Consumers expectations when it comes to their online shopping experience has only grown over the past 5 years. And especially within the luxury industry, audiences want to feel like brands know and understand them; and are more than just a number. Luxury consumers expect to have the same experience shopping online as they would if they stepped into one of your stores so personalisation is key.
Having a real personalisation strategy in place can help increase your revenue by over 15% and you should be able to see noticeable improvements in
Conversion Rates
Customer Retention
Lifetime value
Getting started with Personalisation.
You will probably be running some kind of personalisation already by default. Examples might include welcome emails for when a consumer signs up for a newsletter or abandon cart messages. But the key lies in really diving into your customer data and presenting truly unique messaging for each consumer.
Segmenting your data.
Yes, you definitely should be segmenting your data by all the common demographic data like age, gender, location. But it might also be worth looking into website/app activity to start segmenting your audience by behaviour.
For example,
Consumers who frequently abandon their carts, say 4 or more times across a certain time period, may need some further incentive to purchase. Sending out a personalised promotion for that specific segment could help in influencing the completion of a purchase.
Do you have customers who always purchase a certain size of clothing? Try sending a "You may also like email" featuring products being worn by models of that same size. Studies have shown conversion rates increase when consumers can see what your product might look like on themselves rather than of a model of a different body type.
These are just 2 examples of more tailored personalisation which can really help your customers feel well looked after. Of course the key is to test and evaluate each segment and strategy and adapt to the results seen. There will be no point continuing with communications that do not offer any value to your audience.
Consumers expectations when it comes to their online shopping experience has only grown over the past 5 years. And especially within the luxury industry, audiences want to feel like brands know and understand them; and are more than just a number. Luxury consumers expect to have the same experience shopping online as they would if they stepped into one of your stores so personalisation is key.
Having a real personalisation strategy in place can help increase your revenue by over 15% and you should be able to see noticeable improvements in
Conversion Rates
Customer Retention
Lifetime value
Getting started with Personalisation.
You will probably be running some kind of personalisation already by default. Examples might include welcome emails for when a consumer signs up for a newsletter or abandon cart messages. But the key lies in really diving into your customer data and presenting truly unique messaging for each consumer.
Segmenting your data.
Yes, you definitely should be segmenting your data by all the common demographic data like age, gender, location. But it might also be worth looking into website/app activity to start segmenting your audience by behaviour.
For example,
Consumers who frequently abandon their carts, say 4 or more times across a certain time period, may need some further incentive to purchase. Sending out a personalised promotion for that specific segment could help in influencing the completion of a purchase.
Do you have customers who always purchase a certain size of clothing? Try sending a "You may also like email" featuring products being worn by models of that same size. Studies have shown conversion rates increase when consumers can see what your product might look like on themselves rather than of a model of a different body type.
These are just 2 examples of more tailored personalisation which can really help your customers feel well looked after. Of course the key is to test and evaluate each segment and strategy and adapt to the results seen. There will be no point continuing with communications that do not offer any value to your audience.
