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December 3, 2020
It’s no secret that personalized communications, recommendations, and offerings make consumers feel valued and that their favorite brands care about their preferences. 71% of consumers admit that a brand’s relevance to their needs in the moment is what earns their loyalty.
Retailers who optimize the consumer experience can anticipate increased satisfaction and loyalty. We’ve rounded up a few ways to incorporate personalization into all aspects of your consumer’s experience to help turn browsers into brand loyalists.
Understanding consumers wants and needs can lead to increased consumer satisfaction and loyalty. In fact, 91 percent of consumers are more likely to shop with brands who recognize, remember, and provide relevant offers and recommendations.
In order to power personalized recommendations, gaining a comprehensive understanding of consumer wants and needs is crucial. The combination of product, transaction, and consumer data ensures that consumers receive hyper-personalized product recommendations for their individual preferences.
Personalized email communications transcend beyond personalized subject lines or segmenting emails in a one-to-many model. Access to consumer data enables leading brands and retailers to populate relevant offers, products, and information into consumer’s inboxes on a one-to-one basis.
Email is a key form of communication between retailers and brands, and their existing consumers. Research shows that personalized email calls to action (CTAs) convert 202 percent more than generalized CTAs. With access to consumer data, the ability to implement personalized offerings and personal calls to action is a seamless integration that can increase the likelihood that a consumer will convert and have a positive shopping experience.
Conversational chat is becoming a key component in offering personalized experiences. The implementation of chatbots assist consumers right from the product detail page. Through this interactive feature, consumers can receive assistance from a service representative immediately. Chatbots are forecasted to drive $112 billion in retail sales by 2023.
Chatbots are similar to email in that they can deliver personalized information to each consumer based on preference. However, chatbots can deliver this information immediately, so consumers can receive support while they are shopping.
Personalized chatbots also serve as style assistants to recommend products that match the individual consumers style, fit, and size preferences. Chatbots engage new and existing consumers in the consideration phase, drive them to the purchase phase, and add an incentive for them to come back again in the future to purchase.
In the age of data, artificial intelligence, and machine learning, many retailers and brands are investing in technologies that remember individual preferences and automate personalized shopping experiences. Retailers are expected to spend $7.3 billion on AI by 2022, up from $2 billion in 2018. Data-driven technologies enable retailers and brands to offer seamless shopping experiences that encourage consumers to purchase again in the future.
Want to learn more about what it takes to turn your shoppers into loyalists? Watch industry experts from Google Cloud, Forrester and Wharton discuss loyalty here.
