Why Customer Data is Important for Personalization
Every day, consumers are flooded with new brands and products. That makes it extra difficult for people to tell which is better as each boasts a certain advantage over their competition.
If you are among these brands that are fighting a battle to stand out, you must learn how to distinguish yourself from the others. An effective way of doing this is by finding ways to provide a unique experience to your customers which would make them feel that you have tailored your service or brand to suit their specific wants or needs. This is what we call personalization. This is what creates a meaningful experience that in turn drives conversion.
If you are yet to be convinced, let’s look at these numbers:
*73% of consumers would rather do business with companies that use personal information for a more relevant shopping experience.
*19% increase in sales is the average result found by in-house marketers who tried personalizing their web experiences for customers.
*14% is the improvement seen in click through rates when emails are personalized.
These numbers strongly suggest that those who opt to deliver an impersonal one-size-fits-all experience are missing out on the opportunity to positively influence their customers who at this point are expecting a personalized experience.
To maximize customer data for personalization, you can try these tips:
Predict what consumers want. If you know your customers then it would be easier to work around a customer-focused campaign, which is by the way, proven to be more profitable. An important aspect of this campaign is being able to predict what your customers will need or want to keep them loyal and satisfied. When you are equipped with the right customer data, you would be able to tell what they are most likely to purchase and when or how often.
Work on your customer service. By this we don’t mean just have a department dedicated to fixing problems. The key is to work with customer data to be able to proactively monitor customer interactions so any small concern would be addressed before they even blow up. Like the old adage says, prevention is better than cure. Your customers should never feel that they are unappreciated, or worse, betrayed.
Have a summary of your customer relationship. This will include his transaction history, viewed products, and frequently visited channels. Of course personal and demographic information will also be used. Having a single view of your customers will allow you to create a more positive and personalized relationship with them.
It is undeniable – one must have access to customer data to have a clear vision of how they can be served. It may be a challenge, yes, but it’s one that you need to achieve real soon, if you want your brand to survive the commercial jungle.