It will take time to create a great customer experience that involves innovating web designs and experiences, to mapping out crucial factors such as shipping costs and logistics. Beyond that, you also need to delve into real-time insights into your operations, such as market analysis, market trends, expectation and orders.
Are you considering to equip yourself and invest in personalisation tools for your company? We are ready to assist you to prepare your marketing strategy. Contact us firstname.lastname@example.org.