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.
Organise your CRM.
Keeping your CRM organised will not only help the efficiency of any personalised communications but will also help your team save time.
If your CRM system has automated lead scoring or tagging etc to help segment your audience then look into using these features. And then schedule time at regular intervals to go through and audit your CRM and clean any data. Try to use consistent naming conventions for each of the segments. It could also be useful to have conversations internally to when customer are deemed 'cold' and have automations set up to either try and warm them up or tag them appropriately.
You'll want your CRM to be as up to date, organised and as clean as possible!
Use your segments in your paid activity.
You've got a nicely organised CRM and different audience segments set up based on demographics and behaviour. Now you're in a great position to begin using some of that data within your paid campaigns. Both Google Ads and Meta allow you to upload audience data into the platforms to help their AI driven targeting. The more of your own 1st party data you can fuel the machine learning with, the better!
Think about which segments could align with certain campaigns or tailor your messaging based on previous consumer behaviour.
Your Luxury Audience.
Remember, a luxury audience need to be taken care of. But that looks different to different people. Some customers will want a completely hands on experience and this will warrant a higher level of personalisation and some will want to be left alone until the time is right.
Find out who is who in your audience by taking a look at their engagement. Are they always opening emails, clicking through to product pages or signing up to promotions? Lead scoring functions in your CRM may help you develop a sense of who might like a more first-hand experience with your brand.
