Insights from the Tactical to the Strategic
With the rise of the Internet, consumers today have access to gazillions of information pieces.
More choices of products and services, brings in the Paradox of Choice. Organizations invest in an array of products but are unable to differentiate themselves.
The meaning of value is shifting from the product approach to the personalized consumer approach. People today look to search, curate and interact rather than being pushed towards seeing content.
Even building a brand today requires delivering content which is catered to the consumers’ needs. The Zero Moment of Truth, perfectly illustrates how internet and mobile devices drive purchase decisions. It is the dialogue between consumers and companies which is critical to the practice of creating value.
Catering to the need of every human, that is the beauty of Internet. As every person has a unique taste, presenting the best possible experience with what they love is important than ever.
Netflix stresses its goal of creating a seamless experience for creating the right content to the right person at the right time. Coming with over 1,000 hours of new content, it promises to deliver content catered to the dynamic audience, rather than pushing over similar content for the audience.
The Mindshare trends report 2017, highlights how the new personalized economy will take over. With devices like Amazon Echo and Google Home, brands will have the opportunity to engage customers based on their requirements. Whether it is a receipe or trip advice, content which serves the individualistic needs will rule.
An effectively executed personalization strategy can yield a positive ROI. McKinsey’s analysis reveals that personalization can deliver five to eight time the ROI on marketing spend and increase sales upto 10%.
Here’s a look at the personalization tactics.
1) In-line messaging
What to say and where to say, that is the question. Developing a messaging strategy and then mapping it to the audience needs ensure the maximization of personalization effort.
The web page description should match with the present content as per the value and keywords it addresses. The messaging should be consistent to depict what is being said on the page.
2) Demographic Targeting
The first place to sort is the basic demographic information which includes gender, age and location. Not everyone would like to see an education course, which bears no value to them.
Identifying the real customers to target is the way to go. Consider the messaging and value you wish to convey alongside your product. Testing it out is the way to ensure your target audience finds it relevant and appealing to click through it.
Customers come and leave a website within minutes only to forget about it quickly. With re-targeting a reminder can serve to be helpful for the products they have left out. As re-targeted site visitors are 70% more likely to convert.
Customers who have added a product to the cart or visited a product page multiple times can be targeted. Email reminders also serve the purpose of attracting them towards taking action.
4) On-site personalization
Automation come to the rescue here, as they present every customer with the most relevant content to make the purchase journey more inspiring.
Returning customers are reminded of the products they have explored previously and are suggested other relevant products they might like. An example of on-site personalization is Amazon.com, which suggests the products you might like to promote purchases as you explore the other items.
5) Analytics and data
Data is key to derive deep customer insights. New patterns can be unlocked as well as gaps can be identified to provide personalized content to the customer. Companies are also looking ahead to benefit from the data backed approach with the help of service providers. An example of this Nelson’s tie-up with Rich Relevance data, which offers personalized shopping data. With improved analytics and product recommendations the retailers would be able to cater to their customers needs.
According to a Study by PWC Digital, 94 % of senior level executives believe that delivering a personalized experience is critical for reaching out to customers.
With the growing investment in predictive analytics and data, organizations today are working towards enabling a personalized approach is multiple touch points. The need for valuable content to be delivered in the right conditions is more important than ever. Your personalization efforts will bear fruit as you observe increased loyalty via repeat visits and increased engagement.
66% of consumers said that they don’t view a content piece all the way through, primarily because it was uninteresting or irrelevant to them.
Data and technology can be your allies to give the customers a seamless experience and make content work for you. It’s time to lead with customer focused content.