March 14, 2017

Why Individualization Matters to Grow Retail Commerce Revenue?

 

Not everyone agrees on the level of marketing personalization that is required to meet consumer expectations. But one thing is sure: A mere product recommendation system is not enough. Your customer won’t be impressed at all. Why should they be? Your competitors probably already deliver individualized content experiences using the latest technology at their disposal.

Retail Commerce Solutions - Knexus

You need to set the bar higher if you are serious about increasing retail revenue. And you can find some guidance going back to the basics of selling. An excellent salesperson is someone who listens and contributes value throughout a two-way conversation – making sense of the problem faced by consumers and offering a tailored solution real-time.

That’s the kind of experience you want to replicate with your digital marketing strategy. Online visitors take for granted that you won’t treat them like strangers anymore. They want relevant and targeted recommendations that anticipate their needs and align with their individual tastes. And they are willing to reward you for that with engagement and conversion rates respectively going up by 70 and 20 percent.

Retail Individualization in Action

There are two words on the lips of marketers working in a retail environment: Omnichannel and individualization. It is time to bridge digital and brick-and-mortar worlds and give a reason why shoppers should visit physical stores following online interactions. Blending channels “creates a seamless experience for customers regardless of how they engage with the brand” according to Nielsen. Let’s look at an example to illustrate that point.

Automating Retail Individualization

Simon’s customer journey is shaping up as he considers purchasing a new phone. But he is not too sure about which model is best for him. He visited a manufacturer’s website on several occasions and spent most of his time comparing two options – Model A and B. He even contacted a brand representative on social media with a few questions.

This indicates that Simon is close to making a decision, but he probably needs some dedicated attention to take the step. Anna, the Head of Digital Marketing, noticed that and decided to build an individualized commerce environment with content. She gathered and emailed him relevant web articles that review Model A and B, before organizing a meeting next week to compare them live with a store assistant.

Automating Retail Individualization

Anna did a great job gathering relevant information and sending it to Simon. But strained marketing departments cannot reasonably manage those individualized relationships manually. They must find a way to optimize content operations while meeting consumers’ expectations. And today’s marketers can rely on technology to support them in the process.

Content engagement solutions mix actionable insights, and real-time responsiveness thanks to predictive analysis and deep learning algorithms – making relevance the priority.

Knexus provides brands with the tools to deliver personalized content experience across any digital touchpoint – matching the right content to the right buyer persona to double conversion rates and boost e-commerce revenue by 15%.

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