The business environment, whether online or real-world, is a noisy place. Businesses have to take a deeper look at the trends that will amplify the voice of their brand and retain the loyalty of existing customers, as well as attract new ones.
One of the more significant digital marketing trends set to gain traction in 2018 is promoting personalised customer experience to encourage brand loyalty.
Modern customers are digitally empowered and have become savvy enough to demand to buy on their terms. A consequence for businesses is a greater reliance on customer-centric marketing in order for brands to stand apart from the competition in a crowded market.
Developing personalised customer experiences utilises data analytics and insight through digital technology applications to foster consumer trust and build brand loyalty – goals that are heavily supported by the customer experience.
Eliminate consumer overwhelm and decision fatigue
Personalised customer experiences can be effectively used across industry sectors: retail, tourism, automotive and even in entertainment.
Using data analytics and customer insights alongside purchase history and preferences, businesses can gain a better understanding of who their individual customers are, what their needs and preferences are, and, more importantly, when and how to solve their problems.
Tracking and historical profiling of their consumers helps businesses create targeted offers that are meaningful and relevant and convey to a customer that his or her interests and preferences are valued.
Personalising customer experiences can be effectively practiced through various formats delivered conveniently through digital means. These include customised coupons and deals based on previous purchase history, notifications and reminders to book appointments, and personalised emails.
An upward tick for personalised customer experience in 2018
Just how critical is optimising customised shopping experiences to keep a business’ sales pipeline healthy?
According to findings from a recent study conducted by Epsilon (a survey involving 1,000 consumers across the age spectrum from 18 to 64) titled The power of me: The impact of personalisation on marketing performance. 80 per cent of respondents said they are more encouraged to buy from a brand that provides personalised customer experiences.
Businesses that focus on personalising the experience of their consumers are more likely to build a solid valuable buyer base with customers who make purchases from them repeatedly and regularly.
Supporting Epsilon’s study are key findings from the PricewaterhouseCooper’s Total Retail 2017 Report. That report showed that 61 per cent of consumers are loyal to business brands and products that they like and are most likely to buy from again. This compares favourably to 39 per cent of customers who said they are open to try new and different products.
The benefits to businesses of personalisation are multi-fold and include:
- Builds positive business-customer relationships
- Encourages brand loyalty
- Cost effective method in improving sales from retained clients
Why does customer personalisation experience work?
The motivating force behind customer personalisation experience is that this marketing technique ensures customers do not feel manipulated into making a purchase or that they are a victim of a ‘hard sell’. Instead, they believe they are buying from a business brand which values them by showing an interest and catering to their needs or wants.
One of the challenges in business is to steal attention of customers away from the bombardment of information targeted at them. More than just a nudge, personalised customer experiences treat a business’ consumers as VIPs – a proven way to ensure their brand loyalty and a positive profit margin.