What Are Dynamic Content Experiences
Dynamic content experiences change in real time to deliver the most up-to-date and relevant experience for a customer. This could be on a website, mobile app, email, landing page or other digital channel.
Typical triggers for updating the content will be changes in a customer’s behaviour or requirements. A simple example is Amazon providing book recommendation based on other books you’ve bought. Alternatively, the content might change because newer or better content becomes available that is more suitable for a customer. Entertainment company Netflix showcases both, estimating that their recommender system generates $1 billion in value annually.
At a basic level, marketers have used content dynamically to personalize for a long time, particularly through email eg. tailoring first name to introduce an email and personalizing the subject line.
Advances in big data, machine learning/AI and predictive analytics, mean the ability to deliver advanced personalization has greatly increased.
Capabilities To Deliver Dynamic Content Experiences
To achieve this requires integration with real time customer data sources, collected through an API or feed. This can be first party data, for example behavioural, clickstream or demographic data, or from third party sources (eg. social media or Google Search).
Similarly, content can be social, marketing and product content generated specifically for your brand (blogs, videos, images etc), or third party content (eg. weather forecast).
There is a wide spectrum of content and customer data opportunities to deliver dynamic content experiences, but the end game remains the same ie. deliver a more relevant, personalized experience to grow your sales or increase loyalty.
4 Ways to Improve ROI
Here are four key ways to improve ROI with dynamic content experiences:
1. ECommerce Conversion
Product Recommendations have become an increasingly important aspect of eCommerce, pioneered by Amazon as far back as the late 1990’s and supercharged with AI (artificial intelligence) improvements in recent years.
Product recommendations can be implemented at different stages of the buying journey, from reordering listing pages, to displaying other product suggestions on product pages. Criteria for displaying products include most popular, related products, what you’re mostly likely to like based on previous purchases or what others liked who also purchased.
Alongside product recommendations, Retailers are increasingly focusing on how they can use brand content(eg. how-to-guides) and social content (eg. celebrity endorsements on Instagram) to create richer and more relevant shopping experiences.
Performance improvements can vary considerably depending on the retailer, site, traffic and other factors, but conversion improvements from 2%-6% are typical.
2. Email Performance
Email was an early adopter when it came to personalization with first name matched from CRM and subject lines tailored to the recipient. According to Experian, Emails with personalized subject lines are 26% more likely to be opened, so industry adoption was no surprise.
But in order to generate higher open and click through rates and reduce opt outs, the sophistication of personalization is being extended. The theory is very simple. With recipient’s email boxes overflowing and attention spread thin across instant messaging, app push notifications, email and more, highly relevant content has the best chance of getting noticed.
Examples of Dynamic content in email including embedding video content or social feeds. Reported improvements in click through rates using dynamic content typically vary from less than 10% up to more than 25%. At the same time, more relevant content helps to reduce customer opt outs or alienation from your brand.
3. Align Content With The Buyer’s Journey
74% of online consumers get frustrated with websites when content appears that has nothing to do with their interests. Conversely, leads who are nurtured with targeted content produce a 20% increase in sales opportunities.
Image Source : 100degrees.com
So whether content served dynamically adapts to the profile of the visitor, where they come from, what products or services will mostly closely match their preferences or where they are in the buying journey, a more targeted content experience will increase engagement and reduce drop off rates.
4. Avoid The Wrath Of Consumers
More than 200 million users now block ads. In the US, for example, eMarketer estimates more than one-quarter (27.5%) of US internet users will use ad blockers in 2017. A further breakdown highlights that 41.1% of millennials use ad blockers, compared with 26.9% Gen X internet users, and only 13.9% of baby boomers.
Millennials are the most tech savvy audience and also the most interested in receiving personalized content. For example, 62% of adults under 34 are willing to share their location for more relevant content. They represent more than one third of the workforce in leading economies and will account for almost half by 2020.
Millennial’s increasingly represent the greatest concentration of buying power in the market, and they expect relevant content from brands. Brands that fail to take note and respond to fast changing expectations with personalization based on behavioral data will increasingly be punished by their customers.
Knexus is a real time decision making engine using AI & proprietary algorithms to match social, marketing & product content with dynamic customer profiles. The platform delivers personalized customer journeys in real time that improve engagement and increase sales (across ecommerce, websites, apps, and email).